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[主题活动] [1010G]【决战2010精英组Economist阅读贴----DEBATE分贴】by TEAR(xingfuhbj) [复制链接]

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发表于 2010-4-30 20:28:49 |显示全部楼层
本帖最后由 xingfuhbj 于 2010-5-1 20:10 编辑

标记规则:
重要词汇  
次重要词汇
native表达和好的结构
不懂的:欢迎高手来解答~~
段意总结

向组员yuanlingqinggre童鞋学习了总结段落大意~很有帮助~不过导致我归纳ECO的时间再度延长...
PS:BACKGROUND READING  A中的"段意总结"是直接copy的yuanlinngqing童鞋的~谢谢谢谢~!
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发表于 2010-4-30 20:45:21 |显示全部楼层
本帖最后由 xingfuhbj 于 2010-4-30 22:26 编辑

第一篇DEBATE:GERMAN
链接:http://www.economist.com/debate/overview/170

话说总结DEBATE耗的时间比看一遍耗的时间多的多啊~

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发表于 2010-4-30 20:45:41 |显示全部楼层

About this debate



In 2009 China was the world's top exporter of goods but Germany(先把Germany丢出来吊在那,引起阅读兴趣), with less than a tenth of (作比较方式之一)China's population and much higher wages, (感觉中间插入的起对比作用的修饰语可以起到很好的强调作用)is the leading challenger. Exports are the main driver(native表达) of Germany's economic growth. Its current-account surplus will exceed China's as a share of GDP this year. This makes Germany vulnerable: its economy was hit harder(native 表达) by the global slump(表达全球萧条之类的很native表达,感觉economic crisis之类的都已经写烂了~) than those less reliant on trade. But that is a small price to pay, most Germans think, for a vibrant(生机勃勃的; 振动的,明快的) manufacturing sector and the skilled, high-wage jobs that go with it.
【虽然世界第一出口国的位置被中国夺走,德国仍具有很强的出口能力。但过度依赖出口发展起来的经济在全球经济危机前显得尤为脆弱,尽管德国人认为这理所当然。】



But is export-led growth sustainable? Germany's current-account surplus contributes to the strains that threaten the stability of the euro. France's finance minister, Christine Lagarde, recently suggested that Germany cut taxes or raise wages to stimulate imports. If deficit-ridden countries in Europe and elsewhere are to export their way out of trouble, surpluses somewhere will have to fall. Germany, the world's fourth largest economy, looks like a prime candidate. Does Germany have to rethink its economic model?


【德国经常项目过剩威胁到了欧盟体经济的稳定性,而这种出口导向型的经济增长本身是否稳定也值得商榷。德国是否需要重新考虑其经济运行模式呢?】
-----------------------------------------------------------------------------------------------
词汇:
global slump:全球不景气. global economic slump:全球经济衰退

vibrant: 生机勃勃的; 振动的,明快的
【反】ponderous:沉闷的

deficit-ridden:负债累累的. debt-redden, debt-laden
Native表达:
main driver(native表达)
was hit harder(native 表达)
global slump(表达全球萧条之类的很native表达,感觉economic crisis之类的都已经写烂了~)
结构:
In 2009 China was the world's top exporter of goods but Germany(先把Germany丢出来吊在那,引起阅读兴趣), with less than a tenth of (作比较方式之一)China's population and much higher wages, (感觉中间插入的起对比作用的修饰语可以起到很好的强调作用)is the leading challenger.
疑问:
If deficit-ridden countries in Europe and elsewhere are to export their way out of trouble, surpluses somewhere will have to fall.
没怎么理解这句话~

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发表于 2010-4-30 21:03:47 |显示全部楼层
本帖最后由 xingfuhbj 于 2010-5-1 20:10 编辑

Background Reading  A

----------------------------------------------------------------------------------------------------

A special report on Germany


Inside the miracle


How Germany weathered the recession


Mar 11th 2010 | From The Economist print edition


“THIS is what we love,” exclaims Jan Stefan Roell, presenting an intricately (杂乱地,复杂地) worked ingot([]锭铁, 工业纯铁) of gleaming(闪闪发光) steel as though it were a piece of jewellery(注意二者的搭配). It belongs somewhere in the innards(<>内部结构,内脏) of a testing machine made by Zwick Roell, the firm he owns. One model rips the eyes off teddy bears (to see if children can), another pokes computer keyboards. Mr. Roell wants the visitor first to admire the part, next the Swabian craftsmen who fashioned it and then the German genius for making expensive and indispensable(不可缺少的) things. His customers expect German thoroughness(彻底性), he says.


Ulm-based Zwick Roell, which has 950 employees and sales of 150m ($202m) a year, is a typical Mittelstand(德国专业化的中小型企业) firm. Until the 1930s it made buttons from cow horn imported from Argentina, but when plastic took over it switched to testing machines. Like many Mittelstand enterprises Zwick works backstage, making things that are used in making other things. The thousands of Zwick-like firms that constitute the engineering sector are a cornerstone(奠基石, 基础) of Germany’s industrial economy. They employ nearly 1m workers, more than any other industry, and export almost 80% of their production. Often the product is not merely a machine, but also a panoply(n. 全副盔甲,盛装,盛况,防护物) of services(不知道这个搭配的意思是不是全套的服务?) that go with it.

【许多德国的中小型企业都在进行加工,即从国外进口,加工后在出口。这是德国工业的基石。】

Last year they took a beating(挨打(受到打击)). Sales plunged(猛跌,骤降
非常native的好词) by a fifth to 160 billion; Zwick fared no better(native表达
一样糟糕)
. The wonder was that engineering firms shed(native表达) a mere 40,000 jobs. “In narrow commercial terms we can’t justify that,” says Hannes Hesse, head of the Association of German Machine Builders in Frankfurt(法兰克福). His members are betting that demand will bounce back(native表达), but it is a gamble. Three possible misfortunes could scupper(to defeat or put an end to
native表达)
recovery, he reckons: another terrorist attack, another
tremor(a feeling of uncertainty or insecurity)
in the banking system and a failure by banks to supply enough credit to his members or their customers. The jobs miracle could yet falter (lose drive or effectiveness).


【德国机械厂只解雇了40000个人,即使整体的销量减少了20%160M 欧元。机械制造联盟的成员正在打赌,他们认为经济能够回升】

The last time Zwick made a regular employee redundant(这是商务英语表示裁员的地道表达) was in 1992. That is because the workforce reacts to economic shocks like a well-engineered suspension system. When the crisis hit, Mr. Roell shed some workers on temporary contracts and cut the working hours and pay of regular employees. When such a deal is negotiated with the works council it is binding on the workforce, a “huge advantage”, he says. He invites the council’s chairman to every management meeting.


【他很少解雇职员】

This symbiosis owes something to the intimate scale(不知为啥可以如此搭配~可能是取的舒适的,怡人的,气氛融洽的一意吧~) of a Mittelstand enterprise, but it also relies on an institutional machine as intricate as one of Zwick’s testing contraptions(n. 精巧的设计, 装置). Mr. Roell recruits skilled workers through an apprentice system with roots in medieval(中世纪) guilds(行会,同业公会,协会). He manages labour relations within a framework set by negotiations between employers’ associations and trade unions. This arrangement survives because Germans have a knack for(“擅长的超级native表达!) changing the way something works yet keeping its basic structure intact(完整无缺的,未经触动的,未受损伤的).


