时文推荐要求和模板.doc

分组时文推荐要求请按分组表格中各组规定的期刊和时间段选择金融类的本组感兴趣的文章。长度在1,000 - 2,000字为佳，太少（如800字）过于简单，学不到什么知识；太多（如3,000字）则讨论过深。一篇一千多字的文章可配以中文300字以内的“推荐理由”（置于文章前，例见模板）和若干详细尾注，思考讨论的问题则放到最后，最好配以参考答案。 文章如果牵涉很多背景知识，可根据需要配上一篇作为背景介绍的三、五百字英文短文（背景短文无需注释）。请大家在将网上文字复制粘贴到word文档中时，不要保留原格式。选择“只保留文本”，然后自己花点时间按下面的基本要求编辑。格式问题直接影响分数。交成品纸质版本一份给老师。 下面用两篇以前同学的推荐文章做个格式的模板，请大家参考，格式以此为准。第一篇不够长，注释不多，且有省略，大家在实际操作中的注释量应该更多更具体。第二篇较佳。有问题请及时打电话给老师。辛苦大家了！C0G0 Group Members: Jane Doe（40000000） John Doe（40000000）C1G1为1-2节第一组，C2G1为3-4节第一组，以此类推。组员姓名学号也请全部列出。推荐理由： 过去一周，越南盾贬值，阿联酋国有的迪拜世界(Dubai World)公司宣布暂停偿债，新兴市场股票等风险资产再度遭到抛售。资金向美元市场回流，美元汇率也从近16月的低点反弹。当美元被当作其它风险资产的避险天堂时，市场是否忽略了美元自身的安全问题？本文正是以一种理性的思维为我们敲响了警钟：美元弱势或许是不可避免的，我们必须为此做出充分的准备。人民币是否借此契机登上国际舞台，大家也可大胆预测。自己创作几百字的推荐理由，告诉大家为什么选了这篇文章。可以详细点、发散点、另类点。 We Must Get Ready for a Weak-dollar World标题三号，黑体，居中，实词大写。若文中有小标题，四号，黑体，斜体November 30 2009 From Financial Times五号，期刊名斜体Whatever happens in US, the crisis is now global导语部分可算正文第一段，如果不算，请斜体1.The每段前加序号，序号和第一个单词间是一个Tab的距离；正文小四，不要黑体，两端对齐。全文字体Times New Roman，单倍行距 two most significant structural consequences of the recent financial debacle1文中术语、知识点请用尾注格式 （点击插入引用尾注， 即可统一自动在文章后生成，序号也不会错），内容自己输入进去即可。需注释的原文文字请用下划线，黑体 are the massive deficits and debts of the US and the shift of economic power from west to east. There is only one effective way for governments to address the combined impact of both: press for a sea change in currency relationships, especially a permanently and greatly weakened dollar. 空行段间空一行2.The roots of this situation are well known. The American budget deficit 2 of this past fiscal year reached 10 per cent of gross domestic product, the largest since the aftermath of the second world war. Meanwhile, the net external debt of the US nearly tripled last year to $3,500bn and it is projected to increase by nearly $1,000bn every year for the next decade. All this underestimates the problems of a country where unfunded liabilities for baby boomer entitlements are in the stratospherep1若觉得文中句子、段落是难点，可用黄色填充文字（此处看不出颜色，请参考下一段的黄色背景部分），用p1,p2做上标，在最后提出问题，并给出参考答案。有的问题很难，可给出本组试想的答案或建议，不一定会正确，但可以抛砖引玉，课堂上让大家一起讨论思考, infrastructure deterioration is scandalous and many large states are out of money. To close the gaps, taxes would have to be raised to sky-high levels and spending brutally slashed. It would take a miracle if Americas political system one rife with vicious partisanship（恶性党派对立）非术语但影响理解的词汇直接用小五，宋体，加粗，括号注解 and riddled with well-financed special interests could do either, let alone both. 3.Washington will therefore have little choice but to take the time-honored course for big-time debtorsp2: print more dollars, devalue the currency and service debt in ever cheaper greenbacks3. In other words, the US will have to camouflage a slow-motion default4 because politically it is the easiest way out.4.There is another factor pushing America towards a weaker dollar: lacking the domestic consumer demand that came with the unrestrained credit5 of the past 15 years, the US is desperate to find buyers abroad, especially in emerging markets where the middle class is growing and infrastructure requirements are soaring. A cheaper dollar could make US products and services more competitive. 