商务英语阅读复习题
I.
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15.
Give the full name of the following
IMF International Monetary Fund G-7 Group of Seven
NYSE New York Stock Exchange FDI foreign direct investment
QFII Qualified Foreign Institutional investors ASEAN Association of South East Asian Nations GDP Gross Domestic Product ADB Asian Development Bank PBOC People’s Bank of China
AIM Alternatives Investment Market
OECD Organization for Economic Cooperation and Development WTO World Trade Organization WWF World Wildlife Fund OTC over-the-counter
OPEC Organization of Petroleum Exporting Countries
II. Fill the blanks with the proper forms of the words and expressions given
1. The objective is not to provide a template for a business plan, but to give hints, based on the experience of those who have already done it, be they entrepreneurs or investors.
2. Protectionist policies do not work and the collateral damage from these policies is high. 3. The higher the discount, the more _incentive buyers have to pay early. Sellers can thus adjust credit terms to influence when customers pay their bills.
4. London’s dramatic renaissance as perhaps the world’s leading financial center has been a
well-documented phenomenon in recent years.
5. During the 1980s, creating value through financial techniques (junk bonds, leveraged buyouts, financial asset repackaging) was tried.
6. The elevator pitch is a one-paragraph description of the business, presented as if you were in an elevator with an investor.
7. Once, one of the leading-edge high-technology firms in the world, Hewlett-packard began to
lose some of its luster in the mid-1990s. 8. They like catchy titles, tend to read in diagonals, and have a short attention span. 9. Short-term expenditures are incurred regularly in a firm’s everyday business activities. 10. But if reforms enacted in Singapore bolster confidence in the IMF, everybody wins — and
future anniversaries should be happy affairs.
11. China’s voracious appetite for imports – up an astonishing 40% alone in 2003 – underscores
the increasingