- •Экономический английский
- •Contents
- •Раздел 1……………………………………………………………………..450
- •Раздел 2…………………………………………………………………..…455
- •Раздел 3……………………………………………………………………..473 Предисловие
- •Методическая записка
- •Part 1 Unit 1
- •1. Business Is Booming Almost Everywhere
- •Vocabulary:
- •2. Lada Can Hear Its Rivals Gaining AvtoVaz' dominance faces a serious threat as foreign car plants spring up in Russia
- •Slow off the mark
- •Vocabulary:
- •3. Can Stringer stop Sony malfunctioning?
- •Vocabulary:
- •4. Carmakers Eye Romania Factory
- •Vocabulary:
- •5. Privatisation Plan for Swisscom
- •Vocabulary:
- •6. Siemens Steps up China Growth
- •Vocabulary:
- •7.Hsbc usa Posts Robust Earnings
- •8.Hidden Value Let Loose Chipmaker Freescale, spun from Motorola, is a prime example of the power of spin-offs
- •9. Philip Morris Moves To Boost Food Unit
- •10. Japanese May Aid Chemicals Industry
- •12. Azucarera Agrees To Acquire Puleva In 590 Million Deal
- •14.Poison Pill Defence For News Corp
- •Part 1 Unit 2
- •Section 1 producing the goods lead-in
- •15. Japan's Production Increases But Analysts Expect Slowdown Soon
- •Vocabulary:
- •16. Manufacturing And the Price of Outsourcing
- •Vocabulary:
- •17.JpMorgan Steps up Indian Offshoring
- •Vocabulary:
- •Section 2 costs and expenses, economies of scale
- •18. Eu Farm Agreement Reached, But Budget Questions Linger
- •Vocabulary:
- •19. Hitachi Raises Flat-panel tv Profile
- •Vocabulary:
- •20. Honda's 2nd Quarter Net Fell 8.5%
- •Vocabulary:
- •21. Ford Posts Record Results in Third Quarter
- •Vocabulary:
- •22. Ericsson Upbeat Despite Drop in Profits
- •Vocabulary:
- •Vocabulary
- •23. Latin America Starts to Compete
- •Its businesses are in better shape than its balance of payments might suggest
- •Vocabulary:
- •24. Bankless Banking
- •Vocabulary:
- •Stolen Jobs?
- •Vocabulary:
- •Part 1 Unit 3
- •Section 1 key economic indicators lead-in
- •Vocabulary
- •Vocabulary practice
- •Texts to translate:
- •25. Eurozone Recovery Boosts Confidence
- •Vocabulary:
- •26. Is the u.S. Current Account Deficit Sustainable?
- •Vocabulary:
- •27. Data Show Europe's Economies Are on Separate Paths
- •Vocabulary:
- •28. Dormant for Now, Inflation Shows Signs of Awakening
- •Vocabulary:
- •29. Will This Slowdown Be Satisfactory?
- •Vocabulary:
- •Section 2 boom and bust lead-in
- •Vocabulary
- •Vocabulary practice
- •Texts to translate:
- •30. Losing Balance and Monentum?
- •Vocabulary:
- •31.The Next Downturn
- •Vocabulary:
- •32. The Economy Is Too Darn Hot
- •Vocabulary:
- •Section 3 record highs and record lows; ups and downs lead-in
- •These words are used to talk about prices when they rise by larger amounts or increase quickly or sharply: jump, leap, roar ahead (up), rocket, shoot ahead (up), skyrocket, soar, surge (ahead);
- •Vocabulary
- •Vocabulary practice
- •33. Russia's booming economy
- •It's not about just oil and gas
- •Saving and spending
- •Home grown
- •Too fast to last
- •Vocabulary:
- •34. Euro-Zone Prices May Heat Up Soon
- •Vocabulary:
- •35. Rise In Orders Fails to Lift Economy Gloom
- •Section 4 money management lead-in
- •Vocabulary
- •Vocabulary practice
- •Texts to translate:
- •36. Tightening Has Begun To Take Hold
- •Vocabulary:
- •37. From t-shirts to t-bonds
- •Vocabulary:
- •38. G7 Cautions on Inflationary Pressures
- •Vocabulary:
- •39. Bank of Japan Pressed to Ease Monetary Policy
- •Vocabulary:
- •40. Fed Report Shows Economy Remains Robust
- •Vocabulary:
- •The Asian Crash
- •Vocabulary:
- •Part 1 Unit 4
- •Section 1 sellers, buyers, consumers, and key players lead-in
- •Vocabulary
- •Vocabulary practice
- •Texts to translate:
- •41. From Market Driven to Market Driving
- •Vocabulary:
- •42. Cadbury Shakes up Its us Drinks
- •Vocabulary:
- •Section 2 marketing mix and target markets lead-in
- •Vocabulary
- •Vocabulary practice
- •Texts to translate:
- •43. Saturated Retail Market Could Limit Expansion
- •44. Mobile Market Expanding Rapidly in India Country adding five million new wireless connections per month
- •Vocabulary:
- •Section 3 products, services and brands; upmarket and downmarket lead-in
- •Vocabulary
- •Vocabulary practice
- •Texts to translate:
- •45. Lg's White-Hot White Goods
- •Vocabulary:
- •46. A Brand New Opportunity In the Empty Nest
- •Vocabulary:
- •47. Everybody Loves a Winner — or do they?
