【Native Speaker每日综合训练—40系列】【40-06】经管

wnj2611339

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公益申请名额，每月一名  

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Part I: Speaker

Money Laundering

Audio Index:
Slow dialog: 1:28
Explanations: 3:18
Fast dialog: 15:18

Susanna: What’s going on in the office next door? I heard that the police shut down their business.

Clark: You heard right. The cops had long suspected that the business operating out of that office wasn’t legit.

Susanna: Not legit?

Clark: Yeah, it was a front for money laundering. The so-called services it offered were a sham. It was a way for people to send them dirty money and for the business to legitimize those funds.

Susanna: But who was involved?

Clark: I’m not sure, but I imagine they’re people who want to evade taxes or to circumvent certain laws or regulations. I wouldn’t be surprised if their clients were people with underworld connections.

Susanna: You mean organized crime?

Clark: Yeah, they’re probably drug lords, smugglers, and racketeers.

Susanna: Wow and the people who helped them were working next door to us all that time.

Clark: And we didn’t know a thing about it. How awful.

Susanna: How exciting!


Source：ESL Podcast
http://www.eslpod.com/website/show_podcast.php?issue_id=15272650

[Rephrase 1, 17:01]

wnj2611339

Part II: Speed

America’s lost oomph
Jul 19th 2014 | From the print edition

The country’s potential growth rate is barely half what it was two decades ago. Here’s how to raise it

[Time 2]

BACK in the mid-1990s, America’s economic prospects suddenly brightened. Productivity soared. Immigrants and foreign capital flocked to take advantage of what was quickly dubbed the “New Economy”. The jobless rate fell to 4%, yet inflation remained low. All this led economists to conclude that America’s potential rate of growth—the speed at which the economy can expand while keeping unemployment steady and inflation stable—had risen sharply from its decades-long average of 3%, to 3.5% or even higher.

Sadly, the New Economy is no more. The recovery from the recession of 2008-09 has been the weakest of the post-war era, and evidence is mounting that America’s potential growth rate has plummeted. Its two big determinants, the supply of workers and the rise in their productivity, have both fallen short. Performance in the past year has been particularly feeble: America’s labour force has not grown at all and output per hour worked has fallen. The IMF recently cut its estimate of the country’s potential rate of growth to 2%. Other economists put it as low as 1.75% (see article).

So far, the slide in potential has had little practical impact. Because the recession was so deep and the recovery so weak, the economy is still operating below its capacity. But in the long term a halving of the economic speed limit would have grim consequences. Living standards would rise more slowly, tax revenues would be lower and the burden of paying today’s debts heavier.

Solving the short-term problem means boosting demand, so the Federal Reserve should keep interest rates low. But to pep up long-term growth, America also needs to address the supply side. In particular, it needs more workers and faster increases in productivity.
[284 words]


[Time 3]

The not-so-mysterious case of the disappearing worker
The number of working-age Americans rose by an average of 1.2% a year in the 1990s, and by a mere 0.4% in 2013. The proportion of them actually in the workforce has fallen from over 67% to less than 63%. The recession is partly to blame, because after years of joblessness some people have given up looking for work. That is one reason why boosting the recovery is important. The ageing of the baby-boomers is another reason. The number of people in their late 50s (when participation in the workforce starts to drop) and older is rising fast.

Both these vulnerabilities are exacerbated by a self-inflicted problem: policies that depress the supply of workers. Most damaging is America’s broken immigration system. Getting into the country has become much more difficult. The number of visas issued today for highly skilled people is a fraction of what it was in the 1990s, even as the number of unfilled vacancies for skilled workers soars. Deportations have surged and the southern border has become far harder to cross.

Obamacare, though good in other respects, tends to shrink the labour force because it helps people get health care without working. There is less to be said for the outdated social safety net, which manages both to be stingy and to discourage work. America spends a smaller proportion of its GDP than other rich countries on retraining the jobless and helping them find work. It has not raised the retirement age and it has allowed its disability-insurance system to become an ersatz welfare scheme. The number of workers on disability, hardly any of whom will work again, has doubled since 1997 to 9m. For once, Europe could teach America some labour-market lessons: thanks to welfare reforms, the proportion of Europeans in the workforce is now rising.
[307 words]


[Time 4]

The mystery of the slump in productivity
In the long run, the most powerful way to boost growth is for workers to become more productive, as they did in the 1990s. But raising productivity is hard, and the recent slump puzzling. Innovation drives productivity growth, and a dizzying array of new developments, from “big data” to the “internet of things”, suggests that innovation is speeding up. Yet the growth in the average worker’s output per hour was slowing before the 2007 crisis and has fallen further since.

