商務(wù)英語專業(yè)大三精讀第二章Chapter2

1、Chapter 2A Changed Global RealityNotes to the TextvFinancial institution that seemed as solid as granite disappeared as if they were no more substantial than a bunch of flowers in the hands of an old style magician.v原來堅如磐石的金融機構(gòu)消失了，似乎還不如老套的魔術(shù)師手中變出的花束看起來真實。Notes to the Textvthe stuff of history: histo

2、ricalvAnd it has been: an ellipsisvmake ones way to: 前往某處vcome to terms with something: 妥協(xié) 、接受Notes to the TextvWEF(World Economic Forum)vAn independent organization committed to improving the state of the world by bringing together business, political, academic and social leaders to shape global, r

3、egional and industry agendas.Question 1vWhat are the features of the two major economies that the world has seen for more than 200 years?One has dominated technological innovation and trade and amassed great wealth. The secondmuch of it politically under the thumb of the firsthas remained poor and t

4、echnologically dependent.Notes to the TextvFour Asian DragonsvHong Kong SAR, Singapore, Republic of Korea and Taiwan AreaNotes to the TextvThe developed world of the haves is struggling to restart growth and preserve welfare states, while the world of the once have-nots has surged out of the downtur

5、n.v生活富有的發(fā)達(dá)國家正在努力重新刺激經(jīng)濟(jì)增長并維持社會福利，而那些曾經(jīng)貧困的發(fā)展中國家卻已經(jīng)擺脫了經(jīng)濟(jì)困境。Question 2vHow much did low-and-middle-income countries contribute to world growth in 2010?Almost half (46%)Question 3vTaking a long term view, why is it good news that developing countries are growing fast?vAs billions of poor people become mo

6、re prosperous, they will be able to afford the comforts their counterparts in the rich world have long considered the normal appurtenances of life.v由于數(shù)以億計的窮人變得更加富有，這些人將能夠支付得起富裕國家的人們長期視為正常生活一部分的舒適的物質(zhì)條件。Notes to the TextvOtherwise, the world could yet tip back into beggar-thy-neighbor populism that wi

7、ll end up beggaring everyone. We are not out of the woods yet.beggar-thy-neighbor populism 以鄰為壑的民粹主義out of the woods 擺脫困境v否則，這個世界可能退回到以鄰為壑的民粹主義中去，而其結(jié)果將會使各國經(jīng)濟(jì)更加糟糕（淪為乞丐）。我們?nèi)晕疵撾x困境。Question 4vWhat are the worst-case scenarios that Europe has so far avoided?A collapse of the euro, a debt crisis that spil

8、ls from small economies such as Greece and Ireland to much bigger ones like Italy and Spain, and bitter social unrest in those nations that are having to massage wages down while cutting public budgets.Notes to the Textvdouble-dip recession 雙底衰退It describes a situation in which the economy growth sl

9、ides back to negative after a short-lived growth and the economy may move into a deeper and longer downturn.v索羅斯是在匈牙利首都布達(dá)佩斯發(fā)表演講時做上述表態(tài)的。他表示，還不能確定全球經(jīng)濟(jì)的下一次走低是否會在2010年或2011年發(fā)生。v“雙底型衰退”（double dip recession）又稱“W型衰退指在全球經(jīng)濟(jì)已經(jīng)觸底逐漸回升時，經(jīng)濟(jì)復(fù)蘇可能失去動能，在不久的將來會再一次觸底。2009年下半年，全球經(jīng)濟(jì)開始從金融危機中觸底反彈，但是，不少媒體和經(jīng)濟(jì)學(xué)界的人士包括索羅斯認(rèn)為，全球

10、經(jīng)濟(jì)復(fù)蘇可能失去動能，“雙底”衰退具有實質(zhì)性威脅。Notes to the TextvThough Europe is wheezing under cascading sovereign-debt crises, it has so far avoided the worst-case scenarios-a collapse of the eurov盡管歐洲在洶涌而至的主權(quán)債務(wù)危機下茍延殘喘，但到目前為止，它已避免了最糟糕的狀況-歐元的崩潰。Notes to the Textvtidings n. (古）消息 vCassandra n.卡珊德拉In Greek mythology, Cas

11、sandra, also known as Alexandra, was a goddess with the gift of prophecy.vflatten out: stop growing/going up e.g. Gold price on the London market are expected to flatten out after a period of fluctuation.Question 5 vWhy does Jim Walker think that 2011 will be a “year of reckoning”?Because Jim Walker

12、 thinks that the rebound in the US is a mirage created by excessive stimulus. He expects the US to slip into the double dip it dodged in 2010.Question 6vWhy has the private-sector debt crisis of 2008-2009 morphed into a public-sector debt crisis in 2010-11?It has been the result of the debt and defi

13、cits amassed in the process of stimulating economies and bailing out banks during the downturn. bail out: to help someone out of difficult situation, often by giving them money.Notes to the Textvscale back sth/scale sth back 相應(yīng)縮減，按比例 減少ve.g. vRegulators are clamping down on these institutions, forci