- •Section 4 advertsing and promotion lead-in
- •Vocabulary
- •Vocabulary practice
- •Texts to translate:
- •48.Colgate Glides Past Stumbling Competitors
- •Vocabulary:
- •49. Electrolux Blames Fall on Paranoia
- •Vocabulary:
- •Chinese Imports Prompt Posco Discounts
- •Part 1 Unit 5
- •Financial instruments and stock exchanges section 1 raising finance lead-in
- •Texts to translate:
- •50. Stocks in trade
- •Vocabulary:
- •51. Ipsen ipo marks Paris high point
- •52. Swiss Machine Tool Group in ipo
- •Section 2 market players. Trading on the markets lead-in
- •53. Siemens Seeks us Expansion as adRs Launch
- •Vocabulary:
- •54. Bear Markets
- •Vocabulary:
- •Section 3 unveiling results lead-in
- •54. Russian Stocks Climb to Record
- •55. Treasury Prices Fall as Investors Return to Stocks Rally in Equities Markets Puts Pressure on Bonds
- •Vocabulary:
- •Vocabulary:
- •Section 4 derivatives lead-in
- •Vocabulary practice
- •Text to translate:
- •57. Future Perfect
- •Vocabulary:
- •Section 5 wrongdoing, corruption, insider dealing lead-in
- •Vocabulary practice
- •Text to translate:
- •58. Soros found guilty of insider trading
- •59. Toyota Faces Insider Trading Probe Around Share Buyback
- •Vocabulary check
- •Investors shun Fibernet after rights issue
- •1. What was the strategic decision that required the capital Fibernet raised from the rights issue?
- •2. Using evidence from the text and your own knowledge, explain why you think that Fibernet used a rights issue of shares rather than taking out long-term loans.
- •3. Examine the likely reaction of shareholders to this financing decision in:
- •Vocabulary revision – unit 5
- •Part 1 Unit 6
- •Section 1 types of accounting and the basic accounting equation lead-in
- •Vocabulary
- •60. The Power of Four
- •Imbalance sheet
- •Vocabulary:
- •Section 2 the balance sheet
- •Balance Sheet for Wal-Mart
- •61. Bank Reform in Japan
- •Vocabulary:
- •62. Asset Finance
- •Vocabulary:
- •Section 3 financial statements and the bottom line lead-in
- •63. Strong Fundamentals and Fundamental Analysis
- •Vocabulary:
- •Section 4 bankruptcies lead-in
- •Vocabulary
- •64. Bankruptcies reach another record
- •Vocabulary:
- •65. Bad Debts Build up at Lloyds tsb
- •66. Poor Planning
- •Vocabulary:
- •67. Turkey Outlines New Package of Radical Structural Reforms
- •Vocabulary:
- •Europe's Enron
- •Part 1 Unit 7
- •Section1 company structure lead-in
- •68. Tough at the top
- •Vocabulary:
- •69. Fit for Hiring? It’s Mind Over Matter
- •Vocabulary:
- •70. The Truth About Work
- •Vocabulary:
- •71. The new global shift
- •Vocabulary:
- •72. Firing the Boss
- •Vocabulary:
- •73. In the money
- •Vocabulary:
- •74. The rewards of failure
- •75. Executive Pay Soars But May Have Peaked
- •Mitsubishi Motors to rejig structure
- •Part 1 Unit 8
- •76. The physical internet
- •21St-century clippers
- •77. Negotiation Strategies
- •Vocabulary:
- •Troubled Waters
- •Part 1 Unit 9
- •78. Royal Insurance
- •Vocabulary:
- •79. Insuring for the future?
