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-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。
商务英语阅读教学大纲(王关富)
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。
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）。
王关富商务英语阅读(第二版)参考译文
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》(第二版)参考答案
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。
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
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）。
高级商务英语阅读王关富
and more Chinese enterprises push their goods into overseas markets, companies are now trying
that would place the company’s name on billboards in the Rockets’ stadium. The primary purpose
was not to attract American beer-drinkers, but to grab the attention of avid basketball fans inChina
are often perceived as low-tech and poor quality, Chinese companies need to be more transparent
about their business practices and financials, establish positive points of differentiation, and
leading up to this year’s event, SES reported a 20 per cent jump in the number of Chinese
companies signed up to exhibit, including famous companies such as Huawei and Putian. Although
商务英语阅读(第二版)-王关富Unit2The-World-Economic-Forum-课后答案
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。
人民大2024商务英语阅读(第2册)(第二版)教学课件Unit 8 Brands
Antibiotics were of no use, neither were other pharmaceuticals.
oblivion n. the state of having been forgotten or of no longer being considered important 被淡忘状态 (TEM-8)
模型是根据公式建立的，其中品牌资产的元素被赋予不同的 价值（例如，市场份额和价格），或者根据对客户如何看待 品牌的广泛调查建立。
3. Measurement of brand equity, therefore, involves a holistic attention to all the factors, including the channel through which the product flows and services rendered to the channel.
It seems that the so-called new theory is likely to sink into oblivion.
invariably adv. always不变地 (CET-6) They almost invariably get it wrong.
commodity n. something that is sold for money 商品 [商业] (CET-6; TEM-4)
render vt. You can use render with an adjective that describes a particular state to say that someone or something is changed into that state. 使成为；使变 得 (CET-4; TEM-4)
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。
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 finance exercises1.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 heselationship betweenrevenue 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 in switzerland 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 coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize 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忧它们的破产将会拖垮整个金融体系.如今,这些银行中最大的几家甚至变得更大了.这场危机对限制着美国金融的不少巨头们而言很可能是件好事.由联邦政府安排的一系列兼并行动将陷入困境的银行平安地并入了更为平安稳定的企业中.这场危机还让幸存者们得以乱中重生,市场地位得到稳固,对消费者信贷拥有更大的限制权,并获得更多的盈利空间.如今,这个国家每十美元的储蓄中就有超过一美元是由摩根大通银行(j.p. morgan chase )掌控的,该银行那么由华尔街的一些老字号机构组成.美国银行(bank of america )和西海岸最大的银行——富国银行(wells fargo )的情况也是如此,而前者在收购美林证券(merrill lynch )时遭受重大损失,又因金融危机被政府局部收购.联邦政府数据显示,现在每两笔抵押贷款中就有一笔和每三张信用卡中就有两张是由以下银行发放的：上述三家银行,再加上由政府救助并拥有的花旗银行(citigroup ).在去年九月金融体系几乎完全崩溃一年后,联邦政府的应对举措重新界定了美国人获得抵押贷款、学生贷款和其他信贷的方式,并高调主导了一场关于高管薪酬的全国性讨论.不过,在这场危机带来的所有后果中最让高层监管者们不安的是那些超大型银行却变得更大,而且它们之间的联系更为紧密.监管者们有两方面的担忧：一是消费者对效劳的选择余地最终会越来越小,二是银行会认为如果事情弄砸了它们总会得到政府的支持. 这一假设的保证意味着如果大公司认为联邦官员总会替它们收拾烂摊子的话,它们就会重操旧业,再次从事那些曾引起此次危机的高风险行为.这个名为道德风险〞的问题可以在一定程度上说明政府官员为何要严密监控那些获得了救助的银行 ------监督其高管的薪酬并审查其重要部门或分支机构的出售.除此外,此问题还促使奥巴马政府采取举措建立新的监管体系以防新危机的再现.此项方案还对大型金融机构设置了更高的资本标准,并授权政府可以接管各类陷入困境的金融机构以便逐步而有序地停止其业务.5.fill in each of the following gaps with one of the sentencesgiven below:1)yet investment banks have recently changed out of all recognition.2)if they decided the property was a bargain.3)in short, investment banking has migrated from an agency model towards aprincipal one.4)it is making bigger bets with its own capital, too.5)the main engine of transformation has been competition.6)others have gone for niche markets.supplementary readingthe secrets out: can swiss banking adapt to scrutiny?1.according to the article, what ' s the key to the success ofswiss banks ?a.long history.b.good locations.c.reputation