5.Meanwhile, in the coming decade, the big emerging markets of Asia will be growing twice as fast as the US and three times faster than the European Union. By 2020, China, India, Indonesia, Korea and Vietnam together could generate more wealth than the US, Japan and the EU combined. China, India, and South Korea have all been amassing dollar reserves and will be looking to reduce them. While imports into leading industrial countries have slowed, intra-Asian trade is booming and need not be financed only in dollars. The bottom line6: Asian currencies are likely to strengthen against the dollar.6.A much cheaper dollar is a sad development for the US, even though it is inevitable. It will make the US poorer, since Americans will pay higher prices for everything they buy from abroad clothes, computers, cars, toys, food, you name it. It will make the US military presence abroad more expensive, since the cost of contractors and local suppliers will escalate in dollar terms. It will slow imports, removing competition that is essential to hold down the general price level in America, thereby making inflation more likely. It will send the wrong price signals for a country that prides itself on creating sophisticated, highly valuable products, for a low dollar will encourage producers to compete on price more than qualityp3. It will diminish the political influence and prestige that the US has had while the dollar has been king. 7.Moreover, the US dollar has been at the heart of the global economy for well over half a century. Its demise, if not smooth and gradual hardly certain could lead to an era of competitive devaluations7 and other mercantilist trade policies8. 8.An alternative to a global monetary system that has been centered on the dollar is now imperative. That means a multi-currency framework including the euro, the yen, the renminbi and significant issuance of an IMF-backed currency called “special drawing rights” 9. This regime will take time to devise, but it should start now.9.That is why Tim Geithner, US Treasury secretary, should invite his colleagues in the UK, eurozone, Japan and China to meet secretly, perhaps between Christmas and New Year, to start discussions out of the public spotlight (to avoid spooking markets). The big question: what kind of monetary system will best serve the world given deep-seated（深层次）changes in the balance of economic power, and what process can be followed to develop it? 10.Since the late 1980s I have believed that a strong dollar was in the US and world interest. Now, however, the context has fundamentally changed. The issue is no longer whether the dollar is in long-term decline but which of two options will be taken. Should Washington and other capitals calmly and deliberately manage the transition to a new era, or, by default, should they let the market do it, with the risk of massive financial disturbances? Today, governments have a choice. Soon they may not. (810 words)请统计正文字数，至少应有1,000字 Notes：1 financial debacle：金融崩溃。