The gravitational field diverges at the center of a black hole.
重力场在黑洞中心发散。
In calculus, the divergence of a vector field measures the density of its source or sink.
在微积分中，向量场的散度衡量其源或汇的密度。
The electric field diverges as you approach a point charge.
电场在你接近点电荷时发散。
The series ∑(1/n) diverges, meaning it does not converge to a finite limit.
级数∑(1/n)发散，意味着它没有收敛到有限的极限。
The heat flow through a solid object can be described by the divergence of the temperature gradient.
固体物体的热流可以通过温度梯度的散度来描述。
The velocity vector field of a fluid diverges at any point where the pressure is zero.
流体的速度向量场在任何压力为零的地方发散。
In fluid dynamics, the divergence theorem relates the flux of a vector field through a closed surface to the volume integral of its divergence.
流体动力学中，散度定理将向量场通过闭合表面的通量与它的散度的体积积分联系起来。
The rate of change in the number of particles in a region is given by the divergence of the particle current density.
区域中粒子数量的变化率由粒子流密度的散度给出。
The magnetic field lines diverge near the north pole and converge near the south pole.
磁场线在北极附近发散，在南极附近汇聚。
The divergence of a financial market, where prices deviate significantly from their fundamental value, can lead to instability.
金融市场偏离其基本面价格的发散可能导致不稳定性。
The divergence in consumer attitudes as exemplified in many of J. D. Power's studies provides insights to automakers, which the latter use to finetune their strategies and products for success in the market.
A better system of climate divergence is needed to reduce discrepancies among climate-related trade measures, the former WTO chief said.
This divergence in performance underscores the importance of innovation, premium branding, and agile responses to market changes — factors that will continue to define winners in the market.
The divergence between GDP and price growth has also been unusual, highlighting insufficient overall demand during the recovery.
That sort of policy shock, during US economic divergence with the rest of the world, could have significant ripple effects.
Quizzed about the divergence after a speech, European Central Bank President Christine Lagarde noted that after the Russia-Ukraine conflict broke out last year, the outlook was for a euro-area recession - a potentially deep one in some parts.
"The divergence points to the fact that current economic growth lacks internal drivers and that market entities lack sufficient confidence, highlighting the importance of expanding and restoring demand," Wang added.
First of all, the divergence between China's economic cycle and that of Europe and the US, and the slowdown in China's internal demand, which curbs overall price increases.
"The sharp divergence between PPI inflation in China and the Eurozone (43.3 percent year-on-year in August) suggests China may be gaining a competitive advantage in manufacturing that could help bolster China's exports," said Lu Ting, chief China economist at Nomura.
Commercial banks will see good opportunities for growth in those real estate developers that have survived after divergence in the sector," said Hu Gang, vice-president and chief risk officer of China CITIC Bank, at a news conference announcing 2022 interim results of the Beijing-based national joint-stock commercial lender.
Recently, some people have argued that Vietnamese products are replacing China's in global export markets and their reasoning is based on the divergence of the growth rates of the two countries' exports and changes in their market shares of exports to the United States in particular.
Due to their different export structures and growth dynamics, the divergence in export growth rates between China and Vietnam cannot be simply attributed to the transfer of orders between the two countries.
Even if there is a shift of orders, and the US transfers orders from China to Vietnam, resulting in a divergence in the performance of China's and Vietnam's respective exports to the US, that does not mean that China's overall exports will decline.
"During the event, WTO members showed they cherish economic globalization, overcoming geopolitical divergence heightened by the conflict in Ukraine and resorting to cooperation rather than confrontation to jointly-address global problems," said Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics and WTO Chair at the university.
"But we don't expect additional cuts as the policy divergence with the US and renminbi weakness will act as constraints," Wu added.
"While we still expect another RRR and policy rate cut in Q2, the chance is now lower and we don't expect additional broad-based easing in Q3, with capital outflow pressure amid the policy divergence with the United States acting as a constraint. "
Official data also pointed to a rise in capital outflows from China's bond market amid the divergence in China-US monetary policy.
Since the COVID-19 outbreak, development gaps between nations due to different levels of anti-COVID measures have exacerbated divergences in the global economy, generating even more risks facing the Chinese economy this year.
The IMF has repeatedly stressed the divergence in prospects across countries.
