【中文版】

“全世界一起参与的泡沫”是指在全球范围内，许多资产价格飙升，形成了一种虚假的经济繁荣现象。这种泡沫的形成是由于全球范围内的货币宽松政策和低利率环境所致，大量的资金流入市场，推动了资产价格的上涨。

在这种泡沫中，各国经济看似繁荣，但实际上这种繁荣是建立在资产价格上涨的基础之上的，而这种上涨并不是由实体经济增长所带动的。因此，一旦泡沫破裂，全球经济就会遭受巨大的冲击，因为许多资产价格会出现大幅下跌，导致大量的债务和破产。

当前全球正处于这种泡沫之中，各国央行不断推出货币宽松政策，使得市场上的资金非常充裕，而利率则处于历史低位。这种环境下，投资者追求高收益，大量资金涌入股市、房地产等资产市场，推动了这些市场的价格上涨。但是，这种泡沫是不健康的，因为一旦市场出现变化，价格就会大幅下跌，导致市场出现崩盘的风险。

因此，为了避免泡沫破裂带来的风险，各国应该采取更加稳健的经济政策，促进实体经济增长，减少货币宽松政策的依赖，以及加强对金融市场的监管和管理。只有这样，才能保证全球经济的稳定和可持续发展。

【英文版】

"The bubble that the whole world participates in" refers to the phenomenon of asset prices soaring worldwide, forming an artificial economic boom. This bubble is formed due to the global monetary easing policies and low interest rate environment, which cause a large amount of funds to flow into the market and push up asset prices.

In this bubble, the economies of various countries may seem prosperous, but in reality this prosperity is based on the rise of asset prices rather than the growth of the real economy. Therefore, once the bubble bursts, the global economy will suffer a huge impact because many asset prices will fall significantly, leading to a large amount of debt and bankruptcy.

Currently, the global economy is in such a bubble. Central banks around the world continue to launch monetary easing policies, making funds in the market very abundant and interest rates at historic lows. In this environment, investors pursue high returns, and a large amount of funds flow into stock markets, real estate and other asset markets, driving up these market prices. However, this bubble is unhealthy because once market conditions change, prices will fall significantly, leading to the risk of market collapse.

Therefore, in order to avoid the risks brought by bubble burst, countries around the world should adopt more robust economic policies, promote实体经济增长, reduce dependence on monetary easing policies, and strengthen supervision and management of financial markets. Only in this way can we ensure the stable and sustainable development of the global economy.