独家权威震撼发布：张中宁主编《最新西方报刊经贸文章选读》课后作业答案Lesson11

KEY TO EXERCISES Section A: Text Comprehension

I. Reference Answers to Pre-reading Questions:

1. US president Barack Obama and other leaders come to the Excel Centre on Tuesday for the

oncoming Group of 20 summit, they assemble in an effort to rescue a shipwrecked world economy (Para 1).

2. To handle the current crisis, policymakers and regulators agree to take some financial

regulation to prevent the current crisis from recurring (Para2-5).

3. Yes. One particular difficulty is that governments will have to decide how public money will

be deployed in future when it is necessary to save complex, cross-border financial institutions. If politicians fail to address that head-on, large banks with operations in multiple countries may soon be a distant memory (Para 9).

4. The author thinks that such co-operation between regulators does not work because they

cannot come to an agreement on who should pay the bill (Para18).

5. The author concludes the report in Para 27-31. The conclusion is that global financial system

forged by deregulation underpinned by a belief in free markets failed, and the task now is to prove it can be set running again with better brakes and steering.

Section B: Exercises

I. Vocabulary Buildup

Choose the best equivalent word or phrase from the four choices marked A, B, C and D for each underlined word or phrase in the following sentences.

1. C 2. D 3. B 4. C 5. B 6. B 7. C 8. D 9. D 10. C 11. C 12. C 13. B 14. B

II. Business Terms

1. Give the Chinese equivalents of the following business terms and expressions which

would be found in the given paragraphs of the text. 1). 金融监管 6). 业务种类 2). 安全系统 7). 小额银行（存放）业务 3). 监管范围 8). 财务主管 4). 具有自我调控能力的理性市场 9). 流动资产 5). 金融机构 10). 独立分公司

2. Give the English Equivalents of the following Business terms and expressions which

would be found in the given paragraphs of the text. 1). political agenda 4). financial innovation 2). ratings agencies 5). risk management 3). central clearing and settlement 6). financial services

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7). failing banks 8). pay the bill

9). finance ministers

10). national pools of liquidity

III. Text Comprehension

Answer the following questions according to the text.

1. Central to the Group of 20 summit of industrialised and developing countries will be the

question of whether the chaotic system of finance that swept the globe over the past two decades can be controlled. [Para 2].

2. Both simile and metonymy are used in this paragraph. Metaphor: whether the chaotic system

of finance that swept the globe over the past two decades can be controlled. Simile: It is the equivalent of installing seatbelts, airbags and anti-lock brakes on cars that have just been involved in a head-on collision. Metaphor: If they succeed, driving should become safer. Metaphor: But some motorists may forsake the highway for slower country lanes. [Para 2] 3. Recent reports from the Working Group on Financial Reform led by Paul Volcker, the former

Federal Reserve chairman; the group chaired by Jacques de Larosière, former governor of the Banque de France; and the report from Lord Turner, chairman of Britain’s Financial Services Authority, display a remarkable consensus on the areas most in need of an overhaul. [Para 5]. 4. The authors here refer to the authors of the recent reports from the Working Group on

Financial Reform and Lord Turner who made another report [Para 5& 7].

5. Because the regulators realize that the market cannot be counted on to limit excess, just as

Lord Turner says, “The financial crisis has challenged the intellectual assumptions on which previous regulatory approaches were largely built, and in particular the theory of rational and self-correcting markets” [Para 7].

6. In an effort to minimise the cost of future bail-outs, regulators are seeking far-reaching powers

to close failing banks in an orderly way. [Para 14].

7. The lesson they learn is that as a financial regulator, a government could afford a bail-out of

such scale. So across the rest of the developed world, policymakers are urgently discussing how they would respond if a large institution that happens to be headquartered somewhere else got into trouble [Para 16].

8. Because such cross-border co-operation between regulators is incomplete without some

agreement on who should pay the bill [Para 18-19].

9. No, it is not practical, for it is almost impossible to get elected governments to sign up to such

a commitment in advance [Para 21].

10. The most likely outcome is that decades of global financial integration begin to unravel [Para

22].

11. Far from worrying that banks have become “too big to fail”, governments in the US and UK

have encouraged groups such as Bank of America and Lloyds TSB to take over failing institutions, which infected the purchasers with the same disease, forcing even larger banks into state arms. In addition, the demand for powers to wind down large financial institutions is at odds with promises by ministers that they will not allow another big bank to fail.

12. Because by the end of the week, the world will find answer from the G20 Summit. [Para

29-30].

IV. Interactive Brainstorming

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Discuss with your partners the following questions based on your understanding of the text as well as on your own knowledge and ideas. (Omitted)

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