商务英语阅读(第二版)参考译文 王关富编

合集下载

商务英语阅读(第二版)-王关富-UnitThe-Incredible-Shrinking-Europe-课后标准答案

商务英语阅读(第二版)-王关富-UnitThe-Incredible-Shrinking-Europe-课后标准答案

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。

商务英语王关富翻译

商务英语王关富翻译

R。

的王关富《商务英语阅读》课文翻译鄙人从考研论坛中搜到的资料,跟大家共享一下,同时十分感谢考研论坛为研友提供的帮助~~~~()高级商务英语阅读课文译文第1 课主课文译文新长征“中国制造”这个标记很久以前就不新鲜了,它贴在鞋子上、玩具上、服装上,以及为跨国公司制造的其他商品上,世界各地到处可见。

现在真正新鲜的是以中国品牌出售的中国制造的商品。

目前中国只有为数不多的几家公司拥有足够的财力和管理知识来打造国际名牌;其余的绝大多数公司还在为在国内获得知名度而努力奋斗着。

但是正在海外市场上试水的各大先锋公司,很有可能把事情做大。

一些人认为,在创业精神饱满的本地管理层的协助下,或者在一些想在其产品系列里添加新产品的外国公司的协助下,中国商品在极具竞争力的价格的基础上,若把卖点放在产品质量和异国情调上,那末10 年之内,中国品牌将一个一个地走向全球。

总部在香港的广告公司中国精信(Grey China)的执行董事陈一木丹(Viveca Chan)说:“如果世界上只有一个国家具备创立全球品牌的潜力,那么这个国家就是中国。

”短期之内,中国商品最有希望打入国际市场的当属中草药和特色食品,当然也包括那些体现中国浪漫并具有异国情调的产品,例如化妆品、时装和音乐作品。

中国总部设在上海的泰勒·娜尔森·索福瑞(Taylor Nelson Sofres)市场调研公司的中国区总经理Kevin Tan 说:“与中国相联系的神秘色彩还有许多。

化妆品是种靠形象推销的产品,假如你要做化妆品,你会一下子就发现,中国化妆品来头不小。

”努力走向世界的中国品牌还有一些领导时尚潮头的饮料和啤酒品牌,也包括家用电器等具有品牌潜力的产品,它们都能以竞争性的价格提供高品质的产品。

这些中国品牌中的一部分,最终将会通过合资、兼并和收购的途径走向国际市场。

而对于合资双方中的外国投资者来说,这些品牌则将成为他们更快地进入中国消费市场和销售渠道的载体,同时这些中国品牌也能进一步充实国外投资者在国际市场上已经确立的优质品牌的阵营。

Chapter 9王关富 商务英语阅读 译文【最新】

Chapter 9王关富 商务英语阅读 译文【最新】
第二个受到指责之处该体系催生了大量的外汇储备,在新兴经济体中尤为如此。全球储备已从1995年的1.3万亿美元(占全球GDP的5%)升至如今的8.4万亿美元。新兴经济体占总额的2/3.大多数储备都是在过去的十年间积累起来的(见图表2)。
这些庞大的储备违背了经济学逻辑,因为这意味着自身理应充分拥有投资机会的穷国,正向富裕国家主要是美国提供低息贷款。这类贷款通过压低美国的长期利率从而促使其突然陷入危机中。如今,随着美国人多储蓄少消费,且正值全球需求扩大的情况下,他们表现得却更为节俭。
从理论上讲,其货币体制也正变得更具灵活性。其中,约40%由官方实行浮动汇率制,较15年前的不到20%相比有所上升。但是浮动大都受到严格管制。各国不愿意令其货币自由浮动。当资金涌入时,中央银行通过买入外汇来遏制货币升值。
他们这样做部分原因的是各国ZF不愿其汇率骤然飙升抑制出口。很多国家都担心其稳定性和速度,他们希望出口导向型的增长---估值偏低的货币来刺激出口。
只有中国解释了大量全球外汇储备增加的原因(见图表3)。其行为也影响了其他国家。许多其他新兴经济体,尤其是亚洲,不愿拿其货币竞争力冒险使币值升高太多。结果世界上许多经济增长强劲的国家实际上紧盯美元,创建了被称为“布雷顿森林体系2.0版”的协定。
History lessons历史教训
这种准美元标准和原版的布雷顿森林体系之间的相似性意味着如今的许多问题都有历史相似性。加利福利亚大学(伯克利分校)的巴瑞•艾森格林在即将出版的《超级特权》中探讨了这些相似性。该书论述了国际货币体系的前世今生。
正像20世纪90年代金融危机留下的创伤所造成的重大影响一样。外资外逃引起严重衰退。许多新兴经济体的ZF得出结论在经济全球化时代,安全在于积聚大量的储备。这一逻辑在2008年的危机中得到佐证,当中国或巴西等国拥有大量储备时,要比那些储备较少的国家经济运行的更好。即使韩国的资本准备金占GDP的25%,它还是须求助于美联储,来获取最高美元应急流动资金。