Some experts said a growing divergence in monetary policy between China and the United States could weaken the renminbi.
The yield spread between Chinese and US government bonds has remained as high as 1.4 percentage points of late, providing a cushion for any capital outflow pressure on China due to the divergence in the two economies' monetary stances.
They called for greater efforts to strengthen global coordination on macro-economic policies, ensure stability of the industrial and supply chains, promote a green and low-carbon transition, push forward the reform of global economic governance, and effectively tackle global challenges including climate change and development divergence.
When meeting with the press after the Roundtable, Li said they agreed that the world economic recovery has shown divergence and fighting COVID-19 remains the current pressing task.
Looking into the fourth quarter, China's economic growth may face some slowdown risks, with wider divergence of the consumer price index and the producer price index indicating inflation levels at the consumer as well as production ends.
"The widening divergence of PPI and CPI points to prominent structural problems facing the economy.
Looking beyond this year, the IMF predicted the global economy to grow at 4.9 percent in 2022, unchanged from the July forecast, but there exists a "dangerous divergence" in prospects across countries, according to Gopinath, also director of the IMF's Research Department.
"These divergences are a consequence of the 'great vaccine divide' and large disparities in policy support," Gopinath wrote in a blog, noting that while more than 60 percent of the population in advanced economies is fully vaccinated, and some are now receiving booster shots, about 96 percent of the population in low-income countries remain unvaccinated.
"The widening divergence of PPI and CPI inflation points to a worsening profit margin for manufacturers and service providers, and may exert extra downward pressure on activity growth," said Lu Ting, Nomura's chief China economist.
In China, the price rises have led to a notable divergence in business operation status across industries.
In a similar vein, Li Ke'aobo, a researcher at the Academic Center for Chinese Economic Practice and Thinking at Tsinghua University, believes the divergence is mainly because China's economic recovery has so far been uneven.
同样地，清华大学中国经济思想与实践研究院的研究员李可博认为，这种差异主要源于迄今为止中国经济发展恢复的不均衡性。
"This is unsurprising as companies cannot be globally competitive without a strong presence in China," she said, adding if the United States and China proceed down the path of trade conflicts and technological divergence, then it is imperative that exposure be minimized.
"But there is divergence on whether inflation can last for a long time," Yi said at the 13th Lujiazui Forum 2021 in Shanghai.
In the past five years, the PPI and the CPI had a lasting divergence, and there was no evidence to show the PPI has influenced the CPI.
However, "we must not take the recovery for granted," as there is a dangerous divergence in economic fortunes across and within countries, she said, adding that vulnerable households and viable firms will need continued support so long as the crisis persists.
"This year we face the risk of great divergence.
"This (divergence in growth) is consistent with our view that the pandemic has been a much larger blow to the US economy than China's economy," CNBC reported quoting Rob Subbaraman, global head of macro research at Nomura Holdings in Singapore.
Confronted with an unprecedented global challenge, the international community must act now to ensure the pandemic is beaten back everywhere, the divergence in prospects across and within countries is reversed, and the world builds forward to a more prosperous, green, and inclusive future, she wrote in the blog.
Estimates from policymaking departments and economists have shown little divergence regarding China's potential growth rate in recent years, and they agreed on the basic trend of leaning toward a gradual decrease on a yearly basis due to the aging population and rising labor costs.
Multilaterlism mattersThe cumulative growth in per capita income for emerging-market and developing economies (excluding China) over 2020-2021 is projected to be lower than that for advanced economies, which means the divergence in income prospects between the two groups is projected to worsen, Gopinath noted.
Asian nations, particularly China's early action to stem the spread of virus, contrasts with Europe's struggle, and is leading to divergences in outcomes, the Financial Times said.
"His comments show how different approaches to the pandemic are now leading to sharp divergences in outcomes, with China and other Asia-Pacific economies on course to grow in 2020, the paper said in its report titled "East-west divide: winners and losers in the Covid economy".
The cumulative growth in per capita income for emerging-market and developing economies (excluding China) over 2020-21 is projected to be lower than that for advanced economies, which means the divergence in income prospects between the two groups is projected to worsen, Gopinath noted.
Examining the dynamics of supply and demand, the report underlines a divergence in global energy resource reserves, production and consumption.