That may change, because it takes a while for firms to react to disruptive technologies. Computers started to spread in the 1980s but their impact did not show up in the data for more than a decade. The latest surge in innovation will also take a few years to translate into higher output per hour. The slow recovery from the recession may have lengthened this delay, by deterring many firms from investing in information technology. But here, too, politicians have made matters worse.

There is much America’s government could do to boost investment. It could, for instance, increase public spending on infrastructure. It could reduce the sky-high corporate tax rate which encourages firms—such as AbbVie, which is proposing to shift its base to Britain by buying Shire (see article)—to move abroad rather than invest at home. And it could start cutting the endless sprawl of job-destroying regulations that companies say is a worse problem even than taxes. It is doing none of these things.

The impact of a supply-side revolution, with immigration reform, an overhaul of disability and training schemes, infrastructure investment, deregulation and corporate-tax reform all high on the agenda would be gradual. But even the prospect would strengthen the recovery, by encouraging investment and deterring the Fed from raising interest rates too soon.

Thoughtful politicians have produced schemes for radical change in almost all of these areas, but their plans—like so much else—have fallen victim to America’s polarised politics. The Republicans stand in the way of loosening immigration rules, while Democrats fear that supply-side reforms are a plot to hurt the average Joe. Both sides hoover up cash from special interests keen to keep anticompetitive regulations in place. Barack Obama, the least business-friendly president for decades, has devoted far too little attention to the problem. So the odds rise that America’s economy will continue to lumber along at an underwhelming pace, and Americans will have no one to blame but their leaders.
[415 words]

Source: The Economist
http://www.economist.com/news/leaders/21607809-countrys-potential-growth-rate-barely-half-what-it-was-two-decades-ago-heres-how-raise

No more grand bargains
Aug 9th 2014 | From the print edition

The World Trade Organisation’s whole approach to negotiating free trade needs radical change


[Time 5]

THERE is a fine line between laudable perseverance and a stubborn refusal to admit that change is needed. Those running the World Trade Organisation (WTO) risk falling into the latter category. On July 31st an agreement to lubricate trade by streamlining customs rules worldwide collapsed. Narendra Modi, India’s new prime minister, refused to sign the deal, painstakingly thrashed out in Bali last year, because the WTO would not change its rules to let him expand food subsidies. The spat raises a new question-mark over Mr Modi: sound economics was the most respectable bit of his chequered CV. But it also shows that the WTO needs radical reform to survive.

India is hardly the only protectionist when it comes to agriculture. Rich countries are the worst culprits. Japan’s tariffs—778% on rice and 328% on sugar—aim to block trade completely, insulating its small and inefficient producers from competition. The European Union’s common agricultural policy soaks up 40% of its budget. But Mr Modi has run away from reform. India’s food subsidies are massive, costing around 1% of GDP. They lead to huge stockpiles of unwanted, rotting produce, and fan pervasive corruption (see article). Giving poor families cash or food stamps would be better at helping the neediest while minimising waste—as Brazil, for example, has demonstrated. That is permitted under WTO rules. Mr Modi should be working to change the subsidy regime instead of scuppering a deal that would have benefited India.

So blame Mr Modi. But it was the job of Roberto Azevêdo, the WTO’s director-general, to iron out such differences between members. Indian dissatisfaction with the WTO rules was allowed to build until it broke the Bali agreement—just as has happened before with other developing countries, even though the new emerging powers have most to gain from the stagnant “Doha round” of trade-liberalisation talks.
The WTO’s troubles run deeper still. Its core belief in the value of global trade liberalisation is shared by this newspaper. But the way the WTO pursues this goal, by seeking grand bargains covering many industries, is not working. In theory it should promote dealmaking: Europe, say, will let in more South American farm produce in return for being able to sell more cars to South America. In practice, rioting French farmers don’t care whether Renault’s sales rise in Brazil. Attempts to strike comprehensive pacts have caused deadlock. The Doha talks have dragged on for almost 13 years. The last big trade round was concluded in 1994, before the WTO was created.
[419 words]


[Time 6]

Dead as a Doha

As the WTO has stumbled on, year after year, a “spaghetti bowl” of regional and bilateral trade agreements has filled the gap. This tangle of treaties, often with mutually incompatible rules, makes global pacts ever harder to reach. It also makes the bit of the WTO that works best—mediating between countries in trade disputes—less relevant.

