VOA标准英语10月-US Problems Spread to Ecuador's Dollar Economy

U.S. financial problems are affecting economies around the world, especially Ecuador which uses the U.S. dollar as its national currency. VOA's Brian Wagner visited Quito, where the economic crisis is sparking debate on whether or not to continue the dollarization program.
　

Woman counts her dollars in Ecuador

U.S. dollars have flowed freely in Ecuador since the Quito government in 2000 stopped circulating the sucre in an effort to stem rampant¹ inflation. Since then, reaction to the decision has been mixed. But most economists³ agree that dollarization has brought stability to Ecuador's economy, allowing for greater investment and business opportunities. Panama, El Salvador and several smaller nations have pursued dollar programs as well.

Now however, some business and political leaders are reassessing the decision as the ripple⁴ effects from the United States spread around the world.

Pablo Davalos, economist² at the Catholic University of Ecuador, says the dollar economy means Ecuador's Central Bank has few tools to protect itself from the widening crisis.

He says international economic problems often spread, but Ecuador is more vulnerable because it has no monetary⁵ policy. He says Ecuador's dollar-economy allows U.S. problems to spread directly to Ecuador.

Davalos says U.S. problems have weakened the value of the dollar around the world, leading to inflation inside Ecuador. Already this year, Ecuadorian officials report domestic prices have jumped more than eight percent.

In Quito, market owner Jose Rivadeneira says many consumers are complaining about rising prices for food and other goods.

He says inflation is apparent at the market, because prices often go up with every new shipment he receives.

Experts say price hikes also are a result of economic and political concerns inside Ecuador, such as a recent referendum to approve a new constitution.

Department store owner Jose Cueva says a slight downturn at his business is a result of domestic factors.

Cueva said domestic policy mistakes and not U.S. troubles are the cause of rising prices, but he said the latest round of bank failures in the United States will eventually hit Ecuador.

In recent months, President Rafael Correa has criticized the adoption⁶ of the dollar economy, saying it hobbles future economic growth in the Andean nation. Some opposition⁷ leaders have expressed fear the president may abandon the current system, but Mr. Correa has ruled out making any such changes so far.

One positive note in the current economy is that a weaker U.S. dollar has made some Ecuadorian exports more attractive to foreign buyers, especially in Europe. John Price, managing director of Kroll consulting in Miami, says shrimp⁸ and banana exporters based in the coastal⁹ city of Guayaquil stand to benefit.

"The folks in Guayaquil were not happy with the dollarization. However, we live in a world of a weak dollar and those folks are [now] reasonably happy with their level of competitiveness."

Price says many exporters and other business leaders would oppose an end to the dollar economy, if Quito's government decided¹⁰ to launch its own currency.

Economist Pablo Davalos in Quito says the government is unlikely to move in that direction, because the political risks are too great.

He says the government may criticize the dollar economy, but right now the president must defend the program to ensure his own political stability.

Davalos says the government could be forced to change that position in coming months, however, if the fallout from the U.S. crisis continues to hurt Ecuador's economy.

1 rampant   

adj.(植物)蔓生的；狂暴的，无约束的

参考例句：

• Sickness was rampant in the area.该地区疾病蔓延。
• You cannot allow children to rampant through the museum.你不能任由小孩子在博物馆里乱跑。

2 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

3 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

4 ripple   

n.涟波，涟漪，波纹，粗钢梳；vt.使...起涟漪，使起波纹； vi.呈波浪状，起伏前进

参考例句：

• The pebble made a ripple on the surface of the lake.石子在湖面上激起一个涟漪。
• The small ripple split upon the beach.小小的涟漪卷来，碎在沙滩上。

5 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

6 adoption   

n.采用，采纳，通过；收养

参考例句：

• An adoption agency had sent the boys to two different families.一个收养机构把他们送给两个不同的家庭。
• The adoption of this policy would relieve them of a tremendous burden.采取这一政策会给他们解除一个巨大的负担。

7 opposition   

n.反对，敌对

参考例句：

• The party leader is facing opposition in his own backyard.该党领袖在自己的党內遇到了反对。
• The police tried to break down the prisoner's opposition.警察设法制住了那个囚犯的反抗。

8 shrimp   

n.虾，小虾；矮小的人

参考例句：

• When the shrimp farm is built it will block the stream.一旦养虾场建起来，将会截断这条河流。
• When it comes to seafood,I like shrimp the best.说到海鲜，我最喜欢虾。

9 coastal   

adj.海岸的，沿海的，沿岸的

参考例句：

• The ocean waves are slowly eating away the coastal rocks.大海的波浪慢慢地侵蚀着岸边的岩石。
• This country will fortify the coastal areas.该国将加强沿海地区的防御。

10 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。