商务英语阅读(第二版)王关富unit7candetroitberetooledbeforeit'stoolate课后答案教学教材

商务英语阅读(第二版)-王关富-UnitThe-Incredible-Shrinki ng-Europe-课后答案————————————————————————————————作者：————————————————————————————————日期：Unit 4The Incredible Shrinking EuropeExercises1. Answers to the questions on the text:1) What was the dream that the Europhiles were familiar with?Their dream was to make E.U. a newly emboldened world power stepping up to calm trouble spots, using aid and persuasion where it could, but prepared to send in troops when it had to.2) Why does the passage say that Europe is a remarkably good place to live?Because Europe is more stable, safe, green and culturally diverse than most parts of the world and a quality life can be guaranteed in E.U. states.3) Does the good life at home make Europe strong abroad ? Why?No, a good life at home doesn’t mean a strong Europe abroad. Because the E.U.may have all the soft-power credentials in the world, but on the grand stage it has lacked the weight and influence of others on some big issues.4) What do Critics think of the selection of Herman Van Rompuy and Catherine Ashton as Europe's President and Foreign Minister?They consider the selection as symbolic of a lack of vision and it means the grouping will have to reconcile itself to five years of underperformance.5) What can be listed as E.U.’s achievements in the years around 1980s according to the passage?By extending an area of peace and liberal government to the east, the E.U. has done much to calm a part of the world that not long ago was the cockpit for murderous rivalries.6) In what way can Europe realize its own dreams and those of others according to the passage?It has to act as a true single bloc and win others to its side.7) Why does the German government face enormous domestic challenges in admitting its forces in Afghanistan are there to fight, not to be humanitarian workers in uniform ?Because one of modern Europe's most cherished convictions is that the force of arms rarely settles political disputes for long and European public opinion in the 20th century seems unwilling to commit to the war in Afghanistan for the long haul.8) What roles did Germany play in Europe in the 20th century?For the last half of the 20th century, Germany was at the heart of the European experiment. But since the end of the Cold War, it has stepped back from the E.U.and begun strengthening ties with Russia.9 What are the advantages for E.U. to be chosen as the White House’s partner?The advantages are that Europe is rich and democratic, and its values arecloser to those of the U.S. than those of anywhere else.2. Fill in each blank of the following sentences with one of the phrases in the listgiven below. Make changes when necessary.1) China will adhere to the principle of developing high technology and realizingindustrialization to step up the commercialization, industrialization and internationalization of scientific and technological achievements.2) In the recent crisis no banks could manage to bail out the companies in financialpressure.3) In terms of the information from the Universe he is apathetic and sometimesirritable, he is like an ostrich sticking his head in sand.4) It will be up to the board to decide if the CEO should be removed.5) All our hopes rest upon the arrival of the shipment.6) The plan has already been worked out, and could be put into operation at amoment's notice.7) The whole machinery of civilization will break down if this doctrine wins in thewar.8) His remarks hit home when he said that we did not work enough.9) Some analysts suspected that Toyota had pulled strings to stifle probes into itsauto quality problems.10) Mercy is reaching out to those who have nothing to give back to you.3. Match the terms in column A with the explanations in column B:A ____________________ B_____________________________________1)free market A) Effects on the behavior of individuals causedby observation of the actions of others and theirconsequences. 32) coalition government B) An economic turmoil where companies gobankrupt, people are laid off, and markets aresluggish. There is a lot of panic in bothbusiness and daily lives.93) demonstration effects C) A market in which there is no economicinterventionby the state, except to enforceprivate contracts and the ownership of property.14) health insurance D) A qualified retirement plan set up by acorporation, laborunion, government, orotherorganization for itsemployees. 6E) A form of collectivism by means of whichpeople collectivelypool their risk, in this casethe risk of incurringmedical expenses. 45) national interest F) The ability to obtain what one wants througheconomic or cultural means. It allows nations toexert their influence without using militarymeans or coercion. 86) pension scheme G) A fight or contention for territory, power,control, or resources between tow more partiesin a place or area.. 77) turf war H) Things of great importance to a nation,including itsgoals, visionsand ambitions inpolitical,economic,cultural fields,etc. and actions,circumstances,and decisions toachieve them. 5 8) soft power I) A cabinet of a parliamentary government inwhich severalparties cooperate. 29) economic crunch4. Translate the following into Chinese.有什么能让欧洲振奋起来吗？当然：如果欧洲领导人能像20年前那样抓住时机，欧盟就将繁荣昌盛。

