VOA常速英语2015--中国股市动荡不可能蔓延海外

（单词翻译）

中国股市动荡不可能蔓延海外

While China’s recent stock market chaos¹ has pushed down stock and commodity prices in other nations, the impact on the global economy may be limited. Some foreign experts worry, however, that strong Chinese government efforts to calm markets could set back needed economic reforms in that nation.

Chinese stock markets have fallen sharply, though they have recovered somewhat after government intervention² that blocked some trades and encouraged others.

中国股市急剧下跌，尽管在政府阻扰一些交易并鼓励其他交易后，股市已有所恢复。

People with stock accounts in China are worried. This investor³ has years of experience, but now feels nervous all over and wondered how can we stand it.

中国有股票账户的人很担心，这位投资者已有多年的经验，但她仍很紧张，不知道如何应对。

Lew weighs in

U.S. Treasury⁴ Secretary Jack⁵ Lew said strong government control over markets can hamper⁶ the economy, but he says it also means China will probably not export its problems to other nations.

美国财长杰克·卢称政府对市场的有力控制可能会有损经济，但他说这也意味着中国可能不会将自身的问题转移到其他国家。

“China’s markets are still pretty much separated from world markets," he said. "They are obviously moving toward being more integrated, but right now, they are not."

“中国市场仍在很大程度上与世界世界相隔离，尽管有一体化的趋势，但目前还没有连成一体。”

Derek Scissors says there are fewer links between China’s stock market and its core economy than there are in other nations.

德里克·希瑟尔说，与其他国家相比，中国的股市与其核心经济之间的联系较少。

“Ninety million people have stock accounts, which sounds like a lot until you remember that’s 1.3 billion that don’t have stock accounts," he said.

“9000万人有股票账户，这听起来很多，但要明白仍有13亿人口没有股票账户。”

Rising stock prices make investors⁷ feel wealthy, sparking consumer spending and economic growth. Falling prices cut this growth. But in China this “wealth effect” is limited by the small proportion of the population that holds stocks.

股价的上涨让投资者感到自己富裕了，这就促进了消费开支和经济发展。而股价的下跌则令这种发展中断，但在中国，这种“财富效应”仍受到持股人群的小比例所限。

Speaking via Skype, PNC Bank Economist⁸ Bill Adams said there is a “limited” correlation⁹ between stocks and growth in China, growth is slowing but remains¹⁰ strong.

PNC银行经济学家比尔·亚当斯通过Skype接受了采访，他说在中国，股市和发展之间的关联很“有限”，发展很缓慢，但仍很强劲。

“We are still expecting real GDP growth of between 6 and a 7.5 percent in 2015," he said.

“我们预测2015年GDP的实际增长仍在6%到7.5%之间。”

Consumer shift

China is changing slowly from a heavily centralized industrial economy to a more market- and consumer-oriented one.

中国在从一个高度集中的工业经济向更市场化和以消费者为导向经济的缓慢转变。

Secretary Lew worries that market turmoil¹¹ could derail reforms that could help growth.“ It will lead to slower but hopefully a sustainable level of growth, which will also improve the economic conditions for Chinese people and be a boost to the global economy."

财长杰克·卢担心市场动荡会令原本有利于发展的改革偏离方向，“这将导致更缓慢且可能有持续性的发展，这将改善中国人的经济条件，并促进全球经济。”

So Lew said it is critical for Beijing to respond to stock turmoil in ways that make the economy more market-oriented. But Scissors said right now, China is headed in the other direction.

所以卢说，关键是北京能采取措施对股市动荡做出应对，使得经济更具有市场导向。但希瑟尔说目前，中国正在向其他方向发展。