So Mr Azevêdo should ditch the all-encompassing deals to pursue a number of modest ones covering specific industries: seek a deal on cotton, for instance, not one lumping together various bits of farming with customs facilitation (as in the Bali proposal). He should aim to get each done in a matter of months. In each case, if consensus is not reached, a “coalition of the willing” should be allowed to sign up and start reaping the benefits. The foot-draggers would be allowed to join later.

This would cut gamesmanship of the sort Mr Modi has just displayed. It would be a drastic departure from the way the WTO has done business. But two decades of sustained failure is too long. Don’t let the best be the enemy of the good. Better to have some small trade deals than none at all.
[202 words]

Source: The Economist
http://www.economist.com/news/leaders/21611064-world-trade-organisations-whole-approach-negotiating-free-trade-needs-radical-change-no

wnj2611339

Part III: Obstacle

The Exceptional Central Bank
Aug 2nd 2014 | From the print edition


The European Central Bank should adopt quantitative easing now rather than as a last resort


[Paraphrase 7]

ALONE among its peers, the European Central Bank (ECB) has resisted quantitative easing (QE). That policy—creating money to buy financial assets—has been used at varying times by the central banks of America, Britain and Japan to fight deflation and stimulate economies flattened by the financial crisis of 2008. Yet the ECB still shuns QE, treating it as a weapon of last resort, even though the euro zone is suffering from “lowflation”, with prices rising by just 0.5% in May and June, far below the bank’s target of almost 2%. Is it right or wrong to forgo a policy that has become standard practice elsewhere?

One reason to doubt the efficacy of QE in the euro area is that banks rather than markets dominate the provision of credit there. In America, in contrast, companies raise much of their funding in the bond markets. One of the main ways that QE has boosted the American economy is by lowering corporate borrowing costs. As the Federal Reserve bought Treasuries and government-guaranteed mortgage securities, pushing down their yields, investors turned to corporate bonds, in turn driving down their yields. This effect would necessarily be feebler in the euro zone.

This suggests that the ECB should work through the banks in fighting lowflation. It is striving to do that in two main ways. In June it brought its main lending rate down to a new low of just 0.15% and became the first big central bank to introduce negative interest rates, which in effect charge banks that leave deposits with the ECB. This has helped lower money-market rates in the euro zone almost to zero—and cap the appreciation of the euro, which was contributing to disinflationary pressures.
As well as this general stimulus to the euro zone, the ECB is also seeking to galvanise the recovery in southern Europe, where small firms in particular remain starved of credit. Mimicking a policy invented by the Bank of England—the funding-for-lending scheme—the ECB will make funds available at dirt-cheap rates to banks until 2018 as long as they do better in lending to the private sector (excluding household mortgages).

The new funding operations, starting in September, will take time to work their way through to the economy, but the ECB is prepared to be patient. It has always insisted on a long horizon for meeting its inflation target. It points to inflation expectations, gauged both through the financial markets and the views of professional forecasters. These suggest that inflation, despite its recent lows, will eventually return to the target of just under 2% and thus remains “anchored”.

Even if these forecasts are correct, however, the euro zone stands out among big economies for the depth and likely duration of its bout of low inflation. Lowflation is already hurting debtors in the euro area since their incomes are rising more slowly than they expected when they borrowed. Their plight would intensify if lowflation mutated to deflation. The real burden of debt rises when prices are falling. That effect would be especially pernicious in the euro area as levels of private and public debt are perilously high in many countries.

Moreover, the risk of deflation is greater than the ECB acknowledges. Deflation crept up on Japan in the 1990s even though inflation expectations remained positive. The ECB draws comfort from the consensus among forecasters that inflation will return to the target in five years’ time, but that view is more a vote of confidence in the ECB than a reading of the economic tea leaves. Inflation expectations over shorter horizons, as inferred from financial markets, have been falling. Consistent with this, broad money has been growing this year by only about 1%, which supports the case for QE to inject more money into the economy.

There is nothing to prevent the ECB from pursuing QE as well as its funding operations to promote higher lending to the real economy. Britain also relies more on its banks than does America, but that did not dissuade the Bank of England from deploying QE between 2009 and 2012. Moreover, it also launched the funding-for-lending scheme while it was still carrying out QE.

