英语四级长篇阅读匹配练习题7

1、2015年英语四级长篇阅读匹配练习题(7)Exorbitant(过分的)PrivilegeA. IN 2012 ICBC，a statecontrolled Chinese company that is the worlds most valuable bank，bought four-fifths of the Argentine subsidiary of Standard Bank，a South African firmThe deA. was hailed as a leap forward for“South-South”co-operationdirect economic t

2、ies between emerging markets(新兴市场)But one group of fich-world middlemen got a slice of the action：lawyersICBC was represented by Linklaters，an English firm，and Standard Bank by Jones Day,an American oneThe deal was made under English law,with any differences to be settled in A.l English arbitration

3、center B.Though emerging markets now account for over hA.f the worlds GDP at purchasing-power parity(购买力平价)，and trade between them is booming，just two developed countries retain a stranglehold on cross-border finance，investment，mergers and acquisitionsJust as America benefits from issuing the worlds

4、 reserve currency,America and its former colonial master,Britain,enjoy the exorbitant privilege of issuing the worlds“reserve law”A global survey by Queen Mary University in London in 2010 of general counsels and legal-department heads found that 40most frequently did business using English law and

5、another 22Americangenerally the law of New York stateNo other countrys lawgot a significant share C.America and Britain reap large rewards from their legal dominanceof the worlds 100 highest-grossing law firms，9 1 have their headquarters in one of the twoAmericas legA. sector is bigger than the GDP

6、of Peru；though much of that is because of Americanslitigiousnessa good chunk comes from foreign workThe New York offices of American firms earn around$18 billion annually from internationaldispute resolutionalmost twothirds of litigants in English commerciA. courts areforeignAt 15the legA. sectors s

7、hare of British GDP is nearly double that in other big European countries D.Other bits of both countrieseconomies feel the ripples(余波)，t00Foreigners visiting for legal hearings stay in hotels and eat in restaurantsAspiring lawyers from around the world pay to attend their universities and spread goo

8、dwill when they go homeDependence on American and British law firms makes it harder for deA.makers to move from New York and London to Hong Kong or FrankfurtBritains government describes lawyers as“central to the export of other professionA. services”such as accounting，asset management and banking E

9、.The competition is often weak：much of Chinas commerciallaw was written by Communist Party officials and is fiddled with errors：and though India adopted much of English common law,its courts are notoriously slowBut the incumbentsbiggest advantage is that they have common.law systems with centuries o

10、f binding precedentThat means they offer as much certainty as any jurisdiction(司法权)canIn civil-law countries such as France，Portugal and Spain，and their ex-colonies，judges have wide latitude to interpret statutes，increasing the risk of nasty legal surprisesCivil systems place more restrictions on ac

11、ceptable clauses，and often consider the interests of third parties，such as workers or consumers F.Many other countries would like to break this duopoly(双头垄断市场)But even those with good laws on Paper would take decades to train enough lawyers and judges to make them stickThe immediate threat to Americ

12、an and British law comes from a trend that dispenses with courts A.togetherParties to a cross-border deal must decide not only which countrys law governs it but how disputes should be resolvedFirms are increasingly opting for private arbitration，which promises confidentiality,speed and lower costs t

13、han going to courtand here London and New York are less dominant G. More recently，new entrants have made inroadsAmong the most Successful is Singapore，whose dedicated arbitration venue(仲裁地点)，SIAC，opened in 199 1Singapores government exempts arbitrators from income tax and expedites entry for partici

14、pants in hearingsSIACs caseload has quadrupled in the past decade，with Indian firms particularly keenLast year they were parties to a third of its 259 new cases H.With 260 new cases last year,Hong Kong matches SIAC for sizeArbitration is essential for cross-border deA.s involving China，since its iud

15、ges rarely enforce foreign court decisions but are bound to uphold arbitration awards by the New York Arbitration Convention，which it signed in 1987In the past，Chinese flrlns reluctantly accepted distant arbitration venuesBut they are increasingly insistingon disputes being heard locallyExorbitant n

