首页
登录
职称英语
This Christmas the world economy offers few reasons for good cheer. As cred
This Christmas the world economy offers few reasons for good cheer. As cred
游客
2024-05-31
10
管理
问题
This Christmas the world economy offers few reasons for good cheer. As credit contracts and asset prices declined, demand across the globe is declining. Rich countries collectively face the severest recession since the Second World War: this week’s cut in the target for the federal funds rate to between zero and 0.25% shows how fearful America’s policymakers are. And conditions are deteriorating fast too in emerging economies, which have been exhausted by declining exports and the drying-up of foreign finance.
This news is bad enough in itself; but it also poses the biggest threat to open markets in the modem era of globalization. For the first time in more than a generation, two of the engines of global integration -- trade and capital flows -- are shifting into reverse at the same time. The World Bank says that net private capital flows to emerging economies in 2009 are likely to be only half the record $ 1 trillion of 2007, while global trade volumes will shrink for the first time since 1982.
This twin shift will force adjustments. Countries that have relied on exports to drive growth, from China to Germany, will slump unless they can boost domestic demand quickly. There is a risk that in their discomfort governments turn to an old, but false, friend: protectionism. Integration has less appeal when pain rather than prosperity is hanging across borders. It will be tempting to support domestic jobs and incomes by diverting demand from abroad with export subsidies, tariffs and cheaper currencies.
The lessons of history, though, are clear. The economic isolationism of the 1930s cruelly intensified the Depression. To be sure, the World Trade Organization (WTO) and its multilateral trading rules are a bulwark(壁垒) against protection on that scale. But today’s globalised economy, with far-stretched supply chains and just-in-time delivery, could be disrupted by policies much less dramatic than the Smoot-Hawley act. A modest shift away from openness -- well within the WTO’s rules -- would be enough to turn the recession of 2009 much nastier. Increased protection of that sort is, alas, all too plausible. [br] Because of decreasing exports and lack of financial support, situations in emerging markets are ______.
选项
答案
deteriorating fast
解析
本题是对新兴市场目前状况的考查;由定位句可知新兴市场因为出口受挫和外来融资干涸的影响,其情况正在飞速恶化(deteriorating fast),可知正确答案即为此。
转载请注明原文地址:https://tihaiku.com/zcyy/3613110.html
相关试题推荐
TheHydrogenEconomyItseemsthatevery
TheHydrogenEconomyItseemsthatevery
TheHydrogenEconomyItseemsthatevery
TheHydrogenEconomyItseemsthatevery
Everyonceinawhilethereasonsfordiscouragementaboutthehumanprospec
Everyonceinawhilethereasonsfordiscouragementaboutthehumanprospec
Everyonceinawhilethereasonsfordiscouragementaboutthehumanprospec
WiththeU.S.economyslowingdown,layoffsareeverywhere.Noindustryis
WiththeU.S.economyslowingdown,layoffsareeverywhere.Noindustryis
WiththeU.S.economyslowingdown,layoffsareeverywhere.Noindustryis
随机试题
Theroomwasnottidy.Shoes,socksandbookswereseen___________onthefloor.A
Although"namingrights"haveproliferatedinAmericanhighereducationfor
[originaltext]Yourassignmentsthistermwillbetowritetwomajorresearc
教师指导学生毕业论文(设计)的原则有哪些?
脑膜炎奈瑟菌分解葡萄糖和麦芽糖:A.不产酸不产气 B.产酸产气 C.不产酸产
根据《巴塞尔新资本协议》的要求,商业银行的内部评级系统应当包括()两个维度。A
工资总额的准确统计为国家( )提供了重要依据。A.计算经济补偿金 B.了
劳动定额管理的内容主要包括( )。A.劳动定额的制定 B.劳动定额的贯彻
真核生物mRNA前体剪接部位的结构有( )。A.5′-剪接位点为GU B.3
胆汁质气质的人,其高级神经活动类型属于A:强、均衡而灵活的活泼型 B:强、均衡
最新回复
(
0
)