(精选)商务英语综合教程(下册)Unit 15 International Financial System Meets Challenge课件.pptVIP

Unit Fifteen;Introduction; Text ; 1 The lasting turmoil in the international financial market intensified recently. At first, the Asian financial markets were again stricken by the steady devaluation if the Japanese yen throughout the second quarter. Then due to the imbalance of the macro-economy and a decrease in the international oil price, the economies of Russia and other newly-rising market nations deteriorated. The Russian financial crisis, featuring a huge ruble devaluation and stock market slump in August, touched off not only a domestic political crisis and also a chain reaction in global stock markets. Although people still differ about the onset of a global financial crisis, prevention of further financial problems is a matter of urgent concern for the entire international community. ;Reasons for Turmoil 6 Undoubtedly, the Asian and Russian financial crisis mainly stemmed from their economic and social problems. But some defects in the current international financial system also contributed a lot to the continuation and intensity of the crisis. As most people have found, there is no final line of defense as the tide of crisis flows. The significance of Russian financial crisis exposed again the weakness of the international financial system, which has remained for half a century the cornerstone of the international financial order. 7 One of the most important shortcomings of the system is that it lacks an efficient 〝warning〞 mechanism, so that, by this time sufficient attention is paid to the problem, it is already too late. As a result, the best opportunity to restrain the crisis is over.; 8 Second, the traditional “package assistance” offered by some international financial organizations for developed countries, has a limited curative effect. Usually attached with economic, social and political conditions favorable to the west, the aid cannot help solve problems, but rather, turns an economic crisis into a more complicat