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[阅读小分队] 【Native Speaker每日训练计划】No.2766 经管

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发表于 2020-5-1 19:29:10 | 显示全部楼层 |阅读模式
内容:Angela Li 编辑:Winona Wu
Wechat ID: NativeStudy  / Weibo: http://weibo.com/u/3476904471


Part I: Speaker

Getting Back To Business
Cardiff Garcia& Stacey Vanek Smith, April 2020


Source: NPR
https://www.npr.org/2020/04/29/848111619/getting-back-to-business
[Rephrase 1, 9:11]

Part II: Speed


Lessons on Warmth in Leadership from NFL Commissioner Roger Goodell
STEVE HERTZ, APRIL 30, 2020

[Time 2]
This past weekend, the NFL held its annual draft virtually on Zoom, largely conducted from the basement of NFL Commissioner Roger Goodell’s home. Despite trepidation from many corners, it was a huge success, with record ratings and almost universal praise from commentators and those on social media. And that success is largely due to the NFL’s decision to dial up the warmth – authenticity, humility, and vulnerability – in a way that helped them better connect with fans this year. The NFL's virtual draft venture offers valuable lessons for business leaders of every stripe about how to better connect with colleagues, employees, and potential clients.

The NFL draft has become famous for the raucous energy from the live crowds who sit for hours to erupt in either cheers or boos when their team's pick is announced. All the while, there's one shared target of their boos: the commissioner himself. This year, the NFL didn’t have the ability to go live and many (myself included) feared the lack of energy would make for a dull event. But the opposite happened – without the energy from the live crowd, the participants doubled down on connecting with fans in a more intimate way, and it paid off.

Authenticity is key to likeability


It started at the top, with the notoriously cold commissioner himself. Watching Roger Goodell host the draft from his basement felt very much like one of President Franklin Delano Roosevelt’s famous fireside chats. Without the podium and commercialized antics, fans and viewers got to see a side of the buttoned-up Mr. Goodell that he’d never shown before. Fans saw that he’s actually a human being, with a wife and children and a basement! In fact, he gave fans a pre-draft tour of his basement and showed his favorite old chair he’s sat in to watch games for the past 30 years. He stood to announce the first round picks, but by the later rounds, he was nearly slumbering in the old chair. The man was tired – it’s a long draft – but fans have never seen a tired Roger Goodell before. That authenticity increased his likeability more than a plastered-on smile ever could.
[458 words]

[Time 3]
Goodell also showed vulnerability by playfully embracing his reputation. Every year, a hallmark of the draft is the crowd unanimously booing the commissioner, and this year, Goodell booed himself in with an audience track. He even helped raise money for the health crisis, with longtime league sponsor Bud Light pledging to contribute $1 for every fan who used the hashtag #Boothecommish. That seemingly small gesture also demonstrated the Commissioner’s humility: He let us know that he knows he’s not the fan favorite, but he wore it proudly. By acknowledging his own less-than-stellar reputation, he showed that he’s attentive to the fans, almost saying “you don’t like me, and I hear you.” By acknowledging their distaste for him, he was able to exhibit a kind of warmth previously inaccessible to him.

Relatability leads to connection

The uncharacteristic warmth of the virtual draft wasn’t just due to Goodell showing a different side of himself, but to the players as well. This year’s draftees were supposed to be taken to the stage in gondolas with the Bellagio fountains of Las Vegas in the background. Not many fans can relate to that level of opulence. They can, however, relate to draftees at home, crying and hugging their parents after fulfilling one of their life-long dreams. The players had their guard down and weren’t “on” as can often happen to any of us in unfamiliar surroundings. When someone is “on,” it often creates a barrier to true connection.

In my book, I share three qualities for success in any endeavor: the authority you exhibit, the warmth you convey, and the energy you bring out in others. It’s important to recognize how they work in tandem with each other and how one trait can help you soar if another is absent. For the NFL, everything is about authority—exhibited by its famous logo, “protecting the shield.” Player celebrations have been curtailed so much in recent years that the league has taken on the nickname: the NFL, No Fun League. And the draft is usually serious business, heightened by the live crowd's intense energy.
[347 words]

[Time 4]
The virtual draft couldn’t have been more different from the authoritative, raucous draft fans have come to expect. It was so unexpectedly raw and revealing that it left many fans hoping it never goes back to the old antiseptic ways. Unfiltered moments, like when we saw Patriots coach Bill Belichick’s dog, or a newly drafted player’s mom grab the phone out of his girlfriend’s hands, or the online commentators tweeting about the different personal items in the announcers' homes brought a level of intimacy and warmth that all the sports leagues should try to incorporate in future productions.

