外国专家:中国股市动荡风险蔓延

Experts: Little Risk of China Stock Turmoil¹ Spreading 外国专家:中国股市动荡风险蔓延

While China’s recent stock market chaos² has pushed down stock and commodity prices in other nations, the impact on the global economy may be limited. Some foreign experts worry, however, that strong Chinese government efforts to calm markets could set back needed economic reforms in that nation.

Chinese stock markets have fallen sharply, though they have recovered somewhat after government intervention³ that blocked some trades and encouraged others.

People with stock accounts in China, like He Meizhen, are worried. She has years of stock market experience, but now said she “feels nervous all over” and wondered “how can we stand it."

Lew weighs in

U.S. Treasury⁴ Secretary Jack⁵ Lew said strong government control over markets can hamper⁶ the economy, but such control also means China will probably not export its problems to other nations.  

“China’s markets are pretty much separated from world markets," he said. "They are obviously moving toward being more integrated, but right now, they are not."

Derek Scissors, a scholar at the American Enterprise Institute, said there are fewer links between China’s stock market and its core economy than there are in other nations.

“Ninety million people have stock accounts [in China], which sounds like a lot until you remember that’s 1.3 billion that don’t have stock accounts," he said.

Rising stock prices make investors⁷ feel wealthy, sparking consumer spending and economic growth.  Falling prices cut this growth.  But in China this “wealth effect” is limited by the small proportion of the population that holds stocks.

Speaking via Skype, PNC Bank Senior International Economist⁸ Bill Adams said there is a “limited” correlation⁹ between stocks and growth in China. He added that growth is slowing but remains¹⁰ strong.

“We are still expecting real GDP growth of between 6 and a 7.5 percent in 2015," he said.

Consumer shift

Economists¹¹ say China is changing slowly from a heavily centralized industrial economy to a more market- and consumer-oriented one.  

Lew worries that market turmoil could derail reforms that could help growth. He said those reforms “will lead to slower but hopefully a sustainable level of growth, which will also improve the economic conditions for Chinese people and be a boost to the global economy."

Lew said it is critical for Beijing to respond to stock turmoil in ways that make the economy more market-oriented. But Scissors said right now, China is headed in the other direction.

1 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

2 chaos   

n.混乱，无秩序

参考例句：

• After the failure of electricity supply the city was in chaos.停电后，城市一片混乱。
• The typhoon left chaos behind it.台风后一片混乱。

3 intervention   

n.介入，干涉，干预

参考例句：

• The government's intervention in this dispute will not help.政府对这场争论的干预不会起作用。
• Many people felt he would be hostile to the idea of foreign intervention.许多人觉得他会反对外来干预。

4 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。

5 jack   

n.插座，千斤顶，男人；v.抬起，提醒，扛举；n.（Jake）杰克

参考例句：

• I am looking for the headphone jack.我正在找寻头戴式耳机插孔。
• He lifted the car with a jack to change the flat tyre.他用千斤顶把车顶起来换下瘪轮胎。

6 hamper   

vt.妨碍，束缚，限制；n.(有盖的)大篮子

参考例句：

• There are some apples in a picnic hamper.在野餐用的大篮子里有许多苹果。
• The emergence of such problems seriously hamper the development of enterprises.这些问题的出现严重阻碍了企业的发展。

7 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

8 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。

9 correlation   

n.相互关系，相关，关连

参考例句：

• The second group of measurements had a high correlation with the first.第二组测量数据与第一组高度相关。
• A high correlation exists in America between education and economic position.教育和经济地位在美国有极密切的关系。

10 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

11 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》