for discretion. Vd.service to reduce tax.2.which one of the following statements about bradley birkenfeld is not true?a.he has worked in geneva.b.he is jailed for his wrongdoing.c.he was forced to give some confidential documents to u.s. officials. Vd.he was a former banker of ubs.3.according to the article, it is mainly that builtswitzerland ' s wealth.a.special local foodb.well-developed tourism industriesc.strict government administration and managementd.the banking industry V4.all of the following statements are features of swiss banks except.a.most of them are private banks.b.they try to gain as many regular clients as possible. Vc.they prefer wealthy people.d.they usually have many foreign clients.5.after a change in swiss law permitted ubs to give u.s.officials details of 4,450american-held accounts,.a.u.s. officials stopped their investigation.b.no actions have been taken against ubs.c.many swiss felt that they were offended. Vd.ubs closed its u.s. unit.6.according to the article, all of the following countries have initiated taxinvestigations based on information from swiss banks or banks located in switzerland except.a.russiab.francec.italyd.germany7.why did birkenfeld went to places like centre court at wimbledon and the film【篇二：商务英语阅读(第二版)王关富uMt14 green business课后答案】>patagonia: blueprint for green business exercises1 . answer the questions on the text1)what is patagonia ' s work environment like? patagonia has freeform work environments which have become common enough that barefoot employees, cavorting pets and organic chefs hardly merit a second glance. but the bicycles, the surfboards, the solar panels, the tibetan prayer flags, the shed full of convalescing owls and hawks all suggest that it is not traditional corporate-land, either. the place is all business, but its business conducted upside down and inside out. simply put, its radical.2)how does chouinard view average american businesses?3)what was chouinard ' s first try in the business world? back in burbank, chouinard installeda coal forge in his parents garage and became a self-taught blacksmith, hammering out pitons - three-inch strips of steel used for anchoring climbing ropes. chouinards pitons were stronger and more elegant than their predecessors, a triumph of minimalist engineering. he sold them out of the back of his car for $1.50 and tried to live on the proceeds.4)what is the “dirtbag " way according to chouinard? how does he view it? chouinard describes as the dirtbag way as living as close to the wild as possible with as little as possible.to chouinard, the “ dirtbag " way never seemed eiprivation. rather, it was freedom.5)how do chouinard and malina define patagonia? it wouldnt release toxins into rivers or cause nervous breakdowns or chase endless growth. it wouldnt make disposable crap that people didntreally need. anything it produced would be of the highest quality, manufactured in the most responsible way. when the surf was up or the powder wafted down, employees would be where they ought to be: outside. if an employees child was sick, the parent would also be where he ought to be: at home. they would keep patagoniaprivately held and say no to anything that compromised their values.6)what big lessons did chouinard learn from scaling the likesof yosemite ' s elcapitan?the biggest was that reaching the summit had nothing to do with where you arrived and everything to do with how you got there. likewise, he thought, with business: the point was not to focus on making money; focus on doing things right, and the profits would come.7)who are patagonia ' s potential customers ?there is no one type of customer here. there are couples pushing double-wide strollers, teenagers and grandparents, and even a woman in high heels.8)what was the result of chouinard ' s effort to use organiccotton?patagonias cotton sales rose 25 percent and, more important, established an organic-cotton industry so that other companies could cross over. demand grew and prices decreased, leading to even more demand. in 2006, wal-mart became the worlds largest purchaser of organic cotton. 