Unit 12 Financial Markets.docVIP

Unit 12 Financial Markets Function of Financial Markets Function of Financial Markets金融市场的功能 Financial markets perform the essential economic function of channeling funds from people who have saved surplus funds by spending less than their income to people who have a shortage of funds because they wish to spend more than their income. Channel: n. (首先，复习一下这个词我们已知的含义) 1.电台，电视台的频道；We watched the news on Channel 2. 我们看了第2频道的电视； 2. 海峡：the English Channel 英吉利海峡 v. to control or direct sth such as money or energy towards a particular purpose. 把钱或精力等导向某一个特定的目的，引导。 （在这篇文章中，channel 是一个动词，意思是引导，导向。这句话告诉我们金融市场履行的基本经济职能the essential economic function是channeling funds from people who have saved surplus funds从那些有赢余资金的人那里把资金引导到to people who have a shortage of funds 资金短缺的人那里，那么有资金赢余的人是如何获得资金的呢by spending less than their income 通过支出少于收入；那么需要资金的人得到资金后做什么呢they wish to spend more than their income 他们希望支出的要比收入的要多些。） 金融市场履行的基本经济功能是，从那些由于支出少于收入而积蓄了盈余资金的人那里把资金引导到那些由于希望支出超过收入而资金短缺的人那里。 Those who have saved and are lending funds are called the lender-savers, and those who must borrow funds to finance their spending are called the borrower-spenders. The principal lender savers are households, but business enterprises and the government (particularly state and local government), as well as foreigners and their governments, sometimes also find themselves with excess funds and also lend them out. The most important borrower spenders are businesses and the government (particularly the federal government), but households and foreigners also borrow to finance their purchases of cars, furniture, and houses. Those who have saved and are lending funds are called the lender-savers, and those who must borrow funds to finance their spending are called the borrower-spenders.那些有储蓄并贷放资金的人，被称为贷款—储蓄者，那些必须借取资金来支付其支出的人，被称为借款一支出者。The principal lender savers are households, but business enterprises and the government (particularly state and local government), as well as foreigners and their go