【这种职员与雇主的共生关系不仅仅是由于中小型行业的intimate scale,还来自于一种学徒系统,它源自于中世纪的工会】

Slowly but surely(稳定的,坚定不移的)


Twenty years ago it was a byword(格言, 谚语, 笑柄) for rigidity(固执,坚定,僵化). Wages and working conditions were set in sector-wide negotiations that allowed individual firms little scope(“机会native表达) for variation, tying employers’ hands. Outwardly(表面地, 外观上地) little has changed, but the contracts have changed character. In the 1980s “they were like the Bible,” says Martin Wansleben, chief executive of the German Chambers of Industry and Commerce. “Now they provide important guidance.”

【之前,工资以及工作环境受合同束缚,在当时它就像圣经。然而现在,它只是一种指导】

This was not a bloodless coup(政变,砰然的一击,妙计,出乎意料的行动). Many East German enterprises, caught between low productivity and paying D-mark wages, shunned(避开,规避,避免) sector-wide labour contracts. High unemployment, the threat of production moving to central Europe and Mr. Schr&ouml;der’s reforms cranked up the pressure(此搭配表示施加压力). As unions lost members, employers defected(变节,叛变) from the industry federations. Only half of west German private-sector workers are covered by sector-wide contracts, against two-thirds in 1998(作对比的方式之一), says Reinhard Bispinck of the Hans-B&ouml;ckler-Stiftung, a think-tank(智囊团) close to the trade unions.


【然而现在这种良好的共生关系并不是没有任何牺牲就达成的】

Give and take


And even when they do, the contracts are riddled with “opening clauses”. At firm level bosses and works councils formed “alliances for jobs” under which workers sacrificed pay to secure employment. Working-hours accounts allow companies to adjust the amount of work done to peaks and troughs(固定词组,高峰和低谷 native表达) in production without paying overtime(付加班费). This flexibility powered exports, lifted economic growth and fattened profits(这三个动词真是用地excellent!看着好激动的说~). It enriched everyone, the unions grumble(抱怨;咕哝), except workers. Wage rises have lagged behind(“落后native表达) productivity gains and inflation since 2000, driving down(“使下降native表达) unit labour costs relative to those of Germany’s competitors (see chart 3).
【工会与雇主们达成了共识,形成了就业联盟。工人们牺牲自己的收入去保持就业,就业时间可以随生产的高峰与低谷而调整。这刺激了出口,但是,工人们得利并不多。】


smash the machine


Though bosses readjusted the settings in their favour, they did not. In some ways Mitbestimmung, workers’ rights to influence decision-making, was strengthened. Job alliances, for example, draw works councils into company strategy. In December workers at Mercedes(奔驰--梅塞德斯)’s Sindelfingen factory near Stuttgart went on strike after the company said it would shift production of its C-Class cars to Alabama, so Mercedes promised to maintain employment at the plant until 2020. That pledge “would be worth nothing without new products and investments”, points out J&ouml;rg Hofmann, head of the Baden-Württemberg branch of IG Metall(德国金属工会), the trade union for the industry. Top of the reformers’ hit list(a list of those targeted for special attention or treatment) is Germany’s rigid regime(政体,制度) for protecting workers from dismissal(又一表示解雇的词). But without that protection workers would not allow hours to pile up in working-time accounts, says Alexander Herzog-Stein, also of the Hans-B&ouml;ckler-Stiftung.
【老板们之后把工人们也纳入了公司的决策管理。】

The crisis has drawn the two sides closer together. Both are determined to defend Germany’s export success. It helps that they can blame the recession on outsiders and bankers rather than on each other. More important, employers have so far kept their side of the flexibility bargain(再度温习, “遵守承诺”) by keeping up employment.


Much of the credit for Germany’s jobs miracle goes to Kurzarbeit(缩短工时), a scheme under which government hands out(给与,分发,散发) subsidies to firms that retain surplus workers, but there is more to it. Joachim M&ouml;ller, head of the Institute for Employment Research (IAB), part of the Federal Employment Agency, argues that flexible working hours have been an important factor in holding up employment. When the recession hit, workers had built up a large number of extra hours in their working-time accounts that could be wound down(减少) as work dried up. But firms were also looking ahead to a prospective scarcity of labour.
【在金融危机时,两方的关系更加近了】

In 2009 the number of people of working age in western Germany shrank for the first time. The firms hit hardest by the crisis were precisely those that had the biggest problems recruiting skilled labour before it. “Most companies will see a significant impact” from a shortage of qualified labour by 2014 or 2015, says Harald Krüger, head of personnel at BMW, a Munich(慕尼黑)-based carmaker. Despite the crisis, BMW was careful not to cut its annual intake of 1,000 apprentices.


【处在工作年龄的人的数量在2009年第一次下滑】
All this provides a perfect setting for Mr. Roell to indulge his passion for profitable perfectionism. His machines are four times as expensive as competing testers made in China, his second-biggest market. The company actually makes its own boxes so that the gear arrives in perfect condition. Although Mr. Roell has competitors, he acknowledges no peers(认为无人可与其并肩). Where his main American rival prefers standard solutions, Zwick’s engineers go for a tailor-made(定做的) approach. The complexity-loving culture on the factory floor is shaped by Germany’s “dual system” of vocational training, which combines classroom learning with hands-on experience. At Zwick Roell it is reinforced by a Swabian passion for inventive tinkering, or tüfteln. “I can delegate things that in other countries need supervision,” he says.
【所有的这些形式,对像R这样的中小型企业有着很大的帮助。他们追求着有利可图的完美主义】
It is a pact(n. 契约,协定,条约) that depends partly on the owner not appearing to be too greedy. Mr Roell reinvests two-thirds of the firm’s profits. The Mittelstand survives “because families don’t want the money”, he says. “They want the business to continue.” And they are not easily put off(欺骗): “If people tell you tax is a big issue they haven’t done their homework.” Bureaucracy is a bigger problem. Mr Roell grumbles that he has to install internal safety doors on his lifts, “ridiculous stuff which keeps me from doing my job”. All in all, though, he feels that Germany’s skilled workers and its infrastructure(基础结构,基础设施) make it “a wonderful place to do business”.
【虽然官僚也是一个问题,但是只要雇主不要太贪婪,公司的境况不会太差。毕竟,德国的训练有素的工人和良好的设施有利于做生意】
But the success of firms like Zwick Roell is not synonymous with(不同的) Germany’s. Manufacturing’s share of output and employment has dropped, though it remains larger than in most competitor countries (see chart 3, above). Workers with permanent factory jobs have done relatively well recently. Since 2005 the pay of IG Metall’s members went up by a total of 14%, says Mr Hofmann—less than the rise in productivity, but still “satisfactory”. The price of flexibility was higher for workers in weaker sectors or with “atypical” contracts. Schlecker, a chain of discount chemists(药房), recently shut down some shops and sacked the workers(“裁员的又一native说法), but at the same time opened bigger ones with temporary staff at lower pay. Public outrage(公众的不满情绪) forced a retreat.
【类似于R的成功与德国的成功是两码事】


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发表于 2010-4-30 21:24:36 |显示全部楼层

Let’s have a party


Stagnant(不流动的,不景气的) pay and domestic consumption have increased Germany’s dependence on exports. Between 2004 and 2008 its net exports accounted for nearly 40% of GDP growth. Its trade surpluses are the mirror image of deficits run by countries now no longer able to afford them, including several of its partners in the euro zone. Germany may not have been responsible for the headlong rush into consumption(消费狂潮) that caused the imbalances but, says Thomas Mayer, Deutsche Bank’s chief economist, “we were caterers to the party.” It is still in progress. Between the mid-1990s and 2007, current-account imbalances rose from 2% of global GDP to 6%. They have since eased back to 4%, but with public rather than private spending fuelling demand. That cannot last, Mr Mayer thinks.
【经济的不景气使德国更加依赖于出口】

Germany, he feels, should therefore throw its own party by rebalancing growth away from exports and towards domestic demand. Unusually, this puts the Deutsche Bank economist in the same camp as the trade unions, though their remedies differ. The unions want higher wages, backed by a statutory minimum wage(法定最低工资), which would boost domestic demand and suck in more imports. Mr Mayer would encourage more low-wage jobs, which would beef up(加强(增援,充实)) Germany’s services.