商务英语阅读(第二版)参考译文 王关富编

商务英语阅读(第二版)参考译文 王关富编

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)。

商务英语第二 王关富 课文翻译Chapter

商务英语第二 王关富 课文翻译Chapter

商务英语第二版王关富课文翻译-Chapter8————————————————————————————————作者:————————————————————————————————日期:财富:如何改变苹果乔布斯的十年北京时间11月5日《财富》文章指出,专横但又极富才华的乔布斯是如何改变苹果的呢?这是一段扣人心弦的创业故事:年轻的乔布斯在上个世纪八十年代一手创立了苹果,九十年代回归,在随后的十年里,他在鬼门关前转了两圈,也曾陷入违反证券法的丑闻,但是他领导苹果开发的一系列产品一直到今天还很畅销,他经常作出的一些令人不愉快的行为成为四个不同行业的主流个性,数次荣登亿万富豪榜,长期担任硅谷最有价值公司的掌门人.这听起来是不是有点象天方夜谭? 也许吧.但是这却是史蒂夫乔布斯的真实经历,他对他接触到的任何事物都产生了巨大的影响.商业界过去的十年是属于乔布斯的.就在一年之前,任何关于他的生平介绍的文章似乎都带着一丝告别的意味. 但是时至今日,乔布斯又回来了.他经常签的“再多一件事(one more thing)”放在他自己的身上也同样合适.经过上半年长达6个月的病休之后,他又精神抖擞地出现在3.4万苹果员工的面前.他在离开的期间接受了肝脏移植手术.在乔布斯年轻的时候,他的身边就聚集了一大批富有才干的追随者.现在乔布斯已经到了54岁,仅仅是简单地列出他的辉煌成就就足以解释他为什么能够当选财富杂志的“十年CEO”.仅在过去的十年里,他就从根本上改变了音乐、电影和手机等三大市场的格局.而他对最初起家的电脑行业的影响力也是有增无减.他是一位少见的全球知名的生意人.即便是从未看过苹果年报或者商业杂志的消费者也能滔滔不绝地谈论乔布斯的设计品位、优雅的零售店以及他不拘一格的广告创意.他经常被比喻为演员、天生的推销员、魔法师以及专横的完美主义者.这些评价当然十分准确,同时它们也给乔布斯增添了不少的传奇色彩.他经常与撰稿人、工业设计师和音乐家们混在一起,虽然他的着装不太正统和讲究,但是别搞错了,他可是天生的企业家.他或许不太注意对客户进行研究,但是他会非常勤奋地工作以生产出客户愿意购买的产品.他是一个极富幻想的人,但是他也不脱离现实,他密切注意着苹果的各种运营和营销活动.他的好友、甲骨文首席执行官拉里埃利森说,乔布斯是一个不为金钱所动的人. 他的勤奋显然是处于内心对苹果的热爱,通过苹果这个媒介,他既是冷酷的裁决者,又是改变世界的执行者.不管对于苹果还是乔布斯来说,每个季度的财报都是令人大吃一惊的.苹果在2000年时的市值大约为50亿美元,不久之后乔布斯第一次披露了苹果的数字生活方式战略,当时几乎没有评论家们能理解他的战略意图. 如今,苹果的市值达到了1700亿美元,略微超过谷歌.当时苹果在个人电脑市场的份额大幅下滑,现金外流非常严重,公司几乎到了破产的边缘. 现在苹果手中的现金和现金等价物的总价值达到340亿美元,超过了竞争对手戴尔的总市值. Mac电脑在美国个人电脑市场上的份额达到了9%,而且还在继续增长.苹果在9个国家开设了275家零售店,在美国MP3播放器市场占有73%的份额,自从推出iPhone之后,它又无可争议地确立了它在创新上的领袖地位.迪斯尼在2006年斥资75亿美元收购了乔布斯创立和控制的皮克斯动画制片厂.乔布斯顺理成章地成为迪斯尼董事和大股东. 仅仅计算他所持有的苹果和迪斯尼股票的价值,他的净资产就达到了50亿美元.一些其他企业的高管也有人能够辉煌十年,但是无人能够与乔布斯相比.乔布斯的十年实际上始于1997年,当时的乔布斯在离开了公司12年之后刚刚回归.乔布斯重掌公司大权后的第二年,他就完成了新的领导班子的组建. 那些优秀的人才正是十年以来乔布斯智囊团的核心人物.随后,苹果推出了乔布斯回归之后的首款Mac电脑iMac,那款具有突破性意义的产品预示着苹果将恢复健康.iMac推出之后大获成功,加上乔布斯坚决果断地大幅削减成本,为苹果今后的发展积累了充足的现金. 他改善了苹果的资产负债表,为未来的大投资做好了准备.在一切看起来都还正处于最黑暗的时候,乔布斯就开始为苹果日后的飞跃式发展打基础.苹果在2000年9月份发布的财报未能达到预期目标,股价在随后的几个月里持续下跌,一直跌到相当于如今的7美元的水平上. 然而乔布斯到现在仍然记得苹果东山再起的关键因素.2001年,当全球市场下滑,全球都陷入衰退的时候,苹果在那一年的1月份发布了iTunes,在3月份发布了Mac OS X操作系统,在5月份开设了首家苹果零售店,在11月份推出了首款iPod.市场当时并未迅速发现那些事件的重要性.iTunes当时还只是内建在Mac电脑中的音乐播放软件,当时也没有销售音乐的网络商店. 但是新的操作系统带来了一款极具吸引力、强大而且精美的产品,那就是iPod.当苹果的股价一蹶不振的时候,市场不时会传出苹果即将被收购的传闻.鲜为人知的是,乔布斯当时确实慎重考虑过在收购集团银湖的帮助下将苹果私有化的方案. 收购苹果可能会成为整个世纪最大的交易,但是据知情人士称,乔布斯最终放弃了那个想法.那其实是苹果第二次面临可能被收购的命运.早在1997年的时候,乔布斯的好友埃利森就曾联合了一些财团,准备收购苹果.埃利森在最近一次接受采访时说,乔布斯不喜欢事后被人批评,搞得好象他纯粹是为了赚钱才重新出山的一样.他向我解释说,他认为他可以更轻松和更体面地作出决定.对那些在乔布斯重返苹果后开始关注苹果的人来说,首席执行官的任务就是确定公司今后的发展方向.他在2002年初曾对媒体说过:“我宁愿与索尼竞争,也不愿意在另一个产品领域与微软竞争.我们都是同时拥有硬件、软件和操作系统的完整产品厂商.我们可以为用户完全负责.我们可以做到其他人做不到的事情.”乔布斯相信,只要他可以与公众直接对话,公众会转到苹果这边来的.他所说的公众并不是指Mac电脑的忠实用户,而是普通的消费者.开设自己的零售店的战略在当时还遭到了普遍的嘲笑,许多人认为那样做可能会让苹果的现金外流.前苹果高管、现在担任Intuit董事长和苹果董事的Bill Campbell说:“当时董事会都很紧张,但是他还是那么做了.他知道客户们想要什么.”现在回头来看,当时的苹果零售店能够出售的产品是多么少啊.乔布斯知道,他应该拿出更多的产品.乔布斯将彻底了解苹果当作自己的任务.曾经与苹果断断续续地合作了几年的前Chiat/Day创意总监Ken Segall说:“乔布斯参与了许多非常细致的工作,你是绝对不会认为一家公司的首席执行官应该参与那些细致的工作的.” Segall说,每当苹果将要推出新产品之前,乔布斯都会发起了著名的“换个思路”活动.他甚至将这个活动推广到了广告团队.他说:“乔布斯会说'第四段的第三个单词不恰当,你也许可以考虑用那个单词.'这样的话.”同时兼顾细节管理和大局观是乔布斯的特色标志.在刚刚回到苹果的时候,他便意识到产品的精美设计是苹果区别于当时由戴尔、微软和英特尔等厂商引领的计算机行业的因素之一.产品设计顾问公司Ideo的首席执行官Tim Brown在他的新作《通过设计去改变》中写道:“我根本数不清到底有多少客户会冲进苹果零售店然后说'给我下一款iPod'.那可能跟那些小声地说'给我下一个乔布斯'的设计师的数量很接近.”乔布斯还非常善于把握时机.在苹果推出iTunes之前,音乐界一直都没能开发出自己的数字音乐销售网站.之后苹果便开始为把iTunes变成一个购买音乐的商店作准备.当iTunes还只能在Mac电脑上使用的时候,苹果就巧妙地同各大唱片公司签订了协议.在iTunes兼容Windows系统之前,苹果的地位非常低,这在当时或许是苹果的一项优势. 这也使得iTunes更象是一块试验田,而不是破坏性的转型之举.滚石乐队的Steve Knopper在其新作《自我破坏的欲望》中写道,环球音乐的高管Doug Morris曾经说过:“我不明白苹果怎么可能只用一年的时间就在Mac电脑上毁灭了唱片行业.”Knopper写道:“我们为什么不能尝试一下呢?乔布斯重返苹果的时候,他已经是孤注一掷了.只是他很聪明,知道该怎么做.他做得很辛苦,但是再怎么辛苦也比不上最近几十年以来唱片公司的任何一位律师在艺人合同中进行的谈判那么艰难.”乔布斯抓住了一项重要的工具,那就是他对信息的熟练控制.他仿佛演练他和其他高管将要对外公布的每一句话.苹果只授权极少数高管可以公开就特定话题发表意见.乔布斯会非常认真地推敲他和其他高管能够对外发布的每一句话以及不能对外公布的信息. 哈佛大学教授David Yoffie估计,在2007年宣布推出和开始销售首款iPhone之间的几个月里,苹果未作任何公开声明就已经接到了价值4亿美元的免费广告,因此刺激的媒体都陷入了疯狂.乔布斯本人也非常小心,极其注意不过多透露消息,只有苹果要推销产品的时候,他才会出来说几句.他在2004年接受了癌症手术,但是直到手术完成之后,他才在致员工的电子邮件形式的公开信中发布了那个消息.后来,他同样是通过另一封致员工的公开信解释了他离开公司的情况,而且没有提到他或苹果其他高管的其他消息.在乔布斯的管理下,在没有得到公司媒体关系部同意的情况下,没有人有权公开发表意见.据说媒体关系部是直接向乔布斯汇报的.在撰写本文之前,记者曾想给乔布斯作个专访,但是苹果拒绝了那一要求.对于那起将苹果前首席财务官和法律顾问都牵连进去的股票期权倒填日期丑闻,乔布斯一开始保持沉默态度.在最后提交给证券交易委员会的文件中,苹果承认乔布斯在这件事上是知情的.为此,乔布斯公开发表了道歉,并且声称这个小插曲绝非苹果的本性.乔布斯管理着苹果的财务、消息、交易、设计等等. 但是最近乔布斯的病患也给人们提了个醒,告诉世人乔布斯也是一个人,而不是神.终有一天他也会西去,那时缺少了乔布斯的苹果还能走多远呢?苹果的未来今年9月,乔布斯重新回到了公众的视野里,他对苹果首席运营官提姆库克表示了深切的谢意,因为在他病休期间,暂时代他行使首席执行官权力的库克将公司打理得井井有条.在新款iPod的发布会上,乔布斯首先告知新闻记者、分析师和开发商,他现在拥有的肝脏来自于一位死于车祸的年轻人.随后他对库克和一班高管表达了谢意,因为他们在他不在的期间表现得非常能干. 随后,在库克的带领下,会场全体起立为乔布斯重返岗位而欢呼.由于乔布斯已经回到工作岗位,关于库克或者其他什么人准备接替乔布斯出任首席执行官的争论逐渐平息下去.苹果内部的等级制度是由一位被乔布斯称作“前苹果高管”的人决定下来的. 乔布斯的话还是很有份量的.众所周知,甲骨文首席执行官埃利森非常不喜欢讨论接班人这个话题.他在与朋友交谈过程中谈到乔布斯时说:“他是无可替代的.他创建了一个神话一般的品牌. 他开发出了大量的产品.不管他什么时候退休,我都希望他那个时候是健健康康的,还能开着游艇去逛地中海.但是人们肯定会非常想念他,因为苹果是一家消费品公司. 产品周期太快了.”现在已经有迹象表明,乔布斯已经开始教育他的团队,让他们能够在他暂时离开的时候维持公司的正常运作.一位认识苹果高管团队中的某些高管的知情人士说:“整个公司都已经被彻底被培训过了,完全象乔布斯那样去思考问题. 这就是为什么苹果在乔布斯离开的6个月里能够保持平静的原因.人们会想,如果乔布斯在,他肯定也会这么做.”实际上,乔布斯的影响力已经超出了苹果的范围.拉里佩奇和谢尔盖布林最近在纽约曾说过,乔布斯是他们心目中的英雄. 当Jeff Bezos发布亚马逊的Kindle 2阅读器的时候,他对乔布斯的羡慕是显而易见的.风险资本家、Netscape的联合创始人Marc Andreessen表示,他经常在给其他企业家的建议中以乔布斯作例子. 他说:“发布首款产品时应该考虑的问题是:乔布斯会怎么做?”展望下一个十年,乔布斯也许会这样问自己:在创造了1500亿美元的股东价值,改变了电影、电信、音乐、计算甚至零食和设计等行业之后,他下一步该做些什么呢? 鉴于他喜欢保密和给人意外惊喜的惯例,我们不妨等他自己在合适的时候为我们解答这个问题.。

