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
(1)Pundits who want to sound judicious are fond of warning against generalizing. Each country is different, they say, and no one
(1)Pundits who want to sound judicious are fond of warning against generalizing. Each country is different, they say, and no one
admin
2016-11-03
72
问题
(1)Pundits who want to sound judicious are fond of warning against generalizing. Each country is different, they say, and no one story fits all of Asia. This is, of course, silly: all of these economies plunged into economic crisis within a few months of each other, so they must have had something in common.
(2)In fact, the logic of catastrophe was pretty much the same in Thailand, Malaysia, Indonesia and South Korea.(Japan is a very different story.)In each case investors—mainly, but not entirely, foreign banks who had made short-term loans—all tried to pull their money out at the same time. The result was a combined banking and currency crisis: a banking crisis because no bank can convert all its assets into cash on short notice; a currency crisis because panicked investors were trying not only to convert long-term assets into cash, but to convert baht or rupiah into dollars. In the face of the stampede, governments had no good options. If they let their currencies plunge, inflation would soar and companies that had borrowed in dollars would go bankrupt; if they tried to support their currencies by pushing up interest rates, the same firms would probably go bust from the combination of debt burden and recession. In practice, countries split the difference—and paid a heavy price regardless.
(3)Was the crisis a punishment for bad economic management? Like most cliches, the catchphrase "crony capitalism" has prospered because it gets at something real: excessively cozy relationships between government and business really did lead to a lot of bad investments. The still primitive financial structure of Asian business also made the economies peculiarly vulnerable to a loss of confidence. But the punishment was surely disproportionate to the crime, and many investments that look foolish in retrospect seemed sensible at the time.
(4)Given mat there were no good policy options, was the policy response mainly on the right track? There was frantic blame-shifting when everything in Asia seemed to be going wrong; now there is a race to claim credit when some things have started to go right. The International Monetary Fund points to Korea’s recovery —and more generally to the fact that the sky didn’t fall after all—as proof that its policy recommendations were right. Never mind that other IMF clients have done far worse, and that the economy of Malaysia— which refused IMF help, and horrified respectable opinion by imposing capital controls—also seems to be on the mend. Malaysia’s Prime Minister, by contrast, claims full credit for any good news—even though neighbouring economies also seem to have bottomed out.
(5)The truth is that an observer without any ax to grind would probably conclude that none of the policies adopted either on or in defiance of the IMF’s advice made much difference either way. Budget policies, interest rate policies, banking reform—whatever countries tried, just about all me capital that could flee, did. And when mere was no more money to run, me natural recuperative powers of the economies finally began to prevail. At best, the money doctors who purported to offer cures provided a helpful bedside manner; at worst, they were like medieval physicians who prescribed bleeding as a remedy for all ills.
(6)Will me patients stage a full recovery? It depends on exactly what you mean by "full". South Korea’s industrial production is already above its pre-crisis level; but in the spring of 1997 anyone who had predicted zero growth in Korean industry over the next two years would have been regarded as a reckless doomsayer. So if by recovery you mean not just a return to growth, but one that brings the region’s performance back to something like what people used to regard as the Asian norm, they have a long way to go.
At the end of the passage, the writer seems to think that a full recovery of the Asian economy is ______.
选项
A、due
B、remote
C、imaginative
D、unpredictable
答案
B
解析
最后一段末句提到,“经济复苏”不仅指经济重新出现增长,而且指恢复到“正常的”发展水平,这就需要很长的时间(a long way to go)。故应选B“遥远的”。
转载请注明原文地址:https://kaotiyun.com/show/pw7O777K
0
专业英语八级
相关试题推荐
AccordingtoAustin,whichofthefollowingutterancescanberegardedasaperformative?
Griceintroducedfourcategoriesofmaxims,whichofthefollowingmeansthatweshouldbeclearinourmeaning?
AccordingtotheSpeechActTheory,whenaspeakeruttersasentencetomakeastatementortomakeanoffer,heisperformingt
"YoushouldspendmoretimeonEnglish"isa(n)
Theexplorationofinternationalbusinessisanexciting,important,andnecessarytask.Internationalbusinessisexcitingbec
Accordingtolegend,theancientOlympicGameswerefoundedbyHeracles,asonofZeus.YetthefirstOlympicGamesforwhich
GeorgeBernardShaw’s______isacommentaryonIbsen’sdramaticworksandalsoservedastheauthor’sownprogramofdramaticc
Schoolsthroughouttheworldareexperiencingaperiodofrapidchangeand,inmanycases,arefindingthatextremely【M1】______
PASSAGEFOURWhatisJasperRine’sattitudetowardSchmidtandGoodwin’sproposal?
Oneofthetypesofmetaphorusuallyreferringtowithlittle【S1】______admirationisthedeadmetaphor:ametaphorwhichhasbe
随机试题
A.高热,B超发现肝右叶肿物内含不均匀液性回声B.血清AFP升高,B超发现肝右叶实性肿物C.B超发现肝右叶囊性肿物,Casoni试验阳性D.B超发现肝及肾多发囊性肿物E.发现右肝内肿物10年,CT增强扫描见肿物均匀性增强上述病例提示为原发性肝癌
药品广告须经企业所在地哪个部门批准
大丹犬,雌性,7岁,45kg。从高处坠落后出现跛行,左前肢稍能负重,肘部外展,出现前方短步。为确诊患部,需进行
肛门直肠周围脓肿,火毒蕴结证肛门直肠周围脓肿,阴虚毒恋证
某孕妇身体矮小,匀称,骨盆测量数值如下:髂棘间径21cm,髂嵴间径23cm,骶耻外径16cm,出口横径7cm,对角径10.5cm。此孕妇骨盆为
砖的强度等级用()表示。
下列法律事实中,()属于法律事件。
财务报表审阅的目标是什么?
Theevolutioninpublicpolicyconcerningthemanufacture,saleandpossessionofsemiautomaticassaultweaponslikeAK-47s,AR-
Initsearlyhistory,Chicagohadfloodsfrequently,especiallyinthespring,makingthestreetssomuddythatpeople,horses,
最新回复
(
0
)