$80b Asian fund may be speeded up

时间：2009-06-20 01:04:53

（单词翻译:单击）

China, South Korea, Japan and ASEAN countries may speed up the creation of an $80 billion fund to safeguard regional financial stability, a move that reflects increasing concern about US and global financial prospects1, analysts2 said.

South Korea's Deputy Finance Minister Shin Je-yoon was reported as saying on Sunday that the establishment of the fund should be accelerated to prevent the spillover of the US financial crisis to Asia.

Shin said Seoul plans to hold a meeting of the finance ministers of South Korea, Japan and China earlier than originally planned, for May next year, to discuss the scheme.

"It is necessary for the three countries to actively3 cooperate as the US financial turmoil4 may spread to the rest of the economy. A possible speed-up of talks on the $80-billion fund will have a preventive effect," he was quoted as saying.

In May, East Asian finance ministers agreed to upgrade the currency swap5 scheme to fight regional financial crises, taking them a step closer to creating a full-scale Asian monetary6 fund.

Japan, China and South Korea agreed to provide 80 percent of the total fund, or $64 billion, with members of the Association of Southeast Asian Nations, or ASEAN, promising7 to provide the remaining $16 billion.

On Friday, South Korean President Lee Myung-bak suggested finance ministers of regional countries meet to coordinate8 responses to the worsening US financial crisis and the global economic slowdown.

The US has announced a slew9 of measures to restore market confidence while Asian countries have followed suit to prop10 up slumping11 stock markets.

The proposal to accelerate the creation of the $80-billion fund shows the desire of the region to cooperate more to cope with the crisis, said Sun Lijian, senior economist12 with Fudan University. "The amount is not big, but it shows the resolve of the region."

The fund will replace the existing arrangement - called the Chiang Mai Initiative - of mainly bilateral13 currency swaps14 which came into being in 2000, and transform it into a reserve-pooling mechanism15.

Questions:

1. Which countries will be involved in the fund?

2. Why must the creation of the fund be speeded up?

3. What does the fund replace?

Answers:

1. China, South Korea, Japan and ASEAN (South East Asian) countries.

2. To prevent the spillover of the US financial crisis to Asia.

3. The Chiang Mai Initiative of bilateral currency swaps, which was created in 2000.


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1 prospects fkVzpY     
n.希望，前途(恒为复数)
参考例句：
  • There is a mood of pessimism in the company about future job prospects. 公司中有一种对工作前景悲观的情绪。
  • They are less sanguine about the company's long-term prospects. 他们对公司的远景不那么乐观。
2 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
3 actively lzezni     
adv.积极地，勤奋地
参考例句：
  • During this period all the students were actively participating.在这节课中所有的学生都积极参加。
  • We are actively intervening to settle a quarrel.我们正在积极调解争执。
4 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。
5 swap crnwE     
n.交换；vt.交换，用...作交易
参考例句：
  • I will swap you my bicycle for your radio.我想拿我的自行车换你的收音机。
  • This comic was a swap that I got from Nick.这本漫画书是我从尼克那里换来的。
6 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。
7 promising BkQzsk     
adj.有希望的，有前途的
参考例句：
  • The results of the experiments are very promising.实验的结果充满了希望。
  • We're trying to bring along one or two promising young swimmers.我们正设法培养出一两名有前途的年轻游泳选手。
8 coordinate oohzt     
adj.同等的，协调的；n.同等者；vt.协作，协调
参考例句：
  • You must coordinate what you said with what you did.你必须使你的言行一致。
  • Maybe we can coordinate the relation of them.或许我们可以调和他们之间的关系。
9 slew 8TMz0     
v.（使）旋转；n.大量，许多
参考例句：
  • He slewed the car against the side of the building.他的车滑到了大楼的一侧，抵住了。
  • They dealt with a slew of other issues.他们处理了大量的其他问题。
10 prop qR2xi     
vt.支撑；n.支柱，支撑物；支持者，靠山
参考例句：
  • A worker put a prop against the wall of the tunnel to keep it from falling.一名工人用东西支撑住隧道壁好使它不会倒塌。
  • The government does not intend to prop up declining industries.政府无意扶持不景气的企业。
11 slumping 65cf3f92e0e7b986ced17e25a7abe6f9     
大幅度下降，暴跌( slump的现在分词 )； 沉重或突然地落下[倒下]
参考例句：
  • Hong Kong's slumping economy also caused a rise in bankruptcy applications. 香港经济低迷，破产申请个案随之上升。
  • And as with slumping, over-arching can also be a simple postural habit. 就像弯腰驼背，过度挺直也可能只是一种习惯性姿势。
12 economist AuhzVs     
n.经济学家，经济专家，节俭的人
参考例句：
  • He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
  • He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。
13 bilateral dQGyW     
adj.双方的，两边的，两侧的
参考例句：
  • They have been negotiating a bilateral trade deal.他们一直在商谈一项双边贸易协定。
  • There was a wide gap between the views of the two statesmen on the bilateral cooperation.对双方合作的问题，两位政治家各自所持的看法差距甚大。
14 swaps 7852508deb41ee8610612c888aea2f12     
交换( swap的名词复数 )； 交换物，被掉换者
参考例句：
  • He swaps his old car for a new motorcycle. 他用旧车换了一辆新摩托车。 来自英汉 - 翻译样例 - 口语
  • Swaps the anchor and end points of the current selection. 交换当前所选内容的定位点和结束点。
15 mechanism zCWxr     
n.机械装置；机构，结构
参考例句：
  • The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
  • The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。

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