- •80. Papers, papers everywhere
- •Shop Around for the Best Car Insurance
- •Vocabulary:
- •Методические рекомендации
- •Основы реферирования и аннотирования. Практические рекомендации
- •Part 2 Unit 1
- •One world?
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make an annotation on the text. Expand the debate on globalisation
- •Vocabulary:
- •1. Read the text and outline the key points.
- •2. Translate the text.
- •3. Make a précis and an annotation on the text. Global capitalism, r.I.P.?
- •Vocabulary:
- •«Globalisation»
- •Part 2 Unit 2
- •Trade winds
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make an annotation on the text. The Harsh Truth About Outsourcing
- •It’s not a mutually beneficial trade practice – it’s outright labor arbitrage
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make a précis and an annotation on the text. The race for the bottom
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make a précis and an annotation on the text. Spoiling world trade
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make an annotation on the text. Nothing’s free in this world
- •Vocabulary:
- •«World Trade»
- •Part 2 Unit 3
- •Bearing the weight of the market?
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make a précis and an annotation on the text. The future of the state
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make an annotation on the text. Are the poor different?
- •Vocabulary:
- •1. Translate the text.
- •2. Make a précis and an annotation on the text. Globalisation and tax
- •Shopping around
- •Vocabulary:
- •1. Translate the text.
- •2. Make an annotation on the text.
- •Inflation is dead
- •Vocabulary:
- •«Inflation»
- •Part 2 Unit 4
- •The “euro”
- •Vocabulary:
- •1. Translate the text.
- •2. Make an annotation on the text. Asking for trouble
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make an annotation on the text. The Perils of Partnership
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make a précis and an annotation on the text. Euro Blues
- •In search of reality
- •Vocabulary:
- •«Europe. Economic and Monetary Union» Topics for discussion
- •Part 2 Unit 5
- •Worldbeater, inc.
- •Vocabulary:
- •1. Translate the text.
- •2. Make an annotation on the text. Behind america’s small business success story.
- •Vocabulary:
- •1. Translate the text.
- •2. Make an annotation on the text. Thoroughly modern monopoly
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make a précis and an annotation on the text.
- •Vocabulary:
- •«Business and Businesses» Topics for discussion
- •Part 2 Unit 6
- •Instant coffee as management theory.
- •Vocabulary:
- •1. Translate the text.
- •2. Make an annotation on the text. Why too many mergers miss the mark
- •Vocabulary:
- •1. Read the text and answer the questions on it:
- •2. Make a précis and an annotation on the text. Johannesburgers and fries.
- •Vocabulary:
- •«Management. Marketing». Topics for discussion
- •Part 2 Unit 7
- •A smoother ride, but less fun
- •Vocabulary:
- •1. Translate the text.
- •2. Make an annotation on the text. Dancing in Step
- •Individual stockmarkets are increasingly being driven by global rather than local factors
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make an annotation on the text.
- •Investors in south-east asian equities
- •Vocabulary:
- •1. Read the text and outline the key points.
- •2. Translate the part “Do you want to be in my band?” from English into Russian.
- •3. Make a précis and an annotation on the text. Fixed and floating voters
- •Vocabulary:
- •1. Translate the text.
- •2. Make an annotation on the text. The uneasy crown
- •Making their case
- •Old hands
- •When the credit stops
- •Vocabulary:
- •«Financial Markets». Topics for discussion
- •Part 2 Unit 8
- •How safe is your bank?
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make a précis and an annotation on the text. The Collapse of Barings
- •Vocabulary:
- •1. Read the text and outline the key points.
- •2. Translate the part “Liquid refreshments” from English into Russian.
- •3. Make a précis and an annotation on the text. Central banks on the trail of the mutant inflation monster
- •Vocabulary:
- •1. Read and translate the text.
