VOA标准英语10月-World Economy Heading into Major Slowdown, says I

The International Monetary¹ Fund anticipates sharply lower world growth because of the financial crisis rippling² across the globe. VOA's Barry Wood reports the IMF, however, does not anticipate a repeat of the global depression of the 1930s.
　

Olivier Blanchard (undated photo)

IMF chief economist³ Olivier Blanchard says the financial crisis will significantly slow global growth during the next year. Speaking at the start of the Washington annual meeting of the IMF and World Bank, Blanchard said the crisis is having its severest impact in advanced economies.

"We predict that growth in advanced countries will be close to zero, or even negative, until at least the middle of 2009, with a slow recovery until the rest of the year," he said.

Blanchard, a French economist and professor at the Massachusetts Institute of Technology, says world growth has been sustained by robust⁴ growth in China and India. But, he says emerging markets will soon feel the effects of the financial crisis, as well.

"All, or nearly all [emerging economies], will suffer from lower exports to advanced economies, and this will slow down their growth," he said. "Most will suffer from more expensive foreign credit. We are already seeing this happen."
　

Wall Street trader, 08 Oct 2008

In preparing its forecast, the International Monetary Fund assumed coordinated⁵ action by the Americans, Europeans and Japanese to stimulate⁶ growth and avoid a global downturn. The Fund says, after safeguarding financial institutions, governments should use fiscal⁷ policy to put more money into the hands of consumers.

IMF economists⁸ applaud Wednesday's action by major central banks acting⁹ in concert to cut interest rates, a move intended to boost consumer demand by making the cost of credit cheaper. This followed a series of measures taken in recent days to ease the credit crunch¹⁰, but stock markets have continued to fall amid concerns about global recession.

Blanchard says the financial shock that first shook banking¹¹ institutions has spread to businesses and consumers.

"Now, consumers and firms have weathered the recent oil and commodity price increases surprisingly well," said Blanchard. "Consumption and investment demand remain quite strong. But, what we see now is that demand is falling very sharply."

Blanchard and his IMF colleagues say there is no chance of a repeat of the global depression of the 1930s, because the lessons of that painful decade have been learned. Foremost among them is that consumer demand must be maintained, so that economic activity does not spiral downward amid corporate¹² failures and steeply rising unemployment.

1 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。

2 rippling   

起涟漪的，潺潺流水般声音的

参考例句：

• I could see the dawn breeze rippling the shining water. 我能看见黎明的微风在波光粼粼的水面上吹出道道涟漪。
• The pool rippling was caused by the waving of the reeds. 池塘里的潺潺声是芦苇摇动时引起的。

3 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。

4 robust   

adj.强壮的，强健的，粗野的，需要体力的，浓的

参考例句：

• She is too tall and robust.她个子太高，身体太壮。
• China wants to keep growth robust to reduce poverty and avoid job losses,AP commented.美联社评论道，中国希望保持经济强势增长，以减少贫困和失业状况。

5 coordinated   

adj.协调的

参考例句：

• The sound has to be coordinated with the picture. 声音必须和画面协调一致。
• The numerous existing statutes are complicated and poorly coordinated. 目前繁多的法令既十分复杂又缺乏快调。 来自英汉非文学 - 环境法 - 环境法

6 stimulate   

vt.刺激，使兴奋；激励，使…振奋

参考例句：

• Your encouragement will stimulate me to further efforts.你的鼓励会激发我进一步努力。
• Success will stimulate the people for fresh efforts.成功能鼓舞人们去作新的努力。

7 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

8 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》

9 acting   

n.演戏，行为，假装；adj.代理的，临时的，演出用的

参考例句：

• Ignore her,she's just acting.别理她，她只是假装的。
• During the seventies,her acting career was in eclipse.在七十年代，她的表演生涯黯然失色。

10 crunch   

n.关键时刻；艰难局面；v.发出碎裂声

参考例句：

• If it comes to the crunch they'll support us.关键时刻他们是会支持我们的。
• People who crunch nuts at the movies can be very annoying.看电影时嘎吱作声地嚼干果的人会使人十分讨厌。

11 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

12 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。