商务英语阅读(第二版) 王关富 Unit8 The decade of Steve 课后答案

商务英语阅读(第二版) 王关富 Unit8 The decade of Steve 课后答案

Unit 8The decade of SteveExercises1.Answer the questions on the text.1)What makes the story of Steve Jobs so incredible and remarkable?So perseverant in his goals;Experiencing and overcoming so many difficulties and frustrations;Dominating in as many as four distinct industries;Running Apple so well------creatively, competitively, and profitably;Miraculously returning from his fatal diseases.2)What are the four markets that Steve Jobs reorganized and dominated?Music, movies, mobile telephones as well as computing.3)Why is he regarded as the rare businessman?Predilections unique to him.Distinctive design taste and elegant retail stores.Outside-the box approach to advertisingA showman, born salesman, and a magician.Legitimate worldwide celebrityAlways making products customers want to buy.Visionary but grounded in reality.Motivated not by money, but by a visceral ardor for Apple.4)What astounding achievements has Steve Jobs made up to date?Increasing corporate worth from $5 billion in 2000 to $170 billion now.Moving from cash drain and near bankruptcy to $34 billion in cash and market securities.275 retail stores in 9 countries with 73% share of US MP3 player market, and undisputed leadership in mobile phone innovation.His personal net worth about $5 billion.5)What was the first important success of Steve’s team?It created the first Macintosh (iMac), a breakthrough all-in-one computer and monitor. With drastic cost cutting and lucrative sales, it greatly improved the Apple’s balance sheet and financially got Apple well prepared for big investments and business leap.6)Why did Steve object to Ellison buy out Apple in 1997?Because he didn’t like people to second-guess the intention of his return (as making money) and wanted to take high moral ground so that he could easy and graceful decisions.7)Why did Steve build Apple-owned retail stores and some have doubts?Because through the building of retail stores, Steve could establish direct contact with customers, get to know what they really want, and fill the stores with allthose products.But some people at the time, even members of the board had great doubts about establishing retail stores. They are extremely nervous that the stores might become a risky cash drain.8)What are the outstanding qualities reflected from Jobs’integration ofmicromanagement with big-picture vision?# Micro-management:Consciousness/ dedication/ concentrationHe tries to know everything about Apple. He is involved in so many details that people can hardly believe. He is so detailed that he might tell an ad writer that the third word in the fourth paragraph wasn’t right.# Big-picture vision:Acumen for market changeHe recognized gorgeous design as differentiator for Apple.Creative, innovative and visionary in product developmentClients responded “Give me the next Steve Jobs”Knack for taking opportunities at the right momentHe made iTunes compatible with Windows and expanded Apple market to all PCs.He developed Apple’s own digital-music sales stores.9)How did Steve Jobs master the message?Carefully consider what he and Apple say and don’t say to the public.Rehearse time and again before speaking publicly.Authorize only a small number of executives to speak publicly.He is careful to avoid overexposure.Nobody is supposed to speak without the permission of Apple’s media relations team reporting directly Steve Jobs.10) How did Steve Jobs handle Apple’s stock options backdating scandal?He remained silent initially but later in the report to SEC he admitted and apologized for the change of option grant dates for employee benefits. He said it was totally inappropriate for Apple to do.11) Whom did Steve Jobs thank and why when he returned?He thanked Tim Cook (Apple’s chief operating officer) for excellent running of the company during his absence.He also thanked a twentysomething who died in a car crash for donating his liver.12) How do people feel about the future of Apple?Though some are worried about its future due to Steve’s health problem, most are confident about its future because:He is a fabulous brand and irreplaceable person.He has educated and influenced Apple employees well enough to think and behave like him.His influence has gone beyond Apple and become a hero for the IT industry.His pursuit for secrecy and surprise and proven brilliance will ensure greater successes for Apple in the future.2.Fill in each blank of the following sentences with one of the phrases in the listgiven below. Make changes when necessary.1)When the starlet was asked about her new boyfriend, she couldn’t help but gushabout him and their intimate plans for Valentine’s Day.2)The leaking of as many as 251,000 State Department documents, including secretembassy reports from around the world, is nothing short of a political meltdown for US foreign policy.3)With very critical views on the government economic policies, she often palsaround with those scholars who also take rather radical stance on economic issues.4)It is high time for everyone in the department to kick into full gear and fulfill oursales quota by the end of the year.5)The mother did whatever possible to prevent her son from hanging out with theguy who she thought was up to nothing good.6)Obama’s victory in the election was viewed by many as progress in the UnitedStates. But I think his ethnicity is beside the point.7)The neighbors said what happened was totally out of character for the womanthey knew as quiet and friendly.8)Unfortunately, the firm has not been able to pare) production cost to the level thatmatches its competitors in the market.9)On the back of strong corporate earnings reports from a number of firms last week,coupled with the improving unemployment rate, investor sentiment was bolstered on the first trading day of the week.10)The team is expected to take a vote tonight that could set in motion a new plan torevitalize the financial market.11)It was a long time before our business partners could catch on to what we reallyintended.12)As a shrewd man, he successfully pounced at the opportunity last year to becomethe marketing manager.3.Match the terms in column A with the definitions in column B:A______________________ B________________________________________ 1)market share A) A group of advisors, originally to a political candidate,for their expertise in particular fields, but now to anydecision makers, whether or not in politics. 62)cash drain B) The rate of new product development, which isgetting faster with more severe competition andfaster technological advancement. 103)shareholder wealth C) Percentage or proportion of the total availablemarket or market segment that a product orcompany takes. 14)net worth D) A group of executives employed to manage aproject, department, or company with theirparticular expertise or skills. 55)management team E) A person, project, business or company thatcontinues to consume large amounts of cash withno end in sight. 26)brain trust F) A person or firm that invests in a businessventure, providing capital for start-up orexpansion, and expecting a higher rate of returnthan that for traditional investments. 97)balance sheet G) The wealth shareholders get to accrue from theirownership of shares in a firm, which can beincreased by raising either share prices ordividend payments. 38)captains of industry H) A financial statement that summarizes acompany's assets, liabilities and shareholders'equity at a specific point in time. 79)Venture capitalist I) Total assets minus total liabilities, an importantdeterminant of the value of a company, primarilycomposed of all the money that has been investedand the retained earnings for the duration of itsoperation. 410)product cycle L) A business leader who is especially successfuland powerful and whose means of amassing apersonal fortune contributes substantially to thecountry in some way. 84.Translate the following passage into Chinese:头已秃顶,留着胡须的他坐在其超大的华盛顿办公室内谈论着经济话题,从眼神可看出显得疲劳。