9)summarize the measures that patagonia took in search of greener materials. a) use organic cotton instead of non-organic cottonb)use recycled polyester to producec)stop using chlorine in wool productsd)use a product made of crushed crab shells for odor control instead of antimicrobial silver which is a groundwater pollutant.e)advise customers to use the shipping by ground or sea -which is more energy-saving than airfreight.10)why does chouinard plan to shift his business to watersports?climate change. were getting into the surf market, because its never going to snow again, and the waves are going to get bigger and bigger,2 . fill in each blank of the following sentences with one of the phrases in the list given below. make changes when necessary.1)after school alan always computer games.2)some of his good luck must have 3) we are taught from childhood to avoid possible negative consequences from being in his proximity.4)he was by the man ' s rude behavior and began to call names.5)susan has an annoying habit of her neighbors.6)she for a concentrated course in the basics of nursing by the red cross.7)the agreement on the venture follows samsungs recent pledges to new industries to develop future growth engines.8)according to the agenda, the president will be of this hotel this weekend.9)chuas celebration of chinese parenting and her bizarre assertions everything western parents hold dear.10)as a result, durable goods tend to the economy is booming or slumping.11)the basketball players the heavy burden of supporting the whole family, he could not pursue the dream of his own.3 . match the terms in column a with the explanations in column b1) going publica) a sector in which companies in the active outdoor recreation business provide products and services for a variety of outdoor activitiessuch as bicycling, boating and climbing.2) outdoor industry b) a term commonly used to describe the worldof corporations within the united states notunder government ownership. 3) corporate americac) the process of performing an initial public offering (ipo) by a firm, and for the first timethe general public can buy its shares. 4) environmental assessmentd) things that define or constrain aspects of business that are intended to assert business structure or influence the behavior ofbusiness. 5) wilderness adventure e) activities, often regarded as sports or recreations, performed by people in areas of natural landwithout much cultivation or very sparselypopulated. 6) flextimef) programs by governments, enterprises orindividuals to create sensibility ofenvironmental protection and to encourage environment-friendly behaviors like energy efficiency, recycling, and healthy housing. 7) gross revenueg) process of estimating and evaluating significant short-term and long-term effects of a program orproject on the environmental quality ofa location. 8) rules of business h) money generated by all of a companysoperations, before deductions for expenses. 9) green initiatives i) non-traditional work scheduling practice which allows employees to choose their individualworking hours certain limits. 10) patented productl) a product in respect of which a patent has beengranted and its production and sale are legally protected by the patent.4.translate the following passage into chinese.全球变暖可能是世界领袖们面临的最复杂的问题.一方面,由于不断壮大的科技力量指出因人类活动(主要是矿物燃料和林木燃烧) 而产生的温室气体危险持续恶化,因此来自科技界的警告变得越来越强烈.另一方面,在减少有害物质排放的全球共同行动开始之前必须先解决好相关的科技、经济和政治问题,但现在面对全球经济萧条,这些问题已变得复杂化了.2021年末在墨西哥的坎昆举行了全球气候变化谈判,但最棘手的问题并未得到解决,会议只取得了十分有限的成果.不过,虽然坎昆会议所通过的举措可能对地球变暖的短期效应微缺乏道,但对解决这一问题的国际进程来说却赢得了重要的信任票.会议达成的协议离科学家所说的为防止今后数十年气候恶化所需的广泛举措还相差甚远.假设世界各国能够克服情绪化争论的话,它那么为今后采取更强有力的举措奠定了根底,遗憾的是近些年来气候变化的谈判正是毁于这样的争论.被称作坎昆协定的一蓝子协议, 决定再给190多个参会国一年时间来决定是否延长已受损了的京都议定书.该议定书是1997年签订的,它要求绝大多数富裕国家削减有害物体的排放,同时要求资助开展中国家争取今后获得更为清洁的能源.国际争论的核心问题是以下重大议题：富国与穷国间谁应先采取步骤,谁来支付改变能源使用工程单上的大局部费用.2021年1月2日美国环保署强制推出了首批温室气体排放规定.