French Coface says world growth to slow down in 2011

    PARIS, Jan. 17 (Xinhua) -- French leading credit insurer Coface estimated on Monday that the world economy would slow growth to 3.4 percent in 2011 from 4 percent in 2010 with emerging（新兴的） economies still leading the growth while joint¹ pressure of private debt, austerity fiscal² policy and raw materials prices weighs on development.
    The subsidiary of the Natixis Bank made the statement at its 15th Country Risk Conference.
    The advanced countries would show growth of 1.8 percent compared to 2.3 percent in 2010, with the euro zone to decelerate by 1.4 percent, lower from 1.7 percent in 2010, while the emerging countries will "continue the solid growth trajectory³ in 2011" with 6.2 percent increase, compared to 6.7 percent in 2010, the statement said.
    Risk for the euro zone, grouping a number of advanced countries, is mainly on private debt bubble which resulted in sovereign crises, but the emerging countries, according to Coface, are also facing a surge in indebtedness in the private sector⁴, which could risk growth financing though not serious enough now given the weight of private sectors⁵.
    "The convergence between the risks in advanced countries and emerging countries is getting stronger," said Coface, the third largest global credit insurer（保修公司）, stressing "it's time of converging⁶ risk" between the advanced and the emerging.
    "The euro zone has demonstrated that it is possible to be in a crisis with very high external debt but in 'local currency'," breaking the stereotype⁷ of risk only linked to the foreign currency component⁸ of the debt in emerging countries, explains Francois David, Chairman of Coface.
    As for evaluating country risks, Coface said it observed improvement in terms of country ratings for the year 2010. In 2010, it set the lowest rating in the advanced countries at A4, now 27 emerging countries including Turkey, Brazil, India and Poland have ratings greater than or equal to A4, better than Greece, Ireland and Portugal.
    Coface ranks as one world leader of credit insurance for export with 25 percent market share. Besides offering credit insurance, factoring and receivables management to global clients, it is also rating 156 countries, of which 28 are advanced countries.(本文由在线英语听力室整理编辑)

1 joint   

adj.联合的，共同的；n.关节，接合处；v.连接，贴合

参考例句：

• I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
• We wrote a letter in joint names.我们联名写了封信。

2 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

3 trajectory   

n.弹道，轨道

参考例句：

• It is not difficult to sketch the subsequent trajectory.很容易描绘出它们最终的轨迹。
• The path followed by a projectile is called its trajectory.抛物体所循的路径称为它的轨道。

4 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

5 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

6 converging   

adj.收敛[缩]的，会聚的，趋同的v.（线条、运动的物体等）会于一点( converge的现在分词 )；（趋于）相似或相同；人或车辆汇集；聚集

参考例句：

• Plants had gradually evolved along diverging and converging pathways. 植物是沿着趋异和趋同两种途径逐渐演化的。 来自辞典例句
• This very slowly converging series was known to Leibniz in 1674. 这个收敛很慢的级数是莱布尼茨在1674年得到的。 来自辞典例句

7 stereotype   

n.固定的形象，陈规，老套，旧框框

参考例句：

• He's my stereotype of a schoolteacher.他是我心目中的典型教师。
• There's always been a stereotype about successful businessmen.人们对于成功商人一直都有一种固定印象。

8 component   

n.组成部分，成分，元件；adj.组成的，合成的

参考例句：

• Each component is carefully checked before assembly.每个零件在装配前都经过仔细检查。
• Blade and handle are the component parts of a knife.刀身和刀柄是一把刀的组成部分。