经济学人:商品:全球形势紧张(2)

 　　In the background lurks¹ climate change, fears of which have grown with the heat and drought battering² Europe's wheat crop this summer. 在此背景下还潜伏着气候变化、以及今年夏天欧洲小麦作物遭遇高温干旱打击的恐惧。

　　European grain prices have surged as a result. But those of many other commodities are sagging³. 欧洲粮食价格也因此飙升。但是很多其他商品价格却在下降。

　　On August 22nd a pound of arabica coffee fell below $1, less than the cost of a takeaway brew⁴ and the lowest in 12 years. 8月22日，一磅小粒咖啡价格低至一美元不到，比外卖啤酒成本还低，成为12年来的最低价。

　　Raw sugar was also at ten-year lows. Both have been hit by oversupply⁵ in Brazil, as well as a slide in the value of the real, the Brazilian currency, 粗糖也到达了10年最低价。受巴西供应过量以及巴西货币雷亚尔贬值的影响，这两种食物价格受到冲击，

　　which makes it more compelling to sell crops, priced in dollars, rather than store them. 将这商品储存起来，还不如按美元进行售卖更能激发人们的兴趣。

　　The previous week, prices of copper⁶ fell into bear-market territory, down by more than 20% since June, 由于担心贸易保护主义会抑制全球增长，尤其是中国市场额增长，

　　on fears that protectionism would dampen global growth, especially in China, 上一周，铜的价格进入熊市，自6月份起下跌已超过20%，

　　whose efforts to crack down on financial leverage⁷ are another drag on expansion. 中国压制金融杠杆的努力是对扩张的另一种拖延。

　　Oil prices have dipped for seven straight weeks, also because of concerns about lack lustre⁸ demand in emerging markets 出于对新兴市场需求不足的担心以及美元的强势使得货币疲软的国家购买原材料成本增加，

　　and because a strong dollar makes it dearer for those with weak currencies to buy crude. 石油价格连续7周下跌。

　　Gold has developed a strange habit of sliding in sync with the Chinese yuan. 黄金已经形成了和人民币同步下跌的惯性。

　　American corn and soyabean prices, meanwhile, continue a long streak⁹ of weakness caused mainly by harvests that get more bountiful by the year. 与此同时，截止今年，玉米和大豆大丰收，美国玉米和大豆价格也受此影响而低迷。

　　The Department of Agriculture is forecasting a record corn yield this year and the biggest harvest of soyabeans ever, 农业部预测今年玉米产量会创纪录，大豆也将获得最大丰收，

　　something the crop tour is likely to validate¹⁰, Mr Seifried says. But that is lousy timing¹¹, given that China, 赛弗里德表示，这些可能是他们想要去证实的事情。但是现在不是证实的好时机，考虑到中国—

　　which was America's biggest buyer of soyabeans, raised retaliatory¹² tariffs¹³ on the crop in July. 美国最大的大豆买方，今年7月对美国农作物增收报复性关税。

　　Farmers hope to sell more in Europe, where soya meal for animal feed is in high demand because of the high cost of wheat. 农民们希望能更多的在欧洲进行推销，由于小麦成本高，所以欧洲人用豆渣喂养动物，因此对大豆需求很高。

　　But the slide in the real also makes Brazilian soyabeans more competitive. 但是现实情况是，价格下滑也让巴西的大豆更具有竞争力。

　　Optimism flickers¹⁴ from time to time. Many commodities rallied in the run-up to the latest trade talks between American and Chinese officials, 乐观主义有时也会跳动。在近期中美高层会谈前夕，很多商品回弹，中美高层会谈在《经济学人》付印后

　　which were due to end after The Economist¹⁵ went to press. The dollar fell, bolstering¹⁶ some commodities, 也将结束。美元下跌支撑起了一些商品

　　after President Donald Trump¹⁷ said in an interview with Reuters on August 20th that 此前8月20日，唐纳德·特朗普总统在接受《路透社》采访时表示

　　he was "not thrilled" with the Federal Reserve's policy of raising American interest rates. 美联储增加美国利率的政策并没有让他感到“激动”。

