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  3. The dramatic collapse in American consumer confidence, following the World T

The dramatic collapse in American consumer confidence, following the World T

游客2023-11-09  50
问题     The dramatic collapse in American consumer confidence, following the World Trade Center attack, increases the likelihood that the US economy will slide into recession. It’s not a nice message, but there’s no point in ignoring life’s harsh realities.
    America’s economy had been dragged along for nearly 18 months by the refusal of US consumers to face up to the fact that they were spending more than they were earning, share prices(especially in the high-tech sector)were in retreat, corporate America was cutting investment, and US unemployment was about to rise. The devastation wrought by the suicide killers has shaken American consumers from their state of denial. In Europe too, consumers have been rattled by the Manhattan atrocity and President Bush’s subsequent determination to hunt down the killers. A survey by a research group on behalf of the European Commission shows consumer confidence falling across the eurozone countries.
    But it’s America that is the greatest cause for concern. When the US stops spending, the rest of the world suffers. It imports more than any other country. In Britain, for example, Americans represent a big chunk of the tourism market, especially in London. The US is also crucially important to British-based car manufacturers, such as Jaguar and Land Rover, which seem certain to feel the pinch along with other luxury brands. This economic slowdown is not the creation of fevered press minds; it’s real and it’s now. That’s why the US government is considering a $100 billion revival package, including cuts in capital gains taxes and corporate taxes, to stimulate demand. Likewise, central banks in America, Europe and Britain have trimmed interest rates to beat off a credit crunch and lubricate the wheels of commerce. Their swift action is a tacit admission that a deep recession is possible, if not probably.
    Leading US investment bank, Morgan Stanley, told the Financial Times, "Never in their lifetimes have so many Americans feared for their safety in going to work, taking time off, or in procuring their daily needs." Stock markets, where most international indexes are about 30% below their 1999-2000 peaks, are telling us that corporate earnings are likely to be much lower than analysts had expected. Some sectors, such as airlines, hotels and insurance will be driven deep into loss.
    There is also a share-price discount for uncertainty, the biggest element of which is the extent of American military actions. Until the scale of the Middle East conflict becomes clear, investors will continue to shun the risk of equities for the certainty of cash and government bonds. Recovery will come. It always does. But a swift return to the go-go days of the late 1990s is inconceivable. [br] US government’s cuts in taxes are intended to
选项 A、stimulate import and export.
B、restore the vigor of economy.
C、bring back the confidence of spending.
D、help the sale of European luxury brands.
答案 B
解析 第3段第7句开头的that’s why．．．表明前一句与本句的内容构成因果关系。从这两句中的eco-nomic slowdown和revival等词可以知道美国政府的减税政策是为了复苏经济，由此可见，本题选择B最好。
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