Unit 4

Unit 4

Finance and Economy

最新英美报刊选读 _Unit 4 Finance and Economy

Editorial: The Economic Summit

最新英美报刊选读 _ Unit 4 Finance and Economy

Warming-up Questions

Background Information

Detailed Reading

Post-Reading

Passage 1

Language Features

Organization Analysis



Group of 20 (G-20)

二十国集团，或 G-20 ，是一个着重解决全球经济问题国际机构。 20 国集

团成员—— 19 个主权国家，包括世界上最大的工业体以及新兴经济体，加上欧

洲联盟——代表着大约世界上三分之二的人口， 90 ％的全球国民生产总值， 8

0 ％的国际贸易值和 95 ％的黄金储备。较之“八国集团”（ G-8 ）， 20 国集

团囊括了更多的世界工业化经济体。



Group of 20 (G-20) 追溯其历史， 20 国集团成立之初主要是为了应对上世纪 90 年代末的亚洲金融危机。

20 世纪 90 年代，鉴于亚洲金融危机的严重程度，以美国、英国为首的老牌的世界经济

强国“日益认识到，关键的包括中国在内的新兴市场国家没有充分纳入全球经济核心的

讨论和治理中”。因此，先后有 22 个国家（“ 22 国集团”或“ G-22” ）和 33 个国家（“ 33 国

集团”），以特设的形式参加了各次 G8 峰会。在此基础上， 1999 年 20 国集团（ G-20 ）

作为一个较长期的，相对稳定的国际经济组织宣告成立了。


Background Information Group of 20

(G-20) 通常情况下，出席年度会议的是各成员国财政部长和中央银行行长，再加

上世界银行和国际货币基金组织的高层领导。另一个特殊成员 ---- 欧洲联盟即

欧盟，由欧盟轮值议会主席和欧洲中央银行派代表参加会议。 2008 年 11 月，

为应对全球信贷危机，各国政府首脑也参加了在华盛顿举行的 G-20“ 紧急会

议” 。

2008 年的华盛顿会议被许多观察家看作是布雷顿森林体系 II 的序幕，其召

开标志着一个新的国际金融框架即将开始。 2009 年 4 月 G-20 伦敦会议达成的

成果进一步向世人展示出 20 国集团在当今并将在今后更长的一段时间内对世界

经济的复苏和发展发挥其积极的作用。


Background Information Group of 20

(G-20)


八国集团 Group 8 (G8)

　　所谓八国集团，指的是八大工业国美国、英国、法国、德国、意大利、加拿大、日本，加上俄罗斯。严格地讲，它并非一个严密的国际组织，俗称为“富国俱乐部”。在 8 个国家里，除俄罗斯之外的 7 个国家是核心成员国，也就是以前的七国集团 (G7) 。

20 世纪 70 年代初，在第一次石油危机重创西方国家经济后，在法国倡议下， 1975 年 11 月，美、日、英、法、德、意六大工业国成立了六国集团，此后，加拿大在次年加入，七国集团 (简称 G7)就此诞生。 1997 年俄罗斯的加入使得 G7转变为 G8 。


Background Information 美国雷曼兄弟公司

（ Lehman Brothers Holdings ）

雷曼兄弟公司，美国第四大投资银行，是为全球公司、机构、政府和投资者的金融需求提供服务的一家全方位、多元化投资银行。雷曼兄弟公司成立于 1850 年，总部设于美国纽约市，地区性总部则位于伦敦及东京，在世界各地设有办事处。雷曼兄弟被美国《财富》杂志选为 500 强公司之一。

　　雷曼兄弟公司雄厚的财务实力支持其在所从事的业务领域的领导地位，并且是全球最具实力的股票和债券承销和交易商之一。同时，公司还担任全球多家跨国公司和政府的重要财务顾问，并拥有多名业界公认的国际最佳分析师。

