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- 2013-3-2
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- 1970-1-1
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Speaker: Now we are experiencing a shift from marketing economy, which is a tool of improving production of activities, to market society, which is a way of life and exists in all aspects in our lives such as education and health. There are two reasons of worrying about this: equally and attitudes towards critical things such as teaching and learning. We need to think about where market operates and where it does not. We need to think about whether everything is put there to sell and whether everything can has a price.
Time2 02:44
This part begins with the fact the US is the largest economy in the world. So it has profound impact on the global economy. After the shutdown of government, if administrators cannot reach an agreement on the debt ceiling, an economy shutdown will come and bring more severe impacts on the global economy than the financial crisis in 2008.
Time3 01:57
This part continues to discuss the impacts of refusing raising the debt limit in US. If the US does not raise the debt ceiling, its bonds around the world will lose their value. This may even destroy banks and financial market all over the world. Besides, it will reduce the credit and confidence of other countries and banks towards the US. So the US will suffer from it more. Also, if economy shutdown happens, it will improve the status of China and other currencies which are more credible than dollar.
Time4 02:25
This part illustrates the history of the economy growth in western countries. It concludes with two opposite arguments. One said that only indiscriminate deficit reduction can help those developed countries to flourish again.
Time5 02:37
This part disproves the two arguments above. It says that there are five factors that enhance the economy of advanced countries to take off in the past—the improving proportion of education, financial innovations, the development in technology, the unleashing of global trade and the spreading of social safety. But nowadays these five factors cannot improve the economy grow as they did in the past. The golden age has come to an end.
Time6 03:00
According to Adam Smith, it is most comfortable living in a rising economy, good living in a stable country and miserable in a declining economy. In fact, nowadays those advanced countries suffers from economic problems and the only way to help is to reform.
Tim7 01:29
This part concludes that the decline in economy taught us that the promises made in good days cannot last when the bad days come. And there will be many changes in economy and society if we recognize the situation and decide to keep honesty in developing economy.
Time8 07:05
This article discusses the different point of view towards the opening of the SFTZ and its impacts on the internal and external traders as well as the economy of China. |
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