1、Text 3 Protectionist FearsI. Related Words and Expressionsbeggar-thy-neighbour policy antidumpingcountervailing duty litigatorBrics group appreciationsluggishII. Notes to the Text1. economic policy 经济政策Economic policy refers to the actions that governments take in the economic field. It covers the s
2、ystems for setting interest rates and government budget as well as the labor market, national ownership, and many other areas of government interventions into the economy.Almost any aspect of government has an economic aspect and so many terms are used. A few example of types of economic policy incl
3、ude: (1) macroeconomic stabilization policy; (2) trade policy; (3) policies designed to create economic growth and policies related to development economic; (4) redistribution of income, property, or wealth; (5) regulation; (6) industrial policy.经济政策是国家或政府为了达到充分就业、价格水平稳定、经济快速增长、国际收支平衡等宏观经济政策的目标，为增进经
4、济福利而制定的解决经济问题的指导原则和措施。经济政策有宏观经济政策和微观经济政策之分。宏观经济政策包括财政政策、货币政策、收入政策等；微观经济政策是指政府制定的一些反对干扰市场正常运行的立法以及环保政策等。2. the Great Depression 大萧条A dramatic, worldwide economic downturn beginning in some countries as early as 1928. The beginning of the Great Depression in the United States is associated with the st
5、ock market crash on October 29, 1929, known as Black Tuesday, and the end is associated with the onset of the war economy of World War II, beginning around 1939. It was the longest and most severe depression ever experienced by the industrialized Western world.3. the global financial crisis 全球金融危机Th
6、e global financial crisis is also known as 2008 financial crisis. It is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s. It resulted in the collapse of large financial institutions, the bailout of banks by national governments, and downturns in
7、stock markets around the world. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of US dollars, and a downturn in
8、 economic activity leading to the 20082012 global recession and contributing to the European sovereign-debt crisis. 4. unemployment the number of people in a particular country or area who cannot get a job 失业；失业率；失业人数unemployment可以构成如下相关短语：high/low unemploymentrising/falling unemploymentrise/increas
9、e/growth in unemploymentfall/decrease in unemploymentlevel of unemployment/unemployment levelunemployment rateunemployment figures/statistics5. Global Trade Alert “全球贸易预警 ”组织Global Trade Alert (GTA) is co-ordinated by the Centre for Economic Policy Research, an independent academic and policy resear
10、ch think-tank based in London, UK. GTA draws upon expertise and analysis from 7 independent research institutions around the world.Global Trade Alert provides information in real time on state measures taken during the current global economic downturn that are likely to discriminate against foreign
11、commerce. It goes beyond other monitor initiatives by identifying the trading partners likely to be harmed by these measures.“ 全球贸易预警 ” 组织由总部位于英国伦敦的经济政策研究中心发起，由世界银行、国际发展研究中心等共同支持成立。该组织是一个专门提供当前经济危机下各国采取贸易保护主义措施信息的独立机构，其致力于总结并分析自2008年 11月匹兹堡峰会后各国采取的贸易保护主义措施。至 2012年 5月， “ 全球贸易预警 ” 组织共发布了 11份全球贸易保护主义警告
12、报告。6. beggar-thy-neighbour policy 以邻为壑政策In economics, a beggar-thy-neighbour policy is an economic policy through which one country attempts to remedy its economic problems by means that tend to worsen the economic problems of other countries.以邻为壑政策是指一个国家为改善自己国家的经济状况（通常是为了减少失业）而采取的损人利己的经济措施，如提高进口关税、
13、使货币贬值等。这些政策会对与其进行贸易的国家产生负面影响。This is not a beggar-thy-neighbour policy. Its just to protect the Swiss economy from deflation. 这不是一项以邻为壑的政策，它只是为了不让瑞士经济陷入通缩。Since the first G20 crisis-related summit in November 2008, the governments of the world havetogether implemented 496 beggar-thy-neighbour policy
14、measures. 自 2008年 11月第一场与经济危机相关的 G20 峰会召开以来，世界各国政府共实施了 496项以邻为壑的政策措施。Buy-local campaigns, like putting up a tariff during a depression, are clearly a beggar-thy-neighbour policy. 购买国货运动，就像在经济萧条时期提高关税一样，显然是一种以邻为壑的政策。7. G20 20国集团The Group of Twenty Finance Ministers and Central Bank Governors (also kn
15、own as the G-20, G20, and Group of Twenty) is a group of finance ministers and central bank governors from 20 major economies: 19 countries plus the European Union, which is represented by the President of the European Council and by the European Central Bank. The G-20 heads of government or heads o
16、f state have also periodically conferred at summits since their initial meeting in 2008. Collectively, the G-20 economies account for more than 80 percent of the gross world product (GWP), 80 percent of world trade (including EU intra-trade), and two-thirds of the world population. They furthermore
17、account for 84.1 percent and 82.2 percent of the worlds economic growth by nominal GDP and GDP (PPP) respectively from the years 2010 to 2016, according to the International Monetary Fund (IMF).The G-20 was proposed by former Prime Minister of Canada Paul Martin as a forum for cooperation and consul
18、tation on matters pertaining to the international financial system. The group studies, reviews, and promotes high-level discussion of policy issues pertaining to the promotion of international financial stability, and seeks to address issues that go beyond the responsibilities of any one organizatio
19、n. With the G-20 growing in stature since the 2008 Washington summit, its leaders announced on September 25, 2009, that the group will replace the G8 as the main economic council of wealthy nations. The heads of the G-20 nations met biannually at G-20 summits between 2008 and 2011. Since the Novembe
