首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
This Christmas the world economy offers few reasons for good cheer. As credit contracts and asset prices declined, demand across
This Christmas the world economy offers few reasons for good cheer. As credit contracts and asset prices declined, demand across
admin
2010-10-28
105
问题
This Christmas the world economy offers few reasons for good cheer. As credit contracts and asset prices declined, demand across the globe is declining. Rich countries collectively face the severest recession since the Second World War: this week’s cut in the target for the federal funds rate to between zero and 0.25% shows how fearful America’s policymakers are. And conditions are deteriorating fast too in emerging economies, which have been exhausted by declining exports and the drying-up of foreign finance.
This news is bad enough in itself; but it also poses the biggest threat to open markets in the modem era of globalization. For the first time in more than a generation, two of the engines of global integration -- trade and capital flows -- are shifting into reverse at the same time. The World Bank says that net private capital flows to emerging economies in 2009 are likely to be only half the record $ 1 trillion of 2007, while global trade volumes will shrink for the first time since 1982.
This twin shift will force adjustments. Countries that have relied on exports to drive growth, from China to Germany, will slump unless they can boost domestic demand quickly. There is a risk that in their discomfort governments turn to an old, but false, friend: protectionism. Integration has less appeal when pain rather than prosperity is hanging across borders. It will be tempting to support domestic jobs and incomes by diverting demand from abroad with export subsidies, tariffs and cheaper currencies.
The lessons of history, though, are clear. The economic isolationism of the 1930s cruelly intensified the Depression. To be sure, the World Trade Organization (WTO) and its multilateral trading rules are a bulwark(壁垒) against protection on that scale. But today’s globalised economy, with far-stretched supply chains and just-in-time delivery, could be disrupted by policies much less dramatic than the Smoot-Hawley act. A modest shift away from openness -- well within the WTO’s rules -- would be enough to turn the recession of 2009 much nastier. Increased protection of that sort is, alas, all too plausible.
What hazard may lie in the process of adjustments taken by export-relied countries?
选项
答案
They may turn to protectionism.
解析
第三项开头作者指出面临这种形势,各国政府需要做出调整,尤其是那些依赖于出口的国家;然后在定位句中提到改革过程中存在的风险—保护主义;由hazard 和 risk同义,可推出本题答案为They may turn to protectionism。
转载请注明原文地址:https://kaotiyun.com/show/Uzs7777K
0
大学英语六级
相关试题推荐
Povertyexistsbecauseoursocietyisanunequalone,andtherearepowerfulpoliticalpressurestokeepitthatway.Anyattemp
WhenKathieGifford’sfacewassplashedacrossthenewspapersin1996afterherlucrativelineofWalmartclothingwasexposeda
WhenKathieGifford’sfacewassplashedacrossthenewspapersin1996afterherlucrativelineofWalmartclothingwasexposeda
A、Atravelagent.B、Acustomsofficer.C、Apolicewoman.D、Abankclerk.D
A、They’reextremelynoisy.B、Theyshouldhavearrivedbynow.C、Theyshouldbeallowedtoflythere.D、Theyarenotonadefinit
MarriageMarriageistraditionallyconceivedtobealegallyrecognizedrelationship,betweenanadultmaleandfemale,that
MarriageMarriageistraditionallyconceivedtobealegallyrecognizedrelationship,betweenanadultmaleandfemale,that
Occasionalself-medicationhasalwaysbeenpartofnormalliving.Themakingandsellingofdrugshavealonghistoryandarecl
A、Onlyoneoutoffourgirlscrieslessoftenthanboys.B、Offourboys,onlyonecriesveryoften.C、Girlscryfourtimesasof
Successoftendependsonyourperformanceataninterview.Forthosewhoarewellprepared,itcanbeapositiveexperience,and
随机试题
如果俄罗斯族人口比上一年下降了15.3%,那么上一年该国俄罗斯族人口约为()万人。
肠外营养与导管有关的并发症不正确的是
胸腺依赖性淋巴细胞指的是
A.冲脉B.督脉C.阴跷脉D.阳维脉E.阴维脉奇经八脉中与脑、髓、肾关系密切的是()
下列不可压缩二维流动中,哪个满足连续方程:
市场约束的具体表现是在有效信息披露的前提下,依靠()等利益相关者的利益驱动,使这些利益相关者根据自身掌握的信息及判断,在必要时采取影响金融机构经营活动的合理行动,达到促进银行稳健经营的目的。
以一次包死的总价委托,价格不因环境的变化和工程量增减而变化的合同属()。
以下情况违反我国银行储蓄挂失规则的有()。
内部晋升制的作用不包括()。
如果要显示的记录和字段较多,并且希望可以同时浏览多条记录及方便比较相同字段,则应创建的报表类型是
最新回复
(
0
)