高考英语阅读理解强化训练11（含重难点详解）

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1、PassageOneTheResultoftheFallingUSDollarLikeatickingtimebomb,thefallingdollarhasgrabbedtheattentionofJapanandWestGermany,forcingthemtoconsideradoptingeconomicpolicestheUnitedStatesadvocates.TheU.S.governmentwantsthedollartofallbecauseasthedollardeclinesinvalueaga

2、insttheyenandDeutschemark,U.S.goodbecomescheaper.U.S.companiesthensellmoreathomeandabroad,andU.S.tradedeficitdeclines.Criesfortradeprotectionabate,andtheglobalfree-tradesystemispreserved.Then,thecheaperdollarmakesitcheaperformanyforeigninvestorstosnapupU.S.stock

3、s.Thatpromptsheavybuyingfromabroad—especiallyfromJapan.Also,ifthetradepictureisimproving,thatmeansU.S.companieseventuallywillbemorecompetitive.Consequently,manyinvestorsarebuyingsharesofexport-orientedU.S.companiesinanticipationofbetterprofitsinthenextyearorso.B

4、utthatisaratherfaddishnotionrightnow;ifcorporateearningsaredisappointingininterestrates,thestockmarketrallycouldstall.ImprovingU.S.competitivenessmeansadeclineinanother’scompetitiveness.JapanandWestGermanyarevergingonrecession.Theirexport-orientedeconomiesarefac

5、ingmajorproblems.JapanisworriedaboutthedamagethestrongyenwilldotoJapanesetrade.WestGermanyisalsoworried.SharepricesinFrankfurtplummetedthispastweek.Bonnisthoughttobeconsideringacutininterestratestoboostitseconomy.Couldthefallingdollargetoutofhand?Ifthedollarfall

6、stoofar,investorsmightloseconfidenceinU.S.investments—especiallythegovernmentbondmarket.Themoneytofinancethefederalbudgetandtradedeficitscouldmigrateelsewhere.Inflationcouldflareup,too,sinceJapaneseandGermanmanufacturerswilleventuallypassalongpricehikes—andU.S.c

7、ompaniesmightfollowsuittoincreasetheirprofitmargins.TheU.S.federalReservethenmightneedtostepinandstabilizethedollarbyraisinginterestrates.AndhigherinterestratescouldcausetheU.S.economytoslowdownandendtheWallStreetRally.Worriedaboutthesesideeffects,FederalReserve

8、chairmanPaulVolcherhassaidthedollarhasfallenfarenough.Whatistheequilibriumlevel?Probablynearwhereitisorslightlylower.ItalldependsonwhentheU.S.tradedeficitturnsaroundo