【经济学家认为德国应该减少其出口去平衡增长,并去迎合国内需求】

But not that many Germans are worried about the current-account surpluses. The country is getting older, so it makes sense for it to accumulate investments in more youthful places. The surpluses could be smaller, perhaps, but the main concern is keeping Germany in medal position among world exporters. If America and Europe buy less, China, India and Brazil will buy more. The next generation of export blockbusters is already coming up, as the next section will show.


【德国人并不担心他们在经常项目上的剩余,他们也有自己的理由】

--------------------------------------------------------------------------------


词汇:
intricately (杂乱地,复杂地)
gleaming(闪闪发光)
indispensable(不可缺少的)
scupper(to defeat or put an end to)
tremor(a feeling of uncertainty or insecurity)
falter (lose drive or effectiveness)
intact(完整无缺的,未经触动的,未受损伤的)
rigidity(固执,坚定,僵化)
shunned(避开,规避,避免)
grumble(抱怨;咕哝)
regime(政体,制度)
Stagnant(不流动的,不景气的)
defected(变节,叛变)

ingot([]锭铁, 工业纯铁)
innards(<>内部结构,内脏)
thoroughness(彻底性)
cornerstone(奠基石, 基础)
panoply (n. 全副盔甲,盛装,盛况,防护物)
took a beating(挨打(受到打击))
plunged(猛跌,骤降)
employee redundant(这是商务英语中表达裁员的地道表达)
contraptions(n. 精巧的设计, 装置)
medieval(中世纪)
guilds(行会,同业公会,协会)
byword(格言, 谚语, 笑柄)
Outwardly(表面地, 外观上地)
think-tank(智囊团)
paying overtime(付加班费)
smash (n./v.打碎,粉碎adj. 极为成功的)
IG Metall(德国金属工会)
hit list(a list of those targeted for special attention or treatment)
kept their side of the flexibility bargain(再度温习, “遵守承诺”)
hands out(给与,分发,散发)
wound down(减少)
tailor-made(定做的)
pact(n. 契约,协定,条约)
put off(欺骗)
infrastructure(基础结构,基础设施)
chemists(药房)
Public outrage(公众的不满情绪)
headlong rush into consumption(消费狂潮)
statutory minimum wage(法定最低工资)
beef up(加强(增援,充实))
专有名词
Frankfurt(法兰克福)
Munich(慕尼黑)
Mercedes(奔驰--梅塞德斯)
Native表达:
a piece of jewellery(注意二者的搭配)
Sales plunged (非常native的好词)
fared no better(一样糟糕)
shed(native表达)
bounce back(native表达)
native表达
have a knack for(“擅长的超级native表达!)
scope(“机会native表达)
cranked up the pressure(此搭配表示施加压力)
peaks and troughs(固定词组,高峰和低谷 native表达)
lagged behind(“落后native表达)
driving down(“使下降native表达)
acknowledges no peers(认为无人可与其并肩)
sacked the workers(“裁员的又一native说法)
a bloodless coup(政变,砰然的一击,妙计,出乎意料的行动)
dismissal(又一表示解雇的词)
is not synonymous with(不同的)
结构:
against two-thirds in 1998(作对比的方式之一)
This flexibility powered exports, lifted economic growth and fattened profits(这三个动词真是用地excellent!看着好激动的说~).
链接:
Mittelstand(德国专业化的中小型企业)
Wiki对于其的解释:http://en.wikipedia.org/wiki/Mittelstand
某一提到了的文章:
http://www.ce.cn/finance/main/oversea/200606/08/t20060608_7256965.shtml
Kurzarbeit(缩短工时)
http://de.wikipedia.org/wiki/Kurzarbeit


PS:!!!!该死的欧元符号差点没整死我!我反复粘贴了快上十遍才研究出来原来是因为欧元符号的原因才贴不上来!本来现在正在现在下东西~以为是自己电脑慢的原因~啊啊啊~~大家要引起重视啊!!!

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发表于 2010-4-30 22:35:09 |显示全部楼层

Background Reading  B

----------------------------------------------------------------------------------------------------


Germany


Europe's engine


Why Germany needs to change, both for its own sake and for others


Mar 11th 2010 | From The Economist print edition



ELSEWHERE in the world, Europe is widely regarded as a continent whose economy is rigid and sclerotic(硬化的), whose people are work-shy(怕工作的,讨厌工作的) and welfare-dependent, and whose industrial base is antiquated and declining—the broken cogs and levers that condemn the old world to a gloomy future. As with most clichés(陈词滥调,陈腐的思想), there is some truth in it. Yet as our special report in this week’s issue shows, the achievements of Germany, Europe’s biggest economy, tell a rather different story.


A decade ago Germany was the sick man of Europe, plagued(.折磨,烦扰) by slow growth and high unemployment, with big manufacturers moving out in a desperate search for lower costs. Now, despite the recession, unemployment is lower than it was five years ago. Although Germany recently ceded its place(native 表达) as the world’s biggest exporter to China, its exporting prowess(英勇,非凡的能力) remains undimmed. As a share of GDP, its current-account surplus this year will be bigger than China’s.


This feat gives the lie to(证明为假的) the picture, common in America and Asia, of Europe as a washed-up(不再成功的,不行了的,疲倦的) continent incapable of change. And, for the rest of Europe, there is a lot to be said for having a strong economy at the continent’s geographical and political centre. Yet Germany’s success is paradoxically(自相矛盾地,反常地) also causing problems for its neighbours—problems which they, and Germany, need to address.


The old and the new


Germany’s impressive flexibility is the consequence of old virtues combined with new ones. The old consensus-building management system helped employers keep unions on side(合规则的位置) when costs needed to be held down(注意二者的搭配). The famous Mittelstand (small and medium-sized firms, often family-owned) went through its operations, step by step, judging what to do in Germany, what to send abroad and what to outsource.


At the same time, economic policy took a new, liberalising(放宽限制,自由主义化), direction. The Schr&ouml;der government introduced reforms to the labour market and welfare systems in 2003-04; spurred on(鼓舞,鞭策) by those, and by competitive pressures from Europe’s single currency, German business ruthlessly(无情的,残忍的,冷酷的) held down real wages. Unit labour costs fell by an annual average of 1.4% in 2000-08 in Germany, compared with a decline of 0.7% in America and rises of 0.8% and 0.9% in France and Britain respectively(表示数据及比较的方式). Although last year’s recession hit Germany hard, its economy is in much better shape now than it was a decade ago—a point that should be noted in France, where President Nicolas Sarkozy has taken to railing against(谴责) outsourcing, and in southern Europe, which bends over backwards(竭尽全力) to preserve overgenerous wages and restricted labour markets.