　　但是 2008 年中受到次级贷款风暴的影响，雷曼兄弟公司股价无量下跌，陆续裁员达六千人以上。 2008 年 9 月 15 日，雷曼兄弟公司宣布申请破产申请破产保护，负债达 6130亿美元，很可能结束 158 年的营运。

Source from: http://wiki.mbalib.com/wiki/Lehman_Brothers


Background Information New Century Financial

Corporation 新世纪金融公司（ New Century Financial Corporation ）是美国一间知名的贷款公司，位于加利福利亚洲，成立于 1995 年，主业为次级抵押贷款，曾是全美国第二大次级贷款公司，已于 2007 年 4 月 2 日申请破产保护。

新世纪金融公司于 2007 年 3 月透露其经营的次级债坏账问题严重，而后其十几亿美元的市值迅速蒸发，几周内被迫申请破产。新世纪金融公司的轰然倒闭，揭开了 2007 年美国次级房屋信贷风暴的序幕。Source from: http://zh.wikipedia.org/wiki


Background Information General Motors

Corporation 通用汽车公司 (GM) 成立于 1908 年，是全球最大的汽车公司，全球总部坐落在底特律的通

用汽车文艺复兴中心，是成为全球汽车业的领导者。通用汽车公司迄今在全球 33 个国家建立

了汽车制造业务，其旗下的汽车品牌包括： BUICK, CADILLAC, CHEVROLET, GMC, GM D

AEWOO, HOLDEN, HUMMER, OPEL, PONTIAC, SAAB, SATURN 和 VOLVO 。

面对此次强大的金融危机，美国东部时间 2009 年 6 月 1 日早上，通用汽车公司正式向美国

政府申请破产保护。据悉，美国政府将向重组后的通用提供总计达到 300亿美元的援助。

Source From: http://www.motorlink.cn/corp/corp/openCycMain/100.html

http://wiki.mbalib.com/wiki


Background Information Some figures we

need to know

Angela Merkel George W. Bush Barack Obama Gordon Brown


What an economic crisis means to ordinary What an economic crisis means to ordinary people?people?

• Higher prices of living expenses including those of food, clothing, housing and transportation (Higher inflation rate)

• Fiercer competition with lower salaries

• Higher unemployment rate

• Harder job-hunting even for college graduates

• Bear Market at stock exchange markets

• Deepened unequal distribution of wealth– The rich get richer and the poor poorer.

• Higher potential of social instability and upheaval

Warming-up Questions



最新英美报刊选读 _Unit 3 Education and Health

Para.1 IntroductionThe five Ws

Para.3-8 “Where they fell short”峰会的失败之处

The economic summit

has fell short.


Para.2 Major achievements 峰会的主要成果

Para. 9 Editor’s visions作者的建议

Para. 10 ConclusionA lot more need to be done.


Part I Introduction (Para.1)

What: a “summit meeting”

When: on “Thursday”

Who: leaders of “the world’s top 20 economic powers”

Why: “the global economy imploding”

For what: “to fix the global financial system and restore growth”

Editors’ comments: “They fell short”



Part II (Para.2) Major achievements of this summit meeting

The leaders pledged toa. fight protectionismb. help developing countries—1 trillion for loans and trade

guaranteec. crack down on tax heavensd. impose stricter financial regulations on hedge funds and rating

agencies

Editors’ comments: “more than usual” “ necessary though insufficient”



Part II (Para.2) Major achievements of the summit

meeting


Part III (Para.3-Para.8)The places “where they fell dangerously short”

1. (Para. 3-6) Disagreement about stimulus spending/ additional fiscal stimulus --The Europeans leaders: refusing deficit spending not giving in --The U.S. President: warning not to count on American

consumers alone

-- Editors’ comments: being relieved, but not the time or the issue on which to

hold back taking on the fight (against the

Europeans)



2. (Para. 7) Disagreement about the idea of financial regulations and that of a global regulator:

-- The European leaders: comprehensive cross-border

regulation -- The U.S. President: domestic regulation

3. (Para. 8) Some compromises “more transparency and better early-warning

systems for systemic risks” -- Editors’ comments: showing suspect



G-20 London Summit in Newspaper Headlines








What’s happening outside the conference room?






