What about default risk?

违约风险如何呢？

Default risk is systematic risk.

违约风险是系统性风险。

Higher rates often signal higher default risk.

收益率更高通常是违约风险更高的信号。

In China, most of loan guarantors are of default risk.

在中国，绝大多数的贷款担保人有违约风险。

In fact it means only a slight increase in long-term default risk.

事实上，这只意味着在长期违约风险略有增加。