7. distortion eg. Stephen roach an economist at yale University believes that the world economy is still digging itself out of the debt and distortions built up during the last boom " It's a really slow postcrisis workout, Roach says I'm not prepared to give the global economy the green light
7. distortion • eg.Stephen Roach , an economist at Yale University, believes that the world economy is still digging itself out of the debt and distortions built up during the last boom. "It's a really slow postcrisis workout," Roach says. "I'm not prepared to give the global economy the green light." 26
8. retrenchment austeri ·Feeb|e · trajectory eg. In the U.S., the miserable condition of state and local governments budgets is likewise leading to a job-killing retrenchment. europe' s imposition of austerity has led to heightened political conflict. Ballooning debts and feeble growth prospects for the advanced economies are reordering the investor's perception of risk Noting that the U. S. has no plan in place to stabilize and ultimately reverse the upward debt trajectory "Moodys in mid-January warned that the country's aaa credit rating could come under pressure if debt continues to mount; a few days later, Moody' s upgraded Indonesia's rating 27
8. retrenchment • austerity • Feeble • trajectory • eg.In the U.S., the miserable condition of state and local governments‘ budgets is likewise leading to a job-killing retrenchment. Europe’s imposition of austerity has led to heightened political conflict. Ballooning debts and feeble growth prospects for the advanced economies are reordering the investor‘s perception of risk. • Noting that the U.S. "has no plan in place to stabilize and ultimately reverse the upward debt trajectory," Moody's in mid-January warned that the country's AAA credit rating could come under pressure if debt continues to mount; a few days later, Moody's upgraded Indonesia's rating. 27
9. spiking eg. Such spiking prices for the basics people need to survive are hard enough to swallow in the developed world. Just at the point you start to see a recovery coming you get hit by commodity prices that hit people's incomes, says stephen King
9. spiking • eg.Such spiking prices for the basics people need to survive are hard enough to swallow in the developed world. "Just at the point you start to see a recovery coming, you get hit by commodity prices that hit people's incomes," says Stephen King… 28
10. curtail q ue Eg. Fearing the consequences, policymakers throughout the developing world have switched priorities from holding up growth to fighting inflation In mid-January china raised the reserve-requirement ratio which forces banks to park more money at home for every loan they make - to a record high in an attempt to curtail credit and quell inflation, which rose at the fastest pace in two years in November
10. curtail • quell • Eg. Fearing the consequences, policymakers throughout the developing world have switched priorities from holding up growth to fighting inflation. In mid-January, China raised the reserve-requirement ratio — which forces banks to park more money at home for every loan they make — to a record high in an attempt to curtail credit and quell inflation, which rose at the fastest pace in two years in November. 29
11. disaffection connive Eg. In the U.S. and Europe, a certain helplessness in the face of huge economic forces is fueling a disaffection -which makes itself felt in different ways in different societies with the global financial elites and the policymakers who are thought to have connived with them
11. disaffection • connive • Eg.In the U.S. and Europe, a certain helplessness in the face of huge economic forces is fueling • a disaffection — which makes itself felt in different ways in different societies — with the global financial elites and the policymakers who are thought to have connived with them. 30