Part IV (Para.9) Editors’ visions

To make progress, the world’s wealthy nations must

a. come to a common understanding of the causes of the current crisis

b. come to a common vision of the future role of financial marketsc. write new rules and regulatory regimesd. work out regulations that are both transnational and binding

Part V (Para. 10) Conclusion

Editors’ comments: “it will take more than was done in London”



The happy family of G-20 London Summit


Wordle of G-20 London Summit


Language Features美国报纸社论及其语言特点

美国报纸的评论体系大体上包括社论（ Editorials) 、社论版对页 (Opposite Editorial ，缩写为 Op-Ed) 、专栏文章 (Columnists) 和读者来信（ Readers’ Opinions)四种主要形式。

其中，社论，又称社评，是报纸或杂志的声明、言论或文章，用以表达其编辑、编审委员会或出版者针对近期发生的某一政治、经济、文化以及民生事件的意见或看法。它不仅提供实时信息，更重要的是必须发出报纸自己的声音以体现自身的立场，解释问题、引导舆论，使读者在其引导下能够做出判断。由于社论中的观点往往代表着该报刊的风格和立场，又被看作是报纸的灵魂。


通过分析本篇社论 “ The Economic Summit” ，我们基本可以看出美国报纸社论在语言方面的一些显著特点。

1. 从写作角度上讲，社论写作注重以大众读者的角度为立足点，设身处地地提出问题或质疑，以便引起共鸣。如，大量的第一人称的使用。 “In normal times we don’t expect ...” ； “…we were relieved to see…” ； “we fear…” ； “we suspect…” 等。

2. 从词汇运用角度上讲，社论的遣词造句独具匠心，处处显示其明确的立场。 1 ）心理或情感类动词的使用。如： “expect”, “be relieved to see”, “fear”, “suspect”, “watch” 等。

2 ）判断类或修饰类副词的使用。如： “certainly”, “dangerously”, “historically”, “rightly”, “fiercely” ，“ apparently” 等。

3 ）一系列表示“应该”的命令式情态动词的使用。如： “cannot”, “should” “have to”, “must”, “need” 等。

Language Features


3. 从句子结构和句式类型上，本篇社论通篇运用了大量的简单句，即使有复合句，也是相对简单的状语从句或宾语从句。如： “In normal times we don’t expect a lot from summit meetings.” “But he apparently decided that a battle would be too destructive.” “They fell short.” “When both sides grumble about the result, rather than praise it, you will know that progress is being made.” “As host, he had to.” 等。

4. 从句子类型上，社论文章大量地使用陈述句，特别是 Be引导的判断句式。如： “They fell short” ； “Where they fell dangerously short was their refusal to …” ； “…rich countries are the only ones that have the resources to do what is needed.” “Inflation is not the danger Europe faces today.”

Language Features


Detailed ReadingPassage ReadingUnderstanding

SentencesWord Study


1. The meeting certainly produced more than the usual photo ops and spin– and its participants did not go away yelling at one another as they have in the past. (Para. 2)

Translation 当然，此次峰会的成效远远不止于产生了一些具有纪念意义的照片和（各大媒体）粉饰太平似的大肆鼓吹—至少同以往的会议相比，与会者们没有大呼小叫，互相指责，甚至中途离场。

Comments

Examples 1.He dashed out of my room shutting the door behind him.

2. My mother used to stay in this armchair reading her favorite

novel at the teatime.

Understanding Sentences

“Yelling” here is used as a non-infinite verb acting as the adverbial to the predicate of the sentence, i. e., “go”. The use of the present participle signifies that the two actions—”go” and “yell” are carried out simultaneously.


本文当中类似的用法还有：

(Para. 4) “European leaders…made clear going into the meeting that…”

(Para. 7) “The Europeans came to the meeting stressing the need for …”



2. Where they fell dangerously short was their refusal… (Para. 3)

Comments “Where” introduces a subject clause. Likewise, such con

nectives as what, who, whoever, wherever, how and wh

ether can introduce subject clauses.

