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UnitThree
EconomyWatch高級綜合商務(wù)英語2Unit3EconomyWatchLead-in高級綜合商務(wù)英語2Unit3EconomyWatchLead-in
DiscussionWorkingroupstomatchthenationalflagswiththecountries.Thenchooseacountrytoliveinwhilejustifyingyourgroupdecision.IndiaU.S.EthiopiaSingaporeBrazilSwitzerland高級綜合商務(wù)英語2Unit3EconomyWatch
Lead-in
Discussion2.Identifysomedevelopedcountriesanddevelopingcountriesfromtheworldmap.高級綜合商務(wù)英語2Unit3EconomyWatchLead-in
Discussion3.Areyoufamiliarwiththefollowingtermsofeconomicsystem?Nameacountry/regionforeachcategory.PlannedEconomy/CommandEconomyMarketEconomyMixedEconomy高級綜合商務(wù)英語2Unit3EconomyWatch4.Chinahasenjoyedstrongeconomicgrowthforoverthreedecades.Whataretheimplicationsofitsstronggrowth?There’safavorablerippleeffectthroughouttheeconomy.Forconsumers:---IncomelevelPurchasingpowerVolumeofspendingDemandforproductsFormanufacturers:---productionrevenueForsuppliers
---salesofequipmentsneedforworkersinvestmentFordistributors---businessopportunities......
Lead-in
Discussion高級綜合商務(wù)英語2Unit3EconomyWatchTextATheChinaMiracleDemystified高級綜合商務(wù)英語2Unit3EconomyWatchStructuralAnalysisPara.MainTopics1China’seconomicgrowthinthepastthreedecadesisamiracle.2-16GreaterinteresthasbeenarousedintheChinamodelofeconomicgrowth.Thistextjusthelpstodemystifythemiracle.高級綜合商務(wù)英語2Unit3EconomyWatchPartI
QuestionsaboutPartIQ1:WhatwasChina’seconomicsituationlikebefore1979?Chinapracticedplannedeconomy.Chinawasapoor,inward-lookingcountrywithlowpercapitaincomeaswellastradedependenceratio.高級綜合商務(wù)英語2Unit3EconomyWatchPartI
QuestionsaboutPartIQ2:Whyistheyearof1979mentionedbytheauthorasadividinglineinChina’seconomicgrowth?InDecember1978,the3rdPlenumofthe11thCentralCommitteeofCPCwasheldinChina,atwhichthereformandopening-uppolicywasputforward.Sincethen,Chinahasembarkedonajourneyofstrongeconomicgrowthforover30years.高級綜合商務(wù)英語2Unit3EconomyWatchPartI
QuestionsaboutPartIQ3:WhatexampleshavebeengiventoelaboratetheChinamiracleofthepast30years?HighannualGDPgrowthrate;Highannualgrowthrateininternationaltrade;Increasedincome(nowamiddle-incomecountry);Highesttradedependenceratio;The2ndlargesteconomyandthelargestexporterofmerchandisein2009;Largestcarmarketnow;Shanghai:thebusiestseaportbycargotonnage.高級綜合商務(wù)英語2Unit3EconomyWatch
Thespectaculargrowthoverthepastthreedecadesfarexceededtheexpectationsofanyoneattheoutsetofthetransition,includingDengXiaoping,thearchitectofChina’sreformandopening-upstrategy.(Line14,Para.1)
China’smiraculouseconomicgrowthoverthepast30yearswasbeyondwhatmanypeoplehadexpectedatthebeginningofitseconomictransformation.AndDengXiaoping,whosettheblueprintforChina’sreformandopening-uppolicy,wasnoexception.PartI
SentenceInterpretation高級綜合商務(wù)英語2Unit3EconomyWatch
inward-looking(Para.1)
a.
beingenclosedorconfinedtotheinsideofsomething;beingcutofffromtheoutsideworld
synonyms:closed;isolated
example:Thesolutiontoglobalcompetitionisfosteringimprovedcompetitivenessratherthantakinganinward-lookingstance.PartI
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatch
miraculous(Para.1)
a.
surprisingorunexpected;beingorhavingthecharacterofamiracle
synonyms:incredible;marvelous;amazing
example:Withthenewmanagementteam,thecompanymadeamiraculousrecoveryfromthelabor-gatecrisis.PartI
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatch
attheoutsetof(Para.1)
pp.