这些规定对公用事业、炼油设施和主要制造商的瞬即效应不会很大, 由于新规定针对的是那些方案兴建的大型新设施或要准备进行大规模改造的现有工厂.不过,在今后10年环保署打算要真正监管所有的温室气体来源,对几乎所有产业和区域都要强制实行效率和排放的要求.5.read the following text and choose the best answer from a to f below to fill in each of the gaps in the text.1)unfortunately it is also one of the most polluting.2)the european union already restricts emissions from cement kilns, and other jurisdictions are likely to follow suit.3)in 2006, for example, holcims emissions per tonne were 16% below the level of 1990.4)the cuts come in three main areas.5)but all three tactics have their limits.6)holcims total emissions, for example, have risen by two- thirds since 1990. supplementary readingwal-mart: measuring just how green1)war-mart will begin its green initiative with suppliers in the following product a. toothpaste and soapk, beer and sodac.dvd players and vacuum cleaners Vd.dvds and vacuum cleaners2)according to the passage, the cdp is an organization that focuses on .a.global warming and carbon emissionb.climate change and global warmingc.carbon emission and climate change Vd.climate change and animal protection3)which of the following statements is not theenvironmentalists ' opinion about war-mart ' s green initiative?a.some people believe wal-mart has been using green initiatives to burnish its image which has been stained by its worker pay and benefits policies.b.some environmentalists are supportive of wal- mart' s greeninitiative and are ready to cooperate. Vc.some environmental activists are cautiously optimistic about wal- mart ’ s green initiative.d.even the most radical environmental activists acknowledge that if war-mart really pushes for change with the latest initiative, it has the size and scale to make a real difference.4)what will be the key test to wal-mart?a.how wal-mart balances the green of the environment withthe green of its balance sheet. Vb.how wal-mart balances the green of the environment with the green of its products.c.how wal-mart balances the green of its products with the green of its balance sheet.d.how wal-mart balances the green of the environment with the green of its marketing strategies.5)which of the following states is true?a.war-mart will cut off those suppliers who do not use energy in a green way.b.war-mart will stop doing business with high-polluting companies.c.war- mart hasn ' t decided how it will use the new measurement system. Vd.war-mart will only do business with those that supplies the lowest-cost goods.【篇三：chapter3王关富商务英语阅读译文.doc】p class=txt>greg 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2021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,因此损失沉重.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,目的是将建造本钱减半：更简易的屋顶,符合标准的窗户大小,更小的选择余地. 12英尺的天花饭、华丽堂皇的楼梯、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效劳,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,但大局部不是,由于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开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% o 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一一银行已提升了他们的贷款发放标准,背后那么是监管者的敦促.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懊悔不已. 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限制的范围内.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% o截至去年,该数字又回落至73% o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清楚显. 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.2021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〕以限制消费. 一般情况下,经济萧条之后是强劲的复苏,由于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,经济总量可能会根据预估的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实了这一点.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水平,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.所以美国假设想防止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已经开始借贷一一数目相当于今年gdp的10% ——来抵抗个人消费和投资的下降趋势.接下来的几年里此项举措会逐渐取消.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方案,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给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水平施加了压力.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藏.