Examples

1. How he made his fortune is still unknown to all.

2. Whether we should accept his proposal is utterly up to the

chairman.

3. To her dismay, whatever she says is of no significance to

him any more.



Examples

1. What I need is not your money but your understanding.

2. What should be done immediately is that we review the procedure carefully.


Comments

3. “…rich countries are the only ones that have the resources to do what is needed.” (Para. 3)

此句中值得注意的语法现象是 what 引导的定语从句 , 也可以理解为相当于 all that 引导的定语从句。


4. …the President will have to take on this fight soon. (Para. 6)

Question In this sentence, what does “this fight” refer to ?

Clues -- “European leaders…made clear going into the meeting that they were not going to give in on that issue.”-- “President Obama has rightly warned the Europeans that they cannot count on American consumer alone to drive a global recovery.”-- “But he apparently decided that a battle would be too destructive.”

Comments “This fight” refers to the disagreement about the percentage of the fiscal stimulus or stimulus spending each part, namely, the USA

and the EU should be responsible for respectively.



5. To pull out of the current crisis, it will take a lot more than was done in London. (Para. 10)

Comments 此句中 than 作为关系代词引导的是定语从句。

Examples

1. The prince had spent much more money than was intended to be spent, which annoyed the king much.

2. The love you give your son is far more than is enough. You will spoil him.



Word Study

1. expect v. (Para. 1) 1) to think that something will happen 预料，预计 Many investors expect that the economy will recover soon. We are expecting his reply to arrive before dawn. As expected, the concert was a great success. 2) (often progressive) to be waiting for someone or something to arrive 期盼，等待 My mother is expecting visitors to our house this evening. She is expecting. ( 比喻用法：怀孕 )3) to think that it is right or reasonable that something should happen 认为

理应发生，要求 As the eldest son in his family, he is expected to set a positive example to

his siblings. Customers expect quality service.


n. expectation 预料，期望，指望，意料 Contrary to my expectations, he rejected my offer.

Many college students admitted that it was hard to live up to parents’

expectations.

The success of the performance exceeded all our expectations.

His performance is far beyond our expectations.

Word Study


vi. to shout, scream, cheer or utter in a loud or piercing way ( 因生气、害怕、激动或疼痛等 ) 叫喊，叫嚷，大声抗议或埋怨，大声呐喊欢呼 yell with pain

We yelled for our team.

She likes yelling at her puppy when she is in bad mood.

n.

1) a loud piercing cry, as of pain, anger or fear 叫声，喊声 Laura let out a yell.

2) (AmE) a loud noise that a group of people make as a way of showing

support of someone or a sports team （指为运动队助威的）加油声 There was a strong yell of triumph for the Los Angeles Lakers.

Word Study

2. yell (Para. 2)


v.

1) to hit something very hard repeatedly; beat heavily 连续猛打，重击 Huge waves battered the little ship the whole night.

The raindrops battered against the windows.

2) (usu. passive) to make someone or something suffer or become weak; to

subject (a person, an opinion, or theory) to harsh criticism; attack 使受重

创，打击 The team’s confidence was heavily battered by the defeat.

When first put forward, Copernicus’ theory was severely battered by the

Catholic churches.

3) to subject (a person, esp. a close relative living in the same house) to repe

ated physical violence 毒打，虐待 He is accused of battering his wife and children.

Word Study

3. batter (Para. 2)


adj.

1) abused 受虐待的，憔悴的 The battered wife finally committed suicide.

2) old and damaged 破旧的，撞坏了的 In his late years, he was often seen hanging around in his battered old car.

3) having experienced a lot of difficulty 受到重创的，经历困难的 The project is aimed to help restore the economy of the battered towns in

the earthquakes.

Word Study

battered (Para. 2)


4. commit v. (Para. 2)

1) to make someone agree or promise to do something 使同意，使承诺 The agreement committed them to full responsibility for this project.