chapter11王关富商务英语阅读译文.doc

chapter11王关富商务英语阅读译文.doc

第11课最近,我刚刚结束了魁北克五日之行,那是一座位于圣劳伦斯河畔古色古香、风景如画的小镇,今后,它将以“世界催泪瓦斯之都”载入史册。

我此行的目的是为了打入反全球化、反自由贸易运动的头脑人物内部,但问题是,那里根本没有“头脑”可寻。

我所看到的只是心绪的漫天宣泄,我面前是一派悲天悯人的景象。

显而易见,这里的稀缺之物是清醒的思考。

我来魁北克有个堂而皇之的理由,那便是采访美洲高峰会,这是一次跨越西半球三十四位国家首脑的聚会,会议最重要的议题是通过谈判,努力建立起美洲自由贸易区–一个地域跨越阿拉斯加至阿根廷的无贸易壁垒区域。

其实,我来魁北克是为了“人民的峰会”,那才是真正的亮点。

这一应运而生、有组织的活动看起来是要反映“人民的观点”,还会是别的吗?(我曾想,那些参加峰会、经选举产生的领导人是为此目的而来,但我有什么资格向“那些人民”提出质疑呢?)半球社会联盟由不同的社会团体组成,他们有着共同的思想意识和经济利益,他们共同反对贸易自由化。

该联盟这次邀请参加“反资本主义狂欢节”的都是激进团体,从极左到更极左,“狂欢节”在沿河畔搭建的硕大白色帐篷内举行。

加拿大政府好事做过了头,不仅资助了这项活动(其实是加拿大纳税人提供的资助),而且还为拉丁美洲的激进分子付费参加活动。

“反资本主义狂欢节”丝毫无愧于它的名称,有小丑、木偶表演、拉拉队长的呐喊、舞者和演员的表演,还有“愤怒的奶奶们”(一群不算太老辱骂大公司的妇女),甚至还有一个悬在空中、上面写着“实施安全贸易!”的巨大绿色安全套。

