独家权威震撼发布：张中宁主编《最新西方报刊经贸文章选读》课后作业答案Lesson12.docVIP

KEY TO EXERCISES Section A: Text Comprehension I. Reference Answers to Pre-reading Questions: The novel theory is not that Americans spend too much, but that foreigners save too much. The Chinese have piled up so much excess savings that they lend money to the United States at low rates, underwriting American consumption. [Para 2] In Washington, China was treated as a threat by some people, mostly because it lured away manufacturing jobs. Others argued that China’s heavy lending to this country was risky because Chinese leaders could decide to withdraw money at a moment’s notice, creating a panicky run on the dollar. [Para 15] It refers to the tight financial and trade embrace between the United States and China. [Para 36] China’s fortunes remain tethered to those of the United States. And the reverse is equally true. [Para 57] Section B: Exercises I. Vocabulary Buildup Choose the best equivalent word or phrase from the four choices marked A, B, C and D for each underlined word or phrase in the following sentences. 1. C 2. B 3. C 4. C 5. A 6. D 7. C 8. B 9. C 10. C 11. B 12. D 13. A II. Translation Practice Translate the following paragraph into Chinese. 事后，不少经济学家发表高见，他们说美国应该意识到从国外借钱来垫付国内消费和赤字开销原本就不是什么经济发展的成功之道。然而，即使美国认识到这一点，它还是有可能比以往任何时候要更多地依赖海外债权人来为高记录的政府花销筹资，以使萧条的经济复苏。 这不仅使美国能继续弥补其贸易逆差，而且创造对美国有价债券的大量需求也有助于将其利率降低到采用其他方式应保持的水平之下。（多年来，中国政府热衷于购买低收益的美国国债，而这种低收益在很多私营部门看来是太低了。 III. Text Comprehension Answer the following questions according to the text. In the past decade, China has invested upward of $1 trillion, mostly earnings from manufacturing exports, into American government bonds and government-backed mortgage debt. That has lowered interest rates and helped fuel a historic consumption binge and housing bubble in the United States. [Para 5] China, some economists say, lulled American consumers, and their leaders, into complacency about their spendthrift ways. In hindsight, many economists say, the United States should have recognized