The ECB would be a late adopter of QE, but this in itself is an advantage, in that the policy has already been road-tested by more adventurous central banks. Early foreboding that QE would debase the currency and cause a debilitating inflationary surge has been discredited.

Paroled sovereigns
The real reason for the ECB’s allergy to QE lies in its unique status as a supranational central bank setting monetary policy for countries that retain fiscal sovereignty. Private-asset markets in the euro zone are not big enough for purchases to have much impact so, like the other big central banks, it would have to buy lots of government debt. But unlike its peers, it would be buying the debt of 18 different countries, in amounts linked to the respective sizes of their economies. These purchases would have a much bigger impact in peripheral Europe, where credit ratings are poor, than in Germany, which retains AAA status. The Bundesbank in particular fears that QE would relieve the pressure on less creditworthy countries to overhaul their economies and to keep deficits in check. And it would mutualise within the ECB the risk of holding dodgy sovereign debt.

These risks are real, reflecting the dash for a premature monetary union before the right fiscal and political conditions were in place. But the ECB already crossed the Rubicon in 2012 when it promised, if necessary, to buy unlimited amounts of the bonds of euro-zone governments under attack by investors. That guarantee saved the euro from the fury of the markets. However, a slide down a debt-deflation spiral could also create an existential crisis. In these circumstances patience is imprudent: the ECB should get a move on.
[975 words]

Source: The Economist
http://www.economist.com/news/finance-and-economics/21610262-european-central-bank-should-adopt-quantitative-easing-now-rather

疏离无罪

沙发~~~~~~~~~~~~~~~~~

Speaker: The money laundering crime happened in the office next door
legit=legitimate sham:fake,false  to evade:to avoid    to circumvent:to go around,to avoid

01:28
The economy growth rate of the America is declining after the 2008 recession.And the supply of workers and the rise in their productivity have both fallen short.Boosting demand may be a good way to solve short-term problems.

01:48
The longtime joblessness makes people unwilling and unable to find a job.And the aging of baby-boomers and restricted immigration policy are another reasons for the declining of worker supply.Obamacare and other walfare policy also makes people unwilling to have a job.

02:28
Improving workers's productivity is another way to solve the problem.But the growth in the average worker’s output per hour is declining,too.And the slow reovery and the government policy and polarised  politics make innovation,investment and situation worse.

03:04
The accident that Modi refused to sign the deal under WTO rules makes this organiztion think about changing its core rules now.The agriculture problem about WTO rules is wide-ranged in WTO members.Its old rules built 13 years ago is not working well now.

01:37
Those imcompatible treaties makes global pacts ever harder to reach.Some all emcompassing issues should be made to ensure businesses.At leat Small trade deals is better than none at all.

04:20
ECB restricted the use of QE and viewed it as the last resort,thought the euro zone is suffering from lowflation.Whether this is a right and effective action remained to be discussed.
One reason is that banks rather than markets dominate the provision of credit in euro zone.So the effect of QE may not be as strong as it is in the USA.So this suggested that ECB should work through the banks in fighting lowflation.And actually ECB took two measures to recover the economy.1 it brought its main lending rate down to a new low of just 0.15%  2  became the first big central bank to introduce negative interest rates.ECB is also seeking to galvanise the recovery in southern Europe by make cheap credit available to small firms there.
These actions may need time to have effect.But ECB is patient to wait for the result.However,even if these actions work,the euro zone will still be in trouble of low inflation.Moreover,the risk of deflation is greater than the ECB acknowledges.And the ECB seems to be confident of the recovery of inflation.The late adopt of QE may have advantages since it have already been tested.
The main reason for not adopting QE before is the paroled economic situation in the member coutries.Some may benefit from it while other's economy may be hurted.
There are still many risks,ECB shpuld get a move on.

vivianpdn

哎呀，米好意思，又抢个首页  占完碎觉！明天再卷土重来。。。

---------------------------------------------------------------------------------

2'34
main idea: America's potential growth rate is plummted.
1)unlike America's "new economy" in mid-1990s,America's economy is no longer.
2)potential slide has little practical impact.
3)solving short-term economy problems need boosting demand.

3'38
main idea: the disappearance of workforce.
1)the declining workforce is caused by recession and ageing baby-boomer population.
2)this vulnerabilities are exagerated by self-inflicted problem--policy.
   the obamacare is compared to the European welfare reforms.

