2020年经济学人 全球贸易—潦而不倒(2)

Covid-related products including computing¹ equipment for home-working

自6月份以来，包括家用办公电脑设备在内的疫情相关产品，

has accounted for the majority of China's year-on-year export growth in each month since June.

在中国月度出口同比增长中占了大部分。

Eytan Buchman of Freightos, an online marketplace, reports that ocean-freight prices are surging for routes between America and South-East Asia,

线上市场Freightos的Eytan Buchman报告称，美洲与东南亚航线之间的海运费价格飙升，

partly because of "nearfrantic" e-commerce offerings by small businesses.

部分原因是因为小企业提供的“近乎疯狂”的电子商务服务。

Policymakers have played a pivotal role in the trade revival². Monetary³ and fiscal⁴ firepower was bigger and faster than trade experts had expected.

政策制定者在贸易复苏中发挥了关键作用。货币和财政的火力比贸易专家预期的更大和更快。

Central-bank liquidity⁵ measures kept trade finance flowing better than it did during the financial crisis,

央行流动性措施使贸易金融的流动性比金融危机期间的更好，

says Jennifer McKeown of Capital Economics, a research outfit⁶.

研究机构凯投宏观的Jennifer McKeown说到。

Although the trade performance is cause for relief, no one should declare victory yet.

尽管贸易表现让人松了一口气，但还不是宣告胜利的时候。

A second wave of lockdowns, or overhasty efforts to curtail⁷ economic stimulus⁸, could derail the recovery.

第二波封锁，或过于仓促地削减经济刺激措施，可能会破坏经济复苏。

The value of exports from South Korea dipped in August relative to July,

相较七月，韩国八月份的出口额有所下降，

as did those of China after adjusting for an artificially depressed⁹ base in 2019.

在为2019年人为压低的基数进行调整后，中国也有所下跌。

Robert Koopman, chief economist¹⁰ of the World Trade Organisation¹¹, which oversees¹² global trade,

监管全球贸易的世界贸易组织的首席经济学家Robert Koopman

doubts there will be a sustained v-shaped recovery.

怀疑是否会出现持续的v型复苏。

Overlaying this is a concern about the lingering unevenness¹³ of trade.

除此之外，还有对贸易持续不平衡的担忧。

Brad Setser of the Council on Foreign Relations, an American think-tank,

美国智囊团——美国外交关系协会的Brad Setser表示，

says that the trade slump¹⁴ has shrunk the gap between most countries' imports and exports, reducing imbalances.

贸易下跌缩小了进出口大国之间的差距，减少了不平衡。

Yet there have been two standout exceptions.

然而，有两个明显的例外。

The first is China, whose rapid reopening has sent its exports of goods surging to a level last seen

第一个是中国，中国迅速重启使其出口商品飙升至

before the Sino-American trade war—almost $60bn higher than imports in August.

中美贸易战爆发前的水平——比八月进口高出近600亿美元。

The second is America, whose policies to stoke demand have had the side-effect of causing its trade deficit¹⁵ to increase further—to around $80bn in July.

第二个是美国，其刺激需求的政策产生了副作用，导致其贸易逆差进一步增加——7月份达到约800亿美元。

This imbalance is ominous¹⁶. Although the so-called Phase One trade deal between America and China

这种不平衡是不祥之兆。虽然所谓的第一阶段中美贸易协定

was meant to prop¹⁷ up American exports to China, so far it has disappointed.

旨在支持美国对中国的出口，但到目前为止结果令人失望。

Meanwhile, President Donald Trump¹⁸ is haranguing¹⁹ China ahead of elections in November.

与此同时，唐纳德·特朗普总统正在11月的大选前大谈特谈中国。

Trade may not have performed as badly as many feared. But it still has an alarming ability to pack a Thurmanesque punch.

贸易的表现可能并不像许多人担心的那么糟糕。但它仍有惊人的能力，能够打出瑟曼式的重击。

1 computing   

n.计算

参考例句：

• to work in computing 从事信息处理
• Back in the dark ages of computing, in about 1980, they started a software company. 早在计算机尚未普及的时代（约1980年），他们就创办了软件公司。

2 revival   

n.复兴，复苏，（精力、活力等的）重振

参考例句：

• The period saw a great revival in the wine trade.这一时期葡萄酒业出现了很大的复苏。
• He claimed the housing market was showing signs of a revival.他指出房地产市场正出现复苏的迹象。

3 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。

4 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。

5 liquidity   

n.流动性，偿债能力，流动资产

参考例句：

• The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
• The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。

6 outfit   

n.（为特殊用途的）全套装备，全套服装

参考例句：

• Jenney bought a new outfit for her daughter's wedding.珍妮为参加女儿的婚礼买了一套新装。
• His father bought a ski outfit for him on his birthday.他父亲在他生日那天给他买了一套滑雪用具。

7 curtail   

vt.截短，缩短；削减

参考例句：

• The government hopes to curtail public spending.政府希望缩减公共事业开支。
• The minister had to curtail his visit.部长不得不缩短访问日期。

8 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。

9 depressed   

adj.沮丧的，抑郁的，不景气的，萧条的

参考例句：

• When he was depressed,he felt utterly divorced from reality.他心情沮丧时就感到完全脱离了现实。
• His mother was depressed by the sad news.这个坏消息使他的母亲意志消沉。

10 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。

11 organisation   

n.组织，安排，团体，有机休

参考例句：

• The method of his organisation work is worth commending.他的组织工作的方法值得称道。
• His application for membership of the organisation was rejected.他想要加入该组织的申请遭到了拒绝。

12 oversees   

v.监督，监视( oversee的第三人称单数 )

参考例句：

• She oversees both the research and the manufacturing departments. 她既监督研究部门又监督生产部门。 来自《简明英汉词典》
• The Department of Education oversees the federal programs dealing with education. 教育部监管处理教育的联邦程序。 来自互联网

13 unevenness   

n. 不平坦，不平衡，不匀性

参考例句：

• This unevenness comes about because topics are developed in a logical order. 所以出现这种不平衡，是因为课题是按逻辑顺序展开的。
• I sanded the corners to take away any unevenness in the joints. 我用砂纸磨边边角角的地方，去除接头处的不均。

14 slump   

n.暴跌，意气消沉，（土地）下沉；vi.猛然掉落，坍塌，大幅度下跌

参考例句：

• She is in a slump in her career.她处在事业的低谷。
• Economists are forecasting a slump.经济学家们预言将发生经济衰退。

15 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。

16 ominous   

adj.不祥的，不吉的，预兆的，预示的

参考例句：

• Those black clouds look ominous for our picnic.那些乌云对我们的野餐来说是个不祥之兆。
• There was an ominous silence at the other end of the phone.电话那头出现了不祥的沉默。

17 prop   

vt.支撑；n.支柱，支撑物；支持者，靠山

参考例句：

• A worker put a prop against the wall of the tunnel to keep it from falling.一名工人用东西支撑住隧道壁好使它不会倒塌。
• The government does not intend to prop up declining industries.政府无意扶持不景气的企业。

18 trump   

n.王牌，法宝；v.打出王牌，吹喇叭

参考例句：

• He was never able to trump up the courage to have a showdown.他始终鼓不起勇气摊牌。
• The coach saved his star player for a trump card.教练保留他的明星选手，作为他的王牌。

19 haranguing   

v.高谈阔论( harangue的现在分词 )

参考例句：

• He continued in his customary, haranguing style. 他继续以他一贯的夸夸其谈的手法讲下去。 来自辞典例句
• That lady was still haranguing the girl. 那位女士仍然对那女孩喋喋不休地训斥。 来自互联网