或许我最喜欢的是那些身着蓝色服装、面对由纸浆制成的女水神像歌唱并参拜的演员们。

除了此道风景,别无其他实质性内容,无论是在街面上,还是在各类有组织的“讲道论坛”中,情况均如此。

看一看下面的对话,这是我同一个保养得极好的年轻激进分子之间的谈话(当然喽,此人穿的是进口的牛崽裤和运动鞋)。

她向我挥动着拳头,肌肉松弛,毫无力量。

她的一位同志把我们之间的对话用一架日本摄象机拍了下来,摄象机的价值起码要比拉丁美洲人一年的平均工资还要多。

商务英语阅读(第二版)-王关富-Unit7-Can-Detroit-Be-Retooled-before-it's-too-late-课后答案

商务英语阅读(第二版)-王关富-Unit7-Can-Detroit-Be-Retooled-before-it's-too-late-课后答案

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。

王关富商务英语阅读第二版参考译文分析解析

王关富商务英语阅读第二版参考译文分析解析

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)。

王关富商务英语阅读第二课译文

王关富商务英语阅读第二课译文

第2课对于新世纪,我们得这样说:我们生活在一个有趣的时代。

差不多两年半之前,世界经济陷入了20世纪30年代经济大萧条时期以来最惨重的低迷状态。

世界贸易进程大幅放缓。

长失业队伍也越来越快,这在旧工业经济体系表现尤为突出。

原来坚如磐石的金融机构也消失了,似乎还不如老套的魔术师变的花束看起来真实。

虑到经济衰退幅度如此的跨时代,经济复苏进程会很慢也是理所当然的,对此我们不应该感到吃惊。

事实也正如我们所料,复苏进程确实很慢。

全球经济政治精英乘直升飞机、大巴、小汽车或是火车前往达沃斯参加一年一度的世界经济论坛会议,此次会议上,全球经济政治精英会发现自己开始接受一些闻所未闻的事情。

当今的情况是这样的。

自工业革命以来的二百多年间,世界出现了两大经济体。

一个支配着技术创新和贸易,累积了大量财富。

另一个在政治上主要受前者的控制,在经济上一直处于贫穷状态并且在技术上存在依赖性。

两者的鸿亘古存在。

发达国家----美国、加拿大、西欧、澳大利亚、新西兰、日本及亚洲四小龙,以世界总人口的16%输出着世界将近70%的产品。

世界形势正发生着变化。

在发达国家的富人们努力重新刺激经济增长并维持社会福利的时候,曾经的穷人们却已经摆脱了经济困境。

像中国和印度这样大的新兴经济体已经找到了国内需求的新来源。

非洲的部分地区也正吸引着对他们真正感兴趣的投资者。

总之,发展中国家的力量撑起了世界经济。

据世界银行估计,2010年,中低收入国家的经济增长约占世界经济增长的一半(46%)。

经济回暖,令人欣慰从长远看来,这真的是个好消息。

随着几十亿的贫苦人们开始变得富有起来,他们也将能够支付得起发达国家的人们所拥有过的享受,而这些享受在富人们眼中仅仅是普通的生活附属品而已。

但是,在庆祝一个新的经济秩序建立之前,我们必须克服国与国之间以及国家内部存在的深层分歧。

否则,世界将会重新陷入以邻为壑的民粹主义,最终每个人都沦为乞丐,我们仍未脱离困境。

不过首先让我们评估一下目前情况。

商务英语阅读第二版chapter 5 Japan Goes from Dynamic to Disheartened 课文翻译 王关富

商务英语阅读第二版chapter 5 Japan Goes from Dynamic to Disheartened 课文翻译 王关富

1.日本,大阪——像许多日本中产阶级一样,小企业主正人华20年前享有的富裕生活为世人所艳羡。

他购买了一套价值50万美元的公寓,时常去夏威夷度假,其座驾是一辆老款的奔驰轿车。

2.但慢慢地,他的生活水平随同日本的整体经济状况一道,逐渐走向崩溃。

刚开始时,他被迫减少了去国外旅行的次数,后来就彻底不去了。

随后,他卖掉了奔驰,换了一款更便宜的国产轿车。

去年,他卖掉了他的公寓——售价仅为17年前购房款的三分之一,还不及依然背负的按揭贷款。

3.“过去的日本,光鲜且乐观,而现如今的人们不得不静悄悄地压低生活质量,紧缩度日,”49岁的正人华说。

在接受采访时,他要求记者不要披露其全名,因为他依然无力偿付拖欠的11万美元按揭贷款。

4.在近代史中,没有几个国家的经济财富像日本这样,经历了如此惊人的扭转。

上世纪80年代,借助位居史上最大规模之列的股市投机及房产泡沫,日本一举成为第一个挑战西方长期霸权的亚洲国家,谱写了一曲源自亚洲的成功故事。

5.但这些泡沫最终于80年代晚期和90年代初期爆裂,日本旋即陷入了一个缓慢但不间断的衰落进程,庞大的预算赤字和海量流动性的涌入都无法扭转这一趋势。

在迄今差不多一代人的时间里,这个国家一直深陷通货紧缩泥沼(低增长,物价螺旋式下落),不能自拔。

在此过程中,这只昔日的经济猛兽已雄风不再,失去了在全球经济中的傲人地位。

6.如今,随着美国和其他西方国家正竭力摆脱债务及其自身的房产泡沫,越来越多的经济学家将日本当下的黯淡处境视为上述国家的未来走向。

甚至在美联储主席伯南克酝酿新一轮非常规措施,以刺激经济之际,对美国和许多欧洲经济体的忧虑依然与日俱增。

许多人担心,这些经济体将面临长期的低增长,甚至有可能出现持续的通货紧缩——这是自大萧条以来,在日本之外的主要经济体中所从未见过的一幕。

7.许多经济学家依然颇具信心地认为,美国将避免日本式停滞,这主要是因为美国的政治制度具有更强的反应性,美国人对于资本主义的创造性破坏具有更大的容忍度。

商务英语阅读(第二版)-王关富-Unit4The-Incredible-Shrinking-Europe-课后答案

商务英语阅读(第二版)-王关富-Unit4The-Incredible-Shrinking-Europe-课后答案

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 are closer 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 list given 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 financial pressure.3) In terms of the information from the Universe he is apathetic and sometimes irritable, 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 a moment's notice.7) The whole machinery of civilization will break down if this doctrine wins in the war.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 its auto 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, labor union, government, or otherorganization for its employees. 6E) A form of collectivism by means of whichpeople collectively pool their risk, in this casethe risk of incurring medical 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 its goals, visions and ambitions inpolitical, economic, cultural fields, etc. andactions, circumstances, and decisions to achievethem. 58) soft power I) A cabinet of a parliamentary government inwhich several parties 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。

王关富商务英语阅读第二版参考译文chapter10

王关富商务英语阅读第二版参考译文chapter10

U10The alchemists of finance金融魔法点石成金May 17th 2007From The Economist print edition(本文由ECO论坛dtchengxc翻译,原文版权归经济学人集团(The Economist Newspaper Limited)所有,译文版权归译者所有,未经授权,不得转载,谢谢合作!)漫画作者玛丽亚•吉夫斯(Maria Jeeves)Global investment banks are taking ever more risk, and are devising ever more sophisticated ways of spreading it, says Henry Tricks. Is that reassuring or worrying?亨利•特里克斯(Henry Tricks)说:“全球的投资银行正承受着越来越大的风险,也在设计着越来越复杂的分散风险的方法。

”这究竟是会让人放心还是让人担心?AT LEAST since 1823, when Byron's Don Juan described “Jew Rothschild, and his fellow Christian Baring” as the “true Lords of Europe”, investment bankers have inspired awe, envy and, rightly or wrongly, a measure of disdain. Exactly 100 years ago the undisputed patriarch of the modern industry, J. Pierpont Morgan, stemmed the Panic of 1907, a financial crisis caused by unregulated trusts (the hedge funds of their day). Acting, in effect, as lender of last resort from his Wall Street office, he was briefly feted before Americans realised the danger of having such power vested in one man. Cartoonists then mercilessly mocked him. After his death in 1913 the Federal Reserve was set up.不晚于1823年——那时拜伦(Byron)在《唐璜》(Don Juan)中将“犹太人罗思柴尔德(Rothschild)和他的同伙基督徒巴林(Baring)”称为“欧洲真正的主宰”,投资银行家们博得了敬畏、羡慕以及一定程度的蔑视——不管这正确与否。

王关富商务英语阅读第二版参考译文chapter10

王关富商务英语阅读第二版参考译文chapter10

U10The alchemists of finance金融魔法点石成金May 17th 2007From The Economist print edition(本文由ECO论坛dtchengxc翻译,原文版权归经济学人集团(The Economist Newspaper Limited)所有,译文版权归译者所有,未经授权,不得转载,谢谢合作!)漫画作者玛丽亚•吉夫斯(Maria Jeeves)Global investment banks are taking ever more risk, and are devising ever more sophisticated ways of spreading it, says Henry Tricks. Is that reassuring or worrying?亨利•特里克斯(Henry Tricks)说:“全球的投资银行正承受着越来越大的风险,也在设计着越来越复杂的分散风险的方法。

”这究竟是会让人放心还是让人担心?AT LEAST since 1823, when Byron's Don Juan described “Jew Rothschild, and his fellow Christian Baring” as the “true Lords of Europe”, investment bankers have inspired awe, envy and, rightly or wrongly, a measure of disdain. Exactly 100 years ago the undisputed patriarch of the modern industry, J. Pierpont Morgan, stemmed the Panic of 1907, a financial crisis caused by unregulated trusts (the hedge funds of their day). Acting, in effect, as lender of last resort from his Wall Street office, he was briefly feted before Americans realised the danger of having such power vested in one man. Cartoonists then mercilessly mocked him. After his death in 1913 the Federal Reserve was set up.不晚于1823年——那时拜伦(Byron)在《唐璜》(Don Juan)中将“犹太人罗思柴尔德(Rothschild)和他的同伙基督徒巴林(Baring)”称为“欧洲真正的主宰”,投资银行家们博得了敬畏、羡慕以及一定程度的蔑视——不管这正确与否。

