《商务英语综合教程》UNIT 8 Economic Bloc

商务英语综合教程AnIntegratedCourseofBusinessEnglish2UNIT8EconomicBlocPre-readingQuestionsNotestoTextAKeytoExercisesNotestoTEXTBPre-readingQuestionsWhatdoyouthinkisthemainpossiblereasonforacountrytoenterintoaregionaleconomicunionorafreetradezone?Whatmightbethereasonsforamemberofaneconomyuniontowithdrawfromit??TEXTATheImpactofBrexitontheBritishPound&UKEconomyLastweek,theBritishPoundhitathreemonthhighagainstabasketofitsmajorcurrencyrivals,followingapollthatshowedthe‘BremainIn’campwasconsolidatingan18pointleadintheupcomingreferendumonBritain’sstatusintheEuropeanUnion.InanIPSOS-MORIpollbytheBritishEveningStandardnewspaper,55%supportedstayingintheEuropeanUnion,whilstonly37%wantedBrexit.Theonlinebettingfirm,Betfair,goesfurtherbyimplyingtheprobabilityofBritainstayinginsidetheEUonJune23tobeat76%,upfromaninitialverdictof73%.It’snotlookinggoodforex-LondonMayorBorisJohnson,orUKIPleaderandlifelongflagbearerforBrexit,NigelFarage.AccordingtoDanielAbrahams,CEOoftheonlinemarket-place

CurrencyT,“Whilstopinionsonstaying‘In’or‘Out’vary,theCityseemstobeinfullagreementthattheBritishPoundhasfurthertorise,astheBrexitriskrecedes.Conversely,inaBrexitscenario,Sterlingwouldlikelybesoldoffsharplyanddepreciate.”Recently,ChancellorGeorgeOsbornesaidBritainwouldbepooreroutoftheEU,andCEOofSantander,NathanBostock,saidthatBrexitwouldbeabadfortheBritisheconomyinthelongtermandwouldimpactthebank’sbalancesheet,duetotheexpectedfluctuationsintheGBPEURcurrencypair.It’soneofthemostopinionatedreferendumsofalltime.BrexitcouldknockrentsandstockmarketsResearchfromtheCentreforEconomicsandBusinessResearchsuggeststhatBrexitcouldcauseUKhousepricestodropbyanaverageof£2,000,coupledwithafallinthestockmarkets.TradebodiesrepresentingestateagentsandlandlordssuggestedBrexitwouldcutrentbillsasimmigrationlevelswoulddrop,shrinkingrentaldemand.Therewouldalsobearesultingknock-onimpactofaskillsshortageofconstructionworkers.

Conservative

Ex-MayorBorisJohnsondisagrees,callingtheEU‘abadlydesignedundergarmentthathasbecomefartootightandconstrictive’.ThosebackingBrexitsaythattheCityofLondonistheworld’smajorfinancialcentre,whichwillonlystrengthenitsposition,retainingfullaccesstocapitalmarkets.

ThecoreargumentfromseniorPro-BrexitbusinessleadersisaroundEUredtapesuffocatingtheBritisheconomy,suggestingthatamongstthe85%ofsmallercompaniesthatarecreatingjobs,90%don’teventradewiththeEuropeanUnion.We’reoftenremindedEUcountriesmakevastamountsofmoneyfromUKimportersanditwouldbecounterproductivetomaketradeharderforBritishbusiness.

ImpactontechnologycommunityTheFinTechcommunityisscaredofBrexit,withEntrepreneurslookingonwithcaution.AccordingtoDaniel,“IfyoulookattheexampleofpaymentfirmsregulatedbytheFCA,thispermissiongivesyourstartupapassportintoEurope.WouldBrexitsuddenlymeancountry-by-countrylicensingisrequired?Thestakesarehigh,andtheriskoftheunknownisnotgoodforstartups,venturecapitalortheecosystemasawhole.”InastronglywordedMediumpost,MichaelKentofremittancefirmAzimogoesfurther,saying“BrexitwouldbeadisasterforUKFinTech

onsomanylevels...TheEUistheworld’sbiggestsinglemarket:28memberstates,508millionpeopleandaGDPof$18.5trillion.Timeandagain,that’sthestatisticthatgetsinvestorsandentrepreneursexcited.Removethatmarketopportunityandwe’llallhavetogosomewhereelse.”KenthasaddedhissignaturetotheEntrepreneursINopenletterfortheBritainStrongerINEuropecampaign.WhatdoesBrexitreferendummeanforbusinesseswithinternationaloperations?The

