王关富《商务英语阅读》第二版参考答案.docx
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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
Unit1
WhyChinaWorks
Exercises
1.Answerthequestionsonthetext:
1)HowdoestheauthorviewtheChineseeconomy?
Itisthemostimportantbrightspotintheworldeconomyundertheglobalrecession,theonlymajoreconomythatislikelytoshowsignificantgrowththisyear,andtheonlyonethatroutinelybreakseveryruleintheeconomictextbook.
2)Accordingtotheauthor,whycantheChineseeconomyperformsowell?
Becauseof:
(1)thecapacityforstatecontrolbytheChinesegovernment.
(2)itsrejectionofexoticfinancialinnovationsthatarethemeltingcoreoftheglobalcreditcrisis.
(3)theintegrationofitseconomicpoliciesbetweentraditionalmarkettoolsandstatecontrolmeasures.
3)Inwhatwaydoestheauthorimplythatwesterneconomistsareerroneousintheirbiastoward“China’smarketeconomicsystem”?
TheUnitedStatesandEuropearemovingtowardstatecontrolbynationalizingtheirbankingandcarindustries,andimposingheavynewregulationonthefinancialindustry.
4)WhatistheviewofStephenRoachontheChineseeconomysystem?
InvestmentisthebackboneofsustainablegrowthintheChineseeconomy,whichworksmoreeffectivelythanothermarketbasedsystemsintimesofeconomicstress.
5)WhycanChinaworkintheeyeoftheauthor?
Ithasfollowedaradicalpragmatismfocusingonaslowbutsteadyshifttowardfreermarkets.
6)WhatisregardedasthestrategicthinkingoftheChineseleadersinmarketreforms?
TheyunderstandevenundertheseriousfinancialcrisisthatitcanstabilizetheChinesemarketandeconomytointroducemoresophisticatedformsofsecuritization,includingstockindexfunds,corporatebondsandotherdebtproducts.Theyalsorealizethat,inthecourseofdoingthis,theyshouldlearnfromthemistakesthewesternershavemade.
7)WhatistheexamplegiventoillustratethesteadinessoftheChineseleadersintheirpolicyexecution?
TheycontinuetoallowthevalueofyuantorisedespiteoftheAmericanchargesandtheneedforexportcompetitivenessbytheirownenterprises.
8)Whatis“shocktherapy”?
ItistheeconomicpolicyadoptedinRussiafrom1991to1992thattotallyderegulatedpricesandleadtoarunawayinflation.Itprovedtobeallshockandnotherapy.
9)InwhatwaysdoestheChineseeconomicsystemworkefficiently?
Itcangetthingsdonequickly,moveinacoherentmanner,andmarshalitspeopleandresourcestoacommontarget:
economicgrowthandprosperity.
11)WhataretheInternetandpublicopinionusedfor?
Forputtingpressureonlocalofficialsandinfluencingpolicydecisions.
2.Fillineachblankofthefollowingsentenceswithoneofthephrasesinthelistgivenbelow.Makechangeswhennecessary.
1)Atatimewhentheneedisgrowingformentalhealthservices,manycountriesareunfortunatelycuttingbackonitsspending.
2)Thereisanincreasingnumberofpeopleoutofwork.Butthewesternmediaoftenunfairlylabelthemaslazyandreliable.
3)NowthattheflowofoilhasbeenstoppedbyBP,theimpactofallthespilledoilandnaturalgasisstillbeingmeasured.
4)Onceagainitsabilitytosteereconomicpolicywillbetestedagainsttheabilitytodeliveronservicesandprojectsaimedatgrowingtheeconomyandjobs.
5)Housingpricesareincrediblyhightoday.Butheboughthishouseforasongaboutfiveyearsago.
6)Aspeoplearecomplaininghighprices,especiallythoserelatedtodailynecessities,thegovernmentfeelsratherurgenttoholddowninflationrateimmediately.
7)Undertheneweconomypolicyinvestorsareinvitedtobuyintostate-ownedenterprises.
8)SinceaseriousgunshootingoccurredinArizonalastweek,securityconcernshavetrickleddowntoallplaces,includingresidentialbuildings.
9)Socialunrestisadailyoccurrenceinthecountrynowadays.Itisinthelastplacewhenitcomestoinvestmentformultinationalcompanies.
10)EffortstobansmokinginChinaaresoeffectiveyet.Somechainsmokersneverthinkofquittingwhilemanyothershavebattledinvaintoquit.
3.MatchthetermsincolumnAwiththedefinitionsincolumnB:
A_______________________B__________________________________
1)financialinnovationA)Areductioninthegeneralavailabilityofloans(or
credit)orasuddentighteningoftheconditions
requiredtoobtainaloanfromthebanks.7
2)stimuluspackageB)Anon-bankentityororganizationsuchas
investmentcompaniesandmutualfundsthat
investsinlargequantities.8
3)overheatingC)Alegalentitycreatedbyagovernmenttoundertake
commercialactivitiesonitsbehalf.6
4)stamptaxD)Thetradingofacorporation'sstockorother
securities(e.g.bondsorstockoptions)by
individualswithpotentialaccesstonon-public
information.9
E)Anindustrythatrequireslargeamountsofcapital,machineryandequipmenttopr