课程名称：商务英语阅读( Business English Reading )《商务英语阅读》教学大纲一、课程说明《商务英语阅读》课程是英语专业（国际商务）的专业课程，是学生在进行英语基础课程学习后，涉及商务英语知识学习，商务英语语言学习的重要课程，旨在有系统、有步骤地训练和培养学生用英语表达与国际商务活动有关的术语名称、机构名称、协议并具备将文章译成正确流畅的汉语能力。

本课程是在英语专业（国际商务）的学生进行英语基础课程学习后开设的课程，有助于今后商务课程的学习。

本课程的教学时间安排是：每周4学时，计划教学周数 19周，总课时数76学时，其中实践学时数为34学时，主要内容是阅读商务类动态国际新闻时事并讨论。

本课程总学分数：4学分二、学时分配表三、教学目的与要求本课程的教学目的：《商务英语阅读》是英语专业（国际商务）的一门主要课程，着重通过对当前热门的商务英语文章进行精讲，分析，使学生能够系统的学习。

增加商务英语的基本词汇、掌握商务的基本理论和语言交际的基本技能，为培养适合现代经济、文化和社会发展需要服务。

学生通过学习能够成为从事国内外商务活动的外语复合型人才和商贸英语翻译人才。

本课程各章的教学要求和知识考核点如下：第一章中国模式为何奏效通过本课程的学习使学生了解中国与欧美国家自由市场经济不同的经济模式—计划经济与市场经济并存所取得的成效，了解中国领导人进行市场改革开放以来的作为与成就，成功的因素，以及与西方经济模式对比之下的不同之处。