3'57
main idea:the slump of productivity and who is to blame.
1)recent slump may change because firms need time to reaction.
2)politicians who would want to boost the economy are make things worse.
3)the impact of supply-side revolution is gradual.

3'10
main idea: WTO has to reform to survive.
1)WTO may at risk of stubborn refusal,which under the fine line.
2)set examples of some countries and historical statistics,WTO is to blame for the failure in dealing.

1'38
main idea:new access would depart from the way WTO has done business.

6'31
main idea: ECB's operation on low-inflation and what should it do next.
1)ECB resist QE.
2)some reasons to doubt QE.
3)so ECB should work through to fight low-inflation.
4)real risk of deflation.
5)real reason for ECB 's allergy to QE as setting monetary policy for countries to retain fiscal sovereignty.

herocool66

Speakers：
Do something with illegal money
the business is not legit:a front for money laundering.
sham-fake,a way for people to send them dirty money and legitimize those money
people who want to evade(aviod) taxes or to circumventcertain laws.
orgnize crime:drug lords, smugglers(bring illegal things to a country), and racketeers
Clark-awful;Susanna-exciting.
Time-2  
Back in the 1950s,the new ecnomic of America appeal people all over the world, but it did't last long. Since the recovery from the reccesion of 2008, the growth of America recently is estimated about 2%, to the lowest level of the post-war era.The important reason is that the supply workers and the rise in their productivity have both fallen short.
Solving the problem means boosting demand by keeping tax rates low and increacing supply by appealing more workers.
Time-3  
America's working-age rose very little at 2013 in contrast to 1990s. Workforce has fallen afer the recession because some people have lost their confidence to look for a job and older is rising fast.
America's broken immigration system makes it difficult to get into the country and that depress the supply of workers.Deportations and harder cross of southern border are also reasons.
On the other hand, Obamacare and the outdated safety net shrink the depression of workforce.
Time-4  
Main idea:The mystery of the slump in production and the measures of government
Sructure:
background:The innovation is speeding up while the translation to the higher output will delay because the recession and the politicians.
measures:Instead of increasing public spending on infrastructure and cutting the endless sprawl of job-destrying regulations, the politicians have produced schemes such as supply-side revolution and immigration reform in almost all these years, but their plans have fallen victim to America's polarized politics.
reaction of Americans:They have no one to blame but their leaders because the underwhelming pace of the America's economy.
Time-5
Main idea:The WTO's whole approach to negotiaing free trade needs radical change
Sructure:
background:Addressed by the WTO, an agreement to sreamline customs rules was refused by India's new prime minister,but the deal would benifit India.
reasons:India's prime minister has run away from reform; Rich countries set high tariffs.
measures:Retaining Doha Round; Promoting deal making instead of only seeking grand bargains.
Time-6
Main idea:What should the WTO do to survive
Structure:
background:A "spaghetti bowl"of trade agreements has filled the gap, makes global pacts ever harder to reach.
measures:The WTO should seek deals on the particular things instead of grand bargains with customs facilitation and aim to get each done.
result:The measure may violate what the WTO is doing now, but is better to have some small trade deals than none at all.
Obstacle
Main idea:The ECB should adopt QE now rather than as a last resort.
Structure:
background:The ECB has resisted QE that has been used many times by other rich countries.The reason is that euro banks rather than markets dominate the provision of credit.
measures:1)low down the main lending rate
         2)make funds at dirt-cheap rates to bank as long as they do better in lending to the private sectors.
suggestions:The ECB should adopt QE now after the policy has been road-tested by more adventurous central banks.
第一次跟阅读小分队，感觉压力还是很大的。。。我可以说我每天文章读完又忘了前面是讲了什么吗- - 然后我把每一篇都当作了精读，结果发现查出来了近百个生词，看来单词方面我是个彻头彻尾的渣渣。感谢早先交作业的几位同学的main idea structre的版式，思路清晰了不少，果然像baby姐说的，带着目的度确实会提升自己的pace。
PS：昨天看了猴哥他们讨论的“默读”问题，今天自己注意了一下，发现自己比想象的还严重，发现没见过的单词一定要在心里拼出来读法，结果大大影响了前面的内容记忆。。。希望可以慢慢改进。求大神多多指点！

charming9386

8 AUG

SPEED
America’s lost oomph(吸引力)
01:20 [284 words]
Structure:
          1)background
            In mid of 1990,the recovery was promising.BUT now,the prospect has plummeted sice 2008 because the recession is so deep
          2)determinants
            the supply of workforce and work productivity
          3)solution
            In short term,the government should encourage the demand,on the other hand,in long term,we need more workers and faster increases in productivity

