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(单词翻译:双击或拖选)
A new report finds the Asia-Pacific region is facing a triple threat, as a consequence of the present global economic situation. The United Nations Conference on Trade and Development has just unveiled its annual Economic and Social Survey for Asia and the Pacific.
UNCTAD Secretary-General Supachai Panitchpakdi, talks to reporters about new report during press conference in Geneva, 26 Mar1 2009
The world is faced with difficult economic times. The U.N. Conference on Trade and Development says the Asia-Pacific region also has two additional crises to face. These are the food-fuel price volatility2 and climate change.
The UNCTAD survey says, together, they add up to triple threats to development, which have to be tackled with vigor3.
This is the second time in a decade Asia and the Pacific have been hit by a financial crisis. The survey finds reforms undertaken since 1997 in improved fiscal4 balances, banking5 reforms and foreign-exchange reserve accumulation made the region more resilient, at the beginning of the current crisis.
But, the report says that resilience started to erode6 in the fourth quarter of 2008. UNCTAD Economist7 Cape8 Kasahara says trade - the region's engine of growth - moved from double-digit growth to double-digit declines.
"So, the greater the external reliance the country's economy is to trade, particularly export, it tends to make that national economy rather vulnerable to the external shock," Kasahara said.
The survey says the Asia-Pacific region is more economically integrated with the rest of the world then with itself. It calls for more intra-regional trade and investment by implementing9 regional economic-cooperation agreements.
Almost two-thirds of the world's poor people and half of its natural disasters are found in Asia and the Pacific. UNCTAD says the number of poor people in the region is likely to increase, as a result of the economy and rising unemployment.
Kasahara says last year's record high oil prices of $147 a barrel caused food prices to skyrocket. He says this hit the poor particularly hard.
"Much of the food-price increase has a greater affect on the poor households, because they tend to have a high propensity10 to consume. They spend a large amount of the household budget on food items. Therefore, the major victims of the food-price shock to the national economy tends to be poor."
The survey says the triple crises are interlinked. Studies show natural disasters disproportionately affect the poor and the most vulnerable. The report says climate change threatens to worsen this situation by increasing the frequency and severity of natural disasters and crop failures in the region.
The U.N. report says government stimulus11 packages can reinvigorate the economy, in the short term. They also can address long-term issues by investing in food and energy security, social safety nets, disaster risk reduction and green technology.
1 mar | |
vt.破坏,毁坏,弄糟 | |
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2 volatility | |
n.挥发性,挥发度,轻快,(性格)反复无常 | |
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3 vigor | |
n.活力,精力,元气 | |
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4 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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5 banking | |
n.银行业,银行学,金融业 | |
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6 erode | |
v.侵蚀,腐蚀,使...减少、减弱或消失 | |
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7 economist | |
n.经济学家,经济专家,节俭的人 | |
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8 cape | |
n.海角,岬;披肩,短披风 | |
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9 implementing | |
v.实现( implement的现在分词 );执行;贯彻;使生效 | |
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10 propensity | |
n.倾向;习性 | |
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11 stimulus | |
n.刺激,刺激物,促进因素,引起兴奋的事物 | |
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