- •2. Make a précis and an annotation on the text. Monopoly Power Over Money
- •Vocabulary:
- •1. Read the text and outline the key points.
- •2. Translate the part “Spot the trend” from English into Russian.
- •3. Make a précis and an annotation on the text. The lloyds money machine
- •Vocabulary:
- •1. Read the text and outline the key points.
- •2. Translate the part “Old news” from English into Russian.
- •3. Make a précis and an annotation on the text. Rattling the piggy bank
- •Vocabulary:
- •Лексико-грамматические трудности перевода экономических текстов с английского языка на русский.
- •Лексико-грамматические трудности перевода экономических текстов с английского языка на русский.
- •Методическая записка
- •Раздел 1. Сущность процесса перевода. Словарь и словарные соответствия. Узкий и широкий контекст.
- •Раздел 1
- •Раздел 1
- •§1 Определение перевода
- •§2 Словарь и словарные соответствия
- •§3 Узкий и широкий контекст
- •Раздел 2
- •Раздел 2
- •§1 Перевод некоторых категорий слов
- •1.1 Термины
- •1.2 Сложные слова
- •1.3 Неологизмы
- •1.4 Имена собственные и географические названия
- •1.5 Названия организаций, учреждений, компаний и их сокращения
- •1.6 Интернациональные слова. Псевдоинтернациональные слова. Понятие коннотации слова
- •§2 Перевод сложных атрибутивных конструкций
- •§3 Перевод заголовков
- •§ 4 Лексические трансформации в процессе перевода
- •4.1 Дифференциация и конкретизация значений
- •4.2 Генерализация значений
- •4.3 Смысловое или логическое развитие при переводе
- •4.4 Антонимический перевод
- •4.5 Добавления и опущения слов в процессе перевода
- •§ 7 Способы передачи некоторых стилистических особенностей в процессе перевода
- •Раздел 3
- •§ 1 Выбор грамматической конструкции при переводе
- •§ 2 Порядок слов
- •§3 Модальные и вспомогательные глаголы
- •3.1 May (might)
- •3.2 Must
- •3.3 Should
- •3.5 Have to
- •3.6 Can (could)
- •§4 Инфинитив
- •4.1 Инфинитив в различных функциях
- •4.2 Инфинитивные конструкции
- •§ 5 Герундий
- •5.1 Герундий в функции обстоятельства
- •5.3 Герундиальный комплекс
- •§6 Причастие
- •6.1 Причастие в различных функциях
- •6.2 Причастные конструкции
- •6.3 Абсолютная причастная конструкция с предлогом with
- •6.4 Причастие в функции союзов и предлогов
- •§7 Страдательный залог (пассив)
- •§ 8 Оборот it is (was)… who (that, when и т.Д.)
- •§ 9 Служебные слова
- •9.1 Since
- •9.2 While
- •9.5 Once
- •9.6 Well
- •§ 10 Артикль
- •10.1 Определенный артикль
- •10.2 Неопределенный артикль
- •§ 11 Сослагательное наклонение
- •§12 Эллиптические конструкции
- •§ 13 Обзорные упражнения
- •Список использованной литературы
§ 13 Обзорные упражнения
Translate the following sentences:
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To gauge this risk, it is important to start by distinguishing between cause and effect. The links between the two can be hard to sort out. |
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To ignore the threat that a slump in share prices poses to the economy would be far too sanguine. |
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The number of Japanese cars exported could well drop, yet their total value still rise. |
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At the end of the G-7 meeting, the Canadian Prime Minister tried to buy a little more time. While he promised to consult his Cabinet about changes in policy when he returns from Europe, he said action would await the U.S. response to the summit. |
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Smaller producers have fallen behind since state monopolies took over oil production, and now need western help simply to remain self-sufficient. |
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Although Cabinet members have been sending out signals that wage restraint of some sort will be imposed on the federal public service, the Government has little stomach for a full blown system of wage and price controls. |
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The Prime Minister promised a shift in economic policy, but there have been few signs that the Government has any new ideas about how to respond to the crisis. |
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With the Canadian economy turning in its worst performance since the Great Depression, the Prime Minister faces a daunting task when he returns from his European trip on Sunday. |
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This year has seen duties on aluminum from Russia and - bizarrely, given that the company involved is controlled by unsubsidised foreign investors - on mountain-bikes from China. |
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But in the past his governments have shown little ability to achieve such laudable, if obvious, objectives in policy. |
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The Commerce Department announced revisions for its November trade report, which was released last month. November exports, which originally had been reported as $ 37.5 billion, were revised to $ 36.9 billion. The figures are seasonally adjusted. |
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Nissan Japan's second biggest car maker recently raised Y 51 billion ($ 500 m) by dumping its stake in Yasuda Trust Bank. |
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Australia's new Prime Minister (the former Treasurer) must share responsibility for the current slump. |
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We should judge presidents for what they can change, and their powers over the economy range from modest to nonexistent. |
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What is good for euro-land as a whole, however, may not be right for its constituent parts. |
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The economy appears to have grown at an annual rate of 3% or better during the second half of the year. |
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Many people also worry about another potential risk: that a stockmarket crash would have substantial "wealth effect" on consumers. Because so many households own shares, the argument goes, a drop in the stockmarket would take a bite out of many families' wealth. |
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Although Americans now do much of the hand-wringing about competitiveness, it is Europeans who have more to worry about. |
