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1、Chapter 3,Chinas Economy 中国经济,Warm-up Questions,What do you know about Chinas economy?,Can you describe the main strength of Chinas economy?,New words,1 wonder n. 奇跡 economic wonders 经济奇跡 2 flagging 动名词 “正在衰退中的” 3 incentive n.刺激；鼓励（material incentives物质刺激） 4 astounding a.令人震惊的 5 ox n.牛（统称）（the year
2、of ox 牛年） 6 to stumble vi. 放慢速度=to slow down 7 to symbolise vt. 象征 8 fortitude n.坚忍；刚毅 9 castrated a.经过阉割的（bull 阉割过的公牛）,New words,10 robust a.强劲的=strong 11 migrant a.季节性（workers 农业季节性工人；农民工） 12 dismal a. 低落的；忧郁的 13 outright a.彻底的 14 slump n.& vi. 萧条；陷入萧条=depression or falling into depression. 15 com
3、pelling a.使人非相信不可的 16 energy-guzzling a.能源消耗大的,New words,17 to deflate vt. 使缩小（toa potential bubble对一个潜化的泡沫进行缩小） 18 build-up n. 逐步扩大（in stocks 库存变大） 19 to exacerbate vt. 加剧 20 mantra n.赞歌；赞美圣歌 21 destocking n.除库存化 22 to trash vt.视为无用(to consider sth. worthless) 23 fake n.伪造品,New words,24 boost n.坛加；
4、促进（有时也当动词用如，to boost the economy） 25 to dent vt. 削降 26 to scrape vt.废弃（to remove） 27 to waive vt.放弃；坚持 28 down-payment n.首付（a partial payment made at the time of purchase, to permit the buyer to take the merchandise） 29 to surge vi. 快速上升 30 to cripple vt. 使丧失经营能力,New words,31 to revive vi. 复活；恢复生机 3
5、2 heavy-handed a.严励的；不客气的（rather unkind） 33 to meddle vt.多管闲事（to interest oneself or take action when it is not ones concern.） 34 to hobble vt.阻碍；使跛行（toa bull 使公牛跛行） 35 virility n. 刚强有力 36 hoof n.蹄 37 HSBC=Hong Kong Shanghai Banking Company 汇丰银行,Economic Terms,1 slump n. 萧条（depression）An extended or
6、 severe period of recession. 2 rebate n. 折扣/回扣（a discount offered on the price of a good or service.） 3 command economy(planned economy)计划经济 An economy in which the activities of firms （企业；公司）and the location of productive resources are determined by government direction rather than market forces.,E
7、conomic Terms,4 capitalism (capitalist economy)资本主义（经济）An economic system based on the private ownership of capital and land used in production and on the market allocation of resources 5 bad loan坏帐；呆帐（与nonperforming loans 同义）,Useful Phrases and Idiomatic Expressions,1 be gloomy about. 对表示悲观 2 to sl
8、ide into. 不知不觉陷入=to enter silently or unintentimally 3 to plunge to. 冲入（toto the its lowest level 跌到它的底谷/最低水平 4 to make for. 有利于产生=being helpful in making sth possible 5 to bear the brunt of. 承受的正面冲击,Useful Phrases and Idiomatic Expressions,6 to sound the alarm bells 敲警钟 7 to perk up 振作起来；活跃起来=to ca
9、use to become more lively 8 to kick in 缴付 9 in real terms 实际上 10 to hinge on. 随而定=to depend on,Useful Phrases and Idiomatic Expressions,11 to pull out. 使脱离（to pull an economy out of a deep recession 使经济从严重衰退中摆脱出来 12 at a cost 付出代价 13 to hobble the bull 使公牛跛行,Notes,J.P. Morgan 摩根公司,J.P. Morgan is an
10、American bank holding company, also a well-known investment banking firm which underwrites securities as well as does commercial banking,Notes,OECD 经济合作发展组织,OECD (Organization for Economic Cooperation and Development) was created in 1948. it was an organization of 17 European nations, now enlarged t
11、o 21 members, including the U.S. Canada, and Japan. Headquartered in Paris, it promotes the economic growth of member nations, the expansion of world investment and trade, and the economic development of emerging countries.,Overview,In spite of its economic wonders, China is still basically an agric
12、ultural nation with a population of over 1.3 billion, of which most are living in the countryside. 1949 - 1970s 1979 - now,Current Economic Picture,A foreign perspective,How much worse can the Chinese economy get?,Chinas GDP growth fell to 6.8% in the year to the fourth quarter, down from 9% in the
13、third quarter and half its 13% pace in 2007 But some economists forecast 8% and over 10% GDP growth for Chinas economy in 2009 and 2010 respectively,Industrial production has slowed even more sharply, growing by only 5.7% in the 12 months to December, compared with an 18% pace in late 2007 Chinese e
14、xports forecast that exports in the first quarter could be 19% lower than a year ago.2009 may well see the first full-year decline in exports in more than a quarter of a century.,GDP and electricity output,Measures taken or introduced by China to stimulate its economic growth after the global economic crisis started Infrastructure Health care Rebate,The current situation,What have changed after the article was written? Is it for better or worse? Please backup your argument with sufficient data.,This is the end of Chapter 3,