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开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遥远郊区购置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根底设施和熟练专业技能的城市中央.有一些是传统的城市核心比方纽约,另一些是近郊的城市,它们可以为市民提供就业时机和价格公正的房屋,上下班所需时间也不长.劳动生产率的提升会增加收入和利润,这会使消费者在归还一局部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升,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,由于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2021年第四季度,该项消费的年增长率到达了19% o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方家具、纺织和电子产品被迅速占据.但全球经济增长方式的转变和美元地位的变化都为出口大幅增长奠定了根底. 以前有一种观点,即美国是世界消费者而新兴市场是制造商,〞摩根大通首席经济学家bruce kasman如是说但这种情形已经改变了. 〞他认为美国今年仅会在全球消费中占到27%的比重,而新兴市场会占34%,这与八年前的情形刚好相反.美元贬值使得一些平价消费品产业重获开展,但是出口扩大最主要的获益者是那些已经很强大的出口商.这些公司反映出美国在高端效劳产业、高技术制造业〔医疗设备、药品生产和软件工程〕和创意产业〔电影、建筑和广告〕方面的优势.正是由于廉价的数码科技,韩国、印度现在才能在低本钱电影方面与美国一争高低.但也只有在好莱坞,创意、专业和市场等各方面的才华才能制作出像阿凡达这样赢得高达26亿美元利润的电影,其中70%来自国外.那可是好几架喷气式客机.出口是危机过后经济复苏走的老路.二十世纪九十年代早期的瑞典和芬兰,晚期的马来西亚、泰国、和韩国都是通过出口来扭转逆差局面、摆脱经济萧条的.但是考虑到经济规模和受到危机影响的发达国家数量之多,美国走这条路还面临着许多困难.最近几年美国对新兴市场的出口超过了对兴旺国家的出口,但是如果其他国家, 尤其是中国不能有效的刺激内需,根据基金组织报告中的话,那么稍有扭转的全球经济不平衡可能会在2021年迅速蔓延工美国的经常账户赤字在2006年由占gdp6%减少到去年的3%,这是衡量贸易和国际收支最宽泛的标准.能否继续减少至零？1991年在连续五年的出口增长之后,美国几乎到达了这个目标.这一次, 赤字更大,世界其他各国经济更加不景气.经济年增速如果能够稳定在3%的水平也属不易,由于这会使美国的负债率逐渐下降.美国经济的不平衡由来已久,不是短期内可以解决的问题.但是那些可以使经济重新走上平衡的因素就在不远方一一开车向北四十分钟就可以抵达希尔顿先生设在亚利桑那州scottsdale 的办公室.希。
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。
商务英语第二版 王关富 课文翻译-Chapter8
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.2。
商务英语阅读(第二版)-王关富Unit2The-World-Economic-Forum-课后答案
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。
商务英语阅读(第二版)王关富unit9econ-beyondbrettonwoods课后答案
Unit 9Beyond Bretton Woods 2Exercises1.Answer the questions on the text:1)According to the article, what is the essence of “quantitative easing” restartedby the FedPrinting money to buy government bonds.2)Why is no one satisfied with today’s international monetary systemBecause:Reason 1: D ominance of the dollar as a reserve currency and America’s management of it fail to reflect the realities of the world economy and leave others vulnerable to America’s domestic monetary policy.Reason 2: The system has fostered the creation of vast foreign-exchange reserves, particularly by emerging economies, thus poor countries lend to rich ones and lose investment opportunities.Reason 3: Scale and volatility of capital flow render unsteadiness for emerging economies.3)What is “trilemma” according to the textThe independence of domestic monetary policies, stability of exchange rate and perfect capital mobility can’t be realized at the same time. One must give up one factor to uphold the other two.4)What is the reason for a freer capital flow in these daysGlobalization as much as to the removal of restrictions.5)Why are countries unwilling to have their currency exchange rate to rise greatlyand how do they control itBecause abrupt rise in exchange rate would cripple export and countries want an undervalued currency to encourage export-led growth, so they buy foreign exchange to stem the rise.6)How is “Bretton Woods 2”created, according to the authorEmerging economies are coping the behavior of China, keeping their exchange rate at a low level so as to maintain their international competitiveness, thus they have to be tied to US dollars. This phenomenon then results in Bretton Woods 2.7)What is “Triffin dilemma”The conflict between the benefits and costs of a country with a reserve currency running a large current account deficit. The reserve-currency country enjoys the consumption benefit of running a trade deficit, while the rest of the world benefits from the additional liquidity, which helps facilitate trade. The cost comes from the declining value and credibility of any currency which runs a persistent trade deficit - eventually leading to a reluctance of creditors to holdthe reserve currency.8)Why can’t SDRs become a central reserve assetBecause as Mr Eichengreen w rites: “No global government… means no global central bank, which means no global currency.9)According