atthestartof;atthebeginningof
example:Attheoutsetofhercareershewasfullofoptimismbutnotnow.PartI
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatchDengXiaopingDengXiaopingwastheleaderofChinafrom1978to1992.Heisconsidered“thearchitect”ofChina’sreformandopening-uppolicy.HisgoalatthattimewastoquadruplethesizeofChina’seconomyin20years,whichwouldhavemeantanaverageannualgrowthof7.2percent.Mostpeopleinthe1980s,andevenaslateastheearly1990s,thoughtthatachievingthatgoalwasamissionimpossible.HeisgenerallycreditedwithdevelopingChinaintooneofthefastest-growingeconomiesintheworldforover35yearsandraisingthelivingstandardofhundredsofmillionsofChinese.PartI
Notes高級綜合商務(wù)英語2Unit3EconomyWatchQ1.
ThreeaspectshavebeenfocusedtounveiltheChinamiracle.Whatarethey?(Para.2)ThereasonforChina’sextraordinaryperformanceintransition.Thereasonforfailingtoachievesimilarperformancebyothertransitioneconomies.TheinsightofChinamiracleforotherdevelopingcountries.PartII
QuestionsaboutPartII高級綜合商務(wù)英語2Unit3EconomyWatchQ2.
What,intheauthor’spointofviewhascontributedtoChina’sstronggrowthinthepastthreedecades?(Para.3-8)China’sexploitationoftheadvantageofbackwardnesshasallowedthecountrytoemergeastheworld’sworkshopandtoachieveextraordinaryeconomicgrowthbyreducingthecostsofinnovation,industrialupgrading,andsocialandeconomictransformation.PartII
QuestionsaboutPartII高級綜合商務(wù)英語2Unit3EconomyWatchQ3.Whydidn’tothertransitioneconomiesperformequallywell?(Para.9-12)Duringthetransitionfromlow-incomeagrarianeconomiestocapital-intensiveheavyindustries,manydevelopingcountriesintroduceddistortionsandgovernmentinterventions,leadingtostagnationandsocialandeconomiccrises.However,unlikeChina,theyremovedalldistortionsimmediatelywhileimplementingliberalization,privatizationandmarketizationatthesametime,causingthecollapseofmanynonviablefirmsinprivatesectorsandacontractionofGDP,highunemploymentrateandacutesocialdisorders.PartII
QuestionsaboutPartII高級綜合商務(wù)英語2Unit3EconomyWatchQ4.
WhatlessonscanbelearnedfromtheChinamiraclebyotherdevelopingeconomies?(Para.13-16)Theycanadoptadual-trackapproachlikewhatChinahastaken,providingsometransitoryprotectionstononviablefirmstomaintainstabilitybutliberalizingentryintosectorsinwhichtheyhavecomparativeadvantagestotaptheadvantageofbackwardnessinitstechnologicalinnovationandstructuraltransformationtoachievedynamicgrowth.PartII
QuestionsaboutPartII高級綜合商務(wù)英語2Unit3EconomyWatch1.Theaccelerationofgrowthwasaccompaniedbyamoveoflaborfromagriculturetomanufacturingandservices.(Line5,Para.5)Accompanyingthequickgrowthofeconomyisthetransferoflaborersfromtheprimaryindustrytothesecondaryandtertiaryindustries.PartII
SentenceInterpretation高級綜合商務(wù)英語2Unit3EconomyWatch2.China’sexploitationoftheadvantageofbackwardnesshasallowedthecountrytoemergeastheworld’sworkshopandtoachieveextraordinaryeconomicgrowthbyreducingthecostsofinnovation,industrialupgrading,andsocialandeconomictransformation.(Line14,Para.8)Bytakingfulladvantageofitsbackwardness,Chinahasbecometheworld’smanufacturingcenterandhasachievedamazingeconomicgrowththroughthecostreductionininnovation,industrialreengineeringaswellassocialandeconomictransformation.PartII
SentenceInterpretation高級綜合商務(wù)英語2Unit3EconomyWatch3.Thedevelopmentofmodernadvancedindustrieswasperceivedastheonlywaytoachieverapideconomictakeoff,avoiddependenceontheWesternindustrialpowers,andeliminatepoverty.