2美国2008年的财政赤字为175万亿美元。（以下介绍美国国债和财政赤字历年情况，略）3 greenback：美钞。（以下回溯林肯绿币和法币fiat money历史，略）4 slow-motion default：“slow-motion” 慢动作，慢镜头。在此指美国通过印制美钞然后用贬值的美元还款也是一种违约，只是比较隐蔽，不易被意识到。5 unrestrained credit：无节制的信贷。（以下为美国和中国的信贷状况，略）6 bottom line：概要，此处意为“归根结底”。 会计中常指企业的财务状况，也可指最低价格。（此处有几个会计的例句，略）7 competitive devaluations：竞争性贬值，在此指货币贬值。竞争性货币贬值是指各国政府通过使自己国家货币贬值的方式来促进商品的出口。据八国集团的声明草案显示，全球最大发达国家和新兴市场国家的领导人日前达成一致，同意避免采取贬值本国货币的方式来促进出口，原因是这种方式会对其他国家的利益造成损害。（以下举出一个竞争性货币贬值的实例，略）8 mercantilist trade policies：重商主义的贸易政策，重商主义是十八世纪在欧洲受欢迎的政治经济体制。它建立在这样的信念上：即一国的国力基于通过贸易的顺差即出口额大于进口额所能获得的财富。9 special drawing rights：特别提款权。国际货币基金组织创设的一种储备资产和记账单位，亦称“纸黄金(Paper Gold)”。它是基金组织分配给会员国的一种使用资金的权利。会员国在发生国际收支逆差时，可用它向基金组织指定的其他会员国换取外汇，以偿付国际收支逆差或偿还基金组织的贷款，还可与黄金、自由兑换货币一样充当国际储备。但由于其只是一种记帐单位，不是真正货币，使用时必须先换成其他货币，不能直接用于贸易或非贸易的支付。因为它是国际货币基金组织原有的普通提款权以外的一种补充，所以称为特别提款权（SDR）。（还介绍了ODR以及中国国际储备情况，略）Problems:(1) “unfunded liabilities for baby boomer entitlements are in the stratosphere”如何理解？答案略(2) big-time debtors和与之对应的small-time debtors 的经济学解释。答案略(3) “for a low dollar will encourage producers to compete on price more than quality” 如何理解？为何美元贬值后会激励生产者更多的注重价格的竞争？答案略C1G1 推荐理由：过去几周，美国反华尔街事件愈演愈烈。参议院也出台了惩罚货币操纵国法案，将国内矛盾“转移”。是华尔街伤人的贪婪腐败、金融制度偏袒权贵产生金融海啸以及高的失业率还是人民币汇率低导致美国处于逆差产生高失业率？本文表达了多方对于次法案的立场。该法案是否能过正式通过，对于中美贸易问题影响，我们不得不有所准备。此文章字数适中，较为简单，且大部分同学在过去对相关内容已经有所了解。适合刚开始接触时文阅读的同学学习。Senate Moves to Punish China for Yuans Low ValueOctober 4 2011From WSJ1.WASHINGTONThe Senate Senate: 参议院。是美国的立法部门，美国国会两院之一。两院由众议院和参议院组成，美国法律都要通过两院审核才能实施。 voted Monday to move ahead with a bill（法案）that would punish China for keeping the value of its currency low, drawing a harsh（严酷的） response from Beijing, which said the measure would severely hurt trade ties.2.The bill, which lets lawmakers deflect（偏斜） some of the blame for the sour U.S. economy on another country, advanced in the Democratic（民主党）-controlled Senate with a strong bipartisan vote of 79-19.p1 But it has uncertain chances in the Republican（共和党）-controlled House. Supporters complain that Chinas yuan is undervalued, making its products cheaper on world markets. They say a higher yuan would boost（促进）U.S. exports and create thousands of American jobs. Opponents say the measure would accomplish little besides infuriating（激怒） China, and that the U.S.-Chinese relationship faces far bigger issues.3.The Peoples Bank of China said Tuesday that factoring in inflation, the yuan has appreciated greatly and is close to a balanced level. Chinas Foreign Ministry said the bill violates rules of the World Trade Organization WTO：世界贸易组织。