独家权威震撼发布：张中宁主编《最新西方报刊经贸文章选读》课后作业答案Lesson06.doc

KEY TO EXERCISESSection A: Text ComprehensionI. Reference Answers to Pre-reading Questions:1. According to the author, most obviously, the Chinese interest in the region is pragmatic rather than ideological. The goal is to further economic growth at home by opening new markets and guaranteeing a supply of necessary inputs. Para 1.32. The main tool Beijing is deploying in the region is China Development Banks massive pile of U.S. dollar reserves. Para 1.73. The phrase “to be in the drivers seat” means “to be in control”. China would seem to be in the drivers seatyet it has had to offer loans at preferential rates and 20-year terms in order to secure guaranteed supplies of oil and other commodities at market prices. Para 1.84. It shows, in the United States some Americans worry that Chinas growing economic weight poses a political threat. Para 2.65. Brazil, Chile and Peru, etc. have gained. Para 2.12 6. Chinese officials insist that their closer relations with Latin America are driven by two things: a shared diplomatic interest in a multipolar world, and mutually beneficial economic and business ties. “Were not seeking special influence. We have reiterated to the United States that our relations with Latin America arent a threat to anyone,” says Qiu Xiaoqi, Chinas ambassador in Braslia. Para 2.21Section B: ExercisesI. Vocabulary BuildupFill in the blanks of the following passage with the appropriate words or phrases listed in the table. Change the form where necessary:1. focused 2. ignoring 3. worst 4. higher 5. competitive6. borrowing 7. farming 8. producers9. suffering 10. facingII. Business Terms1. Give the Chinese equivalents of the following business terms and expressions which would be found in the given paragraphs of the text.41). 股权2). 新兴市场3). 负责，掌管4). 非最大的；非高峰的,非峰值的5). 自由市场6). 主权财富基金7). 特权阶级；既得利益8). 国有控股石油公司9). 互惠外汇信贷10). 缺钱的，缺乏现金的11). 以牙还牙；针锋相对12). 对客户贷款的最高限额2. Give the English Equivalents of the following Business terms and expressions which would be found in the given paragraphs of the text. 1). trade deficit2). trading partner3). market prices4). stock prices5). antidumping suits6). win-win outcome7). debt default8). economic stability9). labour-intensive manufacturing industry10). two-way trade11). free-trade agreementIII. Text ComprehensionAnswer the following questions according to the text.1. Some observers portray Chinas investments in Latin America as a threat in the U.S. backyard. Because they think that Chinese money comes with few strings attached. That naturally tends to undermine the leverage the U.S. has enjoyed as the regions biggest trading partner and investor. Chinas arrival, coinciding with the rise of Mr. Chvez and Bolivian President Evo Morales, makes it more difficult to contain the damage from these populist left-wing governments. Para 1.5 The truth is that the developing trade between China and Latin American countries represents an opportunityif the U.S. plays its cards right. Para 1.2 2. Though commodity prices are well off their peaks, it seems that (Latin American) producers still have leverage because of Chinas seemingly insatiable appetite for minerals and fear that its supply could be disrupted if it relies on the open market. Para 1.83. The authors tone is objective. On the one hand, the author says that Beijings state-directed policy of buying up and securing supplies of commodities may not be so pronounced in a few years time if it turns into a bust. Para 1.9 The author also lists some examples of Chinas misguided investments in the near past, for example, Chinas investment in Blackstone and Morgan Stanley in 2007. This failure, together with the past pain inflicted by high oil and ore prices, may have contributed to the current policy favoring investments in commodities. Para 1.10 Also, the author comments that the more China invests, the greater the risk of an eventual backlash. Certainly competition from Chinese goods has had a much greater effect in Latin America than in the U.S., hurting the textile industries in Brazil, Argentina and Mexico. This has brought a wave of antidumping suits. Para. 11 For all the talk of budding South-South relations, the reality is that developing economies directly compete with each other because their comparative advantages are similar. Para 1.12On the other hand, the author comments, as Chinas footprint expands in the Americas, it may concentrate minds and bring the negotiators back to the table. That would be a win-win outcome for the whole hemisphere. Para 1.144. Chinas arrival coincides with, and is partly a consequence of, two other developments. The first is the relative decline in the economic and political pre-eminence of the United States after its brief moment of unchallenged power at the end of the cold war Para. 18. The second factor is that many Latin American countries have become more self-confident and bent on asserting their diplomatic independence. Both factors apply to Brazil, which under President Luiz Incio Lula da Silva has sought a more powerful role as a regional power of global significance. Para 2.55. Many Latin Americans prefer to see Chinas expanding ties to their region as an opportunity. The region, with Brazil in the lead, is forging “south-south” alliances with China, India, Russia and South Africa to push for changes in what they all see as an unjust world economic order. Para 2.66. The first is whether the industrialisation of China and India is helping or hindering its own economic development. The second is whether growing economic and political ties with non-democratic countries such as China, Russia and Iran could undermine Latin Americas own hard-won commitment to democracy. Para 2.7 7. The pain has been focused in particular countries and specific industries. Although commodity exporters such as Chile, Peru and Brazil have clearly gained, Mexico and Central American countries have fared less well. Para 2.128. For Mexico, one of the regions most industrialised countries, China is a competitor, especially in the American market, in industries ranging from textiles to electronics. Nearly all Brazils shoemaking and toymaking has been wiped out, or has moved to China. Paras 2.12-2.139. Yes. Despite the pains, South Americas new links to China have helped it to ride out the world recession relatively unscathed. Marcelo Carvalho of Morgan Stanley, an investment bank, points out that Chinese demand for commodities seems to have contributed significantly to faster economic growth, a stronger currency, and lower inflation and interest rates in Brazil. Also, China has now become a significant market for countries such as Brazil, Chile and Peru. Para 2.13 10. No. While trade has boomed, Chinese investment in Latin America has hitherto amounted to less than meets the eye. Para 2.1411. While Chinas exports to the region span a wide range of manufactured goods, its imports are highly concentrated in a few commodities (see chart 2) including raw materials and fuel. For example, soyabeans and iron ore account for two-thirds of Brazils exports to China, and crude oil for a further 10%. Para 2.2012. China exports a wide range of manufactured goods, and imports only a few commodities from the region. While trade has boomed, Chinese investment in Latin America has hitherto amounted to less than meets the eye. Chinese investment has so far been overwhelmingly concentrated in mining and oil. Paras 2.14, 2.15The pattern of trade and investment so far reinforces the fear among some Latin Americans that China is causing the region to respecialise in commodities, as it did in the 19th century, to the detriment of industry. Para. 2.20 13. Venezuela under Mr Chvez has sought closer ties not just with China but also with Russia and Iran. During the cold war th