Also, the repeated COVID-19 pandemic waves and global divergence in prevention and control measures have weakened industrial production and logistics, which, in turn, have weakened market confidence and consumer spending.
Following its overall cooling in the second half of 2021, the real estate sector is likely to see some growth divergence this year from region to region, amid the pursuit of structural improvement and higher quality, said Ni Pengfei from the Chinese Academy of Social Sciences.
He Wenbo, CISA Party secretary, said at a news conference on April 22 that the divergence of steel prices and imported iron ore prices has brought negative pressure on steel companies trying to reduce costs and increase profitability.
"We will see a huge divergence in bank performance in the next three to five years.
Due to the divergence in performance, Fitch expects some large wind-power operators to have already achieved positive free cash flow in 2018.
Despite the divergence, Chinese consumers are generally more mobile-centric and tech-savvy than their counterparts in other countries.
The sector has warned that regulatory divergence could cost billions and lead to some models not being sold in Britain.
In addition to common traffic participants and road information, the solution also recognizes long-tail scenario elements such as vehicle-lane convergence and divergence, road signs and traffic light shapes, which are typical in China.
But there was a divergence in the performance of listed companies in the blockchain industry as of Wednesday.
The remaining uncertainty over US tightening has left the People's Bank of China, the nation's central bank, with a key task of continuing to balance between easing monetary policy to support the economy and avoiding widening China-US monetary policy divergence, which could weaken the renminbi in the short term.
Experts said one of the top tasks facing Pan as the central bank governor would be striking a delicate balance between strengthening monetary policy support for economic recovery and avoiding widening China-US monetary policy divergence, which could weaken the renminbi in the short term.
So far this year, the onshore yuan has depreciated by more than 3 percent against the dollar, which experts attributed to China-US monetary policy divergence as well as the US economy's resilience when China's economic recovery had slowed down.
Amid a China-US monetary policy divergence and slowing momentum of China's economic recovery, the onshore renminbi has depreciated by more than 5 percent against the dollar since mid-April.
This divergence may widen US-China interest rate differentials and intensify capital outflow pressure on China.
Lou Feipeng, a researcher at the Postal Savings Bank of China, agreed, saying that the Fed's tightening pause would help ease the depreciation pressure on the renminbi because of the two countries' monetary policy divergence, giving China's monetary policy more flexibility.
China's monetary policy flexibility has increased as the US Federal Reserve may stop rate hikes soon, Ye said, which will ease depreciation pressure on the renminbi due to the two countries' monetary policy divergence.
Yin Ruizhe, a fixed-income analyst at China Merchants Securities, said in a research note that monetary policy divergence between China and the US may narrow in the second half of the year, making the external environment more favorable for China to reduce interest rates.
Listed banks' net profit growth is expected to repair in 2023 but a divergence among banks will remain.
"According to our observations of REITs in the United States, we will see a divergence in the performance of REITs in China by the types of assets in which a REIT invests," he said.
The Chinese currency has faced renewed depreciation pressure against the greenback this month as interest rate levels in the United States surpassed those in China by a bigger margin as monetary policy divergence between the two economies widened.
The financial risks in China have gradually shifted from the status of divergence to convergence, with a number of major risks precisely dismantled, added Zhou.
The dollar bulls now eye the 110 level on the back of a solid divergence between the decidedly hawkish Fed but increasingly worried other central banks, said Ozkardeskaya.
The main reasons for the contraction of MLF loans are that banks have insufficient demand for high-cost MLF funds and the divergence between policy rates and market rates is huge, reducing the leading effect of MLF policy rates on the cost of bank liabilities, so there is a great need for convergence between policy rates and market rates.
If I have to pick the most interesting macroeconomic topic this year, my first choice would be the divergence between the monetary policies of the world's two biggest economies.
The divergence came into sharper relief last week when the PBOC cut a key policy rate to support economic recovery.
Such moves may lead to further monetary policy divergence betwxadeen China and the US.
While the divergence could drive some capital to leave China for higher interest rates in the US, analysts said the overall impact should be manageable for Beijing, given the steady appeal of renminbi-denominated assets.
This divergence is largely due to the different phases that each economy is at in terms of their respective economic cycles.
Near-term rate cuts could trigger a drastic policy divergence between China and the US and trigger capital outflows from the former, given that the Fed's hawkishness in tightening could peak this month and next, Chao said.