to the text, what is the measure that the G20 could possibly take torebalance world economyIt can develop a plan with target ranges for current-account balances and real exchange rates and make it supported by peer pressure rather than explicit sanctions.10)What can be inferred from the title “Beyond Bretton Woods 2” in relation tothe world economyThere are probably two results of the world economy:One is that i f America’s economy recovers and its medium-term fiscal outlook improves, the pace at which capital shifts to the emerging world will slow. And if China makes its currency more flexible and its capital account more open in good time, the international monetary system will be better able to cope with continued financial globalisation and a wide growth gap between rich and emerging markets.The other is that if the world’s biggest economy stagnates and the second-biggest does not change its monetary policy, a rigid monetary system will eventually buckle.)2. Fill in each blank of the following sentences with one of the phrases in the list given below:1)The latest statistics indicate that this region’s economic recovery is tied to highereducation.2)According to financial news, this nation’s currency will appreciate against euro inreal terms.3)The couple described their narrow escape from the earthquake in New Zealandas they were inside the church when it began to fall apart.4)If you never take initiative to make it happen, this scheme is only something onpaper.5)At times of critical moment, one must subordinate passions to reasoning toavoid any possible blunders.6)Over two million migrant workers flooded into Beijing last year from all parts ofChina to seek potential opportunities for personal development.7)Thousands of city school teachers stand to lose their jobs under a tough budgetthat is set to unveil this coming Thursday.8)The car dealer guarantees that if customer is unhappy with the model hepurchases, whether on a bill of sale or hire purchase, he can totally swap it for a new one.9)Authorities in Zimbabwe have issued a new mega bank note in an attempt tocope with the troubled African country's runaway inflation.10)Economists use the term liquidity to describe the ease with which an asset canbe converted into the economy's medium of exchange.3. Match the terms in column A with the explanations in column B:A B1) reserve currency a) Ability of money to move across nationalboundaries freely in pursuit of higherreturns. 42) treasury bond b) A government monetary policyoccasionally used to increase the moneysupply by buying governmentsecurities or other securities from themarket. 73) currency war c) The actions of a central bank, currencyboard or other regulatory committee thatdetermine the size and rate of growth of themoney supply. 54) capital mobility d) A mechanism used by central banks to providefinancial institutions withaccess to funds tosatisfy reserve requirements and to increaseliquidity over longer periods. 85) monetary policy e) A currency held by many governments and aspart of their foreign exchange reserves andalso used as the international pricingcurrency for products traded on a globalmarket. 16) Special Drawing Right (SDR) f) A condition in international affairs wherecountries compete against each other toachieve a relatively low exchange rate for theirhome currency. 37) quantitative easing g) A marketable, fixed-interest U.S. governmentdebt security with a maturity ofmore than10years. 28) lending facility h) A period of time in which loans are lent by thegovernment and banks in an unrestrained way .99) credit binge i) A situation where a country's total import ofgoods, services and transfers are greater thanits total export of goods, services andtransfers..1010) current account deficit j) An international type of monetary reservecurrency created by the InternationalMonetary Fund and used as a supplement tothe existing reserves of member countries.. 64.Translate the following into Chinese:如果国际组织间举行一场全球性的声望比赛，国际货币基金组织毫无疑问会是最后一名。