Everyone wants to be understood

There is a lesson in this for everyone. Depending on where you are in your career, you might want to ask yourself if you lack warmth, because it is perhaps the most underappreciated tool in the leadership toolkit.

In her brilliantly funny book, Maybe You Should Talk to Someone, psychotherapist Lori Gottlieb recounts counseling a couple in which the wife turned to her husband and said:

“You know what three words would be more romantic than I love you?’

‘You look beautiful?’ he tried.

‘No,’ his wife said, ‘I understand you.’”

That’s the essence of warmth—the sense of connection that springs from being understood and making the effort to understand. It’s not just a crucial factor in romantic love; it’s imperative in all successful relationships, including those in business. It’s where trust comes from, and its absence or presence can have tremendous implications across all areas of life.

Are you willing to show humility, vulnerability and show more of your humanity to a colleague, boss, employee, or potential client? When communicating with people, are you almost always “on,” or do you let your guard down enough to create a connection? Are you open, accessible, and allow yourself to be vulnerable? Do you let people see the real you, or at least a glimpse? If not, perhaps you should take a cue from Roger Goodell. Settle into your old comfy chair, take off your proverbial face mask, and let the world in. You might be surprised by all the great things you get “drafted” into.
[360 words]

Source: Entrepreneur
https://www.entrepreneur.com/article/349935



Special Report: Trump told Saudis: Cut oil supply or lose U.S. military support - sources

TIMOTHY GARDNER, STEVE HOLLAND, DMITRY ZHDANNIKOV, RANIA EL GAMAL, APRIL 22, 2020

[Time 5]

WASHINGTON/LONDON/DUBAI (Reuters) - As the United States pressed Saudi Arabia to end its oil price war with Russia, President Donald Trump gave Saudi leaders an ultimatum.

In an April 2 phone call, Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries (OPEC) started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the kingdom, four sources familiar with the matter told Reuters.

The threat to upend a 75-year strategic alliance, which has not been previously reported, was central to the U.S. pressure campaign that led to a landmark global deal to slash oil supply as demand collapsed in the coronavirus pandemic - scoring a diplomatic victory for the White House.

Trump delivered the message to the crown prince 10 days before the announcement of production cuts. The kingdom’s de facto leader was so taken aback by the threat that he ordered his aides out of the room so he could continue the discussion in private, according to a U.S. source who was briefed on the discussion by senior administration officials.

The effort illustrated Trump’s strong desire to protect the U.S. oil industry from a historic price meltdown as governments shut down economies worldwide to fight the virus. It also reflected a telling reversal of Trump’s longstanding criticism of the oil cartel, which he has blasted for raising energy costs for Americans with supply cuts that usually lead to higher gasoline prices. Now, Trump was asking OPEC to slash output.

A senior U.S. official told Reuters that the administration notified Saudi leaders that, without production cuts, “there would be no way to stop the U.S. Congress from imposing restrictions that could lead to a withdrawal of U.S. forces.” The official summed up the argument, made through various diplomatic channels, as telling Saudi leaders: “We are defending your industry while you’re destroying ours.”

Reuters asked Trump about the talks in an interview Wednesday evening at the White House, at which the president addressed a range of topics involving the pandemic. Asked if he told the crown prince that the U.S. might pull forces out of Saudi Arabia, Trump said, "I didn't have to tell him."

"I thought he and President Putin, Vladimir Putin, were very reasonable," Trump said. "They knew they had a problem, and then this happened."

Asked what he told the Crown Prince Mohammed, Trump said: "They were having a hard time making a deal. And I met telephonically with him, and we were able to reach a deal" for production cuts, Trump said.
[431 words]

[Time 6]
Saudi Arabia’s government media office did not respond to a request for comment. A Saudi official who asked not to be named stressed that the agreement represented the will of all countries in the so-called OPEC+ group of oil-producing nations, which includes OPEC plus a coalition led by Russia.

“Saudi Arabia, the United States and Russia have played an important role in the OPEC+ oil cut agreement, but without the cooperation of the 23 countries who took part in the agreement, it would not have happened,” said the Saudi official, who declined to comment on the discussions between U.S. and Saudi leaders.