Germany is rightly proud of its ability to control costs and keep on exporting. But it also needs to recognise that its success has been won in part at the expense of its European neighbours. Germans like to believe that they made a huge sacrifice in giving up their beloved D-mark ten years ago, but they have in truth benefited more than anyone else from the euro. Almost half of Germany’s exports go to other euro-area countries that can no longer resort to(求助于) devaluation to counter German competitiveness.(注意搭配)


While Anglo-Saxons(盎格鲁-撒克逊人,即指英国人) were throwing money around, Germans kept saving. Domestic investment has not kept pace. The result of Germans’ prowess at exporting, combined with their reluctance to spend and invest, has been huge trade surpluses. Germany’s excess savings have been funneled abroad—often into subprime assets(次贷资产) in America and government bonds in such countries as Greece. It would be absurd to maintain that a prudent(谨慎的,有远见的,精打细算的) Germany is responsible for Greece’s profligacy(放荡,不检点,浪费) or Spain’s property bubble (though a few heroic economists have argued this). But it is true that, within a single-currency zone, habitual surplus countries tend to be matched by habitual deficit ones.


Give spending a chance


Imbalances cannot be sustained for ever, whether they are deficits or surpluses. Yet surplus countries tend to see themselves as virtuous and deficit countries as venal(唯利是图的,贪赃枉法的)—the implication being that the burden of adjustment should fall on the borrowers. Germany’s response to the troubles of Greece, Spain and other euro-area countries has followed just such a line. A bail-out for Greece, once taboo, is now being debated—and German ministers have even come out in favour of a putative(假定的,被公认的) European Monetary Fund (see article). But the idea that Germany should itself seek to adjust, through lower saving and higher consumption and investment, still seems unacceptable to Angela Merkel’s government.


It is certainly true that Germany’s neighbours have a great deal of work to do. France, Italy and Spain need to follow Germany in loosening up their labour markets; Italy, Spain and Greece need to tighten their public finances. But Germany also needs to push ahead with liberalisation. Its web of regulations is too constricting; its job protection is too rigid; its health, welfare and education systems still need big doses of change(native搭配); its service sector is underdeveloped. You do not have to be a free-market zealot(热心者,狂热者) to think that it is too hard to start a new business in Germany, or to worry that a fat tax (是税太重的意思吧?) “wedge”(楔子,经济学中把税收比作打入供求的楔子.感谢yuanlingqing童鞋滴帮助~!) to pay for health care and welfare reduces low-paid service jobs. Nor do all the changes Germany needs to make mean cutting government back. Too few women are in full-time work, partly because child-care support is lacking. The country’s demographic prospects are dire.( 可怕的,悲惨的,灾难警告的,极其的)


A bold programme of German structural reforms would do much to boost consumption and investment—and, in turn, to raise Germany’s GDP growth, which remains disturbingly feeble.( 虚弱的,无力的) Germany can also afford growth-boosting tax cuts without ruining its public finances. If only Germany would lift its head, it would see that this is in its own wider interest, both because it would be good for German consumers and because it would help the euro area to which it is hitched(拴住). Europe’s single currency, like the European Union itself, owes much to past German leadership. When that goes missing, both the currency and the club tend to suffer—and Germany is foremost(最初的) among the losers.

----------------------------------------------------------------------------------------------------------


词汇:
plagued(.折磨,烦扰)
prowess(英勇,非凡的能力)
liberalising(放宽限制,自由主义化)
spurred on(鼓舞,鞭策)
railing against(谴责)
prudent(谨慎的,有远见的,精打细算的)
profligacy(放荡,不检点,浪费)
venal(唯利是图的,贪赃枉法的)
zealot(热心者,狂热者)
dire.( 可怕的,悲惨的,灾难警告的,极其的)
feeble.( 虚弱的,无力的)
hitched(拴住)
foremost(最初的)

work-shy(怕工作的,讨厌工作的)
clichés(陈词滥调,陈腐的思想)
gives the lie to(证明为假的)
washed-up(不再成功的,不行了的,疲倦的)
paradoxically(自相矛盾地,反常地)
on side(合规则的位置)
ruthlessly(无情的,残忍的,冷酷的)
resort to(求助于)
subprime assets(次贷资产)
putative(假定的,被公认的)
sclerotic(硬化的)
专有名词:
Anglo-Saxons(盎格鲁-撒克逊人,即指英国人)
“wedge”(楔子,经济学中把税收比作打入供求的楔子.)
Native表达:
ceded its place(native 表达)
costs be held down(注意二者的搭配)
respectively(表示数据及比较的方式)
bends over backwards(竭尽全力)
counter one’scompetitiveness.(注意搭配)
big doses of change(native搭配)
结构:
You do not have to be a free-market zealot(热心者,狂热者) to think that it is too hard to start a new business in Germany

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发表于 2010-4-30 23:35:56 |显示全部楼层
本帖最后由 xingfuhbj 于 2010-5-1 20:12 编辑

Background Reading  C

---------------------------------------------------------------------------------------------------------

Germany and the euro


May the best man share(译言上翻成‘英雄所见不同’)

What the Germans see as economic virtue(n.美德,优点P436), some of its partners see as vice(n.缺点,弱点)(这句话在译言上被译成甲之甘露,乙之砒霜,有点意思哟~)


Mar 31st 2010 | BERLIN | From The Economist print edition


Angela prepares for battle


IT WAS Greece that let public spending(固定搭配,(政府)公用事业支出) rip(开篇就是一个强调句), lied about it and is now trying to stave off(避开,阻挡,延缓) default(拖债,未履行的责任P120. But the Greek crisis has somehow morphed into(演变为,morph本意为变化,变形) the German problem. Angela Merkel, the German chancellor(总理,大错,大学校P72), led resistance to a bail-out(跳伞,应急措施  bail本意为保释金P44) of Greece. For her pains, she was lionised(同lionize崇拜,看重P269 at home (Bild, a tabloid, depicted her as a sword-bearing(译言译为执政者 reincarnation(化身,转世) of Bismarck(俾斯麦)) but denounced(指责,谴责,告发P125 by her neighbours(此处指欧盟其他成员国). “Angela, have a little courage,” pleaded Viviane Reding, vice-president of the European Commission(欧盟委员会). Other countries see Germany’s huge current-account(现金账户,等于净出口)surpluses as almost as big a problem as Greece’s deficits.(这个比较方式有些些special,三个as连着用) They keep expecting a history-chastened Germany to contribute generously to the European project and to demand less than its due(预定的,应付的,到期的,应有的). Now it stands accused of(注意standaccused of 的搭配)turning away(回绝,打发走,译言翻译为不作为.


On March 25th European leaderspatched up their differences(固定搭配,消除分歧) over Greece. Under a deal cooked up(此处cooked up用的非常玄妙,借用了deal的另一意思,译为‘促成的协议’) by Mrs Merkel and the French president, Nicolas Sarkozy, Greece’s euro partners will come to its aid(固定搭配,援助某人) as a last resort(度假胜地,此处译为‘手段,方法’P361(see article). That would be the bail-out that Mrs Merkel wanted to avoid, but it may never happen. Any help will require the unanimous(全体意见一致的 P448 approval of the 16 euro-area members, giving Germany a veto(否决,禁止 P461IMF(abbr. 国际货币基金组织(=International Monetary Fund)) involvement will shield(掩护,遮挡,保护P396 Germany from blame for imposing tough conditions. The hope is that the mere talk(我对于talk前面用个mere感到很迷惑) of a rescue will be enough to ease speculative(投机的,推理的,思索的P408
此处与attack作固定搭配,译为‘投机冲击’
attacks on Greece.


