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VOA标准英语 Decade-Old Reforms Help Asia's Economies Cope With C

时间:2009-05-11 06:08:00

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The man who helped Thailand survive the Asian financial crisis says reforms a decade ago have made the region's banks better able to weather the global economic downturn. Former Finance Minister Tarrin Nimmanahaeminda also gave his endorsement1 to banking2-reform programs planned by the United States and G-20 nations.
 
Former Finance Minister Tarrin Nimmanahaeminda (File)

Thailand led the region into the financial crisis of 1997, when fears about the banks and foreign debt led to a collapse3 of the baht. Dozens of Asian financial companies shut down, and many banks merged4 with others, or sold large stakes to foreign investors5

Tarrin Nimmanahaeminda became Thailand's finance minister during the crisis.

"In 1997 when we had a certain part of Asia affected6 by systemic problems in the financial system we undertook a lot of reform measures which have made the Asian financial institutions relatively7 strong," he said. "So you can probably say that there is not much of a problem of the asset side in the Asian banking system."

While most banks in Asia are relatively sturdy, the global financial crisis is hurting other industries in the region.

Most economies in the region are heavily dependent on export income and have been hard hit by the slump8 in the United States and Europe, which has cut export sales. The Thai economy is forecast to contract by as much as four percent this year, leaving as many as two million unemployed9.

Tarrin says ultimately Asian governments will need to look to export markets for economic revival10.

"The governments in Asia have started a lot of fiscal11 stimulus12 measures. I mean practically every country has gone through the exercise," he said. "But meanwhile you can only do so much for so long. In the end you still need to go back to international trade and international services flows as the way out for the affected Asian economies."

Tarrin endorses13 reform measures in the United States set out by Treasury14 Secretary Tim Geithner. The U.S. plan includes setting up public-private investments to soak up as much as one trillion dollars in troubled loans and securities.

"As a matter of principle there is no other choice if you want a credit system to function properly, government intervention15 in the areas of trying to somehow do something with the bad assets is necessary," added Tarrin "And the way the American plan has been detailed16 out, the Geithner Plan, I think it is quite proper."

He also says plans by the G-20 to revive the global financial system are "moving in the right direction". But Tarrin calls for the major industrial countries to ensure continued support to developing economies because they are unable to maintain large stimulus packages like those in the industrial world.


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1 endorsement ApOxK     
n.背书;赞成,认可,担保;签(注),批注
参考例句:
  • We are happy to give the product our full endorsement.我们很高兴给予该产品完全的认可。
  • His presidential campaign won endorsement from several celebrities.他参加总统竞选得到一些社会名流的支持。
2 banking aySz20     
n.银行业,银行学,金融业
参考例句:
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
3 collapse aWvyE     
vi.累倒;昏倒;倒塌;塌陷
参考例句:
  • The country's economy is on the verge of collapse.国家的经济已到了崩溃的边缘。
  • The engineer made a complete diagnosis of the bridge's collapse.工程师对桥的倒塌做了一次彻底的调查分析。
4 merged d33b2d33223e1272c8bbe02180876e6f     
(使)混合( merge的过去式和过去分词 ); 相融; 融入; 渐渐消失在某物中
参考例句:
  • Turf wars are inevitable when two departments are merged. 两个部门合并时总免不了争争权限。
  • The small shops were merged into a large market. 那些小商店合并成为一个大商场。
5 investors dffc64354445b947454450e472276b99     
n.投资者,出资者( investor的名词复数 )
参考例句:
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
6 affected TzUzg0     
adj.不自然的,假装的
参考例句:
  • She showed an affected interest in our subject.她假装对我们的课题感到兴趣。
  • His manners are affected.他的态度不自然。
7 relatively bkqzS3     
adv.比较...地,相对地
参考例句:
  • The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
  • The operation was relatively painless.手术相对来说不痛。
8 slump 4E8zU     
n.暴跌,意气消沉,(土地)下沉;vi.猛然掉落,坍塌,大幅度下跌
参考例句:
  • She is in a slump in her career.她处在事业的低谷。
  • Economists are forecasting a slump.经济学家们预言将发生经济衰退。
9 unemployed lfIz5Q     
adj.失业的,没有工作的;未动用的,闲置的
参考例句:
  • There are now over four million unemployed workers in this country.这个国家现有四百万失业人员。
  • The unemployed hunger for jobs.失业者渴望得到工作。
10 revival UWixU     
n.复兴,复苏,(精力、活力等的)重振
参考例句:
  • The period saw a great revival in the wine trade.这一时期葡萄酒业出现了很大的复苏。
  • He claimed the housing market was showing signs of a revival.他指出房地产市场正出现复苏的迹象。
11 fiscal agbzf     
adj.财政的,会计的,国库的,国库岁入的
参考例句:
  • The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
  • The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。
12 stimulus 3huyO     
n.刺激,刺激物,促进因素,引起兴奋的事物
参考例句:
  • Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
  • Light is a stimulus to growth in plants.光是促进植物生长的一个因素。
13 endorses c3e60c44ba7aa93f0218a4cb8797284f     
v.赞同( endorse的第三人称单数 );在(尤指支票的)背面签字;在(文件的)背面写评论;在广告上说本人使用并赞同某产品
参考例句:
  • There isn't one country in the Middle East that now endorses the Eisenhower Doctrine. 但至今没有一个中东国家认可它。 来自辞典例句
  • Whether any of this truly endorses Dr Patel's hypothesis is moot. 这些视频能否真正证明帕特的假设成立还是个未知数。 来自互联网
14 treasury 7GeyP     
n.宝库;国库,金库;文库
参考例句:
  • The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
  • This book is a treasury of useful information.这本书是有价值的信息宝库。
15 intervention e5sxZ     
n.介入,干涉,干预
参考例句:
  • The government's intervention in this dispute will not help.政府对这场争论的干预不会起作用。
  • Many people felt he would be hostile to the idea of foreign intervention.许多人觉得他会反对外来干预。
16 detailed xuNzms     
adj.详细的,详尽的,极注意细节的,完全的
参考例句:
  • He had made a detailed study of the terrain.他对地形作了缜密的研究。
  • A detailed list of our publications is available on request.我们的出版物有一份详细的目录备索。

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