Unit 5
Japan Goes From Dynamic to Disheartened
Exercis
1. Answer the questions on the text:
1) What were the two major factors comprising Japan’s economic bubble in the 1980’s?
# speculative stock
# property bubbles
2) 三美戏八戒What were the methods Japane government adopted to stimulate its economy, but turned out to be a failure?
# budget deficits
# flood of easy money
3) What does “economic Godzilla” mean in the text?
It means economic giant with enormous power. It is so quoted becau it is a Japan cultural icon.
4) What are the reasons that the U.S. would not follow Japan’s suit, according to some economists?
烤箱烤香肠# the greater responsiveness of the American political system
# Americans’ greater tolerance for capitalism’s creative destruction
5) What are the specified steps in the “deflationary trap”?
Demand decreas→supply decreas→unemployment/reluctance in investing→less spending→less demand.阿里青年创业网
6) What are the factors contributing to Japan’s even dimmer future?
# the world’s largest government debt (around 200% of GDP)
# a shrinking population
# rising rates of poverty and suicide
7) Why do people today refer to the Japane youth as “herbivores”?
Becau: under the background of long-term economic stagnation, younger generation of Japan become pessimistic and fatalistic, and they lack ambitions that their parents once valued and become mildly tempered and behaved in both career and x.
8) What do you think of Japan’s real estate industry?
During the period of deflation, property keeps losing its value, and people then refu to buy new hous and hou-owners are burdened with large sums of loan. They have to come up with different ways to cut expens, which sabotages people’s expectations towards a better future.
摔拼音
9) Why is Mr. Kaiami expecting inflation to come back again?
Becau the Japane economy has been depresd and sluggish for so long. If inflation comes back he expects to e vibrancy of the Japane economy again.
10) According to the article, how would you explain “destructive destruction”?
On the contrary to creative destruction, which describes the chaotic changes that occur when a new product (i.e., technology) or rvice is introduced into the market, and entrepreneurs can make great profit by innovation, destructive destruction here means people’s pessimistic expectation renders them making their living by cutting expens and lling current property rather than risking creating new fortune.
2. Fill in each blank of the following ntences with one of the phras in the list given below:
1) I have discovered that paying down your loan can result in being cash poor when a need or emergency aris.
2) The road to recovery is a long one, so the politicians must wake up to the recession, accept it and get us where we need to go.
3) All signs日本100禁眙盱 point to Apple’s iPad sales as the recovery of tablet PCs and future spending boom.
4) During this urgent period, journalists were told to hold back on some stories in ca they might do damage to the delicate administration.
5) According to some analysts, BP Plc's oil spill in the Gulf of Mexico will drive down rental prices for deep- a drilling vesls by about 20 percent.
6) Consolidation is likely to increa since no one player controls more than 10 percent of the market, there’s a golden opportunity for big fish to gobble up smaller business.
7) According to a survey, teachers and lawyers are put in the most overtime, they toil for ten hours a week unpaid.
8) They also added that they would not surrender the future of their children to a few people who are bent on enslaving them for life.
情绪的意思9) China's top legislature is to deliberate about the draft amendment to the personal income tax law, a major move that is meant to narrow the widening gap between the country's rich and poor.
10) We must bridge the gap between the supply and demand of power if we are to achieve higher rates of economic growth on a sustainable basis in the next decade.
3. Match the terms in column A with the explanations in column B:
A B
民主生活会班子对照检查材料1) budget deficit a) A procedure which, in certain jurisdictions,
allows an individual to declare bankruptcy. 10
2) stagnation b) The highest-ranking corporate administrator
in charge of total management of an
organization. 9
3) price war c) The amount by which a government,
company, or individual's spending exceeds its
income over a particular period of time. 1
