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Before the global financial crisis, emerging economies like China aspired to "decouple" themselves from the rich world, hoping t
Before the global financial crisis, emerging economies like China aspired to "decouple" themselves from the rich world, hoping t
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2018-02-17
33
问题
Before the global financial crisis, emerging economies like China aspired to "decouple" themselves from the rich world, hoping that local demand and regional trade would sustain them even if Western markets faltered. After the crisis, rich economies aspired to couple themselves with China, one of the few sources of growth in a moribund world. Car-makers in Germany, iron-ore miners in Australia and milk-powder makers in New Zealand all benefited enormously from exports to the Middle Kingdom. Every company needed a China story to tell.
But as China slows and America gradually recovers, those stories are becoming less compelling. Some of them are turning into cautionary tales. Exposure to China does not always endear a firm to investors, as GlaxoSmithKline, a British pharmaceutical giant embroiled in a corruption scandal in the country, is now discovering.
As a rough gauge of multinational exposure to China The Economist in 2010 introdued the "Sinode-pendency index" (中国依赖指数), a stock market index that weights American multinationals according to their China revenues. The latest version of the index includes many of the member companies of the S&P 500 index (美国标准普尔500指数) that provide a usable geographical breakdown of their revenues.
The biggest members of the "Sinodependency index" are Apple, with an 11% weight in 2013, followed by Qualcomm (8. 3%) and Intel (7%). The top three firms in the index are more dependent on China now than they were. China accounted for 11. 2% of their revenues on average in 2015,compared with 9. 8% in 2009.
Although the dependence has risen, the rewards of members of the " Sinodependency index" have not. After handily outperforming the S&P 500 benchmark from 2009 to 2011, the Sinodependency index has since struggled to keep pace. So far this year it has risen by 9. 6%. That is far better than China’s own stock markets, which have fallen by over 9%. But both have been overshadowed by the much stronger performance of the conventional S&P 500 index, which is up by 18%. Perhaps the 367 S&P 500 companies that are not in our index should loudly proclaim their Sino-in-dependence.
The emerging economies want to decouple themselves from rich countries because______.
选项
A、they don’t want to be economically dependent on rich countries
B、they have enough resources and capitals to support themselves
C、they are unable to compete with economic powers like Germany or Australia
D、they can not even meet the local and regional demand
答案
A
解析
细节题。根据关键词decouple可以定位到第一段:“在全球金融危机前,像中国这样的新兴经济体一直不愿同发达国家掺和在一起,他们希望拉动内部需求,促进区域内贸易,这样即使在西方市场衰退之际也能保持经济发展。”选项[B]“新兴国家有足够的资源和资金支持自身发展”和[C]“他们无法与经济强国如德国和澳大利亚竞争”均没有提到。[D]“它们无法满足地区需求”,与文章意思相反。
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0
考研英语一
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