Deeper motivation lies in the divergence of the pace of economic recovery and monetary policies between China and the US after the COVID-19 pandemic.
Since the outbreak of the epidemic, China and the United States have had great differences in both the pace of economic recovery and the trend of inflation, which has led to the divergence of monetary policies in both countries.
Zhu Haibin, JP Morgan's chief China economist, said he expects the yuan to stay fairly stable and withstand the outflow pressure caused by a growing monetary policy divergence between China and the US.
Chao said he foresees the monetary policy divergence between China and the US expanding over the next couple of quarters with more robust easing in China, which could boost earnings and valuations of Chinese A shares.
The foundation that supports the strong yuan exchange rate will not fade away quickly in 2022, and the exchange rate will act as a tool in balancing policy divergence between China and the US.
In 2022, the yuan exchange rate may act as a tool in balancing policy divergences between China and the US.
The remarks came amid market anticipations of a growing divergence in monetary policy of the world's two biggest economies.
That may create a divergence from fiscal and economic reality.
Louis Luo, investment director in multi-asset solutions with abrdn, a global investment company, said the policy divergence may continue as the PBOC may loosen its policy stance to shore up economic growth, reinforcing the appeal of China's A shares on the portfolio diversification front.
Zhang Anyuan, chief economist at China Securities, said the monetary policies of China and the US have shown a trend of divergence; and the US is likely to keep aggressive expansionary fiscal policy while the US Fed's withdrawal－"tapering"－of quantitative easing may not begin too soon.
"Small and medium-sized banks with indistinct features have been badly affected by COVID-19, which accelerated divergence of the banking industry.
Looking ahead, the divergence will intensify," said Dong Ximiao, chief researcher at Merchants Union Consumer Finance Co. Xiao Feifei, chief banking analyst with CITIC Securities, said the profitability of listed banks is improving steadily, which shows a continuous recovery of macroeconomic prosperity.
In the future, banks' client base, business structure and speed of problematic asset clearance will lead to a continued divergence in the banking industry," Xiao said.
However, Hu also said the bank may face higher exposure to risk this year due to several factors, such as economic uncertainties, divergence of companies and cyclical industries, and China's upcoming exit from the deferral policy for principal and interest repayments for medium-sized enterprises.
"There has been a clear divergence in M&A activities between China and other APAC countries.
"A clear divergence in the wealth management business and capabilities between large and small banking institutions will be seen when the transitional period comes to an end.
Investors we spoke to are concerned about the divergence in price-to-earnings multiples between value and growth in A shares.
The divergence in the monetary policy results of the central banks of the world's two largest economies also shows that Chinese monetary authorities resorted to less policy easing than their US peers, analysts said.
First-half divergence between the A-share market's main board and the technology-heavy ChiNext in Shenzhen may partly explain the recent surge in trading volumes and the attendant spike in key indexes.
China may see an increasing number of mergers and acquisitions among small and medium-sized commercial banks, as the country ramps up efforts to mitigate financial risk while divergence in banks' asset quality and financial performance has intensified, experts said.
Therefore, it can be argued that the divergence in market performance of high-grade and low-grade credit bonds will deepen this year.
"We will see a more serious divergence in stock prices on the ChiNext board after the reform.
The stepped-up registration-based reform across the whole A-share market has the potential to increase long-term market returns, but the divergence in stock performances may deepen next year, analysts said.
"The regulation, however, will also widen credit divergence between the larger banks designated as D-SIBs and non-systemic small banks that receive less government support, he said.
China's central bank is determined to maintain a prudent monetary policy stance, but it can be slightly adjusted according to changes in economic growth and price levels, to prevent "the divergence of inflation expectation," according to its quarterly issued report on Saturday.
The LPR reform is an important effort to address the interest rate segmentation problem - that is, the coexistence and divergence between two sets of interest rates.
This could be attributed to the following factors: i) increasing flexibility in exchange rate and less direct intervention by utilizing forex reserves; ii) the divergence in central bank policies and increases in interest-rate differentials (RMB versus USD), which provide fundamental support; iii) accelerated pace of capital account openness to attract inflows from global institutional investors and stricter restrictions on capital outflows from domestic investors.
Firms with strong fundamentals may sustain high valuations, while weaker ones may see a marked divergence in stock price performance.
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