基英

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Para8
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A decade later, even after Asia’s 1997-98 financial crisis, private capital flows dwarf governmental flows. (Para.8) Paraphrase: The years later, even after Asia’s financial crisis of 1997-98, private capital flows are still greater in number than governmental capital flows. flow: movement in one direction, esp. continuously and easily eg. The flow of traffic/ goods/ supplies/ ideas/ information
corporate conviction that many markets have become truly global lies behind the merger boom.
• Behind the merger boom lies the growing corporate conviction that many markets have become truly global. (Para. 11)
• relent • 1.If you relent, you allow someone to do something that you had previously refused to allow them to do. • Finally his mother relented and gave permission for her youngest son to marry.
The reason for the merger boom is that more and more business people now believe that many markets have truly become global. They are no longer producing just for the people in their own country. They want to combine or merge with others to become multinational companies.
• boom
• 1.If there is a boom in the economy, there is an increase in economic activity, for example in the amount of things that are being bought and sold. • The 1980s were indeed boom years. • 2.A boom in something is an increase in its amount, frequency, or success. • The boom in the sport's popularity has meant more calls for stricter safety regulations. • • 3.If the economy or a business is booming, the amount of things being bought or sold is increasing. • By 1988 the economy was booming. • • 4.When something such as someone's voice, a cannon, or a big drum booms, it makes a loud, deep sound that lasts for several seconds.
Background Information
•The Asian Financial Crisis
The Asian financial crisis was initiated by two
rounds of currency depreciation that have
been occurring since early summer 1997. The
• 2.If you binge, you do too much of something, such as drinking alcohol, eating, or spending money. (INFORMAL) • I haven't binged since 1986. • I binged on pizzas and milkshakes.
• The only difference between the recent takeover struggle between British and German radio giants and other cases is that this takeover is much bigger and a lot bitter.
Detailed Study of the Text(para713)
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Para.7
Credit：an amount of money placed by a bank at the disposal of a client, against which he may draw信贷 loan: a sum of money which is borrowed, often form a bank, and has to be paid back, esp. together with an additional amount of money that you have to pay as a charge of borrowing --- called “interest” eg. She’s trying to get a $50,000 loan to start her own business. 贷款 The World Bank: an international organization which was formed in 1945 to help rebuild war-torn Europe, but soon afterward began to focus on the underdeveloped world to bring them into the international economy.
para10
• World Investment Report • 世界投资报告
• The recent takeover struggle between British and German wireless giants is exceptional only for its size and bitterness. (Para. 10)
para11
• Behind the merger boom lies the growing corporate conviction that many markets have become truly global. (Para. 11)
• 介词短语前置，正常语序为： The growing
• bank loans, bond financing, equity investment in local stock markets and direct investment • 银行贷款，债券融资，地方股票市场的证 券投资以及跨国公司的直接投资
para9
• cross-border mergers and acquisition • 跨国兼并与收购
first round was a precipitous drop in the value
of the Thai baht, Malaysian ringgit, Philippine peso, and Indonesian rupiah. As these
currencies stabilized, the second round beganBiblioteka Baidu
The European Union
It was founded in November, 1993 in order to enhance political, economic, and social cooperation among members. It was formerly known as the European Community or the European Economic Community. It is headquartered in Brussels, Belgium.
Para12
• product design, component manufacturing and final assembly • 产品设计，零部件生产和最后组装
para13
• • • • be hard pressed to do sth. 做某事有困难 fragmented national markets 支离破碎的国内市场
with downward pressures hitting the Taiwan
The Asian Financial Crisis
dollar, South Korean won, Brazilian real, Singaporean dollar, and Hong Kong dollar. Governments have countered the weakness in their currencies by selling foreign exchange reserves and raising interest rates, which, in turn, have slowed economic growth and have made interest-bearing securities more attractive than equities. The currency crises also have revealed severe problems in the banking and financial sectors of the troubled Asian economies.
Globalization’s Dual Power
Globalization's Dual Power
• Globalization is a doubleedged sword. It is much like fire. Fire itself is neither good nor bad. Used properly, it can cook food, heat our homes. Used carelessly, fire can destroy lives, towns and forests in an instant.
Cross• • • • Cross-border Cross-culture crossroad crossword
• binge • 1.If you go on a binge, you do too much of something, such as drinking alcohol, eating, or spending money. (INFORMAL) • She went on occasional drinking binges.