VOA标准英语2009年-India's Slowing Economy Takes Toll on Jobs, Inv

After five years of runaway¹ growth, India's economy is slowing down, as the global financial crisis begins to take a toll² on emerging economies. The economic meltdown is affecting everyone - from young people waiting to enter the work force, to investors⁴ hit hard by the huge decline in stock market.
　
Recruiter interviews potential employees (file photo)

When 18-year-old Anmol decided⁵ to enroll⁶ in an institute which trains air hostesses, she was confident she would easily pick up a job in India's booming aviation industry. In recent years, new airlines mushroomed, snapped up jets and offered bargain flights to cater⁷ to a growing middle class.

But her optimism vanished when the aviation sector⁸ began piling up huge losses because of falling demand. In recent months, many airlines have cut operations, stopped recruiting and trimmed wages.

For Anmol, her goal of becoming an air hostess suddenly seems difficult to achieve.

"Worrying matter is that they are already removing their staff, then how can they recruit new staff(s)? Then there will be no new vacancies⁹ and there will be no replacements¹⁰. What will happen I don't know," she said.

The drying up of job opportunities has come as a rude shock in a country where industries were on an aggressive hiring spree for the last three years.

From the booming information technology sector to a nascent¹¹ retail¹² sector, skilled employees were in huge demand. Companies handed out massive pay hikes to prevent employees walking off to rival companies, as tens of thousands of new jobs were created.

But, as the chill winds from the global financial crisis begin to blow across India, profits of many sectors¹³ - from financial to real estate - have dipped, prompting them to lay off staff. There are worries that more jobs may be lost, as industries downsize or halt plans to expand.

Economist¹⁴ Saumitra Chaudhuri, a member of the prime minister's Economic Advisory¹⁵ Council, says such concerns are triggered by fears that the high growth witnessed in recent years has been hit by the global economic crisis.

"I think the government has some concerns that the cumulative¹⁶ effects of slowdown elsewhere and the depressed¹⁷ market sentiment will adversely¹⁸ affect investors and consumers in a way where growth may actually tank [collapse]," Chaudhuri said.

India has virtually no exposure to the mortgage-backed securities that spawned¹⁹ the current financial crisis, but its economy has not been spared. Credit has become tight, the local currency has plunged²⁰ and stocks have lost more than half their value in the last year, as foreign investors have pulled their money out.

The stock market crash has hit hard tens of thousands of middle class investors.

Three years ago, 68-year-old Varun Mehta diverted much of his savings²¹ to the market, as stocks went up headily. Domestic industries were expanding, multinational²² giants were investing millions of dollars and economic growth was close to nine percent. But, now, much of Mehta's savings have evaporated.

"For a retired²³ person, specially²⁴, it has come has a very serious blow in the sense that while the capital values have come down, the incomes from dividends²⁵, et cetera, has also come down very rapidly. So it has really affected²⁶ your income in a large way," Mehta said.

The government is reassuring²⁷ people that the problems will be temporary. Former Finance Minister P. Chidambaram says the economy may not grow as rapidly as in recent years, but it will still expand at a faster rate than in Western nations.

"While we will be affected by the global meltdown, in the case of India, it will only amount to a slowdown and not a recession," he explained. "Given what is happening in the rest of the world, a growth rate of between seven and eight percent should be satisfactory."

The government has taken several measures to revive consumer and investor³ confidence, to ensure that growth stays on track. It has cut taxes, lowered interest rates and fuel prices and announced big spending on infrastructure²⁸ projects.

Economist Saumitra Chaudhuri says India's economy is still strong and unaffected by problems which beset²⁹ the developed world.

"If you look at our corporates, they are not very stressed," Chaudhuri said. "If you look at banks there are few with non-performing loans, if you look at individual household balance sheets, they don't have too much debt…most of the sectors are reasonably strong."

Analysts³⁰ say these factors will ensure that high economic growth in India will revive sooner, rather than later. Both 18-year-old Anmol and 68-year-old Mehta are hoping such forecasts come true.

1 runaway   

n.逃走的人，逃亡，亡命者；adj.逃亡的，逃走的

参考例句：

• The police have not found the runaway to date.警察迄今没抓到逃犯。
• He was praised for bringing up the runaway horse.他勒住了脱缰之马受到了表扬。

2 toll   

n.过路(桥)费；损失，伤亡人数；v.敲(钟)

参考例句：

• The hailstone took a heavy toll of the crops in our village last night.昨晚那场冰雹损坏了我们村的庄稼。
• The war took a heavy toll of human life.这次战争夺去了许多人的生命。

3 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

4 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

5 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

6 enroll   

v.招收；登记；入学；参军；成为会员（英)enrol

参考例句：

• I should like to enroll all my children in the swimming class.我愿意让我的孩子们都参加游泳班。
• They enroll him as a member of the club.他们吸收他为俱乐部会员。