16、o more?I.English law remains prevalent in Asian arbitration，accounting for 32of cases at SIACBut a recent trend in South America shows how quickly this could changeOf the big emerging economies，the one mat has most effectively promoted its own law is BrazilIts firms still use thirdparty law,usually

17、New Yorksto raise money and make acquisitions abroadBut foreign firms active in Brazil often acquiesce to local law,relying on localarbitration as an A.ternative to courts that are politicized and glacially slow J.Brazils govemment created a legal framework for arbitration in 1996，which became widel

18、y used after being approved by tlle supreme court in 200 1Nothing prevents firms from using foreign arbitrationbut losers may delay the application of foreign rulings for years(though not for ever)by filing objections in Brazilian courtsIn contrast，domestic arbitration awards in local-law cases are

19、deemedequivA.ent to legal rulings，and implemented on the spot“Theres nothing to fear about having an arbitration in Brazil，”says StephenoSullivan，a former solicitor in England who works for Mattos Filho，a Brazilian firm K.At first sight，the lawyers of Wall Street and the City of London have the most

20、 to lose from the growing popularity of arbitrationTheir goyemments are not helpingIn Britain authorities often fail to provide timely visas for parties，experts or witnessesAs for America，businesses often complain about the burden of pretrial discovery,and the threat of unsophisticated juries or ele

21、cted judges awarding exorbitant damagesIn a recent survey,Hogan Lovells，a law firm whose main offices are in London and Washington，DC，asked general counsels around the world which jurisdiction they found most challengingChina finished second-after America L.In the long run，developing countries may b

22、e bigger losersLocal arbitration may facilitate deals and bolster shortterm growthBut if it reduces the pressure from multinationals and local finns for simpler laws，berer courts and less political corruption，it may delay attempts to establish legal systems that work not just for businesses but for

23、everyone else too 46China and India would be very fragile in the competition because of their wrong commercial laws and inemcient courts 47The exorbitant privilege of issuing worlds“reserve law”make American and Britain the absolute winners in global business resorting to their laws 48On the contrar

24、y，domestic arbitration is considered as legal standards to be adopted immediately 49America and Britain mostly gain profits from their leading role in providing legal rulings 50The lawyers，middlemen of rich world，took a share of spoils in the deal 5 1Local arbitration may bring some facilities in a

25、short time，while it delays the intention for everyone to establish legal systems in the future 52According to a recent survey,Chinese jurisdiction has been the second most challenging one after America 53It is a wise choice for foreign finns in Brazil to accept the locA. arbitration rather than poli

26、ticized and inefficient courts 54It is a tough task to break this duopoly in a short time 55Strongly relying on American and Britain law firms render it difficult for parties to trust other reliable firms，such as Hong Kong and Frankfurt46China and India would be very fragile in the competition becau

27、se of their wrong commercial laws and inefficient courts由于其错误百出的商法和低效率的法庭，中国和印度完全没有竞争力。【解析】 E) 根据题目中同时出现的China，competition和India可以将答案定位在E段的额句首。竞争通常是无力的：中国的多数商法是由中共官员所撰写，并且错误百出，即使印度已经大量引进了英国普通法，他们的法庭是出名的没效率。由此可知本题为此句的句意压缩型同义转换。故选E）47The exorbitant privilege of issuing worlds“reserve law”make American

28、 and Britain the absolute winners in global business resorting to their laws英美可以制定世界“储备法”的过分特权使其在国际贸易中成为绝对的赢家，他们的法律是完成国际贸易的依据。【解析】 B) 题中的exorbitant privilege和reserve law就是该题的题眼，由此答案锁定在B段。美国从发行世界储备货币中受益，因此，他和其起前殖民宗主国英国都在享受着凌驾于世界“储备法”之上的特权。国家贸易多以英美法律为据，这表明该题目为此段落的句意总结。故选B)48On the contrary,domestic arbitration is considered as legal standards to be adopted immediately相反地，国内仲裁被看作是合法的标准，应该立刻被采纳。49America and Britain