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高三英语寒假每日一练Day16(Economy经济)关键词:RisingpricestriggerprotestsasFed'sinterestratehikescausespillovereffectsworldwideUSactorsBryanCranstonandAaronPaulmetagaininAugust.ThistimenotforthereunionoftheBreakingBadseries,butonthepicketlineinsolidarityprotestswithotherHollywoodactors.Speakingtothecrowd,Cranstonsaid,"Wejustwantthemtoseerealityandfairnessandcomebacktothetableandtalktous."Strikingactorsstartedtherallyinmid-July,morethantwomonthsafterscreenwritersbeganprotestsintheirbidtogetbetterpayandworkingconditionsundertheinfluenceofstreamingservicesandartificialintelligence.Thecelebrity-packedpicketlinesbroughtmoreattentiontotheso-calledHollywooddoublestrike—writersandactors—unseenin60years.Fromcoasttocoast,awaveofstrikeshasgrippedtheUSthroughout2023,ripplingacrossindustriessuchaslogisticsandautomobiles.Thecountry'sUnitedAutoWorkersunionbeganastrikeinmid-SeptemberagainstalltheBigThreeautomakers,namelyFordMotor,GeneralMotorsandStellantis.Thefirst-everstrikeofallthreeatonceintheunion's88-yearhistorycameafterfailedtalksonnewcontracts.Inthepast50yearsacrosstheUnitedStates,therehasbeenamassiveredistributionofwealth,VermontSenatorBernieSanderssaidatarally,highlightingtherisingsalariesoftheCEOsoftheBigThreeautomakers.Againstthisbackdrop,theunionhadreportedlybeennegotiatingforsignificantlyhigherpayandnewbenefits."Afterthepandemic,theUSeconomygrappledwithsluggishgrowthandencounteredintensecompetitionfromothercountries,presentingchallengesforbusinesses,"WangZhen,aresearchprofessorofinternationalpoliticsattheInstituteofInternationalRelations,ShanghaiAcademyofSocialSciences,toldChinaDaily.Duringthepandemic,theUSimplementedstimuluspackagestobolstertheeconomy."Thefiscalexpansionpoliciesledtohighinflationandelevatedthecostoflivingfortheworkingclass,"Wangsaid."Inaddition,technologicaladvancements,particularlyartificialintelligence,haveencroacheduponthetraditionalinterestsofcorporateworkers,promptingthemtotaketothestreetstodefendtheirrights."TheUSinflationratestartedtogrowatamorethan2percentratefromMarch2021andpeakedat9.1percentinJune2022toa40-yearhigh,accordingtotheUSBureauofLaborStatistics.Totameinflation,theUSFederalReserveraiseditsbenchmarkpolicyinterestrate11timessinceMarch2022fromthenear-zeroleveltothecurrent5.25-5.50percentrange,markingthefastestpacein40years.WhatpromptedtherallyofactorsandwritersinHollywood?A.ThecelebrationofsuccessfulTVseriesB.ThelaunchofnewstreamingservicesC.BetterpayandworkingconditionsD.ThereleaseofartificialintelligencemoviesCorrectanswer:C.BetterpayandworkingconditionsWhatisthefocusoftheUnitedAutoWorkersunionstrike?A.AdisputebetweenautomakersandmoviestarsB.TheupgradingoftraditionalworkingconditionsC.HighersalariesandnewbenefitsD.StimuluspackagesfortheautoindustryCorrectanswer:C.HighersalariesandnewbenefitsWhatcausedtheUSinflationratetoreacha40-yearhigh?A.AdecreaseininterestratesB.SuccessfultechnologicaladvancesC.FederalstimuluspackagesD.AsurgeinpricesforgoodsandservicesCorrectanswer:D.AsurgeinpricesforgoodsandservicesWhatwasthereasonbehindtheUSFederalReserve'sfrequentinterestratehikes?A.TospureconomicgrowthafterthepandemicB.ToaddresssluggishinflationratesC.TocounteracttheeffectsoftechnologicaladvancementsD.ToimprovecompetitionwithothercountriesCorrectanswer:B.ToaddresssluggishinflationratesWhatwastheoveralleffectofthepandemicandtechnologicaladvancementsonbusinesses?A.IncreasedprofitabilityandexpansionB.SlowgrowthandcompetitivechallengesC.LimitedaccesstostimuluspackagesD.ReducedcompetitionwithothercountriesCorrectanswer:B.SlowgrowthandcompetitivechallengesCorrectanswers:1.C.Betterpayandworkingconditions2.C.Highersalariesandnewbenefits3.D.Asurgeinpricesforgoodsandservices4.B.Toaddresssluggishinflationrates5.B.SlowgrowthandcompetitivechallengesPassage2:"TheFedisasaggressiveasithasbeensincetheearly1980s,"ChrisTurner,globalheadofmarketsattheDutchbankinggroupING,wasquotedbyCNNassaying."They'rewillingtotoleratehigherunemploymentandarecession",hesaid."That'snotgoodforinternationalgrowth."Eventhoughinflationhaseasedfromapeakof9.1percentlastyear,itremainstoohighfortheFed.TheUScentralbanksaiditremains"highlyattentivetoinflationrisks"andthatitisstronglycommittedtoreturninginflationtoits2percentgoalasitleftinterestratesunchangedonaDec13meeting,athirdpausefromSeptember.Therate-settinggrouppointedtorecentindicatorsshowingthateconomicactivityhasslowedinthethirdquarter.Thehighrateshaveputthebankingsystemunderpressure,whichhasseenthecollapseofSiliconValleyBankandSignatureBankinMarch,andthefailureofFirstRepublicBankinMay.Elsewhere,UBSagreedinMarchtobuyCreditSuisseinarescuemovetoavertabankingsectormeltdown."RippleeffectsofUSfinancialsystemstrainscouldleadtotightercredit,sharperslowdownworldwide,"saidareportbyTheWallStreetJournalearlierthisyear."TurmoilintheUSbankingsectorisn'tjustaproblemfortheUS.Italsoincreasestherisksofaglobalrecession."XuGao,chiefeconomistatBankofChinaInternational,toldChinaDaily,"AfterthecollapseoftheSiliconValleyBank,thegrowthrateofcreditextendedtoentitiesbytheUSbankingsystemshowedaslowerpace."Oncetheaccumulatedliquidityisdrained,theimpactofsubsequentliquiditycrunchisexpectedtomanifestintherealeconomy."CitingthemanufacturingpurchasingmanagersindexintheUSwhichhasrununder50sinceNovemberlastyear,Xusaid,"AlthoughtheUSeconomyseemstobedoingwellthisyear,itsroleasadrivingforceforglobaleconomicgrowthhasdeclined."TheWorldEconomicOutlookpublishedbytheInternationalMonetaryFundinOctobersaid:"Borrowingcostsforemerging(markets)anddevelopingeconomiesremainhigh,constrainingpriorityspendingandraisingtheriskofdebtdistress.…Thedangerisofasharprepricingofrisk,especiallyforemergingmarkets,thatwouldappreciatefurthertheUSdollar,triggercapitaloutflows,andincreaseborrowingcostsanddebtdistress."InNovember,EuropeanCentralBankPresidentChristineLagardetoldtheEuropeanParliamentthatalthoughsheexpectedtheweakeningofinflationarypressurestocontinue,"themedium-termoutlookforinflationremainssurroundedbyconsiderableuncertainty".Shesaidwageswouldcontinuetoplayapivotalroleindrivingdomesticinflation.WhatistheoverallimpactoftheUSeconomy'srecentperformanceonglobaleconomicgrowth?A.PositiveaccelerationinmanufacturingB.DeclineinborrowingcostsC.AnoverallsubstantialincreaseinglobalGDPD.FalteringdrivingforceforglobaleconomicgrowthCorrectanswer:D.FalteringdrivingforceforglobaleconomicgrowthWhatistheUScentralbank'sprimaryfocusasmentionedinthearticle?A.ReducingunemploymentratesB.ManagingthecollapseofbanksC.Returninginflationtoits2percentgoalD.EasingborrowingcostsforemergingmarketsCorrectanswer:C.Returninginflationtoits2percentgoalWhatwasthespecificconcernhighlightedbytheWorldEconomicOutlookpublishedbytheIMFconcerningemergingmarkets?A.ReducedriskofdebtdistressB.AppreciationoftheUSdollarC.ApositiveoutlookforborrowingcostsD.AsubstantialdecreaseintheriskofcapitaloutflowsCorrectanswer:B.AppreciationoftheUSd
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