Yet the contradictions(矛盾,反驳P103that caused the crisis, which go back to the euro’s birth in 1999, remain unresolved. Germany greeted the single currency as a levelling(n. 水准测量,成水平,矫正,平整) of the commercial playing-field and has been honing(磨刀,磨光P220 competitiveness搭配译为‘增强竞争力’its competitiveness ever since. Greece and other Mediterranean(地中海地区 countries saw the euro as an opportunity to engage in business as usual, but(这句想来想去逻辑上想不通,最后发现我学了这么多年英语才知道but原来还有之外的意思with the benefit of lower interest rates. There is broad agreement(注意共识的翻译) that Greece and the rest must change. The question is, must Germany, Europe’s biggest economy(注意经济体的翻译), change too?(注意疑问句的使用)


To most Germans the idea verges on(接近,濒临) the ridiculous. Germany entered the single currency handicapped, they say, by a strong D-mark(德国马克) and the cost of unification(统一,一致 P451). Employers and trade unions(工会) co-operated to keep a lid on(隐瞒某事) labour costs(劳工成本). The government contributed by liberalising(使自由化) the jobs market. It also cut social-security contributions(社会保障税), partly making up the shortfall(差额,注意其与‘make up’的搭配) with higher value-added tax. Between 2000 and 2008 unit labour costs declined by 1.4% a year in Germany while rising by nearly 1% a year in France and Britain. Germany breached(破坏,违反) the euro’s budget-deficit ceiling(天花板,最大额度,最大限额) of 3% of GDP, but eliminated its deficit by the eve of the crisis.


But this abundance of virtue looks like vice to several of Germany’s EU partners. Germany’s duel with China to be the world’s top exporter demands that it suppress(压制,缩减) incomes and so Germans’ ability to consume.(注意这个并列结构)Its current-account surpluses—and the mirror-image deficits of others—are a prime cause of instability. When France’s finance minister, Christine Lagarde, recently called for surplus countries to “do a little something” to promote European growth, she was casting doubt on Germany’s export-driven model.


She did not explicitly(清楚说明地,明白地P176 propose France as a role model(模范,榜样) but IMK, a German research institute close to the unions, does. France’s wage growth has kept up with productivity and inflation. Its exports have grown more slowly than Germany’s, but private consumption has advanced at almost triple the rate.(比较方式之一) Between 1999 and 2007 French GDP grew a third faster and employment twice as fast as Germany’s. (比较方式之一)Gustav Horn of IMK reckons that Germany’s focus on exports created 400,000 jobs, but weak demand(注意这俩词的搭配)
cost another 1m.


Many Germans detect a plot to nobble(诈骗,译言译为‘收买’) their exporters. A sprinter(短跑运动员) should not have to “put lead weights in his shorts”, snarled(纠缠,混乱P403 the economy minister, Rainer Brüderle. The idea of imitating France, with its budget deficits and sickly manufacturing sector, seems bizarre. German officials reject the most obvious ways of shrinking the current-account surplus. Markets, not governments, set wages, they say. To push them up artificially would merely raise unemployment, which would depress consumption and imports still further.


One answer, Mrs Lagarde argues, would be to cut taxes, an idea supposedly(大概) favoured by Germany’s coalition(结合,联合P81) government, which combines Mrs Merkel’s Christian Democratic Union with the Free Democratic Party. But a new balanced-budget amendment to the constitution will force Germany to
slash(大幅度削减)
spending or raise taxes next year—the opposite of what is needed to correct Europe’s imbalances and shore up growth.


There are other ways to shrink the gap between Germany’s high savings rate and relatively low investment, the underlying reason for its current-account surplus. A new OECD survey of Germany says the key is to boost investment, for example by encouraging innovation, which Mrs Merkel is keen to do; and by liberalising entry into professions such as law and accounting, which she may not want. (举例的格式)But these are not quick fixes. Europe will be stuck with Germany’s surpluses for years to come.



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发表于 2010-4-30 23:42:24 |显示全部楼层
词汇:
default(拖债,未履行的责任 P120)
chancellor(总理,大错,大学校长P72)
bail  本意为保释金 P44
lionised(lionize崇拜,看重 P269)
denounced(指责,谴责,告发 P125)
resort(度假胜地,此处译为‘手段,方法’)
unanimous(全体意见一致的P448)
veto(否决,禁止 P461
shield(掩护,遮挡,保护P396)
speculative(投机的,推理的,思索的P408 )
contradictions(矛盾,反驳 P103)
honing(磨刀,磨光 P220)
unification(统一,一致 P451)
explicitly(清楚说明地,明白地 P1)
snarled(纠缠,混乱P403)
coalition(结合,联合P81)

public spending(固定搭配,(政府)公用事业支出)
stave off(避开,阻挡)
morphed into(演变为,morph本意为变化,变形)
bail-out(跳伞,应急措施)
sword-bearing(译言译为执政者
reincarnation(化身,转世)
due(预定的,应付的,到期的,应有的)
turning away(回绝,打发走,译言翻译为不作为
speculative
attack
(作固定搭配,译为‘投机冲击’

evelling(n. 水准测量,成水平,矫正,平整)
honing competitiveness(搭配,译为‘增强竞争力’

verges on(接近,濒临)
social-security contributions(社会保障税)
shortfall(差额,注意其与‘make up’的搭配)
breached(破坏,违反)
ceiling(天花板,最大额度,最大限额)
suppress(压制,缩减)
role model(模范,榜样)
weak demand(注意这俩词的搭配)
nobble(诈骗,译言译为‘收买’)
sprinter(短跑运动员)
supposedly(大概)
slash(大幅度削减)
专有名词
D-mark(德国马克)
broad agreement(注意共识的翻译)
economy(注意经济体的翻译)
Mediterranean(地中海地区
IMF(abbr. 国际货币基金组织(=International Monetary Fund))
Bismarck(俾斯麦)
European Commission(欧盟委员会)
current-account(现金账户,等于净出口)
labour costs(劳工成本)
trade unions(工会)
Native表达:
IT WAS Greece that let…rip(开篇就是一个强调句),
stands accused of(注意standaccused of 的搭配)
patched up their differences(固定搭配,消除分歧)
a deal cooked up(此处cooked up用的非常玄妙,借用了deal的另一意思,译为‘促成的协议’)
come to its aid(固定搭配,援助某人)
keep a lid on(隐瞒某事)
结构:
Other countries see Germany’s huge current-account surpluses as almost as big a problem as Greece’s deficits.
(这个比较方式有些些special,三个as连着用)

Greece and other Mediterranean countries saw the euro as an opportunity to engage in business as usual, but(原来but还有之外的意思…) with the benefit of lower interest rates.

for example by encouraging innovation, which Mrs Merkel is keen to do; and by liberalising entry into professions such as law and accounting, which she may not want. (举例的格式)

The question is, must Germany, Europe’s biggest economy, change too? (注意疑问句的使用)

Germany’s duel with China to be the world’s top exporter demands that it suppress(压制,缩减) incomes and so Germans’ ability to consume.(注意这个并列结构)
Its exports have grown more slowly than Germany’s, but private consumption has advanced at almost triple the rate.(比较方式之一)
Between 1999 and 2007 French GDP grew a third faster and employment twice as fast as Germany’s. (比较方式之一)

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发表于 2010-4-30 23:51:59 |显示全部楼层
本帖最后由 xingfuhbj 于 2010-5-1 08:47 编辑

Background Reading  D

---------------------------------------------------------------------------------------------------

Leading exporters


Mar 31st 2010 | From The Economist print edition



Global commerce was walloped(重击,猛打) by the global economic crisis. The World Trade Organisation reckons that the value of merchandise(商品,货物) exports declined by a staggering(令人吃惊的) 23% in 2009. The value of Japan’s shipments abroad shrank by 26% and that of Germany’s fell by 22%. America’s went down by 18%, China’s declined by 16% and South Korea’s decreased by 14%, the smallest fall among the ten biggest exporters. China’s smaller contraction enabled it to edge past(缓缓通过) Germany to become the world’s leading exporter. China accounted for 9.6% of the global total in 2009, while Germany’s share was 9% and that of America 8.5%. Six of the ten leading exporters last year were European countries.