The week before Trump’s phone call with Crown Prince Mohammed, U.S. Republican Senators Kevin Cramer and Dan Sullivan had introduced legislation to remove all U.S. troops, Patriot missiles and anti-missile defense systems from the kingdom unless Saudi Arabia cut oil output. Support for the measure was gaining momentum amid Congressional anger over the ill-timed Saudi-Russia oil price war. The kingdom had opened up the taps in April, unleashing a flood of crude into the global supply after Russia refused to deepen production cuts in line with an earlier OPEC supply pact.

On April 12, under pressure from Trump, the world’s biggest oil-producing nations outside the United States agreed to the largest production cut ever negotiated. OPEC, Russia and other allied producers slashed production by 9.7 million barrels per day (bpd), or about 10% of global output. Half that volume came from cuts of 2.5 million bpd each by Saudi Arabia and Russia, whose budgets depend on high oil-and-gas revenues.

Despite the agreement to cut a tenth of global production, oil prices continued to fall to historic lows. U.S. oil futures dropped below $0 last week as sellers paid buyers to avoid taking delivery of oil they had no place to store. Brent futures, the global oil benchmark, fell towards $15 per barrel - a level not seen since the 1999 oil price crash – from as high as $70 at the start of the year.

The deal for supply cuts could eventually boost prices, however, as governments worldwide start to open their economies and fuel demand rises with increased travel. Whatever the impact, the negotiations mark an extraordinary display of U.S. influence over global oil output.

Cramer, the Republican senator from North Dakota, told Reuters he spoke to Trump about the legislation to withdraw U.S. military protection from Saudi Arabia on March 30, three days before the president called Crown Prince Mohammed.
[414 words]

[Time 7]
Asked whether Trump told Saudi Arabia it could lose U.S. military support, U.S. Energy Secretary Dan Brouillette told Reuters the president reserved the right to use every tool to protect U.S. producers, including “our support for their defense needs.”

The strategic partnership dates back to 1945, when President Franklin D. Roosevelt met with Saudi King Abdul Aziz Ibn Saud on the USS Quincy, a Navy cruiser. They reached a deal: U.S. military protection in exchange for access to Saudi oil reserves. Today, the United States has about three thousand troops in the country, and the U.S. Navy’s Fifth Fleet protects oil exports from the region.

Saudi Arabia relies on the United States for weapons and protection against regional rivals such as Iran. The kingdom’s vulnerabilities, however, were exposed late last year in an attack by 18 drones and three missiles on key Saudi oil facilities. Washington blamed Iran; Tehran denied it.

THIRTEEN ANGRY SENATORS

Trump initially welcomed lower oil prices, saying cheap gasoline prices were akin to a tax cut for drivers.

That changed after Saudi Arabia announced in mid-March it would pump a record 12.3 million bpd – unleashing the price war with Russia. The explosion of supply came as governments worldwide issued stay-home orders - crushing fuel demand - and made clear that U.S. oil companies would be hit hard in the crude price collapse. Senators from U.S. oil states were infuriated.

On March 16, Cramer was among 13 Republican senators who sent a letter to Crown Prince Mohammed reminding him of Saudi Arabia's strategic reliance on Washington. The group also urged Commerce Secretary Wilbur Ross to investigate whether Saudi Arabia and Russia were breaking international trade laws by flooding the U.S. market with oil.

On March 18, the senators – a group that included Sullivan of Alaska and Ted Cruz of Texas – held a rare call with Princess Reema bint Bandar bin Sultan, the Saudi ambassador to the United States. Cramer called the conversations “brutal” as each senator detailed the damage to their states’ oil industries.

“She heard it from every senator; there was nobody that held back,” Cramer told Reuters.

The Saudi embassy did not respond to requests for comment.

Cramer said the princess relayed their comments to officials in Saudi Arabia, including the energy minister. The senators told the princess that the kingdom faced rising opposition in the Senate to the Saudi-led coalition that is waging a war in Yemen against Houthi rebels.