商务英语阅读(第二版)-王关富-Unit-6-Goodbye--Free-Trade-课后答案
Unit 6Goodbye, Free Trade?Exercises1.Answer the questions on the text.1) What was the result when the House of Representatives passed theHawley-Smoot Tariff Act in 1930?The economic recession in the United States became even worse.2) According to the author, what happens when a currency appreciates?It diminishes the export advantage of the country and makes it difficult to increase exports or even maintain the status quo.3) How did American politicians take advantage of the public’s stronganti-free-trade sentiment in the United States?They created a talking point in charges of unfair trade so that they thought they could benefit in the mid-term elections.4) What did American politicians and economists agree and disagree over theHawley-Smoot Tariff Act?Almost all of them agreed that it was a bad law, but they disagreed whether it triggered the Great Depression in the 1930s.5) What did Milton Friedman think were the more important reasons for theGreat Depression?The malfunctioning gold standard system and inept monetary policy of the Federal Reserve.6) What was the foreign reaction unexpected by the American lawmakers afterthe Hawley-Smoot Tariff Act was enacted?The trading partners were angered and imposed discriminatory tariffs on American goods. Canada in particular, as the largest export market for the US, reacted fiercely and handed its market over to the British competitors.7) Why is it unlikely for the US to adopt another Smoot-Hawley today in the eyeof the author?(1)The US is much more integrated into the world economy today than it was inthe 1930s.(2)Import restrictions seldom achieve their intended goals, instead, often end uphurting American industries and consumers.(3)The Americans have learned to consider the possible strong foreignretaliation against US exporters.8) What were the respective results for those countries withdrawing from thegold standard and those clinging to it during the 1930s according to the author?Those countries going off the gold standard allowed their currencies to depreciate, avoided protectionist trade policies and, instead, used monetary policy to end price deflation and stimulate economic growth.Those countries choosing to stay on pursued protectionist trade policies by imposing high tariffs, import quotas and exchange controls, which did little in boosting their economic growth. Thus they suffered a longer economic depression.9) How does the author justify his support for the policy of "quantitativeeasing"?(1) Historically, the most important tool for resisting protectionist sentiment in the1930s was a monetary policy that would promote economic growth.Today the US is in a similar situation. Taking right monetary policy can alleviate the pressure on Washington to adopt protectionist trade policy and can help to raise output before it leads to a high inflation.(2) He also quotes what Charles Evens said: Additional measures taken by the Fedto stimulate growth should condoned, not condemned.(3) What Mr. Friedman wrote 1997 about Japan: The surest road to a healthyeconomic recovery is to increase the rate of monetary growth, to shift from tight money to easier money.10) What does the author imply about the US Congress?In comparison with the Fed, the US Congress is following a trade protectionist policy in blaming other countries for its unemployment and may cause serious trade retaliations from trading partners.2. Fill in each blank of the following sentences with one of the phrases in the list given below. Make changes when necessary.1)As the financial scandal involves so many people, the probe in to it could dragon for another year.2)In the age of globalization more individuals are forced to integrate intomultinational work teams.3)Many in Europe are now very much worried that it may sink into a Japan-styleeconomic recession.4)But the business leaders yesterday warned against interest rate rises, arguing thatinflation was being driven not