2. 外语
  3. In a breath-taking turn of events, Asia’s economies have gone from miracle to meltdown in a matter of weeks. Many forecasters wh

In a breath-taking turn of events, Asia’s economies have gone from miracle to meltdown in a matter of weeks. Many forecasters wh

admin2010-01-07  39
问题       In a breath-taking turn of events, Asia’s economies have gone from miracle to meltdown in a matter of weeks. Many forecasters who recently predicted GDP growth of 6% in South Korea and southeast Asia for 1998 are suddenly projecting zero or even negative growth. In tine often short-sighted world of international finance, a new conventional wisdom is quickly forming: that inept policy-making is dragging down Asian economies, and that only the tough austerity medicine of the International Monetary Fund, plus a good stiff recession, will bring the region’s economies back to track.
      In recent years, foreign and domestic investors in East Asia got a touch of what U.S. Federal Reserve Chairman Alan Greenspan has famously termed irrational exuberance. Spurred by years of high economic growth in Asia, these investors poured billions of dollars of loans into the region, financing many worthwhile investments but also an unsustainable real estate boom.
      This over-investment need not have caused a crisis. A healthy reaction would involve a gradual cutback in foreign lending, a gradual weakening of Asia’s overvalued currencies and gradual shift of investments from over-inflated property sectors back to longterm export-oriented projects. Most short-term booms are brought down to earth without extreme crisis, and such an adjustment was the most likely scenario until the summer in 1997.
      In the event, Asia experienced a financial meltdown. A gradual withdrawal of funds from Thailand suddenly became a stampede. Thailand’s government dallied in responding to the overheating long after it had become apparent, and as a result squandered Thailand’s foreign exchange reserves in a misguided attempt to defend the overvalued bat. The stampede came when foreign creditors realized that Thailand had more short-term foreign debts than the remaining short-term foreign reserves. A "rational" panic began. Each investor started to dump assets simply to get out of Thailand ahead of other investors. The chain reaction of nervous withdrawals led to a meltdown that now includes most of East Asia.
      Confidence has been so drained that Asia’s positive "fundamentals"--historically high rates of growth, savings and exports--are being overlooked. Economies rely on confidence, and what they most need to fear is, indeed, fear itself.  
The word "meltdown" in Paragraph 1, sentence 1 is closest in analogy to ______.
选项 A、the radioactive core of a nuclear power
B、a controlled nuclear reaction
C、nuclear energy slips out of control and ends up a full-blown disaster
D、the breakdown of the cooling system
答案C
解析 meltdown原意是“融化”，在这里指“经济滑坡”，用的是类比的手法。C项也基本上采用了这种手法。
转载请注明原文地址:https://kaotiyun.com/show/9cPd777K
本试题收录于： 公共英语四级笔试题库公共英语（PETS）分类
0

公共英语四级笔试

公共英语（PETS）

相关试题推荐
随机试题
最新回复(0)