Saudi and U.S. officials have said the Houthis are armed by Iran, which Tehran denies. The backing of Senate Republicans over Yemen had proved crucial for Saudi Arabia last year. The Senate upheld Trump vetoes of several measures seeking to end U.S. weapons sales and other military support to Saudi Arabia amid outrage over the Yemen conflict, which has caused more than 100,000 deaths and triggered a humanitarian crisis.
[476 words]

[The Rest]
Cramer said he made a phone call to Trump on March 30, about a week after he and Sullivan introduced their bill to pull U.S. troops from Saudi Arabia. The president called Cramer back the same day with Energy Secretary Brouillette, senior economic adviser Larry Kudlow and U.S. Trade Representative Robert Lighthizer on the call, the senator said.

“I said the one person that you don’t have on the call that can be very helpful is Mark Esper,” the defense secretary, Cramer recounted, saying he wanted Esper to address how U.S. military assets in Saudi Arabia might be moved elsewhere in the region to protect U.S. troops.

The Pentagon did not respond to a request for comment on whether Esper was involved in discussions of pulling military assets out of Saudi Arabia.

BENDING THE KNEE

Trump’s oil diplomacy came in a whirlwind of calls with Saudi King Salman, Crown Prince Mohammed and Russian President Vladimir Putin starting in mid-March. The Kremlin confirmed Putin’s conversation with Trump and said they discussed both oil supply cuts and the coronavirus pandemic.

On the April 2 call with Prince Mohammed, Trump told the Saudi ruler he was going to “cut them off” the next time Congress pushed a proposal to end Washington’s defense of the kingdom, according the source with knowledge of the call. Trump also publicly threatened in early April to impose tariffs on oil imports from Saudi Arabia and Russia.

After the conversation with the Saudi crown prince, and another the same day with Putin, Trump tweeted that he expected Saudi Arabia and Russia to cut output by about 10 million barrels, which “will be GREAT for the oil & gas industry!"

Riyadh and Moscow later confirmed they had restarted negotiations.

On April 3, Trump hosted a meeting at the White House with senators Cramer, Cruz, and Sullivan, and oil executives from companies including Exxon Mobil Corp <XOM.N>, Chevron Corp <CVX.N>, Occidental Petroleum Corp <OXY.N> and Continental Resources <CRL.N>.

During the public portion of the meeting, Cramer told Trump that Washington can use the billions of dollars it spends defending Saudi Arabia on other military priorities “if our friends are going to treat us this way.”

The prospect of losing U.S. military protection made the royal family “bend at the knees” and bow to Trump’s demands, a Middle Eastern diplomat told Reuters.

After prolonged and fractious negotiations, top producers pledged their record output cut of 9.7 million bpd in May and June, with the understanding that economic forces would lead to about 10 million bpd in further cuts in production from other countries, including the United States and Canada.

Trump hailed the deal and cast himself as its broker. “Having been involved in the negotiations, to put it mildly, the number that OPEC+ is looking to cut is 20 Million Barrels a day…” he tweeted shortly after the deal.

Riyadh also took credit. Saudi energy minister Prince Abdulaziz told Reuters at the time that the crown prince had been “instrumental in formulating this deal.”
[503 words]

Source: yahoo! finance

https://uk.finance.yahoo.com/news/trump-told-saudis-cut-oil-110231595.html

Part III: Obstacle

Stocks Are Recovering While the Economy Collapses. That Makes More Sense Than You'd Think.
ZACHARY KARABELL, APRIL 29, 2020

[Paraphrase 8]

On March 23, U.S. stock markets closed the day after a multi-week plunge of nearly 30%. This drop coincided with a wave of lockdowns across the country, as well as similar moves throughout Europe, Latin America and South Asia. Since then, the U.S. economy has been in free-fall, with more than 26 million people filing for unemployment, waves of retail stores on the edge of bankruptcy, energy and oil companies teetering on the brink, travel grounded, and the GDP was down 4.8% in the first quarter and this quarter is likely to be much worse. The stock market? Overall, stocks are up across all indices more than 30% from that low point in late March.

What is going on? How can it be that stocks are soaring when the economy is crashing? Market movements are often head-scratching, but in this case, the answer may be relatively simple: because of moves by the Federal Reserve, financial markets are awash in money, vast, water-hose supplies of money. Since March, the Fed has committed to lend or buy trillions of dollars of financial assets, which by some estimates might end up exceeding $8 trillion dollars by the time all is said and done. No one knows how high that figure will climb. By way of comparison, during the last financial crisis in 2008-2009, the Fed ended up adding about $3 trillion over the course of several years.