impactofBrexitonUKbusiness

hassomanyopinions,onbothsidesofthefence.However,itiscertainlycausingvolatilityinthecurrencymarkets,whichaffectsbothSMEsandindividualswhooperatecross-borders.WhetheryouarebuyingwinefromFranceorexportingtechnologytotheUS,orevenjustservicingpropertyexpensesforyoursecondhomeinSpain,yourcostscanfluctuateconsiderably.Thegoodnewsisthereissomethingyoucandoaboutit.Thereareacoupleofbusinessfocusedcurrencymanagementplatformsyoucanmaximize.Themoneytransferplatformprovidedletsyouchoosefromthebestratesforcurrencyconversions.Itequallyoffersyoucurrencyhedgingsolutions,enablingyoutoeliminatecurrencyriskfromyourinternationaloperationsandbetterbudgetyourexposuresacrosstheyearahead.Howdoeshedgingwithaforwardcontractwork?Ifyouwantto

ensurethatyouroverseasrevenuesarenotaffectedbyadversemovesinthecurrencymarket,thenenteringintoFXforwardcontractsisthebestwaytoensurestablerevenuestreams.FXforwardsareacurrencyproductthatletyouagreeanexchangerateforabuyorselltransactionforaspecificcurrencypairatafuturedate.Thinkofitas‘buynow,paylater.’Forexample,ifyouknowyouareaUKimporterandwanttobuyEUR10,000attheendofthemonth,thenyoucouldenterintoaone-monthforwardcontractthat‘locksin’theexchangerateatwhichyouwilltransfertheEUR10,000fromGBP.Ifafter30dayssterlinghasweakenedagainsttheeuro,itwillhavenobearingonyourcurrencytransfer,astherateatwhichyouareexchangingyourEUR10,000fromGBPhasbeenpreviouslyagreedone.Youhaveeffectivelymitigatedtheriskofadversecurrencyfluctuations.Today,globalcurrencymarketsareincreasinglyvolatile,meaningitisincreasinglyimportantforindividualsandbusinessoperatinginternationallytohaveasensiblecurrencyhedgingandplanningstrategyinplacetoensurepredictabilityandpreserveprofitability.NotestoTextABrexit

Brexit（或Brixit）是对英国退出欧盟的一种戏谑说法，即BritishexitorBritainexitingfromtheEU，“脱欧”。后文的Pro-Brexit指的是“亲脱欧派”。英国于1973年加入欧盟的前身欧洲经济共同体，简称欧共体(EEC)，1975年通过全民公决以67%的票数正式成为欧共体成员。自二十世纪90年代，一些保守党人和新成立的英国独立党开始支持英国脱离欧盟。.Lastweek,theBritishPoundhitathreemonthhighagainstabasketofitsmajorcurrencyrivals,followingapollthatshowedthe“BremainIn”campwasconsolidatingan18pointleadintheupcomingreferendumonBritain’sstatusintheEuropeanUnion.上周，一项民意测验表明，在即将到来的有关英国在欧盟中去留问题的全民公决中，留欧阵营领先了18个百分点，形势得以进一步巩固。消息一出，英镑与篮子货币中的主要货币的汇率创下了三个月以来的新高。hitathreemothhigh创下了三个月以来的新高against:介词，兑换……,换取……该词在商务英语中很常见，如：NotestoTextAtheexchangerateofRenminbiagainsteuro:人民币与美元的汇率documentagainstpayment付款交单（即拿单证去换取货款支付）abasketofmajorcurrencyrivals:货币篮子中的其他竞争货币（即美元、日元、欧元、人民币）

