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(单词翻译:双击或拖选)
Could these women help save us all from the financial crisis? China has transformed itself from drab Communism to the world's third biggest economy with 1.3 billion consumers hungry for the decade of fruits of capitalism1. And they might be the ones who give the kiss of life to the world's economy.
While people in Britain and America have been taking on too much debt, the Chinese have spent the last two decades carefully saving their money. In fact, this country has one of the highest national savings2 rates in the world. If the Chinese can now be coaxed3 into spending their money, economists4 say that will be key to a global recovery.
The Chinese Premier5 Wen Jiabao was in Davos this week, talking up how China can revive the world's fortunes. Gordon Brown wants to do business with Mr. Wen, and more trade and investment will be top of their agenda when they meet.
But there are others who blame China for the financial crisis. China's become the workshop of the world, exporting far more than it imports. China used those export earnings6 to buy American debt, which helped fuel the mortgage bubble. And some say the credit crunch7.
Timothy Geithner was sworn in this week as America's new Treasury8 Secretary. He's accused China of currency manipulation that created trade imbalances, leading to the financial crisis, though most experts disagree.
"It's much better to believe there's some conspiracy9 in Beijing to artificially overvalue the Chinese currency so as to make Chinese manufacturers and exporters wildly and unfairly competitive and to put American worker out of business, all that is economic gobbledygook."
But if China is not to blame, how much help can it give Britain? The country has its own money problems, rural poverty, slowing growth and laid-off workers. In this global crisis, many Chinese consumers would be lucky to keep themselves afloat, never mind the world economy.
Holly10 Williams, Sky News, Beijing.
give somebody the kiss of life (British & Australian): to help someone who has stopped breathing to breathe again by blowing into their mouth and pressing their chest
1 capitalism | |
n.资本主义 | |
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2 savings | |
n.存款,储蓄 | |
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3 coaxed | |
v.哄,用好话劝说( coax的过去式和过去分词 );巧言骗取;哄劝,劝诱 | |
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4 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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5 premier | |
adj.首要的;n.总理,首相 | |
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6 earnings | |
n.工资收人;利润,利益,所得 | |
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7 crunch | |
n.关键时刻;艰难局面;v.发出碎裂声 | |
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8 treasury | |
n.宝库;国库,金库;文库 | |
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9 conspiracy | |
n.阴谋,密谋,共谋 | |
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10 holly | |
n.[植]冬青属灌木 | |
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