And it’s not just the Fed. Congress has allocated almost $3 trillion in economic aid; the Bank of Japan is doing much the same as the Fed for the world’s third largest economy; the European Central Bank is not far behind, and multiple governments around the world are following suit.


The result is that even as real-world economies freeze and implode in the short-term, financial markets are buoyed by a tsunami of liquidity.


That troubles many investors, who see either sharp spikes of inflation or dire reckoning ahead for stocks and bonds. Respected investor Jeffery Gundlach, one of the most influential bond managers, warned this week that markets will soon head south fast and the people should be more “wary of panaceas.” Analysts at Bank America posit that the recent market strength is simply a dead-cat bounce like what happened in 2008 before a more intense crash later that year. Others believe that all the liquidity in the world cannot compensate for the collapse of real-world economic activity and these moves by the Fed and governments are the equivalent of flooding a drought stricken area with water for a few days. It feels like a relief, but if there is no rain in the months after, it does little good.


And yet, there is something else going on that should give pause to the belief that market strength is a head fake. If it were only about a sea of money floating everything, then you would think that stocks across the board would be going up. That is not the case.


In fact, there is a dramatic difference in how individual companies are faring that reflects a cold-eyed assessments of how they will do in a pandemic world. Companies that are seen as especially vulnerable, such as retail stores spread across malls, are seeing stock declines of 50% and have only recovered marginally since March 23. The Gap, Macy’s, Michael Kors, all face daunting prospects, and no amount of liquidity in financial markets will paper that over. Energy companies, with plunging demand for oil and high debt loads, are in some cases on the verge of bankruptcy, and even the survivors like oil service giant Schlumberger (based in Houston) has seen its stock more than halved since March. The same is true for airlines and hotels. Yes, JetBlue’s planes will eventually fly and have passengers, but there is no guarantee that they will be operated by a company called JetBlue two years from now.


On the flip side, clear beneficiaries of the current upheaval are doing well. Five mega-tech companies – Amazon, Apple, Microsoft, Facebook and Google – alone make up $5 trillion of market cap, and Amazon in particular has seen its stock go up more than 30% since mid-March. Costco and Clorox have seen booming business along with Walmart, as has the video conference company Zoom.


So while markets are not moving on real-time economic fundamentals, they are moving on reasonable judgements of fundamentals going forward and distinguishing between industries that look to be hardest hits from those that might even benefit from the dramatic economic dislocations that COVID-19 responses are creating. If everything were going up indiscriminately, that would indicate markets were fully detached. There are not.


And for those who – understandably – might see all of this as yet further proof that once again, the financial world will get saved at the expense of tens of millions of real people and millions of small companies will get sacrificed, this time it is different. The Fed, for instance, is committed to purchasing hundreds of billions of dollars of municipal bonds at favorable rates, which will mean that cash-strapped state governments should be able to retain teachers and policemen and programs even if Congress proves negligent as Mitch McConnell seems to be pushing for. That will mean that pensions for public servants remain intact. The Fed also is about to lend another $500 billion to Main Street businesses, which is coming too late to avoid the pain of the last month but will still matter greatly to the ability of companies to move forward and eventually rehire. The most visible effect of the money in motion now is the stock market, but that will be not the sole beneficiary as more Fed money flows to states and Main Street.


So while it appears crazy that markets are doing relatively well as the world economy burns down, there is a method to the madness that reflects some potentially positive realities of an otherwise dire time. That may be small comfort just now, but it is a clear reminder that as bad as things are just now, they actually could be considerably worse.

[1014 words]

Source: TIME

https://time.com/5828898/stocks-recovering-economy-collapses-makes-sense/



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发表于 2020-5-1 20:53:44 发自手机 Web 版 | 显示全部楼层
T2 1:33
T3 2:03
T4 1:55
T5 2:01
T6 1:09
T7 3:01
TR 2:45
OB 9:01

发表于 2020-5-1 22:23:21 发自手机 Web 版 | 显示全部楼层
T2 3'12[458 words]
T3 2'43[347 words]
T4 2'47[360 words]
T5 3'19[431 words]
T6 3'08[414 words]
T7 3'27[476 words]
发表于 2020-5-1 23:37:32 发自手机 Web 版 | 显示全部楼层
Obstacle: 7”34 [1014]
发表于 2020-5-2 00:07:06 | 显示全部楼层
trepidation  raucous  podium  buttoned-up   opulence  work in tandem with each other  raucous  underappreciated  proverbial  ordered his aides out of the room
02:40
NFL's draft provided a good example for leaders around the world to boost connections with their employees and potential customers.
        1.
Authentity is the key to be likable.