【去年的经济危机严重打击了世界经济,各国出口均锐减。由于中国的出口减少幅度相对德国较少,因而取代德国成为了世界第一出口国。前十名出口国中有6个是欧洲国家。】
词汇:
walloped(重击,猛打)
staggering(令人吃惊的)

merchandise(商品,货物)
to edge past(缓缓通过)
结构:
这段很适合作比较时学习。作者对于表示减少采取了多个同义词表示.可以学习学习~.

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发表于 2010-5-1 08:44:51 |显示全部楼层

Opening statements

-------------------------------------------------------

Defending the motion

Heiner Flassbeck

Director, Globalisation and Development Strategies, UNCTAD

If it comes to make or break in the currency union, only external adjustment will provide the basis for a proper judgment on misdoings, wrongdoers and those who have to take the first step. Germany has to move definitively because it has misunderstood European Monetary Union more than any other country.

【德国必须要作出调整,因为它给EMU带来的误导比其他成员国多的多。】
其实我没怎么看懂这个人的话~他的思维我没法儿理解~

Against the motion

Michael Hüther

Director of the Cologne Institute for Economic Research

The Greek crisis may be recent, but the line of reasoning is old. In the 1980s and 1990s, some European governments tried to nudge Germany towards a lax monetary and fiscal policy, hoping thus to spare themselves the necessity of a desirable but difficult reorganisation of government finances and moderation in wage policies.

【欧盟不应把希腊的赤字归咎于德国,事实上欧盟一些成员国曾试图把某些责任推给德国而自己置身事外。】

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发表于 2010-5-1 09:09:11 |显示全部楼层


The moderator's opening remarks


Apr 7th 2010 | Brooke Unger


Is Germany a euro-saint or a euro-sinner?(有意思的native表达,非常适合AW开头! 我真恨不得highlighthighlight~!) Amid the wreckage of the global financial crisis the German economy is looking pretty good. To be sure, last year's 5% plunge in GDP was even bigger than average among rich countries. But unemployment has not risen much and, though Germany turned on the fiscal taps to(多好的表达呀~) douse((使)浸入水中,(使)熄灭,excellent的词!) the crisis, its budget deficit looks less horrific than many. With world trade now picking up(native表达), Germany's twin virtues of competitiveness and a commitment to fiscal discipline look like a good formula for a sustainable economic recovery. If only Greece were as saintly, the euro would not be in such trouble today. So runs the case for Germany's economic canonisation.(正典,追封为圣者)


Or you could say that the paragon(模范) is in fact a fraud. Germany's apparent success consists of piling up(堆积,积累) current-account surpluses that cannot last. They have come about largely because(表原因的native表达) employers and the government have beaten down German wage-earners(工薪阶层), making exports more competitive and suppressing imports. The consequence is offsetting current-account deficits for countries like Greece, Spain, Portugal and Italy, which are threatening to bring Europe's 11-year experiment with a single currency to a premature(比预期时间早的) and traumatic(创伤的) end. Far from doing its bit to(尽一份力) correct the imbalances, Germany proposes to worsen them by tightening fiscal policy, which will depress domestic demand and thus imports, making the strains within the euro group still worse. On this view Germany is accessorised not with a halo but with a pitchfork.(多好的句子啊~)


To argue this out The Economist has invited two economists who are as learned and thoughtful as they are pugilistic. Heiner Flassbeck, the motion's defender, is one of Germany's leading Keynesian economists. As a top official in the German finance ministry under Oskar Lafontaine, he pushed for a co-ordinated Europe-wide economic and fiscal policy. After Mr Lafontaine quit in 1999, Mr Flassbeck became chief economist of the United Nations Conference on Trade and Development in Geneva.(日内瓦[瑞士城市] He is the author of “Gescheitert: Warum die Politik vor der Wirtschaft kapituliert”, which contends that politicians brought about economic disaster by surrendering to narrow commercial interests.


Michael Hüther, it is safe to say(不妨这样说), has a friendlier (friendly还有这样的比较级啊…) take on the influence of business. He is director of the business-financed Institut der deutschen Wirtschaft K&ouml;ln, which provides much of the intellectual firepower for the advocacy of pro-market(查出一个主供市场经济的意思,觉得不好~) policies in Germany. Through articles, speeches and the torrent of research over which he presides(主持,主管), Mr Hüther is one of the leading explicators(诠释者) of Germany's astonishing resilience as a top exporter of manufactures and a champion of the German business model.


Their clash is not just about the wisdom of Germany's economic policies but about the fate of the single currency and, indeed, the evolution of the world economy as a whole. Relish it, learn from it and by all means take part in it(这人的文笔真是好啊!)

-------------------------------------------------------------------------------------------

词汇:
Plunge(猛跌,骤降)

paragon(模范)
traumatic(创伤的)
presides(主持,主管)

canonisation.(正典,追封为圣者)
piling up(堆积,积累)
wage-earners(工薪阶层)
premature(比预期时间早的)
专有名词:
Geneva.(日内瓦[瑞士城市]
Native表达:
Amid the wreckage of
To be sure
douse((使)浸入水中,(使)熄灭,excellent的词!)
picking up(“增加native表达)
twin virtues of
doing its bit to(尽一份力)
friendlier (friendly还有这样的比较级啊…)
intellectual firepower
the torrent of (“很多native 表达,lot of~)
explicators(诠释者)
结构:
Is Germany a euro-saint or a euro-sinner?
(有意思的native表达,非常适合AW开头! 我真恨不得highlighthighlight~!)
But unemployment has not risen much and, though Germany turned on the fiscal taps to(多好的表达呀~) douse((使)浸入水中,(使)熄灭,excellent的搭配!) the crisis,

Or you could say that(段首用语~)

They have come about largely because(表原因的native表达)

which are threatening to bring…to a xxx end.

On this view Germany is accessorised not with a halo but with a pitchfork.(多好的句子啊~)
two economists who are as learned and thoughtful as they are pugilistic.

it is safe to say(不妨这样说)

Their clash is not just about the wisdom of Germany's economic policies but about the fate of the single currency and, indeed, the evolution of the world economy as a whole.


Relish it, learn from it and by all means take part in it(这人的文笔真是好啊!)


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发表于 2010-5-1 10:19:59 |显示全部楼层


The proposer's opening remarks


Apr 7th 2010 | Heiner Flassbeck


Among the deluge of comments on the crisis of European Monetary Union (EMU), few focus the most crucial point: the external imbalance inside EMU. Greece's budget problems and those of other southern members of EMU are important, but they are closely related to external deficits(国际收支赤字). In contrast, Germany's sound budget position is to a large extent the result of the huge external stimulus it has received in the past decade. The key to the future of EMU is to be found in external adjustment in all countries and not in lopsided governments' belt-tightening(强制性节约) around the Mediterranean Sea. 【即指德国】It is the external imbalances that will force the dissolution of EMU if strong corrective action is not taken soon. And if it comes to make or break in the currency union, only external adjustment will provide the basis for a proper judgment on misdoings, wrongdoers and those who have to take the first step.
【个人以为这句话还是指的德国】
Germany has to move definitively because it has misunderstood EMU more than any other country.