The professor is heavily committed to (doing) his research work.

2) to say that you will use available things or people for a particular purpose 调拨，投入

The rich countries have agreed to commit 1 trillion dollars to help the developing countries.

Word Study


3) to do something illegal or morally wrong 犯罪，犯错误

It is reported that the famous singer committed suicide last night.

The study aims to find out what induces people to commit crimes.

It is normal for a teenager to commit such mistakes.

4) to decide to have a permanent relationship with someone 决定确立永久关系 She refused his proposal, saying that she is not ready to commit.

Men are believed to be harder to commit himself to one relationship than

women.

Word Study


Word Study

n. commitment 承诺；拥护；义务，责任；决心

It is too late for him to realize that to fulfill his commitments seems impossible.

This country failed to demonstrate its commitments to the Kyoto Protocol.

Heavy work commitments have driven him exhausted.

Apparently, her laziness and lack of commitment have led to her failure.


Word Study

5. stimulus n. (Para. 3)

things that encourage something to happen, develop, or improve 促进因素 , 刺激物

Light is a stimulus to plants’ growth.

The substance seems rather sensitive to this type of stimuli.

Her words of praise were a stimulus for me to work harder.


Word Study

6. issue n. (Para. 4)

1) a subject that people discuss or argue about 议题，争论点，（尤指）社会或政治等问题

Mercy killing has always been a controversial issue worldwide.

Public education is inevitably one of the biggest issues the new governmen

t has to deal with.

The subject of cloning raises complex ethical issues.

2) a magazine that is published at a particular time （期刊的）期，号 The spring issue of this fashion magazine has been a great success.

3) official giving 发放，颁发 She is still waiting for the issue of her study permit by the Canadian Embas

sy.


Word Study

issue v.

1) to announce something or give it to people officially 颁布，发放，公布 The authority has issued warnings that the price for the oil would rise soon. He was issued a medal for his bravery at the battle.

2) to officially make something available for people to buy or use 发行

It is the responsibility of the central bank of the country to issue the currency.

The magazine is issued on a monthly basis.


7. count v. (Para. 5)1) to calculate how many 数数量，清点 All the votes must be counted.

Since the day her son left home, she had been counting the days.

Never count your chickens before they are hatched.

2) to say numbers one after another 数数 My two-year-old son is able to count up to twenty.

We are counting down the days until the end of the exams.

3) to think of someone or something as a particular thing 把…看作、算作 Nancy was counted as one of the best performers in the play.

Do count me in if you have a party this weekend.

4) to be important or have influence 有重要性，有影响 What really counts is whether you have the ability to cope with the ever-ch

anging situations.

Word Study


count on/ upon

1) to depend on someone to do what you want or expect them to do for you 依靠，依赖，指望

My parents count on me much and I should not let them down.

I can always count on him for good advice.

It seems that he is counting on me solving the problem.

2) to plan or expect something will happen 预料，料想 She didn’t count on it raining.

Word Study


8. alienate v. (Para. 6) to cause (a friend etc.) to become indifferent ， unfriendly, or hostile; estrange 离间，使疏远，使敌对

We had better not alienate ourselves from our colleagues.

His attempt to alienate the two friends failed.

adj. alien

1) from a different country, race or culture 外国的，外族的，外国文化的 He is deported (驱逐出境 ) as an undesirable alien person.

2) unfamiliar, strange or opposed to 完全陌生的，与…格格不入的，不相容的 Their idea of war is completely alien to our foreign policy.

This behavior is obviously alien to the school discipline.

Word Study


9. relieve v. (Para. 6)

1) to make pain or bad physical feeling less unpleasant 减轻（痛苦或身体不适）

Use a cooling gel to relieve the discomfort of sunburn.

Your headache can be relieved by a pill of aspirin.

2) to make a problem or bad situation less serious 缓解 The authority has been involved in designing the best possible schemes to

relieve the traffic congestion in the city.

relieve someone of something 将某人（从责任或义务中）解脱出来 He has been relieved of the sole responsibility to take care of his grandpa

since his brother came back.

