VOA慢速英语2012 Economics Report - US-China Meeting Starts With Call for Fair Exchange Rate

 

Economics Report - US-China Meeting Starts With Call for Fair Exchange Rate

This is the VOA Special English Economics Report.

American Treasury¹ Secretary Tim Geithner has again urged China to let the exchange value of its money rise. Mister Geithner was among top officials from both countries who gathered in Beijing for the U.S.-China Strategic Dialogue. Their goal was to increase cooperation on security and economic issues.

Secretary of State Hillary Clinton spoke² at the opening of the meeting Thursday.

HILLARY CLINTON: “In today’s world, no global player can afford to treat geopolitics as a zero-sum game, we are working to build a relationship that allows both of our countries to flourish without unhealthy competition or conflict.”

Secretary Clinton noted³ that nations must deal with issues of economics and international politics in a way that is not ‘win or lose’, or what she called zero-sum. She also said that both the United States and China have to meet responsibilities to their own citizens and the international community.

The value of China’s money, the yuan, was among the top economic issues discussed on the first day of the meeting. Currently, the exchange rate is over six yuan to the American dollar.

The United States says China intervenes in foreign currency markets to keep the exchange value of the yuan low. A lower value means Chinese exports are less costly⁴ than their competitors. Critics also say China unfairly supports its industries with many other forms of government support.

Last year, America’s trade deficit⁵ with China reached a record two hundred ninety-five billion dollars.

On Thursday, Chinese Vice⁶ Premier⁷ Wang Qishan defended his country's money policy. He said China is moving at a measured rate to make its currency more flexible. And he urged the United States not to "politicize" economic issues.

Mister Wang also called on the United States to ease controls on high-technology exports and increase Chinese access to financial markets.

Secretary Geithner said China had moved toward a better way of valuing the yuan, officially called the renminbi. But he said more reform was needed.

TIMOTHY GEITHNER: “A stronger, more market-determined renminbi will help reinforce China’s reform objectives of moving towards higher value-added production, reforming your financial system and encouraging domestic demand.”

Currency reform, said Mister Geithner, was important to China’s financial system and to increasing demand at home.

And that's the VOA Special English Economics Report. I'm Mario Ritter. 

1 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

2 spoke   

n.（车轮的）辐条；轮辐；破坏某人的计划；阻挠某人的行动 v.讲，谈（speak的过去式）；说；演说；从某种观点来说

参考例句：

• They sourced the spoke nuts from our company.他们的轮辐螺帽是从我们公司获得的。
• The spokes of a wheel are the bars that connect the outer ring to the centre.辐条是轮子上连接外圈与中心的条棒。

3 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

4 costly   

adj.昂贵的，价值高的，豪华的

参考例句：

• It must be very costly to keep up a house like this.维修这么一幢房子一定很昂贵。
• This dictionary is very useful,only it is a bit costly.这本词典很有用，左不过贵了些。

5 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
• We have a great deficit this year.我们今年有很大亏损。

6 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

7 premier   

adj.首要的；n.总理，首相

参考例句：

• The Irish Premier is paying an official visit to Britain.爱尔兰总理正在对英国进行正式访问。
• He requested that the premier grant him an internview.他要求那位总理接见他一次。