1994年4月15日在摩洛哥的马拉喀什市举行的关贸总协定乌拉圭回合部长会议决定成立更具全球性的世界贸易组织（简称“世贸组织”，World Trade Organization WTO），以取代成立于1947年的关贸总协定（GATT）。 and that its passage would severely affect U.S.-China economic and trade relations.4.A spokesman for Chinas Commerce Ministry said China is deeply concerned over the bill. Shen Danyang said in a statement Tuesday that one big reason for the U.S trade deficit with China is U.S. export controls on certain high-tech products to China, and called on the U.S. to improve the situation. Forcing yuan appreciation cant resolve the trade imbalance between the two countries or help reduce U.S. unemployment, he said. P25.The Senate vote puts the White House in a delicate position. Like previous administrations, the Obama White House is wary of（担心） antagonizing（使敌对） Chinese leaders, whose cooperation it needs not just on economic issues but also on an array of（大量，一批） national security matters. But criticizing China remains popular with the public, and many Democrats, including those from big industrial states, say Chinas currency policy is unfair to U.S. workers.6.They use the rules of free trade free trade: 自由贸易. 指政府不采用关税、配额或其他形式来干预国际贸易的政策。 自由贸易（Free Trade）是指国家取消对进出口贸易的限制和障碍，取消本国进出口商品各种优待和特权，对进出口商品不加干涉和限制，使商品自由进出口，在国内市场上自由竞争的贸易政策。它是“保护贸易”的对称。这并不意味着完全放弃对进出口贸易的管理和关税制度，而是根据外贸法规即有关贸易条约与协定，使国内外产品在市场上处于平等地位，展开自由竞争与交易，在关税制度上，只是不采用保护关税，但为了增加财政收入，仍可征收财政关税。 when it benefits them, and spurn(唾弃，一脚踢开) the rules of free trade when it benefits them, said Sen. Charles Schumer, a major sponsor of the bill. For years and years and years, Americans have grimaced（做苦脸）, shrugged（耸肩） their shoulders, but never done anything effective to stop these policies.7.Opponents of the bill say that instead of potentially sparking a trade war, the U.S. should face its own problems, such as the burgeoning federal budget deficit the burgeoning federal budget deficit: 超党派的美国国会预算处（Congressional Budget Office）于2011年10月8日宣称，美国政府本会计年度的预算赤字达1.3兆美元，相当于国内生产毛额（GDP）的8.6%。2010年预算赤字也是1.3兆美元，不过去年赤字占GDP比例是8.9%。2009会计年度，预算赤字占美国GDP比例为10%。burgeoning: adj. 增长迅速的；生机勃勃的. Its like we know what weve got to do but we wont do it, said Sen. Bob Corker (R., Tenn.). Its like weve got to find a bogeyman.8.Because House leaders are reluctant to bring up the bill, its future is uncertain. The House overwhelmingly（不可抵挡的） passed a similar bill in September 2010 a similar bill in September 2010: 美国众议院当时将通过就人民币更快升值问题向中国政府施压的法案。人民币汇率问题让中美贸易及就业的争端更趋严重。该法案认定中国的汇率政策是一种补贴形式，法案的通过，将为美国对自中国进口商品征收额外关税打开大门，其中部分中国输美产品已经被征收特别关税。, when Democrats controlled the chamber（议会）, but GOP GOP: 大佬党，美国共和党的别称. 美国共和党（Republican Party），又常被简称为GOP大老党（美国共和党的别称）（Grand Old Party），是美国当代的两大主要政党之一，1854年创党以来，共和党在38届总统选举中赢得了23届。共和党创立于1854年7月6日，结合了当时反对奴隶制度扩张的政治势力。在现代政治中，共和党则被视为是社会保守主义和经济古典自由主义的政党。前任美国总统乔治沃克布什也是共和党籍。 