Business Channel 2007-11-18&11-20, 中国物价上涨

Rising prices could cause cheap imports from China to become more expensive and this comes as China’s commerce ministry¹ admits that a slowdown in the US could spark a drop in Chinese exports and mark a turning point for China’s economic growth.

Shoppers are rushed to a hospital in Southwestern China after fighting to get their hands on cheap cooking oil at a Carrefour supermarket in Chongqing over a week ago. The price of cooking oil in China is up over a third from last year. The Carrefour bottles had just gone on sale. The supermarket stampede was a second such incident in the country in recent weeks. A sign soaring prices or inflation are fast becoming a headache for Beijing.

High inflation is always a social, a political problem. The reason is because it normally hurt the poor people more because the food prices and so on. And so it’s damaging to social stability. China’s leaders clearly understand the potential problem. High inflation in the 1980s led in part to protest at Tian’anmen square. To help avoid social issues Premier² Wen Jiabao this week visited a district of Beijing promising³ to stabilize⁴ inflation which is now growing at its fastest pace in over a decade. Wen said record-high oil prices and the rising cost of food were largely to blame. Food prices rose eighteen percent in October. Eggs are now fifteen percent more expensive. The price of vegetables is up a third. But the biggest price jump is for pork, by a whopping fifty-five percent in part due to concerns over the meat safety and supply. Some worry the spike⁵ in the food prices could hit other areas of the economy, forcing China to export higher prices to the rest of the world.

In the near term, inflationary problem might push up some of the cost of Chinese products overseas particularly if the currency continues to appreciate.
So far the government has banned price hikes in some industries like energy. It’s also stopped limited time sales promotions⁶ like the one at Carrefour. Most economists⁷ expect China to take more aggressive steps to control inflation, tightening⁸ interest rates and bank lending to make sure its people feel more at peace.

And some economists expect China Central Bank to raise interest rates very soon possibly as early as this weekend.

Notes:

Stampede: A mass impulsive action

 

1 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

2 premier   

adj.首要的；n.总理，首相

参考例句：

• The Irish Premier is paying an official visit to Britain.爱尔兰总理正在对英国进行正式访问。
• He requested that the premier grant him an internview.他要求那位总理接见他一次。

3 promising   

adj.有希望的，有前途的

参考例句：

• The results of the experiments are very promising.实验的结果充满了希望。
• We're trying to bring along one or two promising young swimmers.我们正设法培养出一两名有前途的年轻游泳选手。

4 stabilize   

vt.（使）稳定，使稳固，使稳定平衡；vi.稳定

参考例句：

• They are eager to stabilize currencies.他们急于稳定货币。
• His blood pressure tended to stabilize.他的血压趋向稳定。

5 spike   

n.长钉，钉鞋；v.以大钉钉牢，使...失效

参考例句：

• The spike pierced the receipts and held them in order.那个钉子穿过那些收据并使之按顺序排列。
• They'll do anything to spike the guns of the opposition.他们会使出各种手段来挫败对手。

6 promotions   

促进( promotion的名词复数 )； 提升； 推广； 宣传

参考例句：

• All services or promotions must have an appeal and wide application. 所有服务或促销工作都必须具有吸引力和广泛的适用性。
• He promptly directed the highest promotions and decorations for General MacArthur. 他授予麦克阿瑟将军以最高的官阶和勋奖。

7 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》

8 tightening   

上紧，固定，紧密

参考例句：

• Make sure the washer is firmly seated before tightening the pipe. 旋紧水管之前，检查一下洗衣机是否已牢牢地固定在底座上了。
• It needs tightening up a little. 它还需要再收紧些。