【原版杂志阅读】27期 Day 2：China’s slowdown is rattling Asian economies part 2

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Finance and economics | Spillovers aren’t over 

China’s slowdown is rattling Asian economies

Governments are rushing to limit the damage

Many Asian countries benefited from Chinese growth over the past two decades, becoming entwined with the world’s second-largest economy. Since China is in the midst of a real-estate slump, with property investment down 9% in the first seven months of the year, these countries now face a headache. China is less of a big buyer of their wares than it was. According to data released on September 7th, its imports dropped by 7.3% in the year to August.

In the richer parts of the continent, makers of semiconductor circuits and car parts are nursing losses. South Korean exports to China fell by 20% year on year in August. On September 4th the government pledged fresh support, announcing loans for exporters worth up to 181trn won ($136bn), in addition to tax breaks and other schemes earlier in the year. Between January and July exports from Taiwan to mainland China and Hong Kong fell by 28% against a year before. Almost 10% of the country’s gdp is driven by mainland Chinese consumption and investment, estimates Goldman Sachs, a bank.

Some exporters may hope that China’s slump, which has been exacerbated by a global slowdown in sales of electronic goods, has bottomed out, since the year-on-year decline in imports has stabilised. But most do not expect a rapid turnaround. The Korean Chamber of Commerce and Industry recently published a survey of 302 domestic companies that export to China. Almost four in five expected the slump to continue. Without more fulsome stimulus from the Chinese government, such low expectations are likely to be met.

一、词汇部分

1. imperil  /ɪmˈperəl/ v. 使陷于危险；危及

前缀: im- 进入

词根: per- 坏

2. entwine  /ɪnˈtwaɪn/ v. 与…密切相关（或紧密相联）

前缀: en- 使, 进入

词根: tw- 表示two

后缀: -ine 

3. circuit  /ˈsɜːkɪt/ n. 电路, 回路

词根: circ- 圆圈

后缀: -it 名词后缀

4. exacerbate  /ɪɡˈzæsəˌbeɪt/ v. 使…恶化

前缀: ex-向外

词根: acerb- 尖、 酸

后缀: -ate 动词后缀

5.  fulsome  /ˈfʊlsəm/ adj . 过分恭维的

词根：ful- 全

后缀：-some 形容词后缀

二、文章讲解(词汇/搭配、语法长难句、篇章段落结构）

2. Many Asian countries benefited from Chinese growth over the past two decades, becoming entwined with the world’s second-largest economy. Since China is in the midst of a real-estate slump, with property investment down 9% in the first seven months of the year, these countries now face a headache. China is less of a big buyer of their wares than it was. According to data released on September 7th, its imports dropped by 7.3% in the year to August.

1. 语法部分:

1) 语法: 句子,  doing sth —状语

2) 结果状语: becoming entwined with the world’s second-largest economy.

3) 过分分词作后置定语: 名词+done

2. 表达积累

1) be (deeply/closely/intricately )entwined with 和…紧密联系在一起(纠缠一起, 很难分割的感觉)

e.g. Education is entwined with personal growth and development. 教育与个人成长和发展息息相关。

e.g. Social media has become entwined with our daily lives. 社交媒体已经与我们的日常生活紧密结合。

• Be interconnected with：与...相互连接

• Be closely linked with：与...紧密相连

• Be deeply connected with：与…深深相连

2) in the midst of 在…期间(在…之中) —crisis 

e.g. In the midst of the chaos, there is an opportunity for change. 在混乱之中，存在着改变的机会。

e.g.In the midst of uncertainty, they found strength. 在不确定中，他们找到了力量。

3) real-estate slump 房地产市场的低迷或衰退期

e.g. There has been a slump in the housing market, with prices dropping significantly 房地产市场出现了低迷，价格大幅下降。

e.g.The company experienced a sales slump during the economic recession. 公司在经济衰退期间销售量下降。

补充:

Housing market downturn：住房市场的低迷

The housing market is experiencing a downturn, with fewer buyers and declining prices. 住房市场正经历低迷，买家减少，价格下降。