1 lurks   

n.潜在，潜伏；（lurk的复数形式）vi.潜伏，埋伏（lurk的第三人称单数形式）

参考例句：

• Behind his cool exterior lurks a reckless and frustrated person. 在冷酷的外表背后，他是一个鲁莽又不得志的人。 来自《简明英汉词典》
• Good fortune lies within Bad, Bad fortune lurks within good. 福兮祸所倚，祸兮福所伏。 来自互联网

2 battering   

n.用坏，损坏v.连续猛击( batter的现在分词 )

参考例句：

• The film took a battering from critics in the US. 该影片在美国遭遇到批评家的猛烈抨击。
• He kept battering away at the door. 他接连不断地砸门。 来自《简明英汉词典》

3 sagging   

下垂[沉，陷]，松垂，垂度

参考例句：

• The morale of the enemy troops is continuously sagging. 敌军的士气不断低落。
• We are sagging south. 我们的船正离开航线向南漂流。

4 brew   

v.酿造，调制

参考例句：

• Let's brew up some more tea.咱们沏些茶吧。
• The policeman dispelled the crowd lest they should brew trouble.警察驱散人群，因恐他们酿祸。

5 oversupply   

n.供应过量；v.过度供给

参考例句：

• The market softened because of oversupply.市场因供过于求而疲软。
• Overexpansion of tea fields has led to oversupply.茶园过度扩张，使得市场上逐渐供过于求。

6 copper   

n.铜；铜币；铜器；adj.铜(制)的；(紫)铜色的

参考例句：

• The students are asked to prove the purity of copper.要求学生们检验铜的纯度。
• Copper is a good medium for the conduction of heat and electricity.铜是热和电的良导体。

7 leverage   

n.力量，影响；杠杆作用，杠杆的力量

参考例句：

• We'll have to use leverage to move this huge rock.我们不得不借助杠杆之力来移动这块巨石。
• He failed in the project because he could gain no leverage. 因为他没有影响力，他的计划失败了。

8 lustre   

n.光亮，光泽；荣誉

参考例句：

• The sun was shining with uncommon lustre.太阳放射出异常的光彩。
• A good name keeps its lustre in the dark.一个好的名誉在黑暗中也保持它的光辉。

9 streak   

n.条理，斑纹，倾向，少许，痕迹；v.加条纹，变成条纹，奔驰，快速移动

参考例句：

• The Indians used to streak their faces with paint.印第安人过去常用颜料在脸上涂条纹。
• Why did you streak the tree?你为什么在树上刻条纹？

10 validate   

vt.（法律）使有效，使生效

参考例句：

• You need an official signature to validate the order.你要有正式的签字，这张汇票才能生效。
• In order to validate the agreement,both parties sign it.为使协议有效，双方在上面签了字。

11 timing   

n.时间安排，时间选择

参考例句：

• The timing of the meeting is not convenient.会议的时间安排不合适。
• The timing of our statement is very opportune.我们发表声明选择的时机很恰当。

12 retaliatory   

adj.报复的

参考例句：

• The process can take years before the WTO approves retaliatory action. 在WTO通过此行动之前，这个程序恐怕要等上一阵子了。 来自互联网
• Retaliatory tariffs on China are tantamount to taxing ourselves as a punishment. 将惩罚性关税强加于中国相当于对我们自己实施课税惩罚。 来自互联网

13 tariffs   

关税制度； 关税( tariff的名词复数 )； 关税表； （旅馆或饭店等的）收费表； 量刑标准

参考例句：

• British industry was sheltered from foreign competition by protective tariffs. 保护性关税使英国工业免受国际竞争影响。
• The new tariffs have put a stranglehold on trade. 新的关税制对开展贸易极为不利。

14 flickers   

电影制片业； （通常指灯光）闪烁，摇曳( flicker的名词复数 )

参考例句：

• The fire flickers low. 炉火颤动欲灭。
• A strange idea flickers in my mind. 一种奇怪的思想又在我脑中燃烧了。

15 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。

16 bolstering   

v.支持( bolster的现在分词 )；支撑；给予必要的支持；援助

参考例句：

• Why should Donahue's people concern themselves with bolstering your image? 唐纳休的人为什么要费心维护你的形象？ 来自辞典例句
• He needed bolstering and support. 他需要别人助他一臂之力。 来自辞典例句

17 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。