Call for joint financial cooperation

时间：2009-06-19 03:25:54

（单词翻译:单击）

China and Japan, the two largest foreign-exchange reserve holders1 in the world, should join hands to ward2 off unfavorable fluctuations3 in a global financial market dominated by American and European currencies, a senior Chinese researcher said yesterday.

"China and Japan each has more than $1 trillion in foreign exchange reserves, they both spend a lot of the reserves buying American bonds and financial products and bear the risks and losses from the depreciation4 of the US dollar," Zheng Xinli, vice-director of the Policy Research Office of the Central Committee of Communist Party of China, said at the Beijing-Tokyo Forum5.

China's foreign exchange reserves exceeded $1.8 trillion at the end of June, compared to $1.002 trillion in Japan. The weakening of the US dollar in the past year has stirred debates in both countries on how to keep the cash pile from shrinking.

Zheng said neither of the two Asian countries' currencies could enjoy the status of universal money, with the Japanese yen6 in the shadow of the greenback and the euro and China's renminbi not in a condition to be fully7 convertible8.

Moreover, China and Japan were both "victims" in the Asian financial turmoil9 in the late 1990s as well as the ongoing10 US subprime mortgage crisis, he added.

For years, Asian economists11 have called for financial integration12 and even a common currency in East Asia to make the region more financially competitive. But the vision is far from being materialized given the big disparity in monetary13 and foreign exchange reserves policies in countries in the region.

Zheng said China and Japan, which account for more than 80 percent of the GDP in East Asia, should work together to push forward regional financial integration and the creation of a common currency.

Questions:

1. How much each does Japan and China both have in foreign exchange reserves?

2. How much do China and Japan, account for of the GDP in East Asia?

Answers:

1. More than $1 trillion.

2.  More than 80 percent.


分享到：


点击收听单词发音收听单词发音  

1 holders 79c0e3bbb1170e3018817c5f45ebf33f     
支持物( holder的名词复数 )； 持有者； （支票等）持有人； 支托（或握持）…之物
参考例句：
  • Slaves were mercilessly ground down by slave holders. 奴隶受奴隶主的残酷压迫。
  • It is recognition of compassion's part that leads the up-holders of capital punishment to accuse the abolitionists of sentimentality in being more sorry for the murderer than for his victim. 正是对怜悯的作用有了认识，才使得死刑的提倡者指控主张废除死刑的人感情用事，同情谋杀犯胜过同情受害者。
2 ward LhbwY     
n.守卫，监护，病房，行政区，由监护人或法院保护的人（尤指儿童）；vt.守护，躲开
参考例句：
  • The hospital has a medical ward and a surgical ward.这家医院有内科病房和外科病房。
  • During the evening picnic,I'll carry a torch to ward off the bugs.傍晚野餐时，我要点根火把，抵挡蚊虫。
3 fluctuations 5ffd9bfff797526ec241b97cfb872d61     
波动，涨落，起伏( fluctuation的名词复数 )
参考例句：
  • He showed the price fluctuations in a statistical table. 他用统计表显示价格的波动。
  • There were so many unpredictable fluctuations on the Stock Exchange. 股票市场瞬息万变。
4 depreciation YuTzql     
n.价值低落，贬值，蔑视，贬低
参考例句：
  • She can't bear the depreciation of the enemy.她受不了敌人的蹂躏。
  • They wrote off 500 for depreciation of machinery.他们注销了500镑作为机器折旧费。
5 forum cilx0     
n.论坛，讨论会
参考例句：
  • They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
  • The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。
6 yen JfSwN     
n. 日元；热望
参考例句：
  • He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
  • He has a yen to be alone in a boat.他渴望独自呆在一条船上。
7 fully Gfuzd     
adv.完全地，全部地，彻底地；充分地
参考例句：
  • The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
  • They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。
8 convertible aZUyK     
adj.可改变的，可交换，同意义的；n.有活动摺篷的汽车
参考例句：
  • The convertible sofa means that the apartment can sleep four.有了这张折叠沙发，公寓里可以睡下4个人。
  • That new white convertible is totally awesome.那辆新的白色折篷汽车简直棒极了。
9 turmoil CKJzj     
n.骚乱，混乱，动乱
参考例句：
  • His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
  • The robbery put the village in a turmoil.抢劫使全村陷入混乱。
10 ongoing 6RvzT     
adj.进行中的，前进的
参考例句：
  • The problem is ongoing.这个问题尚未解决。
  • The issues raised in the report relate directly to Age Concern's ongoing work in this area.报告中提出的问题与“关心老人”组织在这方面正在做的工作有直接的关系。
11 economists 2ba0a36f92d9c37ef31cc751bca1a748     
n.经济学家，经济专家( economist的名词复数 )
参考例句：
  • The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
  • Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》
12 integration G5Pxk     
n.一体化，联合，结合
参考例句：
  • We are working to bring about closer political integration in the EU.我们正在努力实现欧盟內部更加紧密的政治一体化。
  • This was the greatest event in the annals of European integration.这是欧洲统一史上最重大的事件。
13 monetary pEkxb     
adj.货币的，钱的；通货的；金融的；财政的
参考例句：
  • The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
  • Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

©2005-2010英文阅读网