Property market slump：房地产市场的衰退

The property market is going through a slump, and many sellers are struggling to find buyers. 房地产市场正经历衰退，许多卖家难以找到买家。

Real-estate downturn：房地产行业的低迷期

The real-estate market is in a downturn, and developers are scaling back their projects. 房地产市场处于低迷期，开发商正在减少项目规模。

Housing slump：住房市场的衰退

The housing slump has led to a decrease in property values and a slowdown in construction.住房市场的衰退导致了房价下降和建筑活动的放缓。

Real-estate crisis：房地产危机

The country is facing a real-estate crisis, with a surplus of unsold properties and increasing foreclosures. 该国正面临房地产危机，有大量未售出的房产和日益增加的抵押赎回。

confront/encounter 

4) is less of  

(骗人的数据—真话不说全)

3. In the richer parts of the continent, makers of semiconductor circuits and car parts are nursing losses. South Korean exports to China fell by 20% year on year in August. On September 4th the government pledged fresh support, announcing loans for exporters worth up to 181trn won ($136bn), in addition to tax breaks and other schemes earlier in the year. Between January and July exports from Taiwan to mainland China and Hong Kong fell by 28% against a year before. Almost 10% of the province’s GDP is driven by mainland Chinese consumption and investment, estimates Goldman Sachs, a bank.

1) nurse losses  

2) pledge fresh support 提供支持 (to someone/to do something)

e.g. The government has pledged fresh support to the struggling healthcare system. 政府承诺对陷入困境的医疗系统提供新的支持。

e.g. The organization announced it will pledge fresh support to promote environmental sustainability. 该组织宣布将承诺提供新的支持，以促进环境可持续性。 

4. Some exporters may hope that China’s slump, which has been exacerbated by a global slowdown in sales of electronic goods, has bottomed out, since the year-on-year decline in imports has stabilised. But most do not expect a rapid turnaround. The Korean Chamber of Commerce and Industry recently published a survey of 302 domestic companies that export to China. Almost four in five expected the slump to continue. Without more fulsome stimulus from the Chinese government, such low expectations are likely to be met.

语法部分:

1) 定语从句: 逗号 + which

2) 宾语从句: that China’s slump, which has been exacerbated by a global slowdown in sales of electronic goods, has bottomed out, since the year-on-year decline in imports has stabilised.

3) four in five —four out of five —-eighty percent 

1) bottom out 触底

e.g. The housing market has finally bottomed out, and we are starting to see signs of recovery. 房地产市场最终触底反弹，我们开始看到复苏的迹象。

e.g. After months of decline, the stock prices have bottomed out, and investors are cautiously optimistic. 股价经过数月的下跌后已经见底，投资者持谨慎乐观态度。

三、段落翻译

过去二十年来，亚洲许多国家受益于中国的增长，变得和这个世界第二大经济体交织在一起。如今中国陷入房地产危机，今年前七个月房地产投资下降9%，这些国家开始感到头疼。中国不再像以前那样大量购买它们的产品。9月7日发布的数据显示，8月的进口同比下降了7.3%。 

在亚洲较富裕的地区，半导体电路和汽车零部件的制造商正在遭受损失。韩国对中国的出口在8月同比下降了20%。今年早些时候，韩国政府推出了税收减免等计划，到9月4日又承诺推出新的支持措施，宣布为出口商提供高达181万亿韩元（1360亿美元）的贷款。1月到7月，台湾对中国大陆和中国香港的出口同比下降了28%。高盛估计，台湾近10%的GDP都是由中国大陆的消费和投资驱动的。

一些出口商可能期望中国因受全球电子产品销售放缓的影响而加剧的经济下滑已经触底，因为进口的同比下滑已经企稳。但大多数出口商并没有指望出现快速反弹。大韩商会最近调查了302家对华出口的韩国公司，其中近五分之四预计低迷会持续下去。如果中国政府不祭出更充分有力的刺激措施，这样的低预期很可能会变成现实。