Word Study


relieved adj. happy and relaxed because something bad has not happened, or because

bad situation has ended 宽慰的，欣慰的

Word Study

We were relieved to see that he, once a naughty boy, has grown into a decent and responsible man. She felt relieved that he finally chose to stay with her.


10. decline v. (Para. 6) 1) to become less or worse 减少，变衰，衰退 The number of people choosing to work in the countryside has been declinin

g in the past three decades.

Stock prices declined sharply/ dramatically last year.

2) to say politely that you will not accept something or do something 谢绝，礼貌地拒绝

We offered to drive him home, but he declined.

We invited her to the party but to our surprise, she declined the invitation.

The foreign minister declined to comment on the current bilateral relations between the two countries.

Word Study


decline n.

a reduction in the amount or quality of something 数量的减少，质量的下降

Over the recent years, there has been a steady decline in the number of people

smoking in the public places.

Agriculture has been in a decline in many Third World countries.

Old people are now complaining that with the development of economy, there is a

moral decline in this country.

Word Study


11. stress v. (Para. 7)

Notes: Words frequently used with “stress”:

importance, necessity, need, significance, urgency, value etc.

to emphasize something 着重于，强调

He stressed that the design be completed by the end of this month.

Experts have repeatedly stressed the importance of balanced diet.

Word Study


12. predecessor n. (Para. 7)

1) the person who had a job or an official position before someone else 前任，前辈 She acquired her predecessor’s list of client.

Edward seemed to have learned nothing from the faults of his predecessor.

2) Something that has been replaced by another thing （被取代的）原有事物，前身

The scheme, like its two predecessors, had little chance to succeed.

Word Study


Notes: The prefix “pre-” means “happening before” “前，领先”

precede: happening or exist before another person or thing 先于… ( 发生或存在 )

preview: to study beforehand 预习prewar: before the war 战前的 preschool: before school学前的predict: to say what you think will happen in the future 预测，预计，预料prepaid: paid beforehand 预付的，预先付讫的

Word Study


13. suspect (Para. 8) v. to believe that something, especially something bad, is true 怀疑

Police suspected that she was involved in the robbery. He was suspected of child abuse. Carl seemed very friendly, but I suspected his motives.

Word Study

n. someone who the police believe may have committed a crime or who is likely to do or cause something bad 嫌疑人，嫌疑犯，可疑的人

He was under investigation as a murder suspect.


14. reassure v. (Para. 8)

to make someone feel less worried 使放心，使安心 ,安慰

He patted my shoulders, trying to reassure me that everything is going for th

e better.

I am afraid that there is not much I can say to reassure you.

Word Study

reassuring adj. 令人安心的，安慰的

A reassuring smile flashed on his face, which made me feel relieved.


15. address v. (Para. 9) 1) to write the name and address of a particular person or organization on an

envelope, parcel, etc. 写地址和姓名 This letter is addressed to Michael Smith.

2) to officially tell a particular person or organization your complaints, questi

ons, or comments 向…正式提出（投诉、问题或意见） Consumers can address their complaints to the head office.

3) to speak publicly to a group of people 讲演，公开讲话 He, as a guest speaker, is appointed to address the audience at the opening

ceremony.

4) to try to deal with a problem or question by doing things to improve the sit

uation 处理，应对 Governments have been slow to address the problem of global warming.

Word Study


16. trans- v. transparency (Para. 8) transnational (Para. 9)

Prefix “trans-”

1) across, used with some adjectives relating to place names to make adjecti

ves meaning from one side of that place to the other 表示”横穿、横贯“

trans-European motor races 环欧洲摩托车赛2) changing, used for making nouns, adjectives, or verbs 表示“变化”，

“变形” translate 翻译 transform 变形 3) between, used for making nouns, adjectives, or verbs 表示“在…之间”

transnational 国与国之间的 transport 交通运输 transplant 移植 transfer 搬运；调动

Word Study


Post-Reading

1. Comprehension2. Translation

3. Question on the Article

4. Readers’ comments on the Article


1. Comprehension

1. Which word best describes the author’s attitude toward the G-20 London Summit?

A. Indifferent B. Supportive C. Encouraged D. Disappointed

2. As agreed at the meeting, aside from tax heavens, what is the other aspect the member countries pledged to fight against?