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Today many of the firms struggling to survive in the young AI (artificial intelligence) industry predict its imminent disappearance. They may well be right. |
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Even the recent adjustments to the taxation and price regime for the oil industry, while welcomed for the resulting C $ 2 bn improvement in industry cash flow, confirmed doubts in many minds that the Government had not understood what was happening in that vital sector. |
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Since these profits are closely tied to the economy's health, a plunge in share prices may occur because the economy's prospects have grown bleaker, and not the other way round. |
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This financial straitjacket leaves Ottawa with little room to find funds for job creation. |
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With his credibility and perhaps his career at stake General Motors's chairman told workers: "The North American automotive industry sustained losses unparalleled in its history. GM is taking aggressive action to reverse this trend and increase its competitiveness". |
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Even before its most recent fall, the dollar was substantially undervalued in terms of its international purchasing power - suggesting that if nothing else happens it will eventually rise again. |
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Yet last year the core European countries maintained tight monetary and fiscal policies. As it feeds through to the economy this year, that tightening will restrict growth. Now, if anything, the core needs lower interest rates to make sure its recovery does not falter. |
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The decline in exports was concentrated in capital goods, consumer goods and autos. |
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The case that the president engineered the recovery rests on the argument that the deficit reduction gave the economy an extra boost by lowering interest rates. |
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To win economically again, Japan must liberalize and democratize its society and its economy. The old ways won't work anymore. |
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What if economy starts overheating? Then - or preferably even before - the chancellor should listen to the Bank of England and increase interest rates. |
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Eleven European economics have converged enough to merge their currencies into one, but a single monetary policy may not fit all. |
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And it was America that persuaded South Korea and other Asian countries to begin to open up their capital markets, and discouraged them from pegging their currency to the dollar. |
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Short-term interest rates rose by about a quarter of a point, while budgets were squeezed by around 1% of GDP |
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Investor, business and consumer confidence has eroded steadily since last November, when the Finance Minister introduced his controversial budget. |
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The Chancellor, paints a golden scene: rising investment, a falling balance of payments deficit, stable inflation and, with buoyant tax receipts and higher-than-expected receipts from privatisation, a reduction in public borrowing. |
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Inspired by the anniversary of the Bretton Woods conference, the case for a new system of exchange-rate coordination is again being debated. |
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A separate release of January's money supply figures from the Bank of England showed the narrow M0 aggregate growing at an annual rate of 2.2%. The aggregate, which consists largely of notes and coins in circulation, is often viewed as a good indicator of economic activity. |
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Some economists have long argued that the dollar's ups and downs do no harm: companies that want to avoid exchange-rate uncertainty can do so by trading currencies in the forward market, or by using other financial instruments. |
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When an economy such as America's has a fifth of its commercial property vacant, it must fall far short of its potential. |
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If it wants to affect the current account, the government should now either cut its budget surplus drastically, or use microeconomiс reforms to lower personal savings. |
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"Monetarism" (the idea that growth in some particular measure of money, e.g. M3, may accurately predict inflation) is out of favour among economists. Yet it would be wrong to ignore money completely. Particular measures of money may have proved unreliable guides to inflation, but when many different financial indicators say the same thing, it is well to pay attention. |
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The Federal Reserve raised short-term interest rates last week to contain inflation. |
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If sustained (a big if), larger productivity gains - meaning more efficiency - would mean larger increases in wages or living standards. |
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AI (artificial intelligence) is only one, relatively small element in the computer systems needed to solve intricate business problems. It is the little extra bit that makes the whole thing good. |
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We reward presidents for good times and punish them for bad times when they usually don't have much to do with either. |
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By delaying interest rates cuts, the Bundesbank is sending a clear message to unions: excessive pay rises will not be accommodated but will cost jobs. |
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We ought to stop pretending that a president is maestro of a business cycle. |