by consumer spending, but by rising commodity prices.5)After the call scandal, the American automakers and some politicians there wereso eager to keep their rival Toyota at bay in the auto market.6)Under the current labor law, two categories of employees are exempt fromminimum wage and overtime requirements.7)Though the local partner made a revised offer, the foreigner investor refused andreverted back to the original agreement conditions.8)Last Friday the two parties met for more than five hours only to end up walkingaway from the table once again, reaching no agreement at all.9)When the government supervises banks, it should take into account their payand bonus structures which may often be the source of corruption.10)The customers severely affected in the incident demanded that the company putin place effective measures to avoid occurrence of such things in the future. 11)It’s critical to take hold of any opportunity coming your way because it willnever come back again once lost.12)At times of economic depression, people are more inclined to unethical means intheir business.3. Match the terms in column A with the definitions in column B:A__________________________ B____________________________________ 1)unfair trade A) Restrictions that governments put in placeon the purchase or sale of a foreign or localcurrency, particularly by those in shortageof hard currencies. 62) real estate B) Escalation of protectionism between two ormore countries that impose punitive tariffsand barriers in retaliation for each other. 83) business cycle C) A general decline in prices often caused bya reduction in the money supply or a decreasein spending. 54) trade protectionism D) Unjustifiable and discriminatory policiesand supports by a government to its ownfirms, ranging from export subsidies to anti-competitive practices. 15) price deflation E) Land, buildings, homes or anything fixed,immovable, or permanently attached that canbe traded in the market. 26) exchange control F) The policy of imposing duties or quotas onimports in order to protect home jobs,markets or industries from overseascompetition. 97) competitive currency devaluation G) A company or country with whom you havean ongoing business relationship and engagein importing or exporting activities. 108) trade war H) A predictable long-term pattern ofeconomic activity that an economyexperiences four stages including decline,recession, recovery and boom. 39) import barriers I) The currency devaluation by a governmentto make its goods more competitive in theinternational markets. 710) trading partner L) The economic policy of restrainingbusiness between states through a variety ofgovernment actions to discourage importsand prevent foreign take-over of domesticmarkets and companies. 44. Translate the following passage into Chinese.按官方的说法，中美间过去三天日益严重的贸易纠纷涉及轮胎、鸡肉和汽车，但实际上远远超出此范围。
《新编商务英语阅读教程》[第二版]练习参考答案解析
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《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。
商务英语阅读教学大纲
《商务英语阅读》教学大纲一、课程定位1、课程的性质与作用《商务英语阅读》课程是本专业的专业课程，本课程通过较大量的阅读，使学生巩固已学的基本词汇和语法知识，扩大词汇量，加强语感，提高英语阅读能力。
同时，培养学生掌握阅读和理解商务英语文章的基本技能，掌握一些国际经济文章中常用词汇，懂得一般的商务表达，熟悉主要的商务英语文章类型。
2、本课程与其它课程的关系本课程需要学生具有一定的商务英语词汇量帮助提高阅读商务文章的能力。
所以本课程的前导课程为《国际商务导论》，《高级商务英语》，《综合商务英语》，后续课程为《国才英语》，《商务英语写作》，《商务英语翻译》，《国际贸易理论与实务》。
二、课程教学目标培养学生的英语阅读理解能力和提高学生的阅读速度；培养学生细致观察语言的能力以及假设判断、分析、归纳推理检验等逻辑思维能力；并通过阅读训练帮助学生扩大阅读量，吸收语言和文化背景知识。
帮助学生顺利通过国才英语考试，使学生在社会工作中及日常生活中能流利阅读公司材料及网络新闻。
三、教学基本要求教师引导学生介绍阅读商务篇章技巧为主，并加大学生的阅读实践量，给学生提供的阅读技巧建议，指导学生从文章背景、作者介绍、写作技巧、结构层次、重点词句理解、修辞等多方面入手，让学生通过查、引、评、用（查资料、引用评论、小组评议、借鉴应用）完成对选文的分析学习。
师生共同研讨，深入其中挖掘学习。
扩大词汇量也是教学的重点。
利用构词法进行词汇教学，可以帮助学生对一些熟知的词有更深刻的了解，多利用英英词典，报纸，杂志等工具，引起学生兴趣，充分调动他们的积极性。
使用直观教具和电化设备进行词汇教学。
四、教学内容及学时分配第一章 Unit 1 The World Wide Web（6学时）1、教学内容第一节文章背景，包括一些比较知名的国内外网站，如buzzlogic，delicious,还有一些术语的引入，如blog, Nasdaq, Domain name, Google Adwords等；第二节讨论网络对于生活的影响，了解关于不同软件、网站、以及网络服务版本第三节文章内容分析及讲解。
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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。