商务英语阅读王关富答案

商务英语阅读王关富答案

商务英语阅读王关富答案【篇一:商务英语阅读(第二版) 王关富 unit10 banking课后答案】>the alchemists of financeexercises1. questions on the text1) what’s the main difference between commercial banks and investmentbanks?in todays business environment, the main business of commercial banks is to collect deposits and make loans, while that of investment banks is to underwrite stocks and bonds and advise companies on mergers and acquisitions.2) why do investment banks try to keep quiet about their big profits?investment banks try to keep quiet about their big profits for two major reasons: first, they are under more scrutiny by regulators and investors; second, private equity and hedge funds have overtaken them in raising money and making excessive bets.3) what changes have taken place in the financial markets since the 1980s?the main changes since 1980s have been the rapid growth of financial instruments with unprecedented breadth, depth and richness, brought out by technology and innovation. examples of those financial instruments are public and private debt securities and derivatives.4) why do bankers and regulators worry about a possible collapse of aninvestment bank?they worry about a possible collapse of an investment bank because such an event will have serious implications for the whole financial system, and it is vital to know how such institutions evolve, how they handle risks and how well those risks are spread around the financial system.5) which three factors can explain the huge profit for investment banks?those factors are: first, the alchemists trick of turning debt (mostly leaden) into derivatives (mostly liquid); second, the emergence of a new class of leveraged client (hedge funds and private equity); third, seeking out new capital markets and clients around the world. meanwhile, in all these pursuits the banks are now using their own money, to differing degrees.6) what does the expression “the wild east” refer to?that expression refers to the new markets emerging in europe and asia. the introduction of the euro in 1999 and the rapid growth of economies in those regions have attracted investment banks.7) what makes london an impressive rival to new york as a global financialcenter?london has become an impressive rival to new york as a global financial center because: first, london trades a wide range of assets and is regulated on the spot; second, london is a hub for europe and continent european countries can raise capital there; third, london is also regarded as a springboard for emergingmarkets such as china and russia.8) how do investment banks manage the risks?investment banks try to find the most talented people to handle the intricate assets; they measure the correlations between different financial instruments in an attempt to spread risk; they invest hundreds of millions of dollars a year in technologies to measure and stress-test risks; they also try to boost their risk-weighted capital.9) according to the text, what’s t he relationship between revenue and risk infinance?the relationship between revenue and risk is fundamental in finance. risk-taking is awarded by possible high revenue. low risk often means less revenue. however, in order to gain more revenue, you need to take more risks. you should carefully calculate the risk and balance it against revenue beforehand, or you will pay a high price for foolish investment bet.10) which one is more important to the growth of the finance industry,innovation or regulation?based on the text, both innovation and regulation are vital to the healthy growth of the finance industry. without innovation, investors have fewer places to gain returns on their money and those seeking money would have much more difficulties in obtaining it. thus innovation boosts the rapid growth of finance industry and brings benefits to more people both in developed countries and developing countries. however, innovation without proper regulation, such as the securities that no one knows how to exactly measure their risk, could lead the growth of the finance industry to a disastrous end.2. fill in each blank of the following sentences with one of the phrases in the list given below:1) the government has taken many measures to2) employees are asked to3) regulators demand the monopoly company to smaller entities.4) it’s reported that china telecom plans to its network services unit in hk.5) the traffic had for miles because of the accident.6) according to those representatives, new forces are in the refiningindustry.7) we shall never know how she managed to acquire her promotion; there is no wayto8) a nationwide law aimed at stamping out passive smoking in public spaces inswitzerland on saturday.9) innovations will dramatic changes in this industrial sector.10) i would say that,3. match the terms in column a with the explanations in column b:1) liquidity crisis a) a bank that provides checking accounts,2) leveraged buy-out3) credit crunch4) over-the-counter securities5) initial public offering6) commercial bank7) stress test8) investment bank9) hedge fund10) risk management savings accounts, and money market accounts and that accepts time deposits. b) a company issues common stock or shares to the public for the first time. c) the situation in which a business experiences a lack of cash required to grow the business, pay for day-to-day operations, or meet its debt obligations when they are due, causing it to default. d) the acquisition of another company using a significant amount of borrowed money (bonds or loans) to meet the cost of acquisition. e) a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the clients agent in the issuance of securities. f) an aggressively managed portfolio of investments that uses advanced investment strategies such as leveraged, long, short and derivative positions in both domestic and international markets with the goal of generating high returns. g) a sharp increase in the interest rates and a strong decrease in allocated credits. h) a process that measures whether one institution has adequate capital and/or assetsto respond effectively to various, adverse scenarios usually presented by a computer program. i) securities traded in some context other than on a formal exchange such as the nyse, etc. j) the identification, assessment, andprioritization of risks followed by coordinatedand economical application of resources tominimize, monitor, and control the probabilityand/or impact of unfortunate events or tomaximize the realization of opportunities.4. translate the following into chinese:在去年信贷危机爆发的时候,联邦的监管者们向国内的各主要金融机构注入了数以百亿计美元,而他们这么做的原因在于这些银行是如此之大以至于官员们担心它们的破产将会拖垮整个金融体系。

商务英语阅读_第二版_王关富_unit_12

商务英语阅读_第二版_王关富_unit_12

Unit 12Global M&AExercises1.Answer the questions on the text.1)What does the author expect M&A activity to be in 2011?The author expects that M&A activity will continue to growth in number and strength with the global economic recovery and the improvement of financial and credit market conditions.2)What must companies also consider about M&A besides favorable factorslike abundant cash and improving economic conditions?Companies must also consider the recent opposition to certain M&A deals by activists and some shareholders and their preference to other strategies.3)What do you think unsolicited transactions, hostile acquisitions and dealjumpings are in common?Passivity on the target company and out of its expectation.4)What may further encourage unsolicited transactions?Recent success of hostile acquirers in forcing target companies to negotiate and accept deals though occasionally taking a long time.5)What are the features and trends of private equity firms?They are seeking an exit from portfolio companies and are seeing M&A as an increasingly attractive alternative to capital market transactions.6)What is an tender offer?It is a public, open offer or invitation by a prospective acquirer to all stockholders of a publicly traded corporation (the target corporation) to purchase some or all of their shares. The price offered is usually at a premium to the market price. In a tender offer, the bidder contacts shareholders directly; so the directors of the company may or may not have endorsed the tender offer proposal.7)What are the key deal issues in M&A transactions?(1)reverse break-up fees(2)caps on damages payable by acquirers failing to close(3)the availability of specific performance remedies to compel a party tocomplete an acquisition8)How do US and UK takeover systems differ?In US takeover system, state case law allows target boards to take defensive measures within certain limits.In order to correct the perceived imbalance, UK disallows deal protection mechanisms; sets a default period in which a bidder will have to either announcea fully financed bid or walk away; and implements other measures to enhancebid-related disclosure.9)What are the views on the burden of extending bids into the U.S?(1)Some of both European regulators and bidders fear that the extension of paperbids into the US may be too burdensome and the exposure to the US plaintiffs’ bar and US courts may be too uncertain and risky.(2)But the case of Morrison v. NBA may have changed European regulators andbidders view because the pending anti-fraud-based actions against non-US companies were either dismissed or the damages to companies ere greatly reduced(3)The convergence between European and US securities regulations haveproduced positive effects, may further alleviate such concerns, and would encourage M&A players to consider using more shares in cross-border deals.10)How is M&A in emerging market expected to develop in 2011?(1)It is expected to grow over one-third in 2011, taking a larger share of globalM&A activity, particularly true in BRIC nations.(2)Sovereign wealth funds abundant in funds will continue to play a key role ininbound M&As and, meanwhile, private equity is to be much more important source of funds for M&A activities there.(3)Companies from emerging markets will engage in more outbound M&A dealsfor natural resources and market growth as well as inbound ones.(4)Multinationals from the developed countries may also go on M&A activitiesin emerging markets either for market footholds or growth opportunities. 11) What is said about US M&A deal enforcement?(1) The official agencies FTC and DOJ have continued to pledge vigorousmerger enforcement and have dedicated significant resources to updating themerger review process.(2) They have also proposed changes to pre-merger notification form.(3) The Antitrust Division has enhanced enforcement in vertical mergers as wellas horizontal mergers.12) What are the trends of EU antitrust enforcement?DG COMP and its Chief Economist team are paying close attention to the US-led debate over the need to define marketsDG COMP has increased its reliance on the counterfactual analyses for judging whether a merger prevents effective competition.2.Fill in each blank in the following sentences with one of the phrases in the listgiven below. Make changes when necessary.1)BRIC nations would support the country in the areas of education, health andagriculture, among others.2)In the second quarter we successfully secured a non-dilutive source of growthcapital on very favorable terms sufficient to drive both near and longer-term initiatives.3)We seem to value time in cyclical phases and seasons rather than in minutes andhours.4)The world is facing far more challenges than before in the context of intensifiedglobalization.5)In the debate Team A seemed to get upper hand at the beginning but quickly loststrength.6)He would discuss with the officials of Bulgaria various topics such as investmentclimate, the fight against corruption, and its accession to the European Union. 7)We are urging local education and city leaders to ramp up the pressure on theirgovernments to cough up more cash for new schools in their areas.8)Potential mayoral candidates are already flush with funds from their supporterfor the coming election.9)The government has been urged to follow through on its pledge to reform thecurrent wage system.10)The birth of a new nation in Sudan may give rise to numerous thorny issues,including sharing of resources.3.Match the terms in column A with the definitions in column B.A____________________ B__________________________________________ 1) equity market A) An asset class consisting of equity securities foroperating companies that are not publicly traded on astock exchange, including venture capital, growthcapital and mezzanine capital. 52) antitrust agency B) The market, also known as stock market, whereshares are issued and traded, either through exchangesor over-the-counter markets. 13) synergy C) A merger occurring between companies producingthe same or similar products or offering similarservices. 84) due diligence D) An organization responsible for prohibitingpractices that restrain competition, includingprice-fixing conspiracies and acts designed toachieve monopoly power. 25) private equity E) A company in which a venture capital firm, buyoutfirm, holding company, or other investment fundsinvests. 106) vertical merger F) A market in which individuals and institutionstrade financial securities in order to raise funds. 9 7) tender offer G) Additional effectiveness achieved from mutuallyadvantageous integration or compatibility of effortsor resources between business participants. 38) horizontal merger H) An investigation of a business prior to signing acontract, for example, a potential acquirer evaluatinga target company or its assets for acquisition. 49) capital market I) A public, open offer by a prospective acquirer to apublicly traded corporation to tender its stock forsale at a specified price during a specified time. 710) portfolio company L) A merger between two companies producingdifferent goods or components for the finalfinished product, for example, a car manufacturermerging a tire company. 64.Translate the following passage into Chinese.去年,由于全球兼并业务突破了网络泡沫时代的惊人水平,市场又跟1999年那样派对聚会。