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With inflation, government borrowing and strikes on the rise, united Germany is hardly the iron man of Europe. |
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Only time will tell whether this pump-priming (комплекс мер по стабилизации экономики) will cure an ailing Australia. But it is another nail in the coffin of monetarism which, literally, hasn't delivered the goods in those industrialized economies used as a test bed for a theory best left in the laboratory. |
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Action to hold the dollar's value close to some "equilibrium", however defined, would require American interest rates to be directed to that end. |
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Propping the falling dollar calls for dearer money in America - but so too does the fast growing domestic economy. |
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The domestic policy frameworks of most countries do not reflect the role of TNCs (transnational corporations) as integrating agents of capital, trade, technology and training flows; hence one of the first tasks of Governments in the new world economy is to adjust their policy-making structures. |
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The president's deficit-reduction program has had a "profoundly important" effect on the economy. The president had to "jump start the recovery". |
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Ireland, which ran a large budget surplus last year, might be forced to run an even bigger one if the single monetary policy is not tight enough to suit its needs. |
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In the 1960s and 1970s, presidents strove to sustain "full employment" and to avoid recession; the result was to encourage easy credit policies by the Fed (Federal Reserve System) that led to high inflation. |
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Initial reaction to the Prime Minister's new package was sour on the foreign exchange and bond markets yesterday; but since it is designed to win an election, this is no great surprise. |
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Germany might soon set the stage for the next leg of growth. The immediate benefit of all this to the rest of the world should be lower German interest rates, and hence lower rates in other countries. |
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"The problem is worse for high-technology products like computers and pharmaceuticals, where EU imports have been rising at an annual rate of 8%, while exports have grown by only 2%", Mr. McWilliams said. |
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By 1990 the American market for diesels had all but disappeared. |
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Average pay settlements have fallen. Volkswagen's workers have just agreed a 4.9% rise. If a company with slumping profits in a cutthroat industry agrees such a big increase what hope is there for firms in more sheltered sector? |
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The factory sector has spent most of the year in the doldrums, depressed by defense cuts, weaker exports, and sagging orders generally. |
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No wonder, then, that a growing chorus of financial pundits reckon a devaluation of some sort is likely just after the election if not before. |
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Most economists are forecasting little or no growth. Yet the Bundesbank president has just said that there is still no room for cutting interest rates. Are the inflation-fighters in danger of overdoing it? |
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The stocks will have to be replenished swiftly if they are to supply the rising demand. |
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Investors have begun to shift a healthy slice of their portfolios into cash. But the mass exodus of fund investors that many doomsayers have predicted has yet to materialize. |
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Last year the trade deficit was $ 96 billion. It might be 50 per cent higher this year. |
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The advocates of cheaper money seem not to have noticed that monetary policy has already been loosened a good deal, or to remember that it takes at least two years for such changes to have their full effect on the economy. |
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Any upturn in demand will suck in imports and swell the deficit to bursting point. This would be the case if confidence in the UK economy were shaken so badly that overseas investors started to withdraw this money. |
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The Government officially estimates that nominal capital gains amounted to $ 62.2 billion over the decade, far outweighing any gap in the current account. But the author of the report agrees that this is a significant underestimate, for the breaking-down of the figures shows a $ 78.1 billion gain from portfolio investment, and an implausible loss of $ 23.5 billion on net direct investment. |
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Since the reserves generally earn poor returns, they drag down the average return on equity. |
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The latest data suggest that labour markets are a little firmer as the new year gets under way. |
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American GNP grew by an average of 2.7% a year, boosted by tax cuts, deregulation and a massive defence build-up. |
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Pirelli cannot afford to keep a permanent team employed just on acquisitions. But the lack of planning meant that it was often unclear who, if anyone, was speaking for the firm as the talks dragged on. |
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The workaholic older generation in Japan is being replaced by middle-aged corporate mercenaries who, like their counterparts in the West, are no longer blindly loyal to their firms. They, in turn, are being followed by younger workers who seem more interested in leisure than in what is happening at the office. |
