经贸英语Unit 8

经贸英语
Text A: Background Information
2. The Goldman Sachs Group, Inc.
It is a global investment banking and securities firm which engages in investment banking, securities, investment management, and other financial services primarily with institutional clients. Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in the Lower Manhattan area of New York City, with additional offices in major international financial centers. The firm provides mergers and acquisitions advice, underwriting services, asset management, and prime brokerage to its clients, which include corporations, governments and individuals. The firm also engages in proprietary trading and private equity deals, and is a primary dealer in the United States Treasury security market.
Unit Eight
经贸英语
Content
Warm –up Text A Business English Translation Extended Knowledge
经贸英语
Warm –up Activity
Some Questions: 1. For what have the Chinese authorities adopted a more
expansionary macroeconomic stance?
经贸英语
Warm –up Activity

Key
The impact of the international financial and economic turmoil on China‘s economy has been manageable so far, but is expected to intensify. Thus, as in earlier global downturns, China‘s export growth is likely to be low in 2009, even with expected continued market share gains. Against this background, the authorities have adopted a more expansionary macroeconomic stance, and higher government-influenced spending is going to play a key 经贸英语 role in 2009.
Merrill Lynch is the investment banking and wealth management division of Bank of America. With over 20,000 brokers and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York Stock Exchange under the ticker symbol MER. The firm was involved in several of the major financial scandals of the last 20 years, including those centred on Enron and financial derivatives, resulting in many multi-million dollar fines. It ceased to exist as a separate entity in September 2008 at the height of the 2008 Financial Crisis, having been acquired by Bank of America.
Warm –up Activity
Some Questions: 2. What could we know about 10-point plan in this passage?
经贸英语
Warm –up Activity
Key Since the summer of 2008, the authorities have taken several steps to support growth, culminating in November with a 10-point plan to stimulate domestic demand and growth. The emphasis will be on accelerating and increasing infrastructure and other investment, although of a different nature than in the wake of the Asian crisis, with many projects focusing on broad long-term development and improving living standards. Most of the 10 elements mean higher direct government-influenced
经贸英语
Key can use the opportunity of the fiscal stimulus package to take more rebalancing measures, including on energy and resource pricing; health, education, and the social safety net; financial sector reform; and institutional reforms.
经贸英语
Text A: Background Information
3. Citigroup Inc. (branded Citi)
It is a major American financial services company based in New York, NY. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group on April 7, 1998. Citigroup Inc. has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. It is a primary dealer in US Treasury securities. Citigroup suffered huge losses during the global financial crisis of 2008 and was rescued in November 2008 in a massive bailout by the U.S. government.
经贸英语
Warm –up Activity
Key spending—in the form of investment or consumption— and should thus have a measurable impact on output in the short term. The stimulus package contains many elements that support China‘s overall long-term development and improve people‘s living standards. Some of the stimulus measures give some support to the rebalancing of the pattern of growth from investment, exports, and industry to consumption and services. The government
经贸英语
Warm –up Activity
Translation
十一五规划提出的均衡发展的目标提供了良机。十点 刺激方案包括了很多有助于中国经济长期发展和提高 人民生活水平的内容。其中某些刺激措施部分支持了 政府所设定的实现经济增长由投资、出口和工业拉动 变为由消费和服务业拉动的目标。政府应该利用这一 揽子刺激政策的机会推动更多的结构调整措施：包括 能源和资源定价机制、医疗和教育、社会保障、金融 改革，以及制度改革。
Warm –up Activity
经贸英语
Warm –up Activity

Translation 中国经济季报(2008年11月) (节选) 国际金融和经济动荡对中国经济的影响到目前为止 还处在可控制范围之内，但预计将会加深。国的金 融体系相对来说还是隔离于国际金融市场的，因此可 以避免受到直接冲击。实体经济方面，由于新兴市场 的需求直到最近仍较旺盛，且中国凭借强劲竞争力提 高了国际市场份额，出口总体增长仍较为有力，但不 同行业的出口表现有很大差异。今后一段时间，全球 金融危机的影响将进一步扩大，由此引起的风险规避
经贸英语
Warm –up Activity
Translation
保增长的十点方案。虽然与1997年亚洲金融危机后的 措施有所不同，但方案的重点仍是加速加大基础设施 和其他领域的投资，其中很多项目是着眼于长期经济 发展和改善民生。由于十点方案的大部分内容都是要 求增加政府主导性支出——或是政府投资，或是政府 消费，因此会对短期增长有很明显效果。基于目前对 全球经济走势的预期，我们预测2009年中国GDP增长约 为7.5%，其中一半以上的增长来自政府主导性支出。 经济刺激政策为中国推动经济增长方式转变、实现
经贸英语
Warm –up Activity
Translation
意识上升和去杠杆化过程将会造成银根的收紧，从而 影响包括新兴市场国家在内的许多国际的经济活动和 市场需求。因此，如在前几轮全球经济下滑中一样， 2009年中国出口增长将会降低，尽管预计其市场份额 会继续上升。 在这种形势下，政府采取了一种扩张性的宏观经济 政策，更高的政府主导性支出将在2009年经济增长中 发挥关键作用。从2008年夏季开始，中国政府已采取 了支持经济增长的若干措施，11月更是提出了增内需、
经贸英语
Text A • Background Information. • Vocabulary & Useful Expression. • Understanding the Text.
经贸英语
Text A: Background Information
1.Merrill Lynch: 梅里尔林奇公司