商务英语阅读翻译作者王关富陈苏东陈建平等编

商务英语阅读翻译作者王关富陈苏东陈建平等编

高级商务英语阅读课文译文第1 课主课文译文新长征―中国制造‖这个标记很久以前就不新鲜了,它贴在鞋子上、玩具上、服装上,以及为跨国公司制造的其他商品上,世界各地到处可见。

现在真正新鲜的是以中国品牌出售的中国制造的商品。

目前中国只有为数不多的几家公司拥有足够的财力和管理知识来打造国际名牌;其余的绝大多数公司还在为在国内获得知名度而努力奋斗着。

但是正在海外市场上试水的各大先锋公司,很有可能把事情做大。

一些人认为,在创业精神饱满的本地管理层的协助下,或者在一些想在其产品系列里添加新产品的外国公司的协助下,中国商品在极具竞争力的价格的基础上,若把卖点放在产品质量和异国情调上,那末10 年之内,中国品牌将一个一个地走向全球。

总部在香港的广告公司中国精信(Grey China)的执行董事陈一木丹(Viveca Chan)说:―如果世界上只有一个国家具备创立全球品牌的潜力,那么这个国家就是中国。

‖短期之内,中国商品最有希望打入国际市场的当属中草药和特色食品,当然也包括那些体现中国浪漫并具有异国情调的产品,例如化妆品、时装和音乐作品。

中国总部设在上海的泰勒·娜尔森·索福瑞(Taylor Nelson Sofres)市场调研公司的中国区总经理Kevin Tan 说:―与中国相联系的神秘色彩还有许多。

化妆品是种靠形象推销的产品,假如你要做化妆品,你会一下子就发现,中国化妆品来头不小。

‖努力走向世界的中国品牌还有一些领导时尚潮头的饮料和啤酒品牌,也包括家用电器等具有品牌潜力的产品,它们都能以竞争性的价格提供高品质的产品。

这些中国品牌中的一部分,最终将会通过合资、兼并和收购的途径走向国际市场。

而对于合资双方中的外国投资者来说,这些品牌则将成为他们更快地进入中国消费市场和销售渠道的载体,同时这些中国品牌也能进一步充实国外投资者在国际市场上已经确立的优质品牌的阵营。

整个20 世纪90 年代,―中国品牌‖这个概念一直在发育着,而目前在国内受到的重视更大了。

  1. 1、下载文档前请自行甄别文档内容的完整性,平台不提供额外的编辑、内容补充、找答案等附加服务。
  2. 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
  3. 3、如文档侵犯您的权益,请联系客服反馈,我们会尽快为您处理(人工客服工作时间:9:00-18:30)。

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)。

CLSA经济学家AR说,”政府对大多数资本密集型产业的控制,让我看好中国的未来。

政府会对这些领域的公司说,继续花吧,不要由于你们的投资计划“。

尽管最大的出口及股票市场出现下滑,中国经济在09年看上去增加7%多,虽比近些年两位数(double-digit)增速有所下滑,但与其他国家相比仍然坚挺。

随着国有银行放松信贷(loose credit),企业贷款率切实(actually)增加。

摩根斯坦利的亚洲首席SR说,在一个投资支持可持续发展,并占GDP的40%的国家,政府再次增加投资以抵抗对增长的威胁。

他又说,在危机时期,中国的指挥控制系统切实比其他市场基础系统有效。

中国的成功主要因为实用主义,这一主义更注重缓慢但平稳地转向更自由市场。

邓小平称之为”摸着石头过河“。

政府伸出强有力的手的同时,也解放现在占至少一半经济成分的私人领域,允许70%的国有公司以私人公司形式运行。

与20世纪90年代初期的约17%有所增长。

根据CLSA,60%的GDP增长及2/3的新增就业来自私人领域。

1995年,中国展开一场革命性的国企拆分(dismantle),仅在接下来的六年就裁掉460万国企职工,相当于法国意大利的全部工人数。

接下来几年,精简继续,国企盈利率迅猛上升,以及允许私企在经济中发挥重要作用。

R说,这是一场长时间的剧变。

中国尤其想避免俄罗斯90年代初大爆炸改革导致的混乱,这场改革产生了腐败的,克里姆林支持下的寡头政治(oligarchy),至今仍困扰俄罗斯。

在20世纪80年代,平均年收入只有760元,(约合500美元)的发展初期,中国已经对西方开放投资市场。

而日本和韩国并未在发展初期开放。

这是由于邓小平意识到全球贸易是摆脱国家贫穷的出路。

他同样鼓励农民来城市寻找工作,这对于一个国家是冒险的举动。

在20世纪90年代末期亚洲金融危机后,中国加入世贸组织,旨在国内市场更广泛的开放第3课 Time to RebalanceGreg Ip表示,美国经济要从依靠消费和借贷转向依靠出口和储蓄,这将会是几十年来规模最大的经济转型。