本章的主要知识点是：计划市场经济、自由市场经济及中国改革开放。

难点是：课文生词应用，white goods白色家电，如冰箱，洗衣机，微波炉，消毒碗柜等，premium brands高档品牌的商品。

第二章全球现状新解本章通过了解第三世界国家新兴市场的观点和论说，并从历史的角度帮助学生体会对经济规模和管理的发展趋势。

本章的主要知识点是：供应链、库存周转率、规模经济、产业调整等。

U n i t 3Time to rebalanceExercises1.Answer the questions on the text.1)How did Steve Hilton feel when Lehman Brothers collapsed?The world was coming to an end.2)What did Mr. Hilton do to save his company?(1)Giving up options to buy thousands of lots.(2)Laying off 3/4 of his employees.(3)Redesigning his houses to cut construction cost.(4)Serving customers with guaranteed payment.3)In what sense America as a country is similar to Mr. Hilton’s company?Dismissing workers in the whole country and experiencing one of the worst economic recessions in history.4)What does “the biggest transformations” mean?Macroeconomically, the US will change from debt and consumption to saving andexports.Microeconomically, Americans will have different lifestyles and do different jobs indifferent places.5)According to the McKinsey Global Institute, what is the common practice ofconsumers during economic crises?Consumers generally try to cut their debt to more manageable levels.6)What is the major difference between credit cards and charge cards?Both are a line of credit for a customer. For a credit card, the customer can choose to pay in full or partially at the end of a month. When paying partially, the customer can pay interest on the balance until it is paid in full. Some people just keep making partialpayments and pay interest on credit cards for years and years. But for a charge card, the customer has to pay the entire amount off each time he/she receives a bill. It is notallowed to make a partial payment and no interest is involved.7)How is the current recession different from the previous ones?It was triggered by a financial crisis that made it impossible to channel savings toproductive investment and left customers and enterprises struggling with things from the boom.8)What is the dilemma the Obama administration in concerning the stimulus?On the one hand, the administration expects to reduce federal deficit. On the other hand, it worries that the withdrawing the stimulus may push the American economy back into recession.9)What are the reasons for economic restructuring according to the report?Tighter credit, lower consumer borrowing, and higher energy prices.10)What is said about business investment?It is expected to be robust, especially for equipment. But it can never substitute consumer spending.11)What changes have occurred in the United States in terms of consumption?(1)American consumers spend less but save more.(2)American companies thus look to an export boom abroad.(3)The US has changed from a consuming nation to an exporting economy, accountingfor only 27% of global consumption this year, much less than that of emergingmarkets.12)What makes the report optimistic about the American economy?(1)The US has been increasing exports abroad, particularly emerging markets.(2)America’s current-account deficit dropped from 6% to 3%.(3)American firms are busy preparing for their investment.2.Fill in each blank of the following sentences with one of the phrases in the list givenbelow. Make changes when necessary.1)Investors from big cities are quick to snap up real estates in this booming town for theirrising future values.2)There are already clear signals that the investors will shift away from the financial firmin legal trouble.3)High input are likely to put pressure on steel prices in the domestic market even ifdemand still remains high.4)The prime minister said Thursday that a new international airport will be built in thesouthern city to cater to the rising number of passengers and air cargoes there.5)Many economists fear that the contraction of money supply may dry up financing neededfor various economic activities.6)Professor Nil was, however, quick to warn the public to be on their guard against thosecounterfeits already in circulation.7)Academy Awards, Emmy Awards and dozens of prestigious awards from prominent filmfestivals around the world attest to the stellar quality of the films being featured at the annual World Community Film Festival.8) A neighborhood group in the district plans to hold a fundraiser to help children pay offoverdue book fines so that they can resume using their library.9)The writer’s fame shrank last year because the public thought he was knocking out somany things.10)Business leaders have urged the government to snap up farmland overseas to growbasic staples as a buffer against soaring food prices.11)The Vancouver team vowed to get back to doing the little things right and knew it wouldadd up to big things.12)What has happened over the past few years indicates that great political, social andeconomic transformations are in the making.3.Match the terms in column A with the definitions in column B.A_______________________ B________________________________________1)emerging market A) A contract that permits the owner, depending onthe type of option held, to purchase or sell anasset at a fixed price until a specific2)profit margin B) A construct that represents economicby a set of and a set ofand quantitative relationships between3)consumer spending C) An economy, with fast growth rate but low tomiddle per capita income, has opened up itsmarket and integrated itself into the global4)consumerism D) The process of moving from a period of lossesor low profitability into a more profitable stagefor a firm, industry or5)disposable income E) of after to cost-of-sales, oftenexpressed a , ing theof a and indicating its6)option F) Portion of the consistingof exports and imports of goods and services, aswell as transfer payments such as foreign aidgrants. 97)economic restructuring G) The amount of money spent by households,measured monthly, making up an important partof an8)turnaround H) The phenomenon of an economy shifting froma to a economicbase. 79)current account I) A movement equating personal happiness withpurchasing material possessions and. 410)economic model J) The of to anhave been , forspending and . 54.Translate the following passage into Chinese:目前石油价格飞涨，接近110美元一桶，食品和其他货物的成本也随之上涨。

