VOA标准英语2009年-Dubai Markets Falter Under Debt Crisis

Financial markets in Dubai and other Arab emirates plunged¹ about seven percent early Monday, with investors² worried about Dubai's ability to pay back $60 billion in debt

Elizabeth Arrott | Cairo 30 November 2009

An Emarati man talks on his mobile phone at the Dubai Financial Market in Dubai, United Arab Emirates, Monday, 30 Nov 2009

Financial markets in Dubai and other Arab emirates dropped about seven percent early Monday, with investors worried about Dubai's ability to pay back $60 billion in debt. 

Both Dubai's and neighboring Abu Dhabi's stock exchanges slid quickly after markets opened.  

It was the first day of trading since state-owned Dubai World asked for a six-month delay in repaying its debts.  The announcement Wednesday came just before the Muslim Eid al-Adha holiday.

The repercussions³ were felt last week in other markets around the world.

But Asian markets Monday were up, following word Sunday that the United Arab Emirates' Central Bank in Abu Dhabi would step in to help Dubai World.

The property company has been hard hit by the global financial and real estate crises, putting on hold many of the grandiose⁴ projects for which Dubai has gained fame. 

Louis Hobeika, an economist⁵ at Lebanon's Notre Dame⁶ University, says one lesson of the crisis should be Dubai's reassessment of its financial limits.

"Dubai had lots of potential, lots of ambition," Hobeika said. "However it has very little, or limited resources to implement⁷ those ambitions or realize them." 

Hobeika says that Dubai will have to downsize its ambitions, and with Abu Dhabi's, and possibly Saudi Arabia's, eventual⁸ help with debt rescheduling, the crisis should soon pass. 

The Emirate's Central Bank has said it will not give an unconditional⁹ bail-out to Dubai World, but look at components¹⁰ of the company to see if they are worth saving.

 

1 plunged   

v.颠簸( plunge的过去式和过去分词 )；暴跌；骤降；突降

参考例句：

• The train derailed and plunged into the river. 火车脱轨栽进了河里。
• She lost her balance and plunged 100 feet to her death. 她没有站稳，从100英尺的高处跌下摔死了。

2 investors   

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

3 repercussions   

n.后果，反响( repercussion的名词复数 )；余波

参考例句：

• The collapse of the company will have repercussions for the whole industry. 这家公司的垮台将会给整个行业造成间接的负面影响。
• Human acts have repercussions far beyond the frontiers of the human world. 人类行为所产生的影响远远超出人类世界的范围。 来自《简明英汉词典》

4 grandiose   

adj.宏伟的，宏大的，堂皇的，铺张的

参考例句：

• His grandiose manner impressed those who met him for the first time.他那种夸大的举止给第一次遇见他的人留下了深刻的印象。
• As the fog vanished,a grandiose landscape unfolded before the tourists.雾气散去之后，一幅壮丽的景观展现在游客面前。

5 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。

6 dame   

n.女士

参考例句：

• The dame tell of her experience as a wife and mother.这位年长妇女讲了她作妻子和母亲的经验。
• If you stick around,you'll have to marry that dame.如果再逗留多一会，你就要跟那个夫人结婚。

7 implement   

n.(pl.)工具，器具；vt.实行，实施，执行

参考例句：

• Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。
• The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。

8 eventual   

adj.最后的，结局的，最终的

参考例句：

• Several schools face eventual closure.几所学校面临最终关闭。
• Both parties expressed optimism about an eventual solution.双方对问题的最终解决都表示乐观。

9 unconditional   

adj.无条件的，无限制的，绝对的

参考例句：

• The victorious army demanded unconditional surrender.胜方要求敌人无条件投降。
• My love for all my children is unconditional.我对自己所有孩子的爱都是无条件的。

10 components   

（机器、设备等的）构成要素，零件，成分； 成分( component的名词复数 )； [物理化学]组分； [数学]分量； （混合物的）组成部分

参考例句：

• the components of a machine 机器部件
• Our chemistry teacher often reduces a compound to its components in lab. 在实验室中化学老师常把化合物分解为各种成分。