leaders argue today that the new bill could have unintended consequences.p39.House Majority Leader Eric Cantor (R.,Va.) dodged（避开）questions about the legislation Monday, shifting the focus to the White House. Im curious as to where the administration is, Mr. Cantor said. If there are unfair trade practices going on, we should look to our trade representative in the administration to address（处理） those.10.The administration is saying little. We share the goal that it represents, which is to achieve further appreciation of Chinas currency, said White House spokesman Jay Carney. But, he added, its important that as we pursue that goal, we do so in a way that is . both effective and consistent with our international obligations.11.Supporters hope political pressure will persuade House leaders to put the bill to a vote. In a reflection of the issues potency（力量）, at least two Republican presidential candidates, Mitt Romney and Jon Huntsman, have come out in favor of punishing China for its currency policies currency policies of China: 具有中国特色的稳健的货币政策(Prudent monetary policy)是1998年以后逐渐形成的。所谓稳健的货币政策，其含义是指：以币值稳定为目标，正确处理防范金融风险与支持经济增长的关系，在提高贷款质量的前提下，保持货币供应量适度增长，支持国民经济持续快速健康发展。.12.I hope the Senate vote today will wake up the administration. I hope the Senate vote today will wake up the House, Sen. Lindsey Graham (R., S.C.), who supported the bill, said after the vote. Get off the sidelines（边线）.（此处意为“不再作壁上观”） 13.Adding to the pressure, free-trade deals free-trade deal：自由贸易协定。美国总统奥巴马(Barack Obama)2011年10月3日向国会提交了美国与韩国、哥伦比亚和巴拿马的自由贸易协定，敦促国会议员尽快通过这些协定，不要拖延。现在距离这些贸易协定在布什(Bush)政府任期内被首次提出已经过去了四年多的时间。这些协定已经过修改，从而让民主党更容易接受，并从创造就业的角度进行了完善。奥巴马向国会提交协定后发布声明称，为了完善这些协定，政府付出了极大的努力，尽力为美国工人和企业争取最好的条款。他呼吁国会尽快批准这些协定。 with Panama, South Korea and Colombia are coming before the Senate soon. Critics of the pacts say they will hurt American workers, and lawmakers who support the China currency bill may find it easier to vote for the trade deals.14.The Senate bill would let the U.S. impose tariffs within 90 days on another country if the Treasury Department（财政部） finds that its currency is misaligned Misaligned: 方向偏离的。此处即指他们认为货币汇率不合意。. That is a less rigorous（严格的） standard than existing law, which requires a finding of intentional manipulation.15.Many economists agree that Chinas decision to keep the yuan artificially low makes it harder for U.S.-based manufacturers, who buy their goods and pay their workers in dollars, to compete with Chinese rivals. But the actual impact on the U.S. economy is much disputed（有争议的）.16.The International Monetary Fund The International Monetary Fund: 国际货币基金组织. 国际货币基金组织（英语：International Monetary Fund，简称：IMF）于1945年12月27日成立，与世界银行并列为世界两大金融机构之一，其职责是监察货币汇率和各国贸易情况、提供技术和资金协助，确保全球金融制度运作正常；其总部设在华盛顿。我们常听到的“特别提款权”就是该组织于1969年创设的。 calls Chinas currency substantially（实质上，大体上） undervalued, but the exact amount is hard to pinpoint（精确描述）. The labor-backed Economic Policy Institute Economic Policy Institute：美国经济政策研究所。 found recently that the U.S. trade deficit with China killed（使消失） 2.8 million jobs between 2001 and 2010, but some challenge that finding. A St. Louis Federal Reserve St. Louis Federal Reserve: 圣路易斯联邦储备银行，1914年成立。 