王关富《商务英语阅读（第二版）》参考答案Unit 1Why China WorksExercises1. Answer the questions on the text:1) How does the author view the Chinese economy?It is the most important bright spot in the world economy under the global recession, the only major economy that is likely to show significant growth this year, and the only one that routinely breaks every rule in the economic textbook. 2) According to the author, why can the Chinese economy perform so well?Because of:(1) the capacity for state control by the Chinese government.(2) its rejection of exotic financial innovations that are the melting core of the global credit crisis.(3) the integration of its economic policies between traditional market tools and state control measures.3) In what way does the author imply that western economists are erroneous in their bias toward “China’s market economic system”?The United States and Europe are moving toward state control by nationalizing their banking and car industries, and imposing heavy new regulation on the financial industry.4) What is the view of Stephen Roach on the Chinese economy system?Investment is the backbone of sustainable growth in the Chinese economy, which works more effectively than other market based systems in times of economic stress.5) Why can China work in the eye of the author?It has followed a radical pragmatism focusing on a slow but steady shift toward freer markets.6) What is regarded as the strategic thinking of the Chinese leaders in market reforms?They understand even under the serious financial crisis that it can stabilize the Chinese market and economy to introduce more sophisticated forms of securitization, including stock index funds, corporate bonds and other debt products. They also realize that, in the course of doing this, they should learn from the mistakes the westerners have made.7) What is the example given to illustrate the steadiness of the Chinese leaders in their policy execution?They continue to allow the value of yuan to rise despite of the American charges and the need for export competitiveness by their own enterprises.8) What is “shock therapy”?It is the economic policy adopted in Russia from 1991 to 1992 that totally deregulated prices and lead to a runaway inflation. It proved to be all shock and no therapy.9) In what ways does the Chinese economic system work efficiently?It can get things done quickly, move in a coherent manner, and marshal its people and resources to a common target: economic growth and prosperity.11) What are the Internet and public opinion used for?For putting pressure on local officials and influencing policy decisions.2. Fill in each blank of the following sentences with one of the phrases in the list given below. Make changes when necessary.1)At a time when the need is growing for mental health services, many countries are unfortunately cutting back on itsspending.2)There is an increasing number of people out of work. But the western media often unfairly label them as lazy andreliable.3)Now that the flow of oil has been stopped by BP, the impact of all the spilled oil and natural gas is still beingmeasured.4)Once again its ability to steer economic policy will be tested against the ability to deliver on services and projectsaimed at growing the economy and jobs.5)Housing prices are incredibly high today. But he bought his house for a song about five years ago.6)As people are complaining high prices, especially those related to daily necessities, the government feels rather urgentto hold down inflation rate immediately.7)Under the new economy policy investors are invited to buy into state-owned enterprises.8)Since a serious gun shooting occurred in Arizona last week, security concerns have trickled down to all places,including residential buildings.9)Social unrest is a daily occurrence in the country nowadays. It is in the last place when it comes to investment formultinational companies.10)Efforts to ban smoking in China are so effective yet. Some chain smokers never think of quitting while many othershave battled in vain to quit.3. Match the terms in column A with the definitions in column B:A_______________________ B__________________________________1)financial innovation A) A reduction in the general availability of loans (orcredit) or a sudden tightening of the conditionsrequired to obtain a loan from the banks.72)stimulus package B) A non-bank entity or organization such asinvestment companies and mutual funds thatinvests in large quantities. 83)overheating C)A legal entity created by a government to undertakecommercial activities on its behalf. 64)stamp tax D) The trading of a corporation's stock or othersecurities (e.g. bonds or stock options) byindividuals with potential access to non-publicinformation.9E) An industry that requires large amounts of capital, machinery and equipment toproduce goods. 55)capital-intensive sector F) Generation of new and creative approaches tosecurities, money management or investing. 16)state-run firm G) An economy that is expanding so rapidly that toomuch money is chasing too few goods andeconomists fear a rise in inflation . 37)credit crisis H) tax levied on certain legal transactions such as thetransfer of a property such as building, copyright,land, patent, and securities. 48)institutional investor I) A plan or a series of measures taken by agovernment to jump-start its ailing economy,generally as a part of its fiscal policy. 210) insider trading4. Translate the following passage into Chinese.我们所面临的来自中国的真正挑战并不是他们向我们大量销售的货物，而恰恰相反，是他们正在提升的价值链。

《新编商务英语阅读教程》（第二版）练习参考答案Unit OneI.1. 资产C2. 边际变动E3. 市场势力I4. 劳动生产力（率）J5. 经济学A6. 市场失灵G7. 市场经济F8. 机会成本D9. 通货膨胀K10. 外部性H11. 效率B12. 菲利普斯曲线LII.Passage One经济学的研究主要分为两部分：宏观经济学与微观经济学。

