CHAPTER 1 Money 1
Background Case:Call for New 1,000-yuan Note Falls Flat 1
Listening 2
Reading:Personal Budgets 6
Translation 11
Speaking 13
Writing 14
Additional Reading:US Dollar History 14
CHAPTER 2 Banking 17
Background Case:Washington Mutual Closed in Largest US Bank Failure 17
Listening 18
Reading:The Grasshoppers and the Ants—A Contemporary Fable 21
Translation 27
Speaking 29
Writing 30
Additional Reading:How the Cards Are Cut 30
CHAPTER 3 Inflation 35
Background Case:Queen Wants a Pay Rise?! 35
Listening 36
Reading:The Great Inflation Cover-up 38
Translation 45
Speaking 46
Writing 47
Additional Reading:Inflation vs.Deflation 47
CHAPTER 4 Exchange Rates 51
Background Case:Life's a Beach as S Koreans Cash in on Rising Won 51
Listening 52
Reading:What Happens Ifthe Dollar Crashes? 54
Translation 59
Speaking 61
Writing 62
Additional Reading:China's Exchange Rate Policy and Trade Imbalances 62
CHAPTER 5 Business Cycle 67
Background Case:Ireland Offers Tips to Weather Recession 67
Listening 68
Reading:Graduates Face a Hard Road to the Top 70
Translation 75
Speaking 76
Writing 77
Additional Reading:Darwin's Recessionary Tip:Act like a Beetle 77
CHAPTER 6 The Role of Government 81
Background Case:Govt Steps Up Heat on Google 81
Listening 82
Reading:The Role of Government 84
Translation 91
Speaking 93
Writing 93
Additional Reading:The Declaration of Independence 94
CHAPTER7 Economic Crisis 99
Background Case:IMF Warns Global Financial Markets Fragile,Systemic Risks Elevated 99
Listening 100
Reading:The Specter of Stagflation 103
Translation 110
Speaking 112
Writing 112
Additional Reading:A Nightmare on Wall Street 113
CHAPTER8 Antitrust 117
Background Case:EU Files Antitrust Charges Against Intel 117
Listening 118
Reading:Monopoly 122
Translation 128
Speaking 129
Writing 129
Additional Reading:Mulling the Merger 130
CHAPTER 9 Intellectual Property Rights 133
Background Case:Kaspersky Claims Compensation from Rising 133
Corporation 133
Listening 134
Reading:The Crow and the Owl 137
Translation 144
Speaking 146
Writing 146
Additional Reading:Key Forms of Intellectual Property 147
CHAPTER 10 International Trade Barriers 151
Background Case:Chinese Exports Face More Technical Barriers 151
Listening 152
Reading:Free Trade Without the WTO 155
Translation 161
Speaking 162
Writing 163
Additional Reading:The Tariff Idea 164
CHAPTER11 Energy and Environment 167
Background Case:China Adopts Recycling Law to Boost Sustainable Development 167
Listening 168
Reading:Food vs.Fuel 171
Translation 178
Speaking 179
Writing 179
Additional Reading:Greenhouse Effect and Its Proposed Solutions 180
CHAPTER 12 Globalization 185
Background Case:Even the IBM PC and the Boeing 777 Aren't All American 185
Listening 186
Reading:Globalization,Yes,Globalization,No 189
Translation 197
Speaking 198
Writing 199
Additional Reading:Globalization in the World Economy 199