(Line9,Para.9)Developingmodernadvancedindustrieswasregardedastheonlymeansforthosetransitioneconomiestoboosttheireconomicgrowth,tobeindependentfromWesternindustrialnationsandtoeradicatepoverty.PartII
SentenceInterpretation高級綜合商務(wù)英語2Unit3EconomyWatch4.DuringthetransitionprocessChinaadoptedapragmatic,gradual,dual-trackapproach.
(Line1,Para.12)Duringitstransitionfromcommandeconomytomarketeconomy,Chinahasadoptedapractical,double-waymethod.PartII
SentenceInterpretation高級綜合商務(wù)英語2Unit3EconomyWatchself-sufficient(Para.5)a.abletoprovideforone’sownneedswithouthelpfromotherssynonyms:self-sufficing;self-sustaining
example:
Usingtraditionalmethods,poorfarmerscanbevirtuallyself-sufficient.PartII
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatchexploit(Para.5)v.makegooduseof;takeadvantageofsynonyms:
advantage;explore
example:Thepresidentishopingtoexploitnewopportunitieswithinthegoodbilateralrelationships.PartII
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatchunleash(Para.5)v.tomakelooseorfreefromconstraints;toreleaseorventsynonyms:
release;looseexample:TheCEO’sproposalsunleashedastormofprotestinthecompanyshareholders.
PartII
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatchtrial-and-error(Para.6)n.amethod
ofreachingacorrectsolutionorsatisfactoryresultbytryingoutvariousmeansortheoriesuntilerrorissufficientlyreducedoreliminated.example:Hearguedthatalllearningisatrial-and-errorprocessthatresemblesbiologicalevolution.
PartII
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatchtap(Para.6)v.todrawfrom;tomakegooduseofsynonym:
exploitexample:TheCampbellSoupCompanysaysitwilltrytotapintoJapan’sricemarket.PartII
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatchdefy(Para.10)v.toresistorconfrontwithresistancesynonym:
challengeexample:It’sadevastatingandbarbaricactthatdefiesallhumancivilizations.PartII
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatchpervasive(Para.10)a.spreadingthroughoutsynonym:
permeatingexample:Globalizationhasposedapervasiveimpactuponpeople’slife.PartII
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatchcontraction(Para.11)a.theactofdecreasing(something)insizeorvolumeorquantityorscopesynonym:
cut;reduction;recessionantonym:expansionexample:TherecentcontractioninChinesemanufacturingistheresultofatighteningincreditmarkets.PartII
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatcheradicate(Para.15)v.togetridofsomethingcompletelysynonym:
eliminate;wipeoutexample:ThePrimeMinisterhasmadeasignificantcontributiontoeradicatinggovernmentcorruption.PartII
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatchinclusive(Para.16)a.includingmuchoreverything;andespeciallyincludingstatedlimits;synonym:
comprehensive;all-overantonym:exclusiveexample:Nowthegovernment’staskistounwindtheexceptionalsupportgiventotheeconomyandpushthroughthereformsneededtosustainfastandinclusivegrowth.PartII
WordsandExpressions高級綜合商務(wù)英語2Unit3EconomyWatchIndustrialRevolution(Para.5)TheIndustrialRevolution(1750-1840)beganinGreatBritainandspreadtoWesternEuropeandtheU.S.withinafewdecades.Itwasthetransitiontonewmanufacturingprocesses,fromhandproductionmethodstomachines,newchemicalmanufacturingandironproductionprocesses.Italsoincludedthechangefromwoodandotherbio-fuelstocoal.Itmarksamajorturningpointinhistory;almosteveryaspectofdailylifewasinfluencedinsomeway.Inparticular,averageincomeandpopulationbegantoexhibitunprecedentedsustainedgrowth.PartII
Notes高級綜合商務(wù)英語2Unit3EconomyWatchMichaelSpence(Para.7)MichaelSpenceis
anAmericaneconomistandrecipientofthe2001NobelMemorialPrizeinEconomicSciences.Hechairedtheindependentbody“TheCommissiononGrowthandDevelopment”toexaminevariousaspectsofeconomicgrowthanddevelopment.PartII
