高中英语导学案与练习2012高考英语阅读理解课堂练学案（21）_设计

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1、2012高考英语：阅读理解课堂练学案（21）PassageTwenty-one(TheResultoftheFallingUSDollar)  Likeatickingtimebomb,thefallingdollarhasgrabbedtheattentionofJapanandWestGermany,forcingthemtoconsideradoptingeconomicpolicestheUnitedStatesadvocates.TheU.S.governmentwantsthedollartofallbecauseasthedollardeclinesinvalu

2、eagainsttheyenandDeutschemark,U.S.goodbecomescheaper.U.S.companiesthensellmoreathomeandabroad,andU.S.tradedeficitdeclines.Criesfortradeprotectionabate,andtheglobalfree-tradesystemispreserved.  Then,thecheaperdollarmakesitcheaperformanyforeigninvestorstosnapupU.S.stocks.Thatpromptsheavybuyin

3、gfromabroad—especiallyfromJapan.Also,ifthetradepictureisimproving,thatmeansU.S.companieseventuallywillbemorecompetitive.Consequently,manyinvestorsarebuyingsharesofexport-orientedU.S.companiesinanticipationofbetterprofitsinthenextyearorso.Butthatisaratherfaddishnotionrightnow;ifcorporateearn

4、ingsaredisappointingininterestrates,thestockmarketrallycouldstall.  ImprovingU.S.competitivenessmeansadeclineinanother’scompetitiveness.  JapanandWestGermanyarevergingonrecession.Theirexport-orientedeconomiesarefacingmajorproblems.JapanisworriedaboutthedamagethestrongyenwilldotoJapanesetrad

5、e.WestGermanyisalsoworried.SharepricesinFrankfurtplummetedthispastweek.Bonnisthoughttobeconsideringacutininterestratestoboostitseconomy.  Couldthefallingdollargetoutofhand?Ifthedollarfallstoofar,investorsmightloseconfidenceinU.S.investments—especiallythegovernmentbondmarket.Themoneytofinanc

6、e thefederalbudgetandtradedeficitscouldmigrateelsewhere.Inflationcouldflareup,too,sinceJapaneseandGermanmanufacturerswilleventuallypassalongpricehikes—andU.S.companiesmightfollowsuittoincreasetheirprofitmargins.TheU.S.federalReservethenmightneedtostepinandstabilizethedollarbyraisinginterest

7、rates.AndhigherinterestratescouldcausetheU.S.economytoslowdownandendtheWallStreetRally.Worriedaboutthesesideeffects,FederalReservechairmanPaulVolcherhassaidthedollarhasfallenfarenough.Whatistheequilibriumlevel?Probablynearwhereitisorslightlylower.Itallde