02:24
        1.
Highly involvement in the draft improve connection between Goodell and listeners.


02:02
        1.
The power of understanding cannot be underestimated.


02:20
Trump threatened SA to cut the oil supply or he will withdraw  military for this country.
01:51
Cutting oil supply will increase the oil price in the long term.
02:50
The strategic partnership had a long history. However,  Cramer are now facing warning from senators about such relationship.
02:03
Renegotiation held by leaders from Russia, SA and U.S.
发表于 2020-5-2 00:50:08 | 显示全部楼层
T2 2‘30
T3 2'20
T4 1'44
trepidation恐惧的 commentators评论员 raucous刺耳的 slumber麻木状态 Hallmark特点 unanimous全体一致
league联盟 antiseptic防腐的
发表于 2020-5-2 07:42:49 | 显示全部楼层
T5 3'30
T6 2'49
T7 3'15
The rest 2'07
ultimatum最后通牒 upend颠倒 diplomatic外交的 coalition联合 troop军队 momentum势头动力 unleash发泄
slash大幅削减 senator参议员 infuriated激怒 prolonged延长 fractious倔强的 pledge保证、抵押
发表于 2020-5-2 09:40:28 | 显示全部楼层
time 2: 2'09"
time 3:1'37"
time 4: 2'10"
time 5:1'30"
time 6: 1'43"
time 7+the rest: 3'16"
OB:6'25"
发表于 2020-5-2 10:39:03 | 显示全部楼层
T2: 3'26
T3: 3'19
T4: 2'40
T5: 3'31
T6: 3'16
T7: 3'30
T8: 2'39
OBSTACLE: 5'14
发表于 2020-5-2 11:35:56 | 显示全部楼层
Time 2 3’45
The latest annual draft of the NFL has received high praise from both commentators and social media because of the NFL’s decision on dial up the warmth-authenticity, humility, and vulnerability-in a way that helped them better connect with fans this year.
Then the passage starts to explain the change in detail.
Time 3 6’
Authenticity is key to likeability
Commissioner of NFL, Goodell, often is regarded cold before, but his recently showed his real life, booed himself in with an audience track and even helped to raise money for health crisis. These behavior, the authenticity, increased his likeability.
Time 4 8’
Relatability leads to connection
Another change was done by the players. They were more willing to engage with fans which narrowed the gap between them and fans.
Understanding is the essence not on ly of warmth but also in all successful relationships, including those in business.
Sometimes, if you show authenticity ,humility and vulnerability , you may receive a bonus which you never expert.

Trepidation :to fear or worry about what is going to happen
Raucous: loud and unpleasant
Erupt in either cheers or boos 爆发。。。 boo喝倒彩
Podium:领奖台
Antics:噱头
Slumber: sleep
Likability:讨喜
Opulence:富裕
Curtail 限制

The authenticity increased his likeability more than a plastered-on smile ever could.
That’s the essence of warmth-the sense of connection that springs from being understood and making the effort to understand
Settle into your old comfy(comfortable)  chair, take off your proverbial(common) face mask , and let the world in. You might be surprised by all the great things you get “drafted” into.

Time 5+Time6+Time7 the rest 6’24
Saudis: 沙特

Obstacle 8‘45
U.S stock markets has begun rising after a multi-week plunge. What is the reason behind it when the economy is crashing these days because the covid-19 virus? The answer may be is because of moves by the Federal Reserve. Like U.S, other countries like Japan, countries in Europe adopt the same method to stimulate the market. On the other hand, investors and analysts believe that the liquidity in the world cannot compensate for the collapse of real-world economic activity and the move by the governments can only have a short-term effect to the market. What’s more, the performance of stocks varies among different industries, the stocks of traditional industries which hit by covid-19 are declining while mega-tech companies’stocks are soaring. The author expresses his concern to the development of the crazy market.

Awash : 充满的
Implode:崩溃

The result is that even as real-world economies freeze and and implode in the short-term, financial markets are buoyed by a tsunami of liquidity.
Liquidity 资产流动性

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