Notes高級綜合商務(wù)英語2Unit3EconomyWatchforeigndirectinvestment(Para.8)Aforeigndirectinvestment(abbreviatedasFDI)isacontrollingownershipinabusinessenterpriseinonecountrybyanentitybasedinanothercountry.Broadly,foreigndirectinvestmentincludesmergersandacquisitions,buildingnewfacilities,reinvestingprofitsearnedfromoverseasoperationsandintracompanyloans.Inanarrowsense,foreigndirectinvestmentrefersjusttobuildingnewfacilities.PartII
Notes高級綜合商務(wù)英語2Unit3EconomyWatchrent-seeking(Para.10)Ineconomics,rent-seekingisspendingwealthonpoliticallobbyingtoincreaseone’sshareofexistingwealthwithoutcreatingwealth.Theeffectsofrent-seekingarereducedeconomicefficiencythroughpoorallocationofresources,reducedwealthcreation,lostgovernmentrevenue,increasedincomeinequality,andnationaldecline.Currentstudiesofrent-seekingfocusonthemanipulationofregulatoryagenciestogainmonopolisticadvantagesinthemarketwhileimposingdisadvantagesoncompetitors.PartII
Notes高級綜合商務(wù)英語2Unit3EconomyWatchexternality(Para.13)Ineconomics,anexternalityisthecostorbenefitthataffectsapartywhodidnotchoosetoincurthatcostorbenefit.Apositiveexternality(alsocalled“externalbenefit”or“externaleconomy”)isanactionofaproductonconsumersthatimposesapositiveeffectonathirdparty.Anegativeexternality(alsocalled“externalcost”or“externaldiseconomy”)isanactionofaproductonconsumersthatimposesanegativeeffectonathirdparty.PartII
Notes高級綜合商務(wù)英語2Unit3EconomyWatch
TextBAGameofCatch-up高級綜合商務(wù)英語2Unit3EconomyWatchStructuralAnalysisPara.MainTopics1-8Theworldeconomyhaswitnessedbothgreatdivergenceandgreatconvergencebetweenthewesterncountriesandtherestoftheworld.9-20Theeconomicpowerofthewesternworldhasgonethroughithistoricalgrandeuraswellasrecentdecline.Withemergingmarketscatchingup,manyworriesfromthewesternworldarose.21-25PeoplehaveanxietyovertheriskofAmerica’slosingitstop-dogstatustoemergingmarkets.高級綜合商務(wù)英語2Unit3EconomyWatchQ1:QuarryBankMillisusedasanexampleWhatdoestheauthoraimtotellus?(Para.1-3)TheIndustrialRevolutionhasgreatlyimpactedthecompany’sbusiness.Inaddition,ithasalsoestablishedaglobalhierarchyintheworldwiththewesternworldpossessingmoreeconomicpower(suchasQuarryBankMill’soutsourcingoftheirproductiontopoorercountries).PartI
QuestionsaboutPartI高級綜合商務(wù)英語2Unit3EconomyWatchQ2:Howhasthefinancialcrisistriggeredtheshiftineconomicpower?(Para.4-8)Ononehand,therichworldincludingAmericahasbeengreatlyimpactedbythecrisis,withscanteconomicgrowth.Ontheotherhand,poorcountrieshavetriedtotakeadvantageoftheirbackwardnesstocatchupquickly.Inaddition,duringthefinancialcrisis,developingcountriesboughtgovernmentbondsfromtherichworld(andstoredthemascurrencyreserves)asinsuranceagainstfuturecrises.PartI
QuestionsaboutPartI高級綜合商務(wù)英語2Unit3EconomyWatchQ1:Howhastheeconomicpowerchangedaccordingtothetext?(Para.9-16)BeforetheIndustrialRevolution,IndiaandChinaweretwobiggesteconomicgiantsduetotheirlargepopulation.By1870,Britainranked1stwiththehelpoftheIndustrialRevolution.BytheeveofWorldWarI,AmericahadbecomeNo.1andhasremaineditspositioneversince.Emergingcountries(includingChina&India)havebeendevelopingmuchfasterinrecentseveraldecades,posingthreatstotherichnationsincludingAmerica.PartII
QuestionsaboutPartII高級綜合商務(wù)英語2Unit3EconomyWatchQ2:Withemergingmarketsgainingmoreeconomicpower,therearesomeconcernsrelatedtoit.Whatarethey?(Para.17-20)The1stworryisaboutdirectcompetitionforlimitednaturalresourcesavailableaswellasthespecialstatusandperksthatcomewithbeingtheissuerofatrustedinternationalcurrency.The2ndanxietyrelatestojobsecurityandpay,especiallywiththeimpactofoutsourcing.The3rdconcernisthattheemergingmarketsarepronetocrisesandunlikelytobesustained.PartII
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