宏观经济学着眼于经济全局——一幅宏观的画面。

在宏观经济学中，我们研究国家的政策目标，例如充分就业、抑制通货膨胀、经济增长等，而不考虑个人或者单个团体的利益和行为。

对宏观经济学的关注是为了从总体上认识并改善经济的运行。

微观经济学则关注宏观画面中的细节。

在微观经济学中，我们着眼于实际构成宏观经济的个人、厂商和政府机构。

我们感兴趣的是这些独立经济单位的行为。

他们的目标何在？以有限资源实现目标的途径是什么？如何对各种激励和机会做出反应？宏观经济学主要关注，例如，总消费性支出对总产出、就业及物价的影响。

很少关注消费性支出及其决定因素的实际内涵。

相反，微观经济学关注的是个体消费者具体的支出决策及其影响因素（爱好、物价水平、收入状况）。

宏、微观经济学的区别还反映在关于企业投资的讨论中。

宏观经济学中，我们需要了解决定企业总投资率的因素以及这些投资对一国的总产出、就业及物价水平产生影响的路径。

而微观经济学中，我们关注的是各家企业关于生产率、生产要素的抉择以及具体物品的定价决策。

了解宏、微观经济学的区别并非难事。

在现实社会，宏观经济的表现有赖于微观行为，而微观行为又受宏观经济表现的影响。

因此，人们只有了解了所有经济活动的参与者的行为方式及其成因，才能充分了解整个经济的运作方式。

但是，就如你会开车而不懂发动机的构造原理那样，你能观察到经济运行方式但并不能完全解开其中奥秘。

在宏观经济学中我们注意到经济这部汽车在踩油门时加速，踩刹车时减速。

这就是我们在大多数情形下所需了解的一切。

然而，汽车总有出故障的时候。

Unit 7Can Detroit Be Retooled — Before It's Too Late? Exercises1. Answer the questions on the text:1) what is the problem the would-be car buyers may face according to RodBuscher, CEO of Summit Automotive Partners in Denver?The would-be buyers lack either the income or the access to credit that would allow them to drive a new car off the lot.2) Why is GM said to have a stark and steep job to do when the President’sauto task force presented the to-do list?According to the list GM has to shrink labor costs, including retiree health-care expenses; slash debt; kill or sell low-performing brands; and reduce the number of models for sale and the number of dealers selling them. Should all the parties concerned fail to accomplish that by the deadline of June 1, GM may go into bankcruptcy.3) How can U.S. automakers take advantage of the coming car boom?Companies that can meet consumers' needs for fuel-efficient yet stylish cars —and that have flexible manufacturing plants to turn out the hot products on demand —are likely to find huge opportunities for growth in the coming car boom.4) What does the White House’s auto-task-force working group plan to do withChrysler?It plans to close the deal on Chrysler's sale to Fiat. Ron Bloom, one head of the group, has taken the lead in trying to negotiate the sale of 20% (at least initially) of Chrysler to Fiat.5) What is VEBA approach to solve GM’s problem of retiree health andpension benefits?In a VEBA, the union agrees to accept a cash payment to fund a new health-care system that trustees administer, thus taking future liabilities off the company's books.6) Why does the UAW feel particularly aggrieved about the task force'sapproach?Because it has agreed to an unending series of givebacks over the past 20 years.Even before this latest crisis, the UAW’s agreement to the 2007 contract would have put Detroit's labor cost per car within a couple of hundred dollars of Toyota's and the other foreign automakers’.7) Why are analysts so optimistic about the future car sales?Because Americans have been putting off buying cars for nearly two years and showroom traffic is increasing ,which means pent-up demand is building.The prospect of car sales is sure to be great when credit starts to loosen as historyindicates.8) What are the elements that make analysts believe North American demandfor cars will approach 16 million units within five years from the year 2009?The elements include the replacement demand, scrappage rates, demographic changes and an economic recovery.9) What are the competitive GM brands mentened in the passage?They are award-winning Chevy Malibu and the 2009 Buick LaCrosse, which recently topped all midsize competitors in dependability ratings.10) What competition will the US car industry face in the near future?The US car industry will have to win millions of buyers’ recognition for theirbrands, and try to play better in the competition with companies in Asia, such as China's Chery Automobile and India's Tata Motors, as well as the established players like Volkswagen and Hyundai-Kia.2. Fill in each blank of the following sentences with one of the phrases in the listgiven below:1) With his expanding wireless broadband plan, Obama wants to usher everyAmerican into the 'Digital Age'.2) School activities start winding down about two weeks before the end ofsemester.3) The man said he couldn't come up with an appropriate answer just at the time.4) Everybody is sure that the ceaseless dripping of water will in the end hollow outa stone.5) The progressive movement, which had already brought important changes infederal policies, stood on the verge of culmination and fulfillment6) The state has suffered so much loss. The smugglers should never be allowed toget off easy.7) After production expansion, this company now can turn out a million televisionsets a month.8) The preeminent writer's personal appearance picked up the sales of the bookconsiderably9) The newly announced credit policy may help many family-owned businesses getthrough the tough times at present..10) The government has imposed drastic economic controls to choke off inflation.11) To execute full-cost accounting, companies must account for the true cost of theirproducts.12) Economists are not so optimistic because there is no sign that the recession hasbottomed out.3. Match the terms in column A with the explanations in column B:A B1) bondholder a) A measure of a company's financial health,whichequals cash receipts minus cash payments over agiven period of time. 62) creditor b) A financial asset whose value has fallensignificantly and which fails generate cashflowand is worth much less than expected. 73) dealership c) An entity (person or institution) that extendscredit by giving another entity permission toborrow money if it is paid back at a later date. 2 4) health-care expenses d) A unit specially organized to work on a singledefined task 105) manufacturing capacity e) A business company that is owned or controlledby another larger company 96) net cash flow f) A person owning a bond or bonds issued by agovernment or a public company 17) bad asset g) Money used for the preservation of mental andphysical health by preventing or treating illnessthrough services offered by the healthprofession 48) hot products h) Volume of products or services that can begenerated by a production plant or enterprise ina given period by using current resources. 59) subsidiary# i) A business established or operated under anauthorization to sell or distribute a company’sgoods or service in a particular area 310) task force j) Products that are extremely populous amongconsumers and normally sell like hot cakes inthe market. 84.Translate the following into Chinese:凭借这股势头，现代集团正加快从生产线上推出新车型的速度。

