Unit 2
A Changed Global Reality
Exercis
1. Answer the questions on the text:
1) What are the features of the two major economies that the world has en for more than 200 years?
One has dominated technological innovation and trade and amasd great wealth. The cond蟑螂最怕什么—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 growth in 2010?
Almost half (46%)
3) Taking a long term view, why is it good news that developing countries are growing 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-ca scenarios that Europe has so far avoided?
A collap of the euro, a debt crisis that spills from small economies such as Greece and Ireland to much bigger ones like Italy and Spain, and bitter social unrest in tho 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”?
Becau 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-ctor debt crisis of 2008-2009 morphed into a public-ctor debt crisis in 2010-11?
It has been the result of the debt and deficits amasd in the process of stimulating economies and bailing out banks during the downturn.
7) What are the risks that emerging economies face?
a. sharp ri in inflation
b. rising oil prices
c. soaring food price
8) What did China and India do to cope with inflation and rising food prices?
China raid the rerve-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 be prevented from turning into a backlash against it?
It would help if there were mechanisms in place to manage the stress in the international economy.
10) What is the most rious division between countries that policymakers have to contend with?
Economic disparity
2.Fill in each blank of the following ntences with one of the phras in the list given below:
1) The arch for the child was scaled back sharply today, with almost a third of the volunteers heading home.
2) The former Federal Rerve Chairman says there is a risk that the US could slip into负荆请罪图片 a recession by year’s end.
3) The CEO of the firm said that they would switch priority from traditional labor-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 its ambitious 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高中历史必修三 a system that functions on stability, or it will fail and cau an unstoppable breakdown and widespread hardship.
7) Unfortunately most of the central banks in the world today are still firmly under the thumb of politicians.
8) The stock market’s endurance could depend heavily on whether economic and corporate performance remains uncertain, or begins indicating that the economy truly is o
ut of the woods.
9) Survivors were encouraged to talk about their horrible experiences to help them come to terms with the flood disaster纸条作文.
10) Other countries澳大利亚气温—notably Australia—have also avoided a bust in their housing markets, and have instead en prices increas flatten out.
3.Match the terms in column A with the explanations in column B:
A B ______
1）double-dip recession A) A physical substance, such as food, grains, and metals, which is interchangeable with another product of the same汽车文化论文 type, and which investors buy or ll, usually through future contracts 7
春风什么雨2) credit rating B) A measure that examines the weighted average of prices of foodstuffs, often ud as an important factor to asss the cost of living. 9
3) austerity 湛江市技师学院 C) A government policy of deficit-cutting, lower spending, and a reduction in the amount of benefits and public rvices provided, sometimes coupled with increas in taxes to pay back creditors to reduce debt. 3