【欧洲的经济危机根植于其国际收支不平衡,而罪魁祸首就是德国。因而德国理应为此做出行动。】我真的不知道这意思对不对~


The drama of EMU is not Hellenic(希腊的). Greece is only the tip of a large iceberg. But a comparison of Greece and Germany reveals the core of the problem. Greece's current account deficit had reached nearly 15% of GDP in 2007 and has recently come down slightly as a result of falling imports. Between 2000 and 2010 Greece's exports were sluggish(懒惰的,迟钝的,无精打采的) at 1.8% in real terms, but domestic demand rose at a healthy(sluggish对应) 2.3%. (All figures are from the Statistical Annex of European Economy.) Real compensation to labour increased at 1.9% per employee annually, a little less than productivity and solid indeed.(没看懂~) But nominal compensation grew by 4.9% and the ratio of nominal compensation to productivity (unit labour costs), the most important measure of international competitiveness in a currency union, advanced at a rate of 2.7% per year and reached a level of 130 in 2010 if 2000 is 100.


【但看希腊并不能说明什么,而其与德国的比较可以凸显欧盟经济的问题。随着赤字的增加,希腊的进口、内需、实际工资、单位劳动力成本都增长了许多。】

The biggest country in the EU, Germany, accumulated a huge current account surplus in the same period, culminating((…)告终) at 8% in 2007. Between 2003 and 2007 Germany's real exports exploded but domestic demand stagnated(对比词). Nominal compensation and unit labour costs in Germany also rose only marginally over the decade, the latter reaching a level of 105.5 in 2010 (0.5% annual rate). Stagnant real compensation explains the sluggish domestic demand given that(假定,已知,考虑到) employment creation did not follow the wage restraint. Flat unit labour costs explain the explosion of exports, in particular before the crisis and against EMU members; the share of intra-EU exports of goods in Germany's GDP rose from 16.6% in 1999 to 25.7% in 2007.


【德国的出口经济增长是表象,其增长归功于其极低的单位劳动力成本】

The gap in unit labour costs means that a comparable basket of goods and services produced at the same cost in 2000 in all the EU member states now costs 25% more if it comes from Greece than if it comes from Germany. The difference is similar for Spain, Portugal and Italy. But the difference is also 13% for France, although France was the only country where unit labour costs followed strictly the inflation target of 2% set by the European Central Bank.


【德国极其的单位劳动力成本使其他国家同治产品的生产成本相对增加。】

Indeed, the inflation target is crucial for the judgment on wrongdoers. EMU was not meant to be a zero inflation union but a 2% inflation union. Measured against this scale the conclusion is obvious: a 2% inflation target is compatible with a 2% unit labour cost increase. An increase of 2.7%, as in Greece, has meant that the country is living beyond its means(入不敷出) but has violated the rule to a lesser degree than Germany, living at 0.4% below its means Germany has explicitly agreed to the target of close to 2% because it was its own target before EMU. Given this target and the overriding importance of unit labour costs for inflation, Germany headed towards a clear violation of the common target once its government started to put enormous pressure on wage negotiations to improve the country's competitiveness inside and outside EMU.


【政府压制了工资的上涨,以增加其出口的竞争力,从而偏离了欧盟的通货膨胀指标目标。】

Some people believe that the difference is not relevant as Germany had absolute disadvantages before the beginning of EMU, mainly because of the burden of German unification. However, logic says otherwise.(这是事实并非如此的意思么?) If your belt-tightening makes up for absolute disadvantages([]绝对劣势), you will not end up with absolute advantages.([]绝对优势~学过的都忘了~害我研究了好久啊~) But this is exactly the German case. Germany is the only big country in Europe that was able to stabilise its global market share in the first decade of this century—all the others, including France, lost dramatically.


这段涉及了国际经济学的原理,我有点没懂~下次问老师去

That leads to the final line of Germany's defence, namely that(也就是) high unemployment has justified German wage dumping. Wrong again—unemployment is a feature in most EMU member states and German wage restraint did not remove it because the domestic demand gap has compensated for the external demand boom. Between 2000 and 2010 overall German growth performance was a meagre(瘦的,不足的,贫乏的) 0.6% annually—only half of France's. Gross fixed capital formation fell by 0.2%, compared with an increase of 1.4% in France. Moreover, countries seeking to depress wages for domestic or other reasons should not join currency unions and agree to pursue a 2% inflation target. It was obvious; with open borders and permanent transfers excluded no country could survive economically a huge absolute disadvantage triggered by its biggest trading partner.


【德国的低就业水平也体现了其工资水平的低下,而其巨大的国外需求也被其低下的内需所抵消。事实上,像德国这种不跟着欧盟经济体的目标走的国家不应加入欧盟。】

European politicians are wrong if they believe that there will be national solutions. If Germany continues with belt-tightening, and there is every indication that(种种迹象表明) it will, the countries with absolute disadvantages will need to cut wages. The result will be protracted(延长的,拖延的) deflation and depression for EMU as a whole but with no Phoenix rising from the ashes as long as no one opts(选择,挑选) for exit. But the crisis is more a German tragedy than a Greek one. If Germany cannot agree to concerted action with explicit decisions about wage adjustment paths for many years, indeed for decades, to rebalance its trade, it could still save Europe by leaving EMU and allowing a strong revaluation of its new currency.


【欧盟经济的问题更多因归咎于德国而不是希腊。如果德国一意孤行坚持继续强制性节约,那么它最好自动离开欧盟体,否则会给欧盟带来沉重的经济打击。】

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发表于 2010-5-1 10:20:23 |显示全部楼层
词汇:
sluggish(懒惰的,迟钝的,无精打采的)
meagre(瘦的,不足的,贫乏的)
culminating((…)告终)
专有名词:
Hellenic(希腊的)
absolute disadvantages([]绝对劣势)
absolute advantages.([]绝对优势~学过的都忘了~害我研究了好久啊~)
Native表达:
external deficits(国际收支赤字)
belt-tightening(强制性节约)
healthy(sluggish对应)
exploded ----stagnated(对比词)
given that(假定,已知,考虑到)
is living beyond its means(入不敷出)
the overriding importance of(最重要的~)
the final line of defence(最后一道防线)
namely that(也就是)
protracted(延长的,拖延的)
opts(选择,挑选)
concerted action(一致的行动)

结构:
Among the deluge of comments on the crisis of European Monetary Union (EMU), few focus the most crucial point:

In contrast, Germany's sound budget position is to a large extent the result of the huge external stimulus

The key to the future of EMU is to be found in external adjustment in all countries and not in….

Greece is only the tip of a large iceberg.

But a comparison of Greece and Germany reveals the core of the problem.

there is every indication that(种种迹象表明)

there will be no Phoenix rising from the ashes as long as no one opts for…

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发表于 2010-5-1 11:06:18 |显示全部楼层


The opposition's opening remarks


Apr 7th 2010 | Michael Hüther


For different reasons, Germany is expected to reduce its dependence on exports. There are two arguments for this reduction, and they must be assessed separately. The first is put forward by German Keynesians(凯恩斯主义者) and the trade unions. Domestic demand, they say, should be boosted by a targeted promotion of private consumption, to be made possible by an expansionary course in both wage and fiscal policies. In those sectors with predominantly(优越地,卓越地,主要地) domestic customers and little international competition, a minimum wage level should be set to raise overall domestic demand even further. This argument focuses mainly on social equity within Germany. It has been around for some time(此观点提出已有些时日) but has been given added impetus(推动力,刺激) by the global economic crisis.