所谓货币篮子，是国际货币基金组织的特别提款权（SDR，SpecialDrawingRights）所含的货币组合，SDR不是一种货币，他是国际货币基金组织的一种记账单位，其价值按上述几种货币的权重和汇率算出，其权重是按各货币发行国或经济体在世界贸易体系中的权重与投资来定的。BremainInCamp:留欧阵营，即支持英国继续留在欧盟的派别。consolidate:巩固，加强Referendum:全民公决3.Theonlinebettingfirm,Betfair,goesfurtherbyimplyingtheprobabilityofBritainstayinginsidetheEUonJune23tobeat76%,upfromaninitialverdictof73%.6月23日，互联网博彩公司必发，进一步暗示英国留在欧盟的可能性为76%，比最初判断的73%还要高。betfair:必发，是全球成交量最大的互联网博彩公司。它可以对全球重要性的事件，尤其是体育赛事开出胜平负盘口，让投资者、博彩者或者投机者投注，以此获得利润。例如，必发为英国留欧的可能性开出1赔4的盘口，为脱欧的可能性开出1赔6的盘口，在这种情况下，多半是betfair认为英国留欧的可能性大。但是，这也可能是博彩公司设下的圈套，使大量资金押在英国留欧的可能性上，而实际上后来英国脱欧了，从而大赚一笔。initialverdict:最初的判断，即最先开盘的时候，给出73%的留欧可能性。一般而言，如果博彩公司判断某种可能性大，那么这种可能性的投注赔率就会相应降低，若民意测验表明留欧可能性增加到80%，那么赔率就可能会降到1：1.5甚至低到1：1.09，使投注这种可能性几乎没有任何意义。对于离奇的可能性，博彩公司往往开出的赔率十分高。比如，假设中国打入世界杯外围赛，它可能为中国队开出世界杯夺冠的赔率，比方说为1：1005，当然，这种赔率对于中国队夺得世界杯那是天方夜谭。NotestoTextA4.It’snotlookinggoodforex-LondonMayorBorisJohnson,orUKIPleaderandlifelongflagbearerforBrexit,NigelFarage.对于前任伦敦市长BorisJohnson,或者对于英国独立党领袖、英国脱欧阵营的终身掌旗者NigelFarage来说，这并不是什么好消息。ex-,表示“前任”，如ex-mayor，前任市长UKIP:UnitedKingdomIndependenceParty英国独立党，是一个反泛欧主义（Euroscepticism）而宣扬英国独立性的政党，反对英国继续留在欧盟内。flagbearer:扛旗帜的人，喻指舵手、指引前进方向的人、领袖。5.theonlinemarketplace

CurrencyT货币转移（CurrencyTransfer）是一个商业外汇价格比较市场。国际业务支付费用是昂贵的、不透明的，也有高达5％的利润。CurrencyTransfer的目的是通过让货币专家维持货币流通率，从而使市场变得透明化和公正化。NotestoTextAWhilstopinionsonstaying‘In’or‘Out’vary,theCityseemstobeinfullagreementthattheBritishPoundhasfurthertorise,astheBrexitriskrecedes.Conversely,inaBrexitscenario,Sterlingwouldlikelybesoldoffsharplyanddepreciate.尽管有关留欧和脱欧的看法不一，但整个伦敦市似乎普遍认为，随着脱欧风险释放，英镑将继续攀升。相反，如果剧情朝脱欧演绎，英镑很有可能被大甩卖而贬值。whist:while的意思，表示“转折”。beinfullagreement:完全同意Britishpound和sterling都是指“英镑”。recede:消退，退去。这里指“脱欧”风险释放，如：Dealers

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recede正当我开始觉得自己永远都好不了了的时候，我的病开始好转了。NotestoTextATherewouldalsobearesultingknock-onimpactofaskillsshortageofconstructionworkers.这将会给缺乏熟练建筑工人的局面带来巨大的影响。8.callingtheEU‘abadlydesignedundergarmentthathasbecomefartootightandconstrictive称欧盟为“一件设计得糟糕透顶的内衣，太紧了，太让人压抑了”9.ThecoreargumentfromseniorPro-BrexitbusinessleadersisaroundEUredtapesuffocatingtheBritisheconomy,suggestingthatamongstthe85%ofsmallercompaniesthatarecreatingjobs,90%don’teventradewiththeEuropeanUnion.倾向于脱欧的商界领袖所争论的核心问题在于欧盟的繁文缛节，这些东西窒息了英国经济的增长。这些脱欧派认为，在创造就业的85%小公司中，有90%与欧盟并没有业务往来。

10.TheFinTechcommunityisscaredofBrexit,withEntrepreneurslookingonwithcaution.

