商务英语综合教程下册课件房玉靖主编 ISBN9787810789707Unit 15 International Financial System Meets Challenge.pptVIP

Unit Fifteen Introduction There are reasons for the international economic turmoil, which shows the weaknesses in the current international financial system. In order to solve the expanding crisis and guarantee the market stability, some measures have been taken. 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. 15 Third, major stock prices are tending to become reasonable. Policy makers of the involved countries have also changed their attitudes from suppression to support. 16 At the beginning of September, the stock markets in most countries began rebounding again, so the recent fluctuation may be a normal cyclical adjustment rather than the result of a bad economy. In the United States, for example, the decline in its stock market resulted from a deepening relationship of mutual influence and mutual dependence between the US stock market and those of the countries. Therefore, many economists believe the US economy remains powerful and that people should not worry much about stock market fluctuations. Meeting Challenge 17 At present, all government leaders and people from the financial field are considering how to deal with the expanding crisis. While taking measures to stimulate international economic growth,