第1课中国是今年唯一呈现出重大发展的主要经济体（economy），由于它通常是唯一敢于打破经济教科书中每一条例的经济体。

事实上，中国不像其他五大经济体那样发展缓慢的主要原因是，它宏观调控的能力（its capacity for macro-economic control）为什么中国市场经济体系奏效？（market economic system）目前，欧美等国正通过银行及汽车业国有化及金融业实施新的有力规定（regulations），走向宏观调控。

但问题更加紧迫（the question has a new urgency）。

中国看上去最能驾驭（navigate）七十年内最糟的经济滑坡（downturn）在危机中，中国官员既能吸取像西方同行（counterparts）的传统市场工具，也能吸取中国市场经济体系的积累经验（arsenal）。

去年早期，由于房地产市场（housing market）过热，中国官员仅命令银行削减房贷（cut back on housing loans），然后随着房屋销售量下降（fall），他们提供类似更低的房屋购置税（lower taxes on home purchases）。

最近几周，他们展开类似西方的经济救援行动（launch economic rescue efforts），其中包括价值6000亿的大计划以增加政府开支和大幅利率削减（ramp up government spending）（big interests cuts）。

但同时，他们也发布在西方国家眼里是不合理的干涉的命令，例如，上周中国官员召集包括钢铁建筑等行业的国有行业并购（buy up）国内外新资产（at home and abroad）以积极（actively）发挥在经济中的作用曾把中国宏观调控视为不成熟经济的弊病（immature economy），现在是稳定的保障（bulwark of stability）。