A. Hedge funds B. Consumer spending C. Deficit spending D. Domestic inflation

3. What does “them” (Line 4, Paragraph 4) refer to?

A. European leaders B. G-20 leaders C. German politicians D. Rich countries

D

A

C


4. According to the author, which statement is NOT TRUE?

A. President Bush had been tough when dealing with the European countries. B. President Bush had been in favor of the idea of America acting as a global regulator. C. Obama stressed the importance of American consumer spending in restoring global economy. D. President Obama needs to take a stricter stand in front of the Europeans leaders

if world growth continues to decline. 5. Which of the following is NOT one of the major disagreements between the USA and the Europeans countries at this G-20 meeting?

A. Stimulus spending B. Comprehensive cross-border regulation C. The causes of the current economic crisis D. More transparency and better early-warning systems between nations

C

D

1) 他完全致力于这道难题，却最终没有想出解决办法。

2) 我所做的一切都被证明是毫无意义。

3) 想要取得最终的胜利，目前所做的远远不够。

Translate the following sentences into English.


2. Translation

He was heavily involved in / committed to the problem, but failed to come up with any solution at the end.

What I have done proved to be of no significance/ meaning.

It will take much more than is done to achieve the ultimate victory.

4) 总统先生拒绝回答我们的提问，并同时强调双方进一步协商的重要性。

5) 无论是谁犯了罪，迟早都要受到惩罚。


Mr. President declined to answer our question stressing the importance of further negotiations between the two sides.

Whoever commits crimes/ breaks the law will be punished sooner or later.

6) 人们普遍认为这项新颁布的政策对于俄罗斯的受创经济，是一次重拾信心的有益的尝试。

7) 这项计划是由我的前任全权负责的。


It is generally believed that this newly-issued policy is a favorable attempt torestore confidence in Russia’s battered economy.

My predecessor is in complete charge of/ is fully responsible for this project.

• According to the passage, what are the major achievements of the G-20 London summit meeting?

• Why does the author say that the leaders at the London meeting “fell short”? What does the author suggest the leaders to do in response to the current economic crisis?


3. Questions on the Article

"They fell short."

There was absolutely no discussion at the G-20 about ACCOUNTABILITY in the financial markets which caused the current mess. A token firing of an auto executive is not enough. More is necessary.

What we are witnessing is an "exclusive" club of heads of nation-states and the financiers who put them there. They have miserably failed their people and are now busy trying to put some spin on their positions that "this is the day the world came together to fight back against the global recession," instead of taking concrete actions to restore faith in the economy and the world markets.

It seems they appear tone deaf to the feedback of ordinary citizens.

— gmonpolitics, Ames, Iowa


4. Readers’ comments and opinions in response to the editorial

"When both sides grumble about the result, rather than praise it, you will know that progress is being made."Good point. It may be folk wisdom, but I have found it to be true in my own life and see no reason it should not be applicable at the G20.

—josef nix, atlanta, georgia

One important point I'd like to make: The world economy cannot be built on US consumer spending when the American consumer is spending money that he/she simply doesn't have. I thought that this idiocy has become totally clear by now. We don't need a re-run of a failed system.

— bruxman, Europe

What can you expect from a 1 day meeting? Three or four would have been more appropriate.

— Boston Mom, Boston


4. Readers’ comments and opinions in response to the editorial

America's wealth was built on a common lie. Like the Roman and British Empires before we believed that we could consume 60% of the worlds riches forever. Forever has ended.

