大學(xué)外貿(mào)英語chapter 1 The Global Economic Crisis

Chapter1

TheGlobalEconomicCrisis世界經(jīng)濟(jì)危機(jī)Warm-upQuestionsWhatistheglobaleconomiccrisis?Whatcausedthecrisis?Howcanwedealwiththecrisis?Newwords1todeterioratevi.惡化〔deterioratingeconomiccondition不斷惡化的經(jīng)濟(jì)形勢=worseningeconomicsituation)2prolongeda.長期的〔long-lasting)3appreciationn.評估〔withoutadequateappriciationoftherisk,缺少對風(fēng)險(xiǎn)的正確評估，動詞為appreciate〕4duea.應(yīng)有的(duediligence應(yīng)有的謹(jǐn)慎)5underwritingstandards承保標(biāo)準(zhǔn)Newwords6unsounda.不健全的〔unsoundmanagementpractices不健全的管理做法/行為〕7opaquea.不透明的(nottransparentorlackingtransparency)8leveragen.此課文中作“影響〞講〔excessiveleverage過度的影響〕9vulnerabilityn.脆弱性10toaddressvt.應(yīng)對；專心致力于……Newwords11ramificationn.后果〔一般用復(fù)數(shù)，如:theramificationsofaproblem)12underlyinga.根本的；主要的〔underlyingfactors主要因素〕13unsustainablea.不能持續(xù)的，支撐不住的14swineflu豬流感(與H1N1flu意同)15pandemicn.大流傳；廣泛傳染〔指傳染病〕Newwords16virusn.病毒17tocombatvt.跟……作斗爭18flagginga.逐漸衰退的，逐步萎縮的〔shrinking〕19unfreezevt.使解凍20criticala.重要的EconomicTermsEconomicTermsUsefulPhrasesandIdiomaticExpressions1manyacountrymanycountries(manya許多，a后接名詞單數(shù)〕2buildingup正在逐步增大/擴(kuò)大〔theriskbuildingup正在擴(kuò)大的風(fēng)險(xiǎn)〕3tokeeppacewith...與……齊步前進(jìn)〔tokeeppacewithfinancialinnovation跟上金融革新的步伐〕4totakeintoaccount考慮(=consider)UsefulPhrasesandIdiomaticExpressions5amongothers文中當(dāng)“除其它因素外〞(=apartfromotherfactors)6〔to〕contributeto...導(dǎo)致；引起〔tobelievesth.tobetheresultofsth.else〕7〔be〕conduciveto...有益于；有助于〔beconducivetofiscalstability有助于財(cái)政穩(wěn)定〕NotesNotesWorldBank世界銀行DefinitionItreferstoworldwideeconomicslowdownorrecession.Someeconomistsalsoregardglobaleconomiccrisisasdeterioratingeconomicconditionsonaworldwidescale.Manypeoplebelievethecurrentglobalslowdown,toalargeextent,wasofAmericanmaking,whichbeganfirstinAmericaintheformoffinancialcrisisinSeptember2021thenquicklyspreadtothefourcornersoftheworld.IllustrationsHousingindustryFDICreditcrunchConsumerspendingStockmarketUnemploymentrateBudgetdeficitsNumberofinternationaltouristsRichpopulationGDPgrowthCausesNoadequateappreciationoftherisks,failedtoexerciseproperduediligence;weakunderwritingstandards,unsoundmanagementpractices,increasinglycomplexandopaquefinancialproducts;excessiveleverage→vulnerabilitiesinthesystemNoadequateappreciationandaddressoftherisksbypolicy

makers,regulatorsandsupervisorsinsomeadvancedcountries→noproperactionsinconsistentandinsufficientlycoordinatedmacroeconomicpolicies,inadequatestructuralreforms;unsustainableglobalmacroeconomicoutcomes→excesses;severemarketdisruptionNegativeimpactsofswinefluorpandemicofH1N1Virusonaglobal.scaleWaysofCombatingtheCrisis1

Providingliquidityincludinghelpingemerginganddevelopingeconomiesgainaccesstofinanceincurrentdifficultfinancialconditionssoastounfreezecreditmarkets2

Strengtheningthecapitaloffinancialinstitutions3

Protectingsavingsanddepositsofthepeopleandenterprises4

Addressingregulatorydeficienciesbyenhancingsoundregulation5

Ensuringthatinternationalfinancialinstitutions(IFIS)canprovidecriticalsupportfortheglobaleconomy6

Reforminginternationalfinancialinstitutionsbyenablingthepoorestcountriestohaveagreatervoiceandrepresentation7

Usingbothfiscalandmonetarymeasurestostimulatedomesticdemandwhilemaintainingapolicyframeworkconducivetofiscalstability8

EnsuringthattheIMF1andWorldBank2andotherinfluentialfinancialinstitutionshavesufficientresourcestocontinueplayingtheirroleinovercomingthecurrentworldeconomiccrisis9

Reinforcinginternationalcooperationinthefieldofworldeconomicdevelopment10

Steppingupfinancialsupervisionandregulation11

FightingallsortsoftradeprotectionismTheWorldEconomicOutlookfor2009andBeyondDuetosubstantialslowdownintheworld’smajoreconomies,theglobaloutlookfor2021hasweakened,full