商务英语阅读(第二版)-王关富Unit2The-World-Economic-For um-课后答案Unit 2A Changed Global RealityExercises1. Answer the questions on the text:1) What are the features of the two major economies that the world has seen formore than 200 years?One has dominated technological innovation and trade and amassed great wealth. The second—much of it politically under the thumb of the first—has remained poor and technologically dependent.2) How much did low-and-middle-income countries contribute to world growthin 2010?Almost half (46%)3) Taking a long term view, why is it good news that developing countries aregrowing fast?As billions of poor people become more prosperous, they will be able to afford comforts their counterparts in the rich world have long considered the normal appurtenances of life.4) What are the worst-case scenarios that Europe has so far avoided?A collapse of the euro, a debt crisis that spills from small economies such asGreece and Ireland to much bigger ones like Italy and Spain, and bitter social unrest in those nations that are having to massage wages down while cutting public budgets.5) Why does Jim Walker think that 2011 will be a “year of reckoning”?Because Jim Walker thinks that the rebound in the US is a mirage created by excessive stimulus. He expects the US to slip into the double dip it dodged in 2010.6) Why has the private-sector debt crisis of 2008-2009 morphed into apublic-sector debt crisis in 2010-11?It has been the result of the debt and deficits amassed in the process of stimulating economies and bailing out banks during the downturn.7) What are the risks that emerging economies face?a. sharp rise in inflationb. rising oil pricesc. soaring food price8) What did China and India do to cope with inflation and rising food prices?China raised the reserve-requirement ratio;India resorted to diplomatic means when Pakistan temporarily cut off some exports of onions to the country.9) How can the disaffection with global capitalism in the developed world beprevented from turning into a backlash against it?It would help if there were mechanisms in place to manage the stresses in the international economy.10) What is the most serious division between countries that policymakers haveto contend with?Economic disparity2.Fill in each blank of the following sentences with one of the phrases in the listgiven below:1) The search for the child was scaled back sharply today, with almost a third ofthe volunteers heading home.2) The former Federal Reserve Chairman says there is a risk that the US couldslip into a recession by year’s end.3) The CEO of the firm said that they would switch priority from traditionallabor-intensive products to more hi-tech and value-added ones.4) In the aftermath of the financial crisis the group has put on hold some of itsambitious regional expansion plans.5) Toyota Motor Corp. is offering widespread job buyouts to its US workers for the first time and cutting the workweek at some of its American plants by 10% to contend with falling sales.6) Eventually, it must morph into a system that functions on stability, or it willfail and cause an unstoppable breakdown and widespread hardship.7) Unfortunately most of the central banks in the world today are still firmlyunder the thumb of politicians.8) The stock market’s endurance could depend heavily on whether economic andcorporate performance remains uncertain, or begins indicating that the economy truly is out of the woods.9) Survivors were encouraged to talk about their horrible experiences to helpthem come to terms with the flood disaster.10) Other countries—notably Australia—have also avoided a bust in theirhousing markets, and have instead seen prices increases flatten out.3.Match the terms in column A with the explanations in column B:AB ______1）double-dip recession A) A physical substance, such as food, grains, andmetals, which is interchangeable with anotherproduct of the same type, and which investors buyor sell, usually through future contracts 72) credit rating B) A measure that examines the weighted average ofprices of foodstuffs, often used as an importantfactor to assess the cost of living. 93) austerity C) A government policy of deficit-cutting, lowerspending, and a reduction in the amount of benefitsand public services provided, sometimes coupledwith increases in taxes to pay back creditors toreduce debt. 34) private sector D) A central bank regulation that sets the minimumreserves each commercial bank must hold tocustomer deposits and notes. 105）protective tariff E) The part of the economy that is not statecontrolled, and is run by individuals and companiesfor profit. 46）beggar thy neighbor F) An expression in economics describing policy thatseeks benefits for one country at the expense ofothers. Such policies attempt to remedy theeconomic problems in one country by means whichtend to worsen the problems of other countries. 6 7) commodity G)A published ranking based on detailed financialanalysis by a credit bureau, of one’s financialhistory, specifically as it relates to one’s ability tomeet debt obligations. 28）sovereign-debt crisis H) A crisis in which a national government owes somuch debt that it is unable to repay or on the edgeof bankruptcy. 89）food-price index I) A tariff which tries to ban imports to stop themcompeting with local products 510）reserve requirement J) A situation where economic growth slides back tonegative after a short-lived growth and theeconomy may move into a deeper and longerdownturn. 14.Translate the following into Chinese:星期五，世界上20个主要经济体的领导人结束了在这座东北亚首都城市举行的为期两天的峰会。

Chapter 1 Why China Works中国是今年唯一呈现出重大发展的主要经济体（economy），由于它通常是唯一敢于打破经济教科书中每一条例的经济体。

事实上，中国不像其他五大经济体那样发展缓慢的主要原因是，它宏观调控的能力（its capacity for macro-economic control）。

为什么中国市场经济体系奏效？（market economic system）目前，欧美等国正通过银行及汽车业国有化及金融业实施新的有力规定（regulations），走向宏观调控。

但问题更加紧迫（the question has a new urgency）。

中国看上去最能驾驭（navigate）七十年内最糟的经济滑坡（downturn）。

在危机中，中国官员既能吸取像西方同行（counterparts）的传统市场工具，也能吸取中国市场经济体系的积累经验（arsenal）。

去年早期，由于房地产市场（housing market）过热，中国官员仅命令银行削减房贷（cut back on housing loans），然后随着房屋销售量下降（fall），他们提供类似更低的房屋购置税（lower taxes on home purchases）。

最近几周，他们展开类似西方的经济救援行动（launch economic rescue efforts），其中包括价值6000亿的大计划以增加政府开支和大幅利率削减（ramp up government spending）（big interests cuts）。

但同时，他们也发布在西方国家眼里是不合理的干涉的命令，例如，上周中国官员召集包括钢铁建筑等行业的国有行业并购（buy up）国内外新资产（at home and abroad）以积极（actively）发挥在经济中的作用。

曾把中国宏观调控视为不成熟经济的弊病（immature economy），现在是稳定的保障（bulwark of stability）。