The rich nations of the world must now go on a strict diet. It's no shock that fat nations resist calorie restrictive meal plans. Changing the behavior of the rich nations and their people will take far longer than a healthy economy can withstand. We're all in for a bumpy ride.

— jsb, binghamton, ny


I usually agree with most of the editorials that the Times prints but in this case, I feel this editorial was way off base.

I thought much more was accomplished including the restoration of America's ability to talk to

nations instead of war on them. Saying the G20 fell short is like saying water puts out fire. In many eyes, the G20 will always fall out short. You rightly criticize the Bush administration because THEY caused all this damage. America led the world to a great economic collapse (Why do we constantly believe big is better? We act like a group of Ferengi with our desire and personal greed.) and you expect the rest of the continue to trust us now? Who are you kidding? Even I, as an a American citizen, have serious doubts but I've found the President Obama has made more headway into attacking EVERY venue of disruption that George Bush and the Republicans have caused the past 8 years. It takes a smart man to listen to ALL sides, it takes a stupid man to impose his views as the only views there is.

We've had 8 years of stupidity, give the current president a chance. Give the G20 the credit it does do. At least they talked about it and are trying. Bush would have refused to listen to other nations.

— telestrike, PA


I was a little more enthusiastic/hopeful when I listened to the news coverage last night. after reading the editorial, I am not so sure. Is it possible the Times editors were hoping for too much? — TomC, Scotla

Sure there could have been more accomplished but this was more than could have been expected. Stop whining NYT. — Pete Debono, Denver

You and Professor Krugman have become suddenly very hard to please. You say the summit accomplished more than anyone could expect, but it was not nearly enough. It was progress, but not a panacea. There were compromises. What happened to your patience? Do you expect 8 to 20 years of neglect and mismanagement to be completely rectified in less than 100 days...?

There is lots of steering, tweaking and whirring to be done. Jerking and careening won't get us to a safe destination. There will be time to add to the stimulus packages if and when the time is right. In the meantime, where can we find a little bit of much needed and well deserved optimism around here? There are signs the recession's mad rush to depression is slowing, and there are no world wars. Maybe a little hope or gratitude would be in order at this point in time...? — Neal, Perkasie, PA


Editors, I understand why you’d like to see greater stimulus efforts, but not why you support the American position of a weak regulatory body and rules. You say: “When both sides grumble about the result, rather than praise it, you will know that progress is being made.” Are you saying that there is no best set of rules? You do say that “more transparency and better early-warning systems for systemic risks” won't be enough “to reassure investors that markets are safe.” Apparently you agree that America is not above the rules.

Editors: the “world’s wealthy nations must come to a common understanding of the causes of this crisis.” You seem in denial about America’s role in creating the financial disaster we now face. Sure, other global capitalists participated, but in general it was a failure of neo-liberal economic policies, spearheaded by U.S. and British bankers. You mention hedge funds, etc., but the only reason we had these monsters was because we permitted it.

No, Editors, face it: the causes are known, and they all must be unraveled and returned to a status quo ante of about 1979. Perhaps a lot earlier. All the Europeans are saying is “admit your mistakes, clean the world house, and then let’s figure out the stimulus plan”.— Butler Crittenden, San Francisco, CA


From our European point of view, the main cause of the crisis was an excess of credit and mass deficit, especially in the States. How can we accept to go on spending money we don't have? —thierry, paris

“With consumer spending and business investment collapsing around the world, rich countries are the only ones that have the resources to do what is needed.”The only ones to do what is needed?I suppose lowering taxes to stimulate economics -- a tactic proven time and time and time again -- is verboten (禁止的 )?Maybe we should all understand a little bit about a thing called history before jumping to hysterics.To claim ONLY big governments can save us; and then ONLY by spending -- is beyond ludicrous (荒唐的，滑稽的 ). — IntellectGetOne, Hanging Rock, NC

Source from:

http://community.nytimes.com/article/comments/2009/04/03/opinion/03fri1.html



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Notes ：本文档的时事图片均来自 http://images.google.cn/

Documents

Unit 4