【各界要求德国减少对其出国的依赖性的原因主要有两个。其一是因提高工资水平以刺激内需】
The second argument is propounded on a European level. A European debate on German exports has recently been triggered by the fiscal debacle in Greece. The argument is as follows. The low competitiveness of the Greek economy is worsened by the extraordinary efficiency and strength of German companies. Germany, as an economy with huge export surpluses, forces other countries—like Greece—into a deficit position, and is therefore at least partly responsible for their difficulties. This reasoning leads to calls for lower German competitiveness, especially in export sectors, to be achieved through higher wages, which would make it easier for other economies to sell their products. The Greek crisis may be recent, but this line of reasoning(推理路线) is old. In the 1980s and 1990s, when the European Monetary System had fixed—but not immutable(不变的)—exchange rates, some European governments used similar arguments. A devaluation of their currencies against the Deutschemark was considered an embarrassment. To avoid this, they tried to nudge(轻推,引起注意,接近) Germany towards a lax(懒散的,松弛的) monetary and fiscal policy, hoping thus to spare themselves (怕吃苦,偷懒,不努力) the necessity of a desirable but difficult reorganisation of government finances and moderation in wage policies.
【另一原因是欧盟各国认为是德国超强的出口竞争力导致了希腊的巨大赤字,从而需提高工作来削弱其竞争力。而事实上这只是其他欧盟成员国在玩老把戏,企图把自己的失败归咎于德国的成功。】

Thus it becomes clear: the demand for a weakening of the German export position is based exclusively on distributive arguments—at both national and international levels.


Take a look at the facts. Has German economic growth been lopsided(倾向一方的,不平衡的)? Looking at the data for 2005-08, which constituted a recent strong cyclical upswing in Germany, net exports contributed an average 0.7 percentage points to GDP growth. Domestic demand, however, contributed more: 1.2 percentage points. These numbers indicate that Germany need not be overly worried about its dependence on exports. On the contrary, Germany is in the desirable position of having its economic growth sustained by both national and international demand. In France things looked completely different, as French economic growth was exclusively driven by domestic demand, which grew by 2.2 percentage points on average, while the country's net exports fell by an average of 0.5 percentage points. In Britain, the average economic growth of 2% per year was driven almost entirely by domestic demand.


【用数据与其他国进行对比说明事实上德国的经济增长并非不平衡增长】

It is true that the German export surplus has its counterpart in other countries' import surpluses. Nevertheless, the view that Germany has provoked the difficulties of countries like Spain or Greece is at best inaccurate, at worst malign.(这句子真好!) A quick look at the statistics for trade between Greece and Germany shows that the German share of all Greek imports increased from 13.1% in 2000 to 13.5% in 2008—hardly a life-draining(吸血) stranglehold(勒颈, 压制自由, 束缚, 抑制) on the Greek economy. Many other countries have benefited as much or more from soaring Greek imports. To make the point even clearer: if Germany had not exported any goods at all to Greece, the Greek balance of trade deficit would have decreased by only 20% in 2008.


【希腊的赤字并不能完全归咎于德国,数据显示德国的出口并没有占据希腊进口的很大一部分,事实上其他国家也需对此负责。】

One fact often ignored in the debate is that the balance of payments current account(流动项目收支差额) is the inverse(相反的) of the capital account. If Germany saves, it then exports capital and thus creates a potential for investment in other countries, so that opportunities for more growth and employment occur there. Similar opportunities arise from unilateral(单方面的;片面的) transfers, such as those provided by the EU Structural Fund and the EU Cohesion Fund, into which Germany—as the largest net contributor to the EU—pays considerable sums. What matters is how capital imports(资本输入) or unilateral transfers (国际收支中的单边资金转移) are used in the recipient countries. On the whole, in Greece, Spain and Portugal this capital has not been put to productive use. Additionally, on the path to European Monetary Union, these countries did not primarily use the economic stimulus of decreasing real interest rates, caused by real interest rate convergence, for investment.


看着有点晕~大概意思就是德国的CA减少了,储蓄增加了,那么对外投资就增加了,促进了其他国家的经济增长和就业;而欧盟给其他国家的单方面转移也多了。但这些国家并不会用这些流入的资本和单方面转移来增加投资,即还是会用来import我觉得这挺像谬论的~


What, then, are the reasons behind Germany's export strength? France's finance minister, Christine Lagarde, has pointed to a German competitive advantage based on the development of wages. In fact, in 2008, industrial labour costs per hour worked in Germany (33.58) and France (33.23) were almost identical. During the 1990s, industrial labour costs in both countries rose similarly, but from 2000 to 2008 Germany's position improved slightly, by 9%, compared with France's. However, this development cannot explain the difference in the export growth of the two countries.


【法国的财政部长认为德国的出口优势来源于其工资的缓慢增长,而事实上法国与德国的工资增长速度差不多,甚至慢于德国,所以该观点不成立。】

Anyone who wants to understand Germany's export success must recognise the great importance of manufacturing industry, which contributes 25% of the total gross value added in Germany, compared with 14% in France and 17% in Britain. This German peculiarity(特色;特性) is the result of a long process of specialisation. In the past few decades, it has also been sustained by globalisation: German companies are important suppliers of capital goods to emerging and developing countries. As such countries have been rapidly catching up, German exporters of capital goods have thrived. In 2000, 18% of German exports went to emerging countries(新兴国家); in 2007, this share had risen to 25%. Looking at capital goods, the difference is even bigger: in 2000, about 21% of capital goods exported from Germany were delivered to emerging countries; in 2007, this share had risen to 31%.


【德国的成功应归功于其强势的制造业】

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发表于 2010-5-1 11:06:37 |显示全部楼层
本帖最后由 xingfuhbj 于 2010-5-1 11:50 编辑

词汇:
predominantly(优越地,卓越地,主要地)
impetus(推动力,刺激)
immutable(不变的)
nudge(轻推,引起注意,接近)

Keynesians(凯恩斯主义者)
lax(懒散的,松弛的)
lopsided(倾向一方的,不平衡的)
life-draining(吸血)
stranglehold(勒颈, 压制自由, 束缚, 抑制)
inverse(相反的)
unilateral(单方面的;片面的)
专有名词:
capital imports(资本输入)
unilateral transfers (国际收支中的单边资金转移)
百度链接:http://baike.baidu.com/view/245572.html?fromTaglist
balance of payments current account(流动项目收支差额)
emerging countries(新兴国家)
Native表达:
It has been around for some time(此观点提出已有些时日)
this line of reasoning(推理路线)
spare themselves (怕吃苦,偷懒,不努力)
peculiarity(特色;特性)
is based exclusively on
结构:
The second argument is propounded on a European level.
The argument is as follows.

Nevertheless, the view that Germany has provoked the difficulties of countries like Spain or Greece is at best inaccurate, at worst malign.(这句子真好!)

Take a look at the facts.

A quick look at the statistics for…

Similar opportunities arise from…

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RE: [1010G]【决战2010精英组Economist阅读贴----DEBATE分贴】by TEAR(xingfuhbj) [修改]
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