VOA标准英语10月-US to Host G-20 Financial Summit

The White House says President Bush will host a summit of 20 nations next month to discuss the global financial crisis, ways to recover from it, and mechanisms¹ needed to ensure it does not happen again. VOA's Michael Bowman reports from Washington, the gathering² is being planned amid continuing global market volatility³.

The White House says the November 15 summit will assess steps taken to combat the severe financial contagion⁴ that began in the United States and quickly spread across the globe.
　

White House spokeswoman, Dana Perino (file photo)

"The leaders will review progress being made to address the financial crisis, advance a common understanding of its causes, and, in order to avoid a repetition, agree on a common set of principles for reform of the regulatory and institutional regimes for the world's financial sectors," said Dana Perino, White House spokeswoman.

The White House is inviting⁵ leaders of the G-20 finance group, which includes Britain, France, Germany, Russia, Saudi Arabia, India, Japan and South Korea.

Perino says the summit is viewed as the first of several gatherings⁶, in which working groups will develop recommendations for consideration in future meetings.

"We expect that the leaders will discuss the effects of the crisis on emerging economies and developing nations. The summit will also provide an important opportunity for leaders to strengthen the underpinnings of capitalism⁷ by discussing how they can enhance their commitment to open competitive economies, as well as trade and investment liberalization," added Perino.

Recent weeks have seen aggressive steps by governments around the world to prop⁸ up troubled banks and other financial institutions, and to inject capital to promote lending that has been severely⁹ curtailed¹⁰ in many parts of the world. Reports from financial capitals suggest the worst of the global credit crunch¹¹ appears to have subsided¹², with banks more willing to make loans to businesses and consumers.

But financial volatility continues. World markets slumped¹³ Wednesday, with shares in Hong Kong falling more than five percent and shares in Tokyo dropping by nearly seven percent. Major European markets finished with similar losses. In New York, Wall Street's main stock index was down about three percent in midday trading, after numerous American companies reported disappointing earnings¹⁴.

Many economists¹⁵ are now openly speaking of the prospect¹⁶ of a global recession. With less economic activity forecast, fuel consumption in the United States and elsewhere is expected to decline, and oil prices are reflecting that expectation. Oil traded at below $70 a barrel Wednesday - less than half the record price of $150 a barrel recorded just a few months ago.

1 mechanisms   

n.机械( mechanism的名词复数 )；机械装置；[生物学] 机制；机械作用

参考例句：

• The research will provide direct insight into molecular mechanisms. 这项研究将使人能够直接地了解分子的机理。 来自《简明英汉词典》
• He explained how the two mechanisms worked. 他解释这两台机械装置是如何工作的。 来自《简明英汉词典》

2 gathering   

n.集会，聚会，聚集

参考例句：

• He called on Mr. White to speak at the gathering.他请怀特先生在集会上讲话。
• He is on the wing gathering material for his novels.他正忙于为他的小说收集资料。

3 volatility   

n.挥发性，挥发度，轻快，（性格）反复无常

参考例句：

• That was one reason why volatility was so low last year.这也是去年波动性如此低的原因之一。
• Yet because volatility remained low for so long,disaster myopia prevailed.然而，由于相当长的时间里波动性小，灾难短视就获胜了。

4 contagion   

n.(通过接触的疾病)传染；蔓延

参考例句：

• A contagion of fear swept through the crowd.一种恐惧感在人群中迅速蔓延开。
• The product contagion effect has numerous implications for marketing managers and retailers.产品传染效应对市场营销管理者和零售商都有很多的启示。

5 inviting   

adj.诱人的，引人注目的

参考例句：

• An inviting smell of coffee wafted into the room.一股诱人的咖啡香味飘进了房间。
• The kitchen smelled warm and inviting and blessedly familiar.这间厨房的味道温暖诱人，使人感到亲切温馨。

6 gatherings   

聚集( gathering的名词复数 )； 收集； 采集； 搜集

参考例句：

• His conduct at social gatherings created a lot of comment. 他在社交聚会上的表现引起许多闲话。
• During one of these gatherings a pupil caught stealing. 有一次，其中一名弟子偷窃被抓住。

7 capitalism   

n.资本主义

参考例句：

• The essence of his argument is that capitalism cannot succeed.他的论点的核心是资本主义不能成功。
• Capitalism began to develop in Russia in the 19th century.十九世纪资本主义在俄国开始发展。

8 prop   

vt.支撑；n.支柱，支撑物；支持者，靠山

参考例句：

• A worker put a prop against the wall of the tunnel to keep it from falling.一名工人用东西支撑住隧道壁好使它不会倒塌。
• The government does not intend to prop up declining industries.政府无意扶持不景气的企业。

9 severely   

adv.严格地；严厉地；非常恶劣地

参考例句：

• He was severely criticized and removed from his post.他受到了严厉的批评并且被撤了职。
• He is severely put down for his careless work.他因工作上的粗心大意而受到了严厉的批评。

10 curtailed   

v.截断，缩短( curtail的过去式和过去分词 )

参考例句：

• Spending on books has been severely curtailed. 购书开支已被大大削减。
• Their public health programme had to be severely curtailed. 他们的公共卫生计划不得不大大收缩。 来自《简明英汉词典》

11 crunch   

n.关键时刻；艰难局面；v.发出碎裂声

参考例句：

• If it comes to the crunch they'll support us.关键时刻他们是会支持我们的。
• People who crunch nuts at the movies can be very annoying.看电影时嘎吱作声地嚼干果的人会使人十分讨厌。

12 subsided   

v.（土地）下陷（因在地下采矿）( subside的过去式和过去分词 )；减弱；下降至较低或正常水平；一下子坐在椅子等上

参考例句：

• After the heavy rains part of the road subsided. 大雨过后，部分公路塌陷了。 来自《简明英汉词典》
• By evening the storm had subsided and all was quiet again. 傍晚， 暴风雨已经过去，四周开始沉寂下来。 来自《现代汉英综合大词典》

13 slumped   

大幅度下降，暴跌( slump的过去式和过去分词 )； 沉重或突然地落下[倒下]

参考例句：

• Sales have slumped this year. 今年销售量锐减。
• The driver was slumped exhausted over the wheel. 司机伏在方向盘上，疲惫得睡着了。

14 earnings   

n.工资收人；利润，利益，所得

参考例句：

• That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
• Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。

15 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

16 prospect   

n.前景，前途；景色，视野

参考例句：

• This state of things holds out a cheerful prospect.事态呈现出可喜的前景。
• The prospect became more evident.前景变得更加明朗了。