2021年经济学人 新兴市场：压力来袭（1）（在线收听）

Finance & economics

财经板块

Emerging markets: Feeling the heat

新兴市场：压力来袭

As inflation rises, policymakers in poor countries face a stern test

随着通胀的上升，贫穷国家的政策制定者面临着严峻的考验

IT HAS BEEN a long few months for the emerging world.

对于新兴世界来说，过去这几个月尤为漫长。

Punishing temperatures—July was the hottest month on record worldwide, according to a recent analysis—fanned fires on Turkey’s Mediterranean shores and scorched Russia’s wheat fields.

酷热的气温——根据最近的一项分析，7月是全球有记录以来最热的一个月——助长了土耳其地中海沿岸的大火，烤焦了俄罗斯的麦田。

Covid-19 rages across countries with low vaccination rates.

新冠肺炎还在疫苗接种率低的国家肆虐。

Just 24% of Brazilians, 9% of Indians and 7% of South Africans are double-jabbed.

只有24%的巴西人、9%的印度人和7%的南非人接种过两剂疫苗。

On top of everything else, inflation is running hot, too.

除此之外，通货膨胀也在加剧。

Soaring food and energy prices have pushed inflation to uncomfortably high levels.

不断飙升的食品和能源价格已将通胀推至令人不安的高位。

In Brazil consumer prices are 9% higher than they were a year ago, more than twice the central bank’s target.

巴西的消费价格比一年前高出9%，是央行目标数字的两倍多。

In Russia inflation is 6.5%, well above the central bank’s aim of 4%.

俄罗斯的通胀率为6.5%，远高于央行4%的目标。

Inflation in India, which had been high in 2020, rose above 6% this summer—north of the Reserve Bank’s target range.

印度的通胀率在2020年居高不下，今年夏天升至6%以上，超出了印度央行的目标区间。

Policymakers in poorer countries have navigated a fraught path this year.

今年，较贫穷国家的政策制定者一路走来满是荆棘。

The outbreak of high prices lays another severe test at their feet.

高油价的爆发给他们带来了另一个严峻的考验。

Growth has mostly resumed, despite the continued ravages of covid-19.

尽管新冠疫情持续肆虐，但经济增长已基本恢复。

In parts of the emerging world, such as India, output has already regained its pre-pandemic level.

在印度等部分新兴国家，产出已恢复到疫情前的水平。

In others, such as Russia, it is expected to do so by the end of the year.

在俄罗斯等其他国家，预计将在今年年底前实现同样的目标。

Soaring prices for oil, metals and agricultural products have been a boon for commodity exporters.

石油、金属和农产品价格不断飙升，给大宗商品出口国带来了福音。

But recoveries have been frustratingly uneven.

但经济复苏的不平衡性让人相当沮丧。

Better times for export industries have not always translated into broader labour-market recovery.

出口行业的好转并不等同于更大范围的劳动力市场复苏。

Business is booming in Brazil’s mining towns, for instance, but the unemployment rate across the country, at 14.6%, has scarcely declined from its pandemic peak.

例如，巴西矿业城镇的商业正在蓬勃发展，但全国14.6%的失业率与疫情高峰期相比几乎没有下降。