Useful facts/ details

1   More than 20 million Chinese migrant workers have lost jobs because 300,000 coastal enterprises have shut their doors amid the chilling winter of the global economic downturn, according to the result of a government survey.

2   Premier Wen, who just concluded a landmark European tour, has announced that Beijing will dispatch government and corporate shopping delegations to Britain, Germany and Spain to purchase European equipment and technology to aid the shrinking markets there, and get ready to launch a colossal 4-trillion yuan fiscal stimulus at home.

3   The yuan has risen in value against the American dollar by 21 percent since July 2005, when China reformed its currency valuation regime.

4   Many felt disbelief and alarm when Timothy Geithner, the new Treasury Secretary for the Obama administration, accused China as a "currency manipulator" before the US Senate last week.

5   America is checking its previous policy of poor financial oversight and restoring its powerhouse of technological advancements.

Related words and expressions

aftermath   结果 后果 n .

temptation 诱惑 诱惑物 n .

devalue =devaluate 减值 贬值 v .

proponent 建议者 支持者 n .

assert 断言 声称 v .

chilling winter 寒冬 冷冬 冷冻期

jeopardize 危害 v .

unnerved 失常的

evaporate 蒸发 消失 v .

concerted 一致的

unprecedented 史无前例的

magnitude 大小 数量 巨大 广大 量级 n .

dispatch 分派 遣派v . 派遣 急件 n .

corporate 社团的 法人的 共同的 团体的 adj .

delegation 代表团 委托 授权 n .

colossal 庞大的 巨大的 adj .

fiscal stimulus 财政的刺激

consensus 一致同意 n .

regime 政体 政权 政治制度 n .

boom 繁荣 隆隆声 发出隆隆声 兴隆 大事宣传

furnace 炉子 熔炉 n .

revival 苏醒 复活 复兴 n .

legislation 立法 法律 法规 n .

bruise 擦伤 瘀伤 n . 打伤 撞伤 v .

ignite 点燃 点火 v .

vigorously 精力旺盛的 有力的 健壮的 adj .

Useful expressions and sentences

1 Premier Wen Jiabao is right in suggesting that China will act responsibly and consistently, as it did in the aftermath of the 1997-98 Asian financial meltdowns, by resisting temptation to devalue its currency, the yuan.

2 More than 20 million Chinese migrant workers have lost jobs because 300,000 coastal enterprises have shut their doors amid the chilling winter of the global economic downturn, according to the result of a government survey.

3 In this sense, I believe, any outside pressure for China to increase the value of the yuan at this critical moment of economic crisis should also be resisted by Beijing.

4 In times of hardship and uncertainty we should pass them together hand-in-hand.