金融科技介担心脱欧，实业家们小心翼翼地关注着事情的动态。

FinTech一词由finance和technology构成，即一种利用技术提供金融服务的公司所构成的业界。bescaredof……担心，害怕TheParisianswerescaredofterrorists.巴黎人害怕被恐怖分子。lookon旁观，袖手旁观onbothsidesofthefence:各说各的好，各说各的理Hedging:

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riskvt.Hedge:tominimizeorprotectagainstthelossofbycounterbalancingonetransaction,suchasbet,againstanother对冲，海琴业务13.ThenenteringintoFXforwardcontractisthebestwaytoensurestablerevenuestreams.enterinto(+contract,agreement)签订合同（合约）enterinto(+organization,institution,association,club,etc)加入机构、组织、协会、俱乐部注意当enter表示进入某个地方时，则直接加地名：Thetwocountriesenteredintoatruceagreementafterdecadesofborderconflict.在经历了数十年的边境冲突之后，两国签署了停战协定。Iwillenterintoacontractwiththepublisherastoroyaltyandcopyright.我要和出版商签订一个有关版税和版权的合同。DoyouknowwhenChinaenteredintotheIMF?你知道中国何时加入国际货币基金组织的吗？Theteacherenteredtheclassroombeforeeverybodyelse.老师经其他任何人都先进教室。延伸：enterupon=takepossessionof控制，占有Thefamilyentereduponhundredsofhectaresoffertileland.这个家族占有了数百公倾的良田。revenuestream:收入来源，指企业或者政府的收入来源形式，能够带来收益的任何活动均可以被称作revenuestream，企业有多种收入渠道，除了税收以外，政府也会采取多种收入来源。FXforwardcontract:见教材第129页和第130页Note10andNote11.14.enterintoaone-monthforwardcontractthatlocksin’theexchangerateatwhichyouwilltransfertheEUR10,000fromGBP签订一个为期一个月的远期（外汇）合同，合同锁定汇率，按此汇率将一定数量的英镑兑换为10000欧元。练习答案I.Decidewhethereachofthefollowingstatementsistrueorfalse.1.T 2.T 3.T 4.F 5.T 6.TII.Answerthefollowingquestions.Apollthatshowedthe‘BremainIn’campwasconsolidating.By18pointleadBritainwouldstayinsidetheEU.Britishpoundwouldbesoldoffanddepreciatesharply.No.BritainwouldbepooreroutoftheEU.Brexitwouldcutrentbillsasimmigrationlevelswoulddrop,shrinkingrentaldemand.Andaccordinglythenumberofconstructionworkerswoulddecrease.TheyhopeforBrexitbecausetheybelievethatEU’sconstrictionsimpededBritain’seconomicdevelopment.Theywouldlosealotofopportunitiesintheirbusinessandhavetoseeknewsourcesofprofits.TextComprehensionHedgingmeansanytechniquedesignedtoreduceoreliminatefinancialrisk,forexample,takingtwopositionsthatwilloffseteachotherifpriceschange.Employeestockoptions

(ESOs)aresecuritiesissuedbythecompanymainlytoitsownexecutivesandemployees.Thesesecuritiesaremorevolatilethanstocks.AnefficientwaytolowertheESOriskistosellexchangetradedcallsand,toalesserdegree,

tobuyputs.CompaniesdiscouragehedgingtheESOsbutthereisnoprohibitionagainstit.Aforwardcontractisacustomizedcontractbetweentwopartiestobuyorsellanassetataspecifiedpriceonafuturedate.Aforwardcontractcanbeusedforhedgingorspeculation,althoughitsnon-standardizednaturemakesitparticularlyaptforhedging.Unlikestandard

futures

contracts,aforwardcontractcanbecustomizedtoanycommodity,amountanddeliverydate.Aforwardcontractsettlementcanoccuronacashordeliverybasis.Forwardcontractsdonottradeonacentralizedexchangeandarethereforeregardedasover-the-counter(OTC)instruments.Whiletheir

OTC

naturemakesiteasiertocustomizeterms,thelackofacentralizedclearinghousealsogivesrisetoahigherdegreeof

defaultrisk.Asaresult,forwardcontractsarenotaseasilyavailabletothe

retailinvestor

as

futurescontracts.III.Explaintheunderlinedpartofthefollowingsentences.strengtheningbyalargemarginof18percentinthereferendumtocomeBremain-in;thepredictionattheverybeginningwiththegradualdecreaseofthepossibilityofwithdrawingfromtheEUTohaveareferendumaboutBrexitisstubbornandunreasonablebecauseitwillhavesomanyobviousnegativeimpactsontheUK.EUhassetforthmanyrestrictionsonitsmembersandthereforewe,asamemberofit,couldnotbringintofullplayoureconomicpotentialsfocusingontheEU’sobstructiveandoppressiveofficialroutinesorproceduresthatseriouslyhamperthegrowthoftheBritisheconomyThispermissiongivesyournewlyemergingcorporationanopportunitytogetaccesstoEUmembercountries.makinginterestpaymentsonahouseyouboughtinSpainmakeabetterplantoevadepossiblefinancialrisksinthecomingyearYouhaveablyreducedtheriskofcurrencyfluctuationsthatmaybeunfavorabletoyou.

