金融英语技能训练Lecture 14 Asian financial crisis.pdfVIP

Lecture 14 Asian Financial Crisis 亚洲金融危机 Learning Objectives  Expand lecture-topic-related vocabulary  Take effective notes on the lecture  Retell information from notes  Accomplish listening tasks  Write an effective lecture summary  Expand reading into lecture topic  Translate an article into Chinese  Discuss topics related to financial crisis Stage 1 Dictation 1. hedge fund 2. brush fire 3. liquidate 4. baht-denominated assets 5. capital outflow 6. grind to a halt 7. fixed peg 8. managed float 9. battered 10. domino effect 11. plunge 12. lessen 13. devastating 14. afflicted 15. short maturities 16. corporate governance 17. overcapacity 18. overvalued 19. financial infrastructure 20. deteriorate Stage 2 Listening Comprehension 1.What do “Tiger Economies” and “Dragon Economies” refer to in this lecture? 2. Where did the financial crisis start? What was the situation prior to the crisis? 3. What happened to the exchange rates of the afflicted currencies at the end of the crisis? 4. What macro-level effects did the financial crisis have on the crisis economies? 5. Why was huge foreign-currency-denominated borrowing an attributor to the crisis? 6. What was the underlying cause of the Asian financial crisis? Answers to Listening Comprehension 1. “Tiger Economies” refers to Thailand, Malaysia, the Philippines, Malaysia and Indonesia. “Dragon Economies” refer to Singapore, Taiwan, Hong Kong and South Korea. 2. The crisis started in Thailand. Prior to the crisis, Thailand’s economy experienced an annual growth of 9% from 1985 to 1995. Thai firms, banks and finance companies borrowed heavily on the international markets. Capital inflows were directed to real estate and stock markets, causing serious bubbles. Interna