20、r 2011 Cannes summit, all G-20 summits have been held annually. 8. anti-dumping 反倾销If a company exports a product at a price lower than the price it normally charges on its own home market, it is said to be “dumping” the product. Opinions differ as to whether or not such practice constitutes unfair
21、competition, but many governments take action against dumping in order to defend their domestic industries. Typically anti-dumping action means charging extra import duty on the particular product from the particular exporting country in order to bring its price closer to the “normal value” or to re
22、move the injury to domestic industry in the importing country.There are many different ways of calculating whether a particular product is being dumped heavily or only lightly. The WTO agreement (often called the “ anti-dumping agreement”) narrows down the range of possible options. It provides thre
23、e methods to calculate a products “normal value”. The main one is based on the price in the exporters domestic market. When this cannot be used, two alternatives are availablethe price charged by the exporter in another country, or a calculation based on the combination of the exporters production c
24、osts, other expenses and normal profit margins. And the agreement also specifies how a fair comparison can be made between the export price and what would be a normal price.9. countervailing duties 反补贴税Countervailing duties (CVDs), also known as anti-subsidy duties, are trade import duties imposed u
25、nder World Trade Organization (WTO) Rules to neutralize the negative effects of subsidies. They are imposed after an investigation finds that a foreign country subsidizes its exports, injuring domestic producers in the importing country. According to World Trade Organization rules, a country can lau
26、nch its own investigation and decide to charge extra duties, provided such additional duties are in accordance with the GATT Article VI and the GATT Agreement on Subsidies and Countervailing Measures.Since countries can rule domestically whether domestic industries are in danger and whether foreign
27、countries subsidize the products, the institutional process surrounding the investigation and determinations has significant impacts beyond the countervailing duties.10. WTO 世界贸易组织 WTO is an acronym for World Trade Organization, which was created by 8-year crisis-riddled global talks known as Urugua
28、y Round negotiations ( 1986-1994 ) and established in January 1, 1995 to supersede the General Agreement on Tariffs and Trade (GATT) as the supreme rule-setting body for world trade. WTO is a rules-based, member-driven organization all decisions are made by the member governments, and the rules are
29、the outcome of negotiations among members. Its functions are: administering WTO trade agreements； forum for trade negotiations； handling trade disputes; monitoring national trade policies; technical assistance and training for developing countries; cooperation with other international organizations.
30、 WTO is the only global international body dealing with the rules of trade between nations. At its heart are the WTO agreements， negotiated and signed by the bulk of the worlds trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and impo
31、rters conduct their business. WTO has three main purposes: 1) To help trade flow as freely as possible; 2) To serve as a forum for trade negotiations; 3) To settle disputes. WTO follows five principles: 1) without discrimination； 2) freer； 3) predictable； 4) more competitive； 5) more beneficial for
32、less developed countries.11. Brics group 金砖国家集团BRICS is the title of an association of leading emerging economies, arising out of the inclusion of South Africa into the BRIC group in 2010. As of 2012, the groups five members are Brazil, Russia, India, China and South Africa. With the possibleexcepti
33、on of Russia, the BRICS members are all developing or newly industrialised countries, but they are distinguished by their large, fast-growing economies and significant influence on regional and global affairs. As of 2012, the five BRICS countries represent almost 3 billion people, with a combined no
34、minal GDP of US$13.7 trillion, and an estimated US$4 trillion in combined foreign reserves.12. real exchange rate 实际汇率实际汇率也被称为真实汇率，是指剔除两国名义 ( 货币 ) 因素的汇率水平，即名义汇率经过两国相对物价水平调整后的汇率水平。实际汇率本质是一个相对价格指标，衡量的是本国价格水平与外国价格水平之间的相对水平。实际汇率升值，意味着本国价格水平相对国外价格水平上涨 ; 反之，则意味着本国价格水平相对下降。经贸英语中，和 exchange搭配的词有很多，如：exchang
35、e rate 汇率 foreign exchange 外汇stock exchange 证券交易所exchange control 外汇管制exchange dealer 外汇交易商exchange dealings 外汇买卖13. appreciation an increase in the value of currency in comparison with other currencies 货币汇价上升；货币升值表示货币升值和贬值的词有：appreciation ( appreciate v.) 升值revaluation (revalue v.) 升值depreciation (
36、 depreciate v.) 贬值devaluation ( devalue v.) 贬值14. recession Downturn in economic activity, commonly defined as at least two consecutive quarters of decline in a countrys real GDP. A recession bridges the period between a peak and a trough in the business cycle. A severe and long-lasting recession is
37、 called depression. 经济衰退；经济萎缩（往往同时出现投资和公共开支减少，失业增加）Unemployment rose to three million during the recession. 经济衰退期间失业人数增至三百万。Investment is low because of the recession. 由于经济衰退，投资很少。The country has been in recession for a number of years. 国家几年来一直处于经济衰退状态。与 recession同义的词还有： contraction, downswing, down
38、turn, slump15.句型 “the longer, the more ”是英语中“thethe （加两个比较级） ”的用法，表示二者之间的相互依赖关系。The warmer the weather, the better I feel. 天气越暖和，我感觉越舒服。The sooner we leave, the sooner we will arrive. 我们离开的越早，到的就会越早。The more expensive the hotel, the better the service. 旅馆的收费越贵，服务越好。The more electricity you use, the higher your bill will be. 你用的电越多，交的钱也越多。
