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ID:14919527
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时间:2018-07-31
《义务教育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)》由会员上传分享,免费在线阅读,更多相关内容在教育资源-天天文库。
1、2012高考英语:阅读理解课堂练学案(21)PassageTwenty-one(TheResultoftheFallingUSDollar) Likeatickingtimebomb,thefallingdollarhasgrabbedtheattentionofJapanandWestGermany,forcingthemtoconsideradoptingeconomicpolicestheUnitedStatesadvocates.TheU.S.governmentwantsthedollartofallbecauseasth
2、edollardeclinesinvalueagainsttheyenandDeutschemark,U.S.goodbecomescheaper.U.S.companiesthensellmoreathomeandabroad,andU.S.tradedeficitdeclines.Criesfortradeprotectionabate,andtheglobalfree-tradesystemispreserved. Then,thecheaperdollarmakesitcheaperformanyforeigninvesto
3、rstosnapupU.S.stocks.Thatpromptsheavybuyingfromabroad—especiallyfromJapan.Also,ifthetradepictureisimproving,thatmeansU.S.companieseventuallywillbemorecompetitive.Consequently,manyinvestorsarebuyingsharesofexport-orientedU.S.companiesinanticipationofbetterprofitsinthenex
4、tyearorso.Butthatisaratherfaddishnotionrightnow;ifcorporateearningsaredisappointingininterestrates,thestockmarketrallycouldstall. ImprovingU.S.competitivenessmeansadeclineinanother’scompetitiveness. JapanandWestGermanyarevergingonrecession.Theirexport-orientedeconomie
5、sarefacingmajorproblems.JapanisworriedaboutthedamagethestrongyenwilldotoJapanesetrade.WestGermanyisalsoworried.SharepricesinFrankfurtplummetedthispastweek.Bonnisthoughttobeconsideringacutininterestratestoboostitseconomy. Couldthefallingdollargetoutofhand?Ifthedollarfal
6、lstoofar,investorsmightloseconfidenceinU.S.investments—especiallythegovernmentbondmarket.Themoneytofinance thefederalbudgetandtradedeficitscouldmigrateelsewhere.Inflationcouldflareup,too,sinceJapaneseandGermanmanufacturerswilleventuallypassalongpricehikes—andU.S.compani
7、esmightfollowsuittoincreasetheirprofitmargins.TheU.S.federalReservethenmightneedtostepinandstabilizethedollarbyraisinginterestrates.AndhigherinterestratescouldcausetheU.S.economytoslowdownandendtheWallStreetRally.Worriedaboutthesesideeffects,FederalReservechairmanPaulVo
8、lcherhassaidthedollarhasfallenfarenough.Whatistheequilibriumlevel?Probablynearwhereitisorslightlylower.Itallde
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