Chap 2 a Changed Global Reality
Chap 2 A Changed Global Reality 21
Words and Expressions 1. granite eg. Financial institutions that had seemed as solid as granite disappeared as if they were no more substantial than a bunch of flowers in the hands of an old-style magician 2. epocha eg. Given that the scale of the downturn was so epochal it should not be surprising that the nature of the recovery would likewise be the stuff of history 22
Words and Expressions 1. granite • eg.Financial institutions that had seemed as solid as granite disappeared as if they were no more substantial than a bunch of flowers in the hands of an old-style magician. 2. epochal • eg. Given that the scale of the downturn was so epochal, it should not be surprising that the nature of the recovery would likewise be the stuff of history. 22
.appurtenance eg. In the long term this is nothing but good news. as billions of poor people become more prosperous, they will be able to afford the comforts their counterparts in the rich world have long considered the normal appurtenances of life 23
3. appurtenance • eg. In the long term, this is nothing but good news. As billions of poor people become more prosperous, they will be able to afford the comforts their counterparts in the rich world have long considered the normal appurtenances of life. 23
4, wheeze eg. The double-dip recession some economists feared never materialized. In the u.s. which seemed to stall in the summer there are early signs that consumers are spending and banks are lending again, while the stock market is at its highest point in 21 2 years Though Europe is wheezing under cascading sovereign-debt crises it has so far avoided the worst- case scenarios a collapse of the euro a debt crisis that spills from small economies such as greece and Ireland to much bigger ones like italy and spain, and bitter social unrest in those nations that are having to massage wages down while cutting public budgets 24
4. wheeze • eg. The double-dip recession some economists feared never materialized. In the U.S., which seemed to stall in the summer, there are early signs that consumers are spending and banks are lending again, while the stock market is at its highest point in 21⁄2 years. • Though Europe is wheezing under cascading sovereign-debt crises, it has so far avoided the worstcase scenarios— a collapse of the euro, a debt crisis that spills from small economies such as Greece and Ireland to much bigger ones like Italy and Spain, and bitter social unrest in those nations that are having to massage wages down while cutting public budgets. 24
5. proclaim eg. While 2010 was the Year of doubt, 2011, they proclaim, will be the"Year of recovery 6. dodge eg The rebound in the U.S., Walker says, is a mirage created by excessive stimulus. He expects the U. S. to slip into the double dip it dodged in 2010. Even the less bearish worry that the global economy is far from healed
5. proclaim • eg. While 2010 was the "Year of Doubt," 2011, they proclaim, will be the "Year of Recovery." 6. dodge • eg.The rebound in the U.S., Walker says, is a mirage created by excessive stimulus. He expects the U.S. to slip into the double dip it dodged in 2010. Even the less bearish worry that the global economy is far from healed. 25