This is a money word, mostly British, from the world of companies and banks. Gearing is the relationship between what a company is worth and what it owes.

This is a money word這是一個跟錢有關的字，mostly British主要是英式用法，from the world of companies and banks來自公司和銀行的世界。GearingGearing，is the relationship between what a company is worth and what it owes是一家公司的價值跟它所欠的債之間的關係。

If it has borrowed a lot, compared with its own value, people say it has high gearing. Low gearing means it has not borrowed much.

If it has borrowed a lot如果它借了很多錢，compared with its own value相對於它自己的價值來說，people say it has high gearing人們就會說它high gearing（槓桿高）。Low gearing means it has not borrowed muchlow gearing（槓桿低）就是指它沒有借很多錢。

The picture is the gears in a machine: borrow a lot, and both your gains and your losses can be “geared up” — they get bigger than they would have been with only your own money. In American English the close word is leverage.

The picture is the gears in a machine這個畫面就像機器裡的齒輪：borrow a lot借很多錢，and both your gains and your losses can be “geared up”你的獲利和虧損都會被「齒輪帶動放大」——they get bigger than they would have been with only your own money它們會比只用自己的錢時來得更大。In American English the close word is leverage在美式英文裡相近的字是leverage（槓桿）。

On the news you will hear “highly geared” for a company deep in debt. It is cold and formal; you would not use it about a family credit card, though actually people do stretch it a little to a person or a country living on a lot of borrowed money.

On the news在新聞上，you will hear “highly geared”你會聽到「highly geared」，for a company deep in debt用來講一家債台高築的公司。It is cold and formal這個字冷硬又正式，you would not use it about a family credit card你不會拿它來講一張家庭信用卡，though actually people do stretch it a little不過其實人們也會把它延伸一點，to a person or a country living on a lot of borrowed money用在靠大量借款過活的個人或國家身上。

High gearing is not a compliment. It can mean bigger chance of profit, and bigger chance of trouble.

High gearing is not a complimenthigh gearing不是稱讚的話。It can mean bigger chance of profit它可能代表獲利的機會更大，and bigger chance of trouble也代表出問題的機會更大。