I.Matchthewordsandexpressionsontheleftwiththeexplanationsontheright.1.c 2.b 3.f 4.h 5.a6.j 7.i 8.e 9.d 10.gII.TranslateeachsentenceintoChinese,payingspecialattentiontotheunderlinedwordsorphrases..当前的经济繁荣和暴跌的油价使人们喜欢上了高油耗汽车（油老虎）。n.繁荣公共交通系统还不能充分满足迅速发展的旅游业的需求。n.快速发展一名持枪歹徒在SandyHook小学枪杀了20名儿童和6名成人之后，美国的枪支销售增加了。（vi.增加）隆隆的迫击炮声打破了夜晚的沉寂。（n.隆隆炮声）喇叭中传出低沉的音乐声。（vi.发出低沉的声音）所有短期美元债务的偿付成本突然增长了1.4倍。（vt.支付债务的利息）该国几乎1/4的出口收入都用来支付290亿美元外债的利息了。（vt.支付利息）现在总部有400名职员负责地区和海外事务。（vt.维修、检修）他已经把车送到街对面那个汽修厂进行检修了。（vt.维修、检修）Vocabulary该军团是专门为在印度作战而从苏格兰高地征募来的。（n.服役）不稳定局面多半是由战争对经济的影响造成的。（vi.源自）奥地利已派出3个营的兵力去本国和匈牙利交界的边境地区阻止非法移民的流入。（vt.阻止）他嘴里叼着烟斗柄，满腹狐疑地打量着她。（n.烟斗）南非一则电视新闻报道称，一艘货船从头到尾都着了火。

（n.船头）公司降低产品价格后，一些欧洲国家就进行了反倾销调查。（hand:n.outofhand立即）秘书作了速记笔记。（shorthand:n.速记）农村劳力缺乏的困难户可以生第二胎，两胎要间隔在三年或者三年以上。（shorthanded:缺乏人手的）许多拉美人将记住九十年代的“大甩卖”：从造船厂到钢铁厂，上千亿美元资产易手，从提华纳到火地岛，拉丁美洲完全变了样。（易手，指所有权变更）他被总经理精心挑选出来，对欧洲和北美市场的光伏产品的需求进行一次市场调查。（vt.挑选）该计算机课程包括手把手培训。（hands-ontraining亲手培训）Completeeachofthefollowingsentenceswithanappropriateformofthewordgivenintheparentheses.consolidation 我们还支持在欧元区加强财政巩固与增长的措施。remittance MoneyGram是一种世界范围内的快捷的人际间的汇款方式，十分钟内，汇款人就可将钱汇付给收款人，速度与方便是这种方式的主要特征。（比微信差远了！）volatility 我们重申，外汇市场过度不稳与无序给经济和财政稳定带来了负面影响。variation 在信息不对称的情况下，全国各地市场的物价可能相差很大。

conversion 这幅画刻画了保罗在去大马士革的路上是如何皈依基督徒的。（圣经故事）implication 婚姻不忠提高领导人可信度的暗示荒谬之及。constrictive虽然很多人对预算有负面情绪，因为他们觉得这是紧缩控制，但你应该意识到预算允许你更自由。hinder 肆虐的疾病和不断恶化部落冲突将进一步阻碍中非各民族的生活水平的提高。elimination消除和预防爱滋病的工作也取得了进展。receded一对兄妹在受到老鼠警告即将到来的洪水之后，把自己密封在鼓里。待洪水退却后，又钻了出来。IV.Givethesynonymsandantonymsofthefollowing.1.opinionated