Steve Hilton仍旧记得2008年雷曼兄弟破产之后长达几个月的绝望感。

在Hilton先生经营的物产公司Meritage Home的销售部办公室里,顾客挤破了脑袋,为的不是买房,而是想要撤回他们已经签订的合同。

“我有一阵子似乎觉得世界末日即将来临。

”他如此回忆。

接下来的几个月里,希尔顿先生不断努力想要挽救他的公司。

他没有买下经济繁荣时期公司在亚利桑那州、佛罗里达州、内华达州和加州抢购到的房产,因此损失惨重。

最终他解雇了2300名员工中的四分之三,也重新设计了其拥有的房屋,目的是将建造成本减半:更简易的屋顶,合乎标准的窗户大小,更小的选择余地。

12英尺的天花饭、富丽堂皇的楼梯、花岗岩台面,这些经济繁荣时期人人都想要的装饰都被略去。

现在的Meritage公司仅为能贷到款的顾客提供服务,即那些享有联邦ZF担保贷款的初次购房者。

公司正变的更加节约务实,以求挣扎着生存下去。

这种情况对于整个美国来说都是一样的。

几乎每个行业都在过去的两年里裁员,那些直接面向消费者的行业尤甚。

房屋制造和汽车制造业裁员近三分之一,零售业和银行业裁员8%。

随着经济不断复苏,一些工作岗位会重现,但大部分不是,因为这并不是一场普通的经济萧条。

靠泡沫支持的资产价格、愈发易容易申请到的带快和廉价的石油令美国的消费主义不断滋长,而现在,这样的情况一去不复返了。

现在,美国经济即将开始几十年来规模最大的经济转型。

这种宏观经济层面上由债务和消费转向储蓄和出口方式的转变会带来微观经济的变革:不同的生活方式,各地不同的工作。

本篇特别报告将会详细描述此次经济转型及其复杂性。

此次经济危机及随后的经济萧条是的以往的经济发展模式遭遇了一个急刹车。

尽管最近经济小幅回暖,但房价较峰值时已下跌29%,股价的下跌幅度也很相似。

人民家庭财产与2007年相比缩水12万亿美元,相当于总数的18%。

人民可支配首日回到了1995年的水平。

如果消费者感觉自己的财产变少,那么他们就不太愿意消费。

银行与不太愿意借贷——银行已提高了他们的贷款发放标准,背后则是监管者的敦促。

监管者们对于当初经济繁荣的时候没有更加谨慎的对待境外抵押贷款和实行宽松的借贷政策后悔不已。

消费者负债从20年前的平均占可支配收入不到80%上升至2007年的129%。

麦肯锡全球研究所指出,如果前半个世纪的几次经济危机有什么借鉴作用的话,那就是美国消费者将会用接下来的六到七年努力将他们的负债减少到可控制的范围内。

这已经是对经济活动的一次重组。

消费者的支出和房价已经从1991年占GDP70%的水平上升至2005年的76%。

截至去年,该数字又回落至73%。

不过依照国际标准,仍属较高水平。

财产贬值、信用紧缩和愈发昂贵的油价给经济的影响已经十分明显。

鲜有人买房,即使有人买,买的也是面积有限很不昂贵的房子。

2008年新置房产的中位数13年来首次下降。

流通中的信用卡数量也下降了将近五分之一。

美国运通正撤离信用卡市场,相反,该公司正在教育消费者如何使用签帐卡(签帐卡按月还款)以控制消费。

一般情况下,经济萧条之后是强劲的复苏,因为累积已久的消费需求会重新发挥作用。

本次经济萧条是的GDP下降了3.8%,这是自第二次世界大战以来下跌幅度最大的一次。

因此在经济复苏的过程中,经济总量可能会按照预估的6-8%的速度增长,失业率会持续下跌,与本次经济危机严重程度相似的1973-75 和1981-82的两次经济危机都证明了这一点。

No bounce-back没有复苏但是由于本次经济萧条是由金融危机引发的,后者严重削弱了金融体制有效分流投资的能力,使消费者和企业在经济繁荣期积累下的多余建筑、装备和债务中费力挣扎。

这样的经济危机之后的复苏通常缓慢无力,实际上经济复苏大约九个月后GDP的年增长率仍在4%的水平。

失业率在全国范围内突飞猛进,尽管二月曾有小幅下降。

所以美国若想避免日本经济泡沫破碎之后出现的经济停滞,应该到哪里寻找强劲的需求呢?短期看来联邦ZF已经开始借贷——数目相当于今年GDP的10%——来抵制个人消费和投资的下降趋势。

接下来的几年里此项措施会逐渐取消。

奥巴马希望财政赤字能够下降到仅占GDP的3%的水平,虽然这个目标如何实现尚不清楚。

实际上如果经济形势保持这种没落的态势,ZF可能不太愿意取消刺激计划,以免经济再次陷入萧条。

信贷紧缩和消费者借贷减少并不是经济改革的唯一原因。

一个不太引人注目但十分重要的原因是能源价格的上升。

强势的美元和充足的供应是的二十世纪九十年代的油价维持在较低水平,使美国过分依赖进口,因此在此次危机爆发之前的几年里,美元的贬值和新兴市场的强劲需求共同给全球能源生产能力施加了压力。

自二十世纪九十年代以来,石油价格已经上涨了四倍,这大大改变了对消费者和厂家的生产消费活动。

多用途运动车(SUV)不再流行,推动节能和使用可再生能源的政策更为大胆,制造商也在美洲大陆和沿海海床下发现了更多的石油储备。

对于原材料的进口自2006年以来已经下降了10%,并估计将保持下降趋势。

前几年油价上涨之后天然气价格随之上涨,石油勘探公司用尽一切新方法想要发掘出德州和宾州蕴藏于页岩中的天然气。

国内页岩天然气的存在会大幅减少美国的天然气进口。

美国的经济地理也会随之改变。

廉价的汽油和充裕的信贷使得上百万美国人涌入南部各州和边远郊区购买附带有大片土地的房屋。

但是现在房产泡沫的破碎把他们紧紧固定在这些他们卖不出去的房子上。

郊区人口增长放缓,现在全球范围内不断崛起额知识密集型产业更加青睐那些拥有优良基础设施和熟练专业技能的城市中心。

有一些是传统的城市核心比如纽约,另一些是近郊的城市,它们可以为市民提供就业机会和价格公道的房屋,上下班所需时间也不长。

劳动生产率的提高会增加收入和利润,这会使消费者在偿还一部分债务的同时继续消费。

这种对于促进增长的混合作用是有益的:建筑业的劳动生产率尚未提高,但是在出口方面多产的公司往往表现出色。

然而不健全的金融体制会使得那些急需资本的创业者很难获得融资援助,所以创新会受到影响。

商业投资的前景取决于到底是投资给仪器设备还是地产。

对于仪器设备的消费应该会十分强劲,因为在经济繁荣期很大程度上已经避免了产能过剩的情况。

实际上在2009年第四季度,该项消费的年增长率达到了19%。

二月Cisco的老总John Chambers把该趋势称作“我职业生涯中见到过的最有利最积极的经济回转。

”The road to salvation自救的道路由于消费者重新开始储蓄,美国公司必须面向海外求得市场。

有很多地方可以弥补国内的市场萧条。

来自低工资国家,主要是中国的有力竞争已经使得美国国内工业品市场比如家具、纺织和电子产品被迅速占据。

相关文档
最新文档