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The Bundesbank's job is not steering the real economy; by law, its task is ensuring price stability, defined as an inflation rate of 2% or less. The Bundesbank has had more success than other central banks in using monetary targets to control inflation. |
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In the Senate, Chairman Lloyd Bentsen, a Texas Democrat, of the Finance Committee agreed to prepare a bill that would finance any tax cuts with increases in other taxes. The decision placates Appropriations Committee Chairman Robert Byrd whose cooperation is needed if a tax bill is to pass. |
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The Mexican central bank has also had to issue plenty of tesobonos - dollar linked bonds that are popular with investors who worry about currency risk. |
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Even in Mexico, none of the blue-chip industrial companies had yet defaulted on their dollar debts, though some might eventually do so. |
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The pressure on companies to cut costs and boost productivity stems from the economy's structural problems - public and private debt, defense downsizing, and competitiveness - which will not go away anytime soon. |
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The news a businessman from Utah was delivering was too good: for the industrialist was telling of booming investment, state-of-the art products and filled order books. |
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Since money-supply figures can be unreliable, some economists prefer to watch changes in nominal GDP: roughly, the sum of inflation and real growth. |
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Fuelled by eager venture capitalists, the first generation of AI (artificial intelligence) companies sprang from university labs in the mid-1980s. |
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Five years ago artificial intelligence (AI) was supposed to be the computer industry's next entrepreneurial pot of gold. |
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Using protectionist rules to shelter European industries from competition would only make the problems worse, he said. |
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The head of Swiss Bank Corporation's international division told journalists that if Mexico was to attract foreign money after August's presidential elections, a clean vote and continuity of policy were not enough: Mexico was to devalue the peso too. |
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Wayne Angell, a former Fed governor and inflation hawk, reckons that if the central bank waits until its August meeting, it will have to raise short-term rates by a full percentage point to calm the markets. |
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Germany's finance minister hailed America's sound economy and said that the administration was right not to react to the dollar's decline. |
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If this improvement in efficiency could be achieved for all investment across an economy, incomes per head would typically rise by more than extra percentage point each year. |
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The space in which TNCs (transnational corporations) act is expanding as more countries give a great role to the private sector and market forces in their economies. |
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Current account deficits clearly matter: if Britain is running a deficit with the rest of the world, then foreigners have to be encouraged to hold sterling. |
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After studying acquisitions at 20 different firms, the authors of a new book conclude that managers do not pay enough attention to evaluating and negotiating mergers and takeovers. |
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To treat the European productivity malaise, he called for greater training and education, the weaker euro against the yen and dollar, and restrained wage costs and social benefits. |
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Meanwhile, as domestic sales have slowed, Japanese companies have switched their sights again vigorously toward overseas markets. |
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The craft workshops in Britain were overtaken by American methods of mass production. |
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After surveying Japanese firms, HILL's researchers confirm the widespread impression in Japan that the changing attitudes to work are shaking the foundations of the much-vaunted Japanese system of life-time employment. |
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Instead of making a wide range of products inefficiently, as they did in the days of import-substitution, many firms have learned to specialize. |
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As a result, despite recession in America and in parts of Europe, Japan's exports were 12% higher in dollar terms in the first half of the year. |
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To finance higher investment America would either have to increase private saving or slash its budget deficit. |
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Now the benefits to be had from revaluing the national currency are less clear. |
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Mexico has also had to keep interest rates high to maintain capital inflows. |
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As the economy recovers, imports are likely to rise again. |
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Devaluation is more likely to create than solve the balance of payments "problem", as it would undermine Britain's exchange-rate credibility and so make foreigners more nervous about sterling assets. |
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The rise of Japan's biggest car maker mirrors its success at making its factories more flexible than those of its western competitors. |
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Most economists' familiar advice: the best way for governments to spur growth is to help markers to work better and to adopt stable and credible macroeconomic policies which encourage firms to take a long-term view. |