14、ng them to raise capital and scale back lending.v監(jiān)管部門也在向這些機構(gòu)施壓，要求它們籌資并縮減貸款。Notes to the TextvBallooning debts and feeble growth prospects for the advanced economies are reordering the investors perception of risk.vballoon vi. When something balloons, it increases rapidly in amount. 激增；猛漲v發(fā)達(dá)國家債務(wù)激增，經(jīng)濟(jì)

15、發(fā)展疲軟，這種現(xiàn)象正在改變投資者對風(fēng)險的判斷。Notes to the TextvNoting that the U.S. “has no plan in place to stabilize and ultimately reverse the upward debt trajectory,” Moodys in mid-January warned that the countrys AAA credit rating could come under pressure if debt continues to mount; a few days later, Moodys upgrade

16、d Indonesias rating.v注意到美國“沒有合適的計劃來穩(wěn)定并最終逆轉(zhuǎn)上揚的債務(wù)曲線，”穆迪公司在一月中旬警告說如果美國的債務(wù)繼續(xù)增加，這個國家的3A信用等級可能面臨壓力；幾天之后，穆迪公司提升了印尼的信用等級。Notes to the Textv快速增長的通貨膨脹v強勁的國內(nèi)需求增長v刺激性政策v商品價格v（市場）需求回歸v供應(yīng)限制因素v寬松的貨幣政策v食品價格指數(shù)v達(dá)到歷史新高v飛漲的價格va sharp rise in inflationvstrong domestic growthvstimulus policiesvcommodity pricesvreturning

17、demandvsupply constraintsvloose-money policiesvfood price indexvreach an all-time highvspiking pricesQuestion 7vWhat are the risks that emerging economies face? a. sharp rise in inflation b. rising oil prices c. soaring food priceNotes to the TextvIn mid-January, China raised the reserve-requirement

18、 ratio-which forces banks to park more money at home for every loan they make-to a record high in an attempt to curtail credit and quell inflation, which rose at the fastest pace in two years in November.v一月中旬，中國提高銀行準(zhǔn)備金率至歷史新高，強制銀行每發(fā)放一筆貸款就必須在央行存入更多的儲備金。中國試圖以此減少信貸并且抑制通過膨脹。今年十一月，中國的通貨膨脹達(dá)到兩年來的最快增速。Quest

19、ion 8vWhat did China and India do to cope with inflation and rising food prices?China raised the reserve-requirement ratio; India resorted to diplomatic means when Pakistan temporarily cut off some exports of onions to the country.Notes to the Textvraging food prices飆升的食品價格vcut off exports削減出口vbust

20、inflation消除通貨膨脹vdampen growth抑制增長Question 9vHow to understand populist resentment in this paragraph?vSince common people in developed countries were still suffering from unemployment during the recovery, therefore, they may transfer dissatisfaction with domestic economy to people living in emerging

21、economies like China, India and parts of Africa, thus breeding a feeling of populist resentment.Notes to the Textvtook place in a highly charged atmosphere.vIf a situation is charged, it is filled with emotion and therefore very tense or exciting.vChina is tired of being lectured to by those who see

22、m unable to manage their own economies particularly well.v中國厭倦了被那些連自己的經(jīng)濟(jì)都管理不好的國家教訓(xùn)。Notes to the TextvU.S businesses, which have in the past be supportive of free trade and engagement with China, are beginning to sing with different voices.vComment:vThe U.S government is now trying to exert influence

23、 upon international trade and turned against China time and again.Notes to the TextvIn the U.S. and Europe, a certain helplessness in the face of huge economic forces is fueling a disaffection-which makes itself felt in different ways in different societies-with the global financial elites and the p

24、olicymakers who are thought to have connived with them.v在美國和歐洲，面對巨大經(jīng)濟(jì)壓力卻無能力的現(xiàn)象正激起人們對全球的金融精英和和決策者的不滿，認(rèn)為他們串通一氣，這種不滿在不同的社會表現(xiàn)形式不同。Notes to the TextvThere was a particularly poignant moment when Ireland, which cherishes its independence like a precious jewel, was forced to go cap in hand to the EU for a

25、bailout in November.v視獨立如珍寶的愛爾蘭，11月為了得到緊急財政援助，不得不向歐盟求助，這令人感到非常心酸。Notes to the Textvwhich excoriated a bourgeois capitalism whose “fumble in a greasy till/And add the halfpence to the pence/And prayer to shivering prayer, until/You have dried the marrow from the bone.”v這行詩痛斥了資本主義商人“在滿是油污的錢柜里摸索，一點一點積攢

26、，不停地禱告，直到榨干工人的骨髓（最后一滴血）。Question 10vHow can a disaffection with global capitalism in the developed world be prevented from turning into a backlash against it?v如何阻止人們對發(fā)達(dá)國家所倡導(dǎo)的全球資本主義的不滿演變?yōu)閺娏业种?？vIt would help if there were mechanisms in place to manage the stresses in the international economy.Notes to

27、 the TextvThe Doha round of trade talks, .everyone knows there is nothing there, but nobody will say so.vComment:vNo practical achievement had been reached during the talks since the attending countries considered too much about their own interests.Notes to the TextvYet the unmediated rift between countries(2), each desperate to preserve its edge in the global economic game(1), is not even the most serious division that policymakers have to contend with(3).v在全球經(jīng)濟(jì)博弈中，各國都竭盡全力