大学外贸英语chapter 1 The Global Economic Crisis

Chapter1

TheGlobalEconomicCrisis世界经济危机Warm-upQuestionsWhatistheglobaleconomiccrisis?Whatcausedthecrisis?Howcanwedealwiththecrisis?Newwords1todeterioratevi.恶化〔deterioratingeconomiccondition不断恶化的经济形势=worseningeconomicsituation)2prolongeda.长期的〔long-lasting)3appreciationn.评估〔withoutadequateappriciationoftherisk,缺少对风险的正确评估，动词为appreciate〕4duea.应有的(duediligence应有的谨慎)5underwritingstandards承保标准Newwords6unsounda.不健全的〔unsoundmanagementpractices不健全的管理做法/行为〕7opaquea.不透明的(nottransparentorlackingtransparency)8leveragen.此课文中作“影响〞讲〔excessiveleverage过度的影响〕9vulnerabilityn.脆弱性10toaddressvt.应对；专心致力于……Newwords11ramificationn.后果〔一般用复数，如:theramificationsofaproblem)12underlyinga.根本的；主要的〔underlyingfactors主要因素〕13unsustainablea.不能持续的，支撑不住的14swineflu猪流感(与H1N1flu意同)15pandemicn.大流传；广泛传染〔指传染病〕Newwords16virusn.病毒17tocombatvt.跟……作斗争18flagginga.逐渐衰退的，逐步萎缩的〔shrinking〕19unfreezevt.使解冻20criticala.重要的EconomicTermsEconomicTermsUsefulPhrasesandIdiomaticExpressions1manyacountrymanycountries(manya许多，a后接名词单数〕2buildingup正在逐步增大/扩大〔theriskbuildingup正在扩大的风险〕3tokeeppacewith...与……齐步前进〔tokeeppacewithfinancialinnovation跟上金融革新的步伐〕4totakeintoaccount考虑(=consider)UsefulPhrasesandIdiomaticExpressions5amongothers文中当“除其它因素外〞(=apartfromotherfactors)6〔to〕contributeto...导致；引起〔tobelievesth.tobetheresultofsth.else〕7〔be〕conduciveto...有益于；有助于〔beconducivetofiscalstability有助于财政稳定〕NotesNotesWorldBank世界银行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