资源描述
,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,商务英语综合教程,ISBN,：,978-7-81134-,2011,年,11,月 第,2,版,Unit 5,Recent economic developments,Introduction,In spite of the global recession,Chinas economy grew 8.7 percent in 2009.Growth decelerated significantly in end 2008 and early 2009 as exports collapsed amidst the global recession.But,Chinas massive stimulus package kicked in the second quarter of 2009.We estimate that quarter on quarter gross domestic product(GDP)growth peaked in the second quarter and moderated to an average 10 percent in the second half(seasonally adjusted annualized(SAAR),bringing year on year(yoy)GDP growth to 10.7 percent in the fourth quarter.,New Words,decelerate,vi,.,减速，降低速度,vt,.,使减速,collapse,vi,.,倒塌；瓦解；暴跌,vt,.,使倒塌，使崩溃；使萎陷,n,.,倒塌；失败；衰竭,recession,n,.,衰退；凹处；后退；不景气,robust,adj.,强健的；健康的；粗野的；粗鲁的,infrastructure,n,.,基础设施；公共建设；下部构造,subsidy,n,.,津贴；补助金；补贴,budget,n,.,预算，预算费,vt,.,安排，预定；把,编入预算,vi,.,编预算，做预算,adj,.,廉价的,deficit,n,.,赤字；不足额,real estate,n,.,不动产，房地产,Notes,1.,global recession,全球经济衰退,A global recession is a period of global economic slowdown.The,International Monetary Fund,(IMF)takes many factors into account when defining a global recession,but it states that global economic growth of 3 percent or less is equivalent to a global recession.By this measure,four periods since 1985 qualify:19901993,1998,20012002 and 20082009.,2.,stimulus,刺激,In,economics,fiscal policy is the use of government expenditure and revenue collection(taxation)to influence the economy.,Fiscal policy can be contrasted with the other main type of,macroeconomic policy,monetary policy,which attempts to stabilize the economy by controlling interest rates and the,money supply,.The two main instruments of fiscal policy are government expenditure and taxation.,Notes,3.budget,预算,A budget is a list of all planned expenses and revenues.It is a plan for saving and spending.A budget is an important concept in,microeconomics,which uses a,budget line,to illustrate the trade-offs between two or more,goods,.In other terms,a budget is an organizational plan stated in monetary terms.,A government,budget,is a legal document that is often passed by the,legislature,and approved by the,chief executive,-or president.For example,only certain types of revenue may be imposed and collected.,Property tax,is frequently the basis for,municipal,and,county,revenues,while,sales tax,and/or,income tax,are the basis for state revenues,and,income tax,and,corporate tax,are the basis for national revenues.,Notes,4.deficit,赤字,A governments deficit can be measured with or without including the interest it pays on its debt.The,primary deficit,is defined as the difference between current,government spending,and total current revenue from all types of,taxes,.The total deficit(which is often just called the deficit)is spending,plus interest payments on the debt,minus tax revenues.,5.mortgage,抵押,A mortgage loan is a,loan,secured,by,real property,through the use of a,mortgage note,which evidences the existence of the loan and the,encumbrance,of that realty through the granting of a,mortgage,which,secures,the loan.However,the word mortgage alone,in everyday usage,is most often used to mean mortgage loan.,Notes,6.government transfer,政府转移支付,In,economics,a transfer payment(or government transfer or simply transfer)is a,redistribution of income,in the,market system,.These payments are considered to be no exhaustive because they do not directly absorb,resources,or create,output,.Examples of certain transfer payments include,welfare(financial aid),social security,and government,subsidies,for certain,businesses,(firms).,7.Government spending or government expenditure,政府支出,It is classified by economists into three main types.Government acquisition of goods and services for current use to directly satisfy individual or collective needs of the members of the community is classed as,government final consumption expenditure,.Government acquisition of goods and services,intended to create future benefits,such as infrastructure investment or research,Notes,spending,is classed as government investment(,gross fixed capital formation,),which usually is the largest part of the government,gross capital formation,.Acquisition of goods and services is made through own production by the government(using the governments labour force,fixed assets and purchased goods and services for,intermediate consumption,)or through purchases of goods and services from market producers.Government expenditures that are not acquisition of goods and services,and instead just represent transfers of money,such as social security payments,are called,transfer payments,.Government spending can be financed by,seigniorage,taxes,or government,borrowing,.,Exercises,Comprehension of the Text,I.Answer the following questions according to the text.,1)Was Chinas econonmy greatly affected by the global recession?and why,？,2)What result in Chinas robust growth in 2009?,3)What has been a
展开阅读全文