六级新题型写作训练.docVIP

Five Problems Financial Reform Doesn’t Fix 　　[A] The legislation concerning financial reform focuses on helping regulators detect and defuse (减少 的危险性)the next crisis. But it doesn’t address many of the underlying conditions that can cause problems. 　　[B ] The legislation gives regulators the power to oversee shadow banks and take failing firms apart? convenes a council of superregulators to watch the megafirms that pose a risk to the full financial system, and much else. 　　[C] But the bill does more to help regulators detect the next financial crisis than to actually stop it from happening. In that way, it’s like the difference between improving public health and improving medicine: The bill focuses on helping the doctors who figure out when you’re sick and how to get you better rather than on the conditions (sewer systems and air quality and hygiene standards and so on) that contribute to whether you get sick in the first place. 　　[D] That is to say, many of the weaknesses and imbalances that led to the financial crisis will survive our regulatory response, and it’s important to keep that in mind. So here are five we still have to watch out for: 　　1. The Global Glut (供过于求)of Savings 　　[E] “One of the leading indicators of a financial crisis is when you have a sustained surge in money flowing into the country which makes borrowing cheaper and easier,” says Harvard economist Kenneth Rogoff. Our crisis was no different: Between 1987 and 1999, our current account deficit—the measure of how much money is coming in versus going out—fluctuated between 1 and 2 percent of gross domestic product. By 2006, it had hit 6 percent. [F] The sharp rise was driven by emerging economies with lots of growth and few investment opportunities—think China—funneling their money to developed economies with less growth and lots of investment opportunities. But we’ve gotten out of the crisis without fixing it. China is still growing fast, exporting faster, and sending the money over to US.