第八联邦储备区总部在圣路易斯（圣路易斯是美国密苏里州东部大城市。曾于1904年举办过第三届夏季奥林匹克运动会。市内人口:356,837，都会区人口为：2,803,707，为美国第十八大城市区。位于美国最长的密西西比河中游河畔，美国大陆本土的中央，几乎处于美国的几何中心，在地理位置上具有重要的战略意义。），在小石城（美国阿肯色州首府和最大城市、河港，也是普拉斯基县的县府所在地。位于阿肯色河南岸。人口大约18万4564人（2005年），小石城和北小石城是包括六县的小石城-北小石城都会统计区(MSA)里的主要城市，根据2005年估计整个地区共有人口64万3272人。有阿肯色大学（1927年建）等高等学校。）、路易斯维尔（路易斯维尔(Louisville)美国肯塔基州的最大城市，位于肯塔基州中北部，与印第安纳州只有一河之隔，为俄亥俄河南岸的主要港口城市。该市由乔治克拉克建立于1778年，并得名于法国国王路易十六。路易斯维尔以三冠赛的首场肯塔基打比大赛而著名。）、孟菲斯（美国田纳西州最大城市，密西西比河河港。创建于1819年，总面积763.4平方公里，根据2006年的人口预估，孟菲斯的总人口为68万人，约48%是黑人。在美国东南部排名第二、次于佛罗里达州杰克逊维尔，也是全美国第17大城市。自1541年西班牙人至此并发现密西西比河后，成为向内陆探险的根据地。1698年法国人建要塞，后归西班牙。1797年为美国领地， 1826年建镇，1849年建市。19世纪前半期周围经营棉花种植园，成为棉花和奴隶的交易大市场。孟菲斯都会区是田纳西州次于纳什维尔都会区的第二大都会区，包含在临近密西西比州和阿肯色州的部分地区，总人口为126万人。孟菲斯位于密西西比河岸边、下契卡索陡岸(Chickasaw Bluff)上，狼河(Wolf River)的河口。孟菲斯是美国重要的交通枢纽和运输业中心，该市拥有世界上最繁忙的货运机场，是美国联邦快递公司总部所在地，也是主要制造业的中心,以发展纺织、取暖设备、钢琴、汽车零部件为主。铁路、公路、航空交通枢纽，农畜产品的大集散地，尤以棉花、棉籽油、硬木的大市场著名。从1931年起，每年5月举行棉花狂欢节。）均设有分支机构。该地区包括所有阿肯色州和部分其他州:密苏里州、密西西比州、田纳西州、肯塔基州、印地安那州和伊利诺斯州。圣路易斯联邦储备银行的服务大部分在东密苏里州和伊利诺斯州南部。看地图： study says a Chinese currency appreciation wouldnt produce U.S. jobs to any meaningful degree, because a lot of the production work would shift elsewhere in Asia.17.China has faced pressure for years to let the value of its currency rise. When the pressure heats up, the country usually boosts the value of the currency somewhat, including over the last few days. But with the global economy slowing, the Chinese central bank is bound to come under domestic pressure to slow the already moderate（稳健的） pace of currency appreciation. China also faces a leadership change next year, and it is unlikely that top Beijing officials, while jockeying（耍手段图谋） for new jobs, would back a faster appreciation, which would be seen as helping the U.S. at the expense of（以为代价）China.p418.The legislation would also let individual industries petition（请求）the Commerce DepartmentCommerce Department ：美国商务部。1913年成立，职责是促进美国国内和对外贸易。具体任务包括：经济数据的统计和公布、进出口商品的管制、国外直接投资和外国人旅游事物的管理、进行各种经济调查以及社会调查、专利管理等。 for tariffs on their competitors products. As it now stands, a countrys currency policies are considered too general a factor to warrant（担保） tariffs on specific goods.19. Many business leaders, especially from global firms, are against the bill, and the U.S. Chamber of Commerce The United States Chamber of Commerce (USCC) 美国商会是一个代表美国众多商业贸易的院外组织，不隶属于美国政府部门。它聘用众多政策专家，说客，律师。尽管美国商会被认为是一个较为保守的组织，但它同时支持来自两个政党的候选者。美国商会是美国最大的院外集团之一，同时它每年的支出超过其他的院外集团。 last week sent a letter to Senate leaders saying it would be counterproductive（使达不到预期目的的）. But that position is not unanimous（无异议的）among businesses. Members of the National Association of Manufacturers The National Association of Manufacturers: (NAM)全国制造商协会：在华盛顿设立总部，并在全国有10个分部的呼吁团体。它是美国最大的工业贸易组织，代表了50多个州的各个生产领域大中小型制造商的利益。Problems:(1) “The bill, which lets lawmakers deflect some of