01:31 [307 words]
Structure:
          1)background
           Because jobless people give up looking for work and the aging of baby boomer,the numeber of 50s and the old rise fast.
          2)paradox--self-inflicted problem
            the demand of workforce is shrink and depress the supply of work
          3)the lessons from Europe
            thanks to welfare reforms, the proportion of Europeans in the workforce is rising.
01:48 [415 words]
Mainidea:The mystery of the slump in productivity
Structure:
          1)the status quo
           raising productivity is hard and Internet innovation is slow compared to several decades years ago
          2)the measures
            government could boost investment and deter the FED from raising interest rates
          3)the voice from parties
            Thoughtful politicians have produced schemes for radical change but have fallen victim to America’s polarised politics
            
lumber 缓慢
underwhelmingadj. 未给人留下深刻印象的；未激起人们热情的

02:17 [419 words]
Mainidea:No more grand bargains
          The India disagree the WTO's decision even though the deal may benefit the India.

00:46 [202 words]
Mainidea:The india should realize that "Better to have some small trade deals than none at all" and do not become the next dead DOHA.


Obstacle
04:34 [975 words]
Mainidea:The Exceptional Central Bank
attitude:critical
Structure:The Europe accept QE and the ECB should get a move on

明天再看一遍Obstacle 好累 睡觉

shirleyyou03

Time2-1'50
Time3-2'07
Time4-2'48
Time5-3'23
Time6-1'26

Obstacles-7'29

Vickyoo

1、2’47” American’s economic growth was once 3.5%or higher in the 1990s, that is a high rate of growth while the unemployment rate and inflation rate are both low. But after the economic depression in 2008, it has not yet recovered. The unemployment rate is comparably high and the effectiveness of workers is low. To solve this problem means to boost both demanding and supply.
2、4’03”There are several reasons, one is that there’re fewer working-age Americans now, and people above 50 who are going to leave work increased. Another reason is that Obamacare discourage people to go to work. Thirdly, it’s the lack of training for people who lost their jobs. Fourthly, the government doesn’t raise the retire age like europea does.     
3、4’18” It’s important to raise productivity to boost the economy. Although there’re many innovations, the productivity didn’t increase because of these. The reason is that it take times to show effect in the productivity, especially in a period of recession. Government seems to do too little and Obama didn’t care too much on the economy.
4、5’03”The WTO has many problems in working. The author gives the example of India. The runner of the WTO didn’t do well and the organization benefit little in the trade between partners.
5、1’43” The author gives suggestion to the WTO, and implies that it didn’t do well in encouraging deals between partners.
Obatacle
The ESB will enact QE as a last resort. It has many problems, one is that the inflation rate is very low; secondly , the banks, not the market dominate the provision of credit. But, it also has some sort of reasonableness.

ffffionabear

感谢妹纸～～首页还有嘛～～
----无限感恩~！！进击的阅读小分队~~你的作业（ ￣ー￣）[冷笑]  不，是你的作业~~一天不做，浑身哆嗦~~--------------------------------------
[speaker]
business next door wasn't legit,it help people send them dirty money in business to do money laundering.Those money from organised crime,tax evader or something illegal.
[speed]
1'56
Data shows the era of America's "New economy" has gone,as the supple of workers and the rise of their productivity both fall.To solve this short-term problem.the Federal Reserve should pep up long-term growth.
1'33
The decrease of labor force can be attributed to two major reasons:the aging of baby boomers and the depression of recession.And politics immigration system and obamacare shrink the worker force as well.
2'28
It takes a while for firms to react to the technologies innovation,so the productivity slow down.And politics make that worse,Obama,as the least business-friendly president should be blame.
2'41其实我没看懂····
WTO collapse a big deal benefit India indeed by forbiding India expand food subsidies.WTO's core belief in the value of globe trade doesn't work.Countries care more about big deal.
1'19
But WTO still do a bit great work at mediating,so it should seek a deal on cotton instead of totally repudiate.
[obstacle]
4'52
main idea:　QE would be the last resort that the European Central Bank will take for:
1.the efficiency of QE in euro area will be feebler than U.S,because here banks dominate the supply of credit.
2.QE may intensify the plight of euro area by turning lowflation into deflation.
solution:Risks are real,ECB should take a move on.