商英阅读答案_王关富_1-14单元

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1、Unit1WhyChinaWorksExercises1.Answerthequestionsonthetext:1)HowdoestheauthorviewtheChineseeconomy?Itisthemostimportantbrightspotintheworldeconomyundertheglobalrecession,theonlymajoreconomythatislikelytoshowsignificantgrowththisyear,andtheonlyonethatroutinelybreakseveryrule

2、intheeconomictextbook.2)Accordingtotheauthor,whycantheChineseeconomyperformsowell?Becauseof:(1)thecapacityforstatecontrolbytheChinesegovernment.(2)itsrejectionofexoticfinancialinnovationsthatarethemeltingcoreoftheglobalcreditcrisis.(3)theintegrationofitseconomicpoliciesbe

3、tweentraditionalmarkettoolsandstatecontrolmeasures.3)Inwhatwaydoestheauthorimplythatwesterneconomistsareerroneousintheirbiastoward“China’smarketeconomicsystem”?TheUnitedStatesandEuropearemovingtowardstatecontrolbynationalizingtheirbankingandcarindustries,andimposingheavyn

4、ewregulationonthefinancialindustry.4)WhatistheviewofStephenRoachontheChineseeconomysystem?InvestmentisthebackboneofsustainablegrowthintheChineseeconomy,whichworksmoreeffectivelythanothermarketbasedsystemsintimesofeconomicstress.5)WhycanChinaworkintheeyeoftheauthor?Ithasfo

5、llowedaradicalpragmatismfocusingonaslowbutsteadyshifttowardfreermarkets.6)WhatisregardedasthestrategicthinkingoftheChineseleadersinmarketreforms?TheyunderstandevenundertheseriousfinancialcrisisthatitcanstabilizetheChinesemarketandeconomytointroducemoresophisticatedformsof

6、securitization,includingstockindexfunds,corporatebondsandotherdebtproducts.Theyalsorealizethat,inthecourseofdoingthis,theyshouldlearnfromthemistakesthewesternershavemade.7)WhatistheexamplegiventoillustratethesteadinessoftheChineseleadersintheirpolicyexecution?Theycontinue

7、toallowthevalueofyuantorisedespiteoftheAmericanchargesandtheneedforexportcompetitivenessbytheirownenterprises.8)Whatis“shocktherapy”?ItistheeconomicpolicyadoptedinRussiafrom1991to1992thattotallyderegulatedpricesandleadtoarunawayinflation.Itprovedtobeallshockandnotherapy.9

8、)InwhatwaysdoestheChineseeconomicsystemworkefficiently?Itcangetthingsdonequickly,moveinacoherent