英美报刊选读Unit 4 Finance and Economy.ppt

What an economic crisis means to ordinary people? Higher prices of living expenses including those of food, clothing, housing and transportation (Higher inflation rate) Fiercer competition with lower salaries Higher unemployment rate Harder job-hunting even for college graduates Bear Market at stock exchange markets Deepened unequal distribution of wealth– The rich get richer and the poor poorer. Higher potential of social instability and upheaval Part I Introduction (Para.1) What: a “summit meeting” When: on “Thursday” Who: leaders of “the world’s top 20 economic powers” Why: “the global economy imploding” For what: “to fix the global financial system and restore growth” Editors’ comments: “They fell short” Part II (Para.2) Major achievements of this summit meeting The leaders pledged to a. fight protectionism b. help developing countries—1 trillion for loans and trade guarantee c. crack down on tax heavens d. impose stricter financial regulations on hedge funds and rating agencies Editors’ comments: “more than usual” “ necessary though insufficient” Part II (Para.2) Major achievements of the summit meeting Part III (Para.3-Para.8) The places “where they fell dangerously short” 1. (Para. 3-6) Disagreement about stimulus spending/ additional fiscal stimulus --The Europeans leaders: refusing deficit spending not giving in --The U.S. President: warning not to count on American consumers alone -- Editors’ comments: being relieved, but not the time or the issue on which to hold back taking on the fight (against the Europeans) 2. (Para. 7) Disagreement about the idea of financial regulations and that of a global regulator: -- The European leaders: comprehensive cro