7 cater   

vi.(for/to)满足，迎合；(for)提供饮食及服务

参考例句：

• I expect he will be able to cater for your particular needs.我预计他能满足你的特殊需要。
• Most schools cater for children of different abilities.大多数学校能够满足具有不同天资的儿童的需要。

8 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

9 vacancies   

n.空房间( vacancy的名词复数 )；空虚；空白；空缺

参考例句：

• job vacancies 职位空缺
• The sign outside the motel said \"No Vacancies\". 汽车旅馆外的招牌显示“客满”。 来自《简明英汉词典》

10 replacements   

n.代替( replacement的名词复数 )；替换的人[物]；替代品；归还

参考例句：

• They infiltrated behind the lines so as to annoy the emery replacements. 他们渗透敌后以便骚扰敌军的调度。 来自辞典例句
• For oil replacements, cheap suddenly looks less of a problem. 对于石油的替代品来说，价格变得无足轻重了。 来自互联网

11 nascent   

adj.初生的，发生中的

参考例句：

• That slim book showed the Chinese intelligentsia and the nascent working class.那本小册子讲述了中国的知识界和新兴的工人阶级。
• Despite a nascent democracy movement,there's little traction for direct suffrage.尽管有过一次新生的民主运动，但几乎不会带来直接选举。

12 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

13 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

14 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。

15 advisory   

adj.劝告的，忠告的，顾问的，提供咨询

参考例句：

• I have worked in an advisory capacity with many hospitals.我曾在多家医院做过顾问工作。
• He was appointed to the advisory committee last month.他上个月获任命为顾问委员会委员。

16 cumulative   

adj.累积的，渐增的

参考例句：

• This drug has a cumulative effect.这种药有渐增的效力。
• The benefits from eating fish are cumulative.吃鱼的好处要长期才能显现。

17 depressed   

adj.沮丧的，抑郁的，不景气的，萧条的

参考例句：

• When he was depressed,he felt utterly divorced from reality.他心情沮丧时就感到完全脱离了现实。
• His mother was depressed by the sad news.这个坏消息使他的母亲意志消沉。

18 adversely   

ad.有害地

参考例句：

• We commented adversely upon the imbecility of that message of telegraphic style. 我们对着这条电报式的愚蠢的留言发泄了一通不满。
• Widely fluctuating exchange rates may adversely affect international trade. 浮动幅度很大的汇率可能会对国际贸易产生有害的影响。

19 spawned   

（鱼、蛙等）大量产（卵）( spawn的过去式和过去分词 )； 大量生产

参考例句：

• The band's album spawned a string of hit singles. 这支乐队的专辑繁衍出一连串走红的单曲唱片。
• The computer industry has spawned a lot of new companies. 由于电脑工业的发展，许多新公司纷纷成立。

20 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。

21 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

22 multinational   

adj.多国的，多种国籍的；n.多国籍公司，跨国公司

参考例句：

• The firm was taken over by a multinational consulting firm.这家公司被一个跨国咨询公司收购。
• He analyzed the relationship between multinational corporations and under-developed countries.他分析了跨国公司和不发达国家之间的关系。

23 retired   

adj.隐退的，退休的，退役的

参考例句：

• The old man retired to the country for rest.这位老人下乡休息去了。
• Many retired people take up gardening as a hobby.许多退休的人都以从事园艺为嗜好。

24 specially   

adv.特定地；特殊地；明确地

参考例句：

• They are specially packaged so that they stack easily.它们经过特别包装以便于堆放。
• The machine was designed specially for demolishing old buildings.这种机器是专为拆毁旧楼房而设计的。

25 dividends   

红利( dividend的名词复数 )； 股息； 被除数； （足球彩票的）彩金

参考例句：

• Nothing pays richer dividends than magnanimity. 没有什么比宽宏大量更能得到厚报。
• Their decision five years ago to computerise the company is now paying dividends. 五年前他们作出的使公司电脑化的决定现在正产生出效益。

26 affected   

adj.不自然的，假装的

参考例句：

• She showed an affected interest in our subject.她假装对我们的课题感到兴趣。
• His manners are affected.他的态度不自然。

27 reassuring   

a.使人消除恐惧和疑虑的，使人放心的

参考例句：

• He gave her a reassuring pat on the shoulder. 他轻拍了一下她的肩膀让她放心。
• With a reassuring pat on her arm, he left. 他鼓励地拍了拍她的手臂就离开了。

28 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

29 beset   

v.镶嵌；困扰，包围

参考例句：

• She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
• The plan was beset with difficulties from the beginning.这项计划自开始就困难重重。

30 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。