synonyms:dogmatic,biased,prejudiced,stubborn,bull-headed,bigoted,obstinate,single-minded,assertiveantonyms:(tolerant,open-minded,compromising,receptive,compliant,unbiased,dispassionate,broad-minded,unprejudiced,unbigoted.)2.shrinksynonym:decrease,dwindle,lessen,reduce,diminish,contract,wither,shrivelantonym:increase,expand,grow,enlarge,inflate,dilate3.recedesynonym:withdraw,regress,retreat,dwindle,lessenantonym:advance,progress4.adversesynonyms:opposite,injurious,inopportune,disadvantageous,detrimental,negativeantonyms:promising,fortunate,helpful,beneficial,favorable,advantageous,auspicious,opportuneCompleteeachofthefollowingsentenceswiththewordsorphrasesprovidedinthebox,changingtheformifnecessary.hitarecordhigh所以第一个问题是希腊的削减引发的是希腊窘境的恶化：经济持续萎缩，失业率达到了创记录新高16.2%。inagreementwith 一些学校将作出相应的调整，以与课程改革保持一致。inthelongrun 从长远观点看来，削减公司开支会带来利润。coupledwith强大的技术研发和健全的管理体系结合起来，确保了产品的质量。selloff股市垂直下跌（自由落体），投机者不得不抛售股票，亏损累累。knock-onimpact 脱欧将对外汇市场带来深远的影响，外汇市场又会对旅游市场带来巨大的冲击。redtape那些希望到印度投资的外国公司报怨因拖沓和腐败则受阻。enterinto他心里暗暗记住，顾客至少要看上去能付得起钱，他才会去和他们搭话。tothefore这个问题在昨天两国首次战略经济对话中再次提了出来。outofhand当一位没有经验的老师为负责这个有问题的班时，全班完全失控了。Cloze

CABAD ADBCD BBBCC ADDACGrammarI.(Omission)II.Completeeachofthefollowingsentenceswithasorlike.1.like 2.like 3.Like 4.like,like 5.like6.as 7.as,like 8.Like 9.as 10.asIII.Choosethebestanswer.1.A 2.A 3.D 4.B 5.D 6.C 7.C 8.C 9.C 10.B11.C 12.B 13.C 14.A 15.D quadrupleby2014hasshrunkmorethanfourtimeshavereduceduptofivetimesisfourtimeslessefficientintheproductionofbulldozersincomparisonwithCountryBhavemorethandoubled;haveclimbedanaverage75.5%60percent;$586billioneconomic-stimuluspackage;morethandoublethepercapitashareforChina’s1.3billionpeopleIII.Choosethebestanswer.1.D 2.B 3.C 4.A 5.D6.B 7.C 8.B 9.C 10.DTranslationTranslatethefollowingintoChinese.政府对私有企业更为细心的监督才是更为现实的抉择。巴西总统卢拉在他最为激昂的一次公众演讲中抨击了负责电信和电力部门的独立政策制定机构。他指责费率的陡升给通货膨胀火上浇油。问题远比这要复杂得多。公司收取的费率往往与批发价格指数紧密挂钩，而后者的年均涨幅达到了22％。卢拉的不满导致了人们猜测他的政府可能试图对将来费率增加的决策采取更为直接的干涉。但一些行政官员认为这样的市场干预可能会带来一些不好的先例；再者，专家们认为真正的问题在于巴西能源部门的私有化程度还远远不够。虽然私营企业的发电量占巴西的四分之三，但政府仍然控制了80％的发电。试图以这种方式来定价简直是一场噩梦。“在一个由政府操纵市场的国家里，促进竞争无异于天方夜谭，”在九十年代初供职于巴西能源秘书处的彼得·格莱内尔说。TranslatethefollowingintoEnglish.Today,theforeignexchangemarketisincreasinglyvolatile,sobothimportersandexportersshouldutilizesuchfinancialderivativestoevaderisksarisingfromexcessivefluctuations.Ifeartheconservativeattitudeswhichaccompanysuchagrayingmaysuffocateinitiativeandstifledynamism.Forsomanyyears,hestubbornlyanchoredhisopinionatedviewratherthanacceptnewideasorconceptswithanopenmind.AspokesmanfortheStateDepartmentoftheU.S.expressedthatitwouldbecounterproductivetosetatimeframefortheupcomingnegotiationbetweenPalestineandIsrael.IftheRepublicancandidatesuccessfullyiselectedaspresident,itwillundoubtedlyhaveaknock-onimpactonAsiangeopolitics.We

can

never

eliminate

financial

crises,

but

we

can

reduce

their

likelihood

and

severity.

SinceLatinAmericancountrieslackasoundbankingsystem,theyaresusceptibletofinancialcrisis.Hebelievedthattheshootingincidentwouldhavenobearingontheforthcomingsummitmeetingiffoolproofsecurityarrangementswereputinplace.Atthattime,someChineseautomakerswereafraidofChina’sadmittancetotheWTObecausethatwillbringthemenormousshock.Bothpartieshavetherighttolawfullyenterintoacontractinaccordancewiththelaw.

SupplementaryReading1.D2.C3.C4.D5.A6.B7.C8.ANotestoTEXTB1.Theaccumulationofmassiveandunsustainabledef