voa标准英语2008年-Global Markets Respond Favorably to China Stimu

World markets are mostly higher after China announced a massive program to stimulate¹ its economy. From Washington, VOA's Michael Bowman reports.
　

A South Korean man is reflected on an electronic screen displaying foreign exchange rates at the head office of Korea Exchange Bank, Seoul, South Korea, 10 Nov 2008

China says it will spend $586 billion to stimulate its economy, which is slowing along with major economies around the world. The plan focuses on boosting infrastructure², promoting business investment and consumer spending, maintaining export growth, and reforming the country's financial sector³.

U.S. Treasury⁴ Undersecretary David McCormick hailed the plan after returning from a weekend meeting of G-20 finance ministers in Brazil.

"I think it is likely to have a very positive impact," said David McCormick. "China is an enormous country. There are huge challenges in terms of domestic consumption, and this stimulus⁵ should help encourage domestic consumption. And there is an infrastructure component⁶ of this, and of course China has enormous infrastructure needs. So we view this as a positive step.

McCormick was speaking on Bloomberg television.

As a percentage of its economic output, China's stimulus package outpaces similar measures enacted⁷ in the United States. So far this year, the U.S. government has spent $150 billion to prop⁸ up its faltering⁹ economy, and set aside $700 billion more to rescue troubled financial institutions. China's GDP is slightly more than half that of the United States.

Could China's stimulus provide a boost to the broader global economy? Not directly, according to University of Maryland business professor Peter Morici.

"It will not do the United States a lot of good, because China will still be very oriented towards exporting to the United States and not importing very much, which is a big drain on demand for U.S. good and services," said Peter Morici.

World markets reacted favorably to the news from Beijing. Shares in Tokyo rose nearly six percent, while European markets closed moderately higher. In New York, Wall Street's Dow Jones Industrial Average began the day with triple digit¹⁰ gains, but fluctuated between between positive and negative territory during the day.

Much of the global financial turmoil¹¹ of recent months can be traced to America's home mortgage crisis, which caused many of the country's best-known financial and insurance firms to fail. Monday, the Bush administration announced that the biggest insurance company in the United States, American International Group, will receive additional assistance under the government's emergency rescue package after posting massive financial losses.

Meanwhile, America's second-largest electronics retailer¹², Circuit City, filed for bankruptcy¹³ - the latest sign of a severe economic downturn.

1 stimulate   

vt.刺激，使兴奋；激励，使…振奋

参考例句：

• Your encouragement will stimulate me to further efforts.你的鼓励会激发我进一步努力。
• Success will stimulate the people for fresh efforts.成功能鼓舞人们去作新的努力。

2 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

3 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。

4 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

5 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。

6 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。

7 enacted   

制定（法律），通过（法案）( enact的过去式和过去分词 )

参考例句：

• legislation enacted by parliament 由议会通过的法律
• Outside in the little lobby another scene was begin enacted. 外面的小休息室里又是另一番景象。 来自英汉文学 - 嘉莉妹妹

8 prop   

vt.支撑；n.支柱，支撑物；支持者，靠山

参考例句：

• A worker put a prop against the wall of the tunnel to keep it from falling.一名工人用东西支撑住隧道壁好使它不会倒塌。
• The government does not intend to prop up declining industries.政府无意扶持不景气的企业。

9 faltering   

犹豫的，支吾的，蹒跚的

参考例句：

• The economy shows no signs of faltering. 经济没有衰退的迹象。
• I canfeel my legs faltering. 我感到我的腿在颤抖。

10 digit   

n.零到九的阿拉伯数字，手指，脚趾

参考例句：

• Her telephone number differs from mine by one digit.她的电话号码和我的只差一个数字。
• Many animals have five digits.许多动物有5趾。

11 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

12 retailer   

n.零售商(人)

参考例句：

• What are the retailer requirements?零售商会有哪些要求呢？
• The retailer has assembled a team in Shanghai to examine the question.这家零售商在上海组建了一支团队研究这个问题。

13 bankruptcy   

n.破产；无偿付能力

参考例句：

• You will have to pull in if you want to escape bankruptcy.如果你想避免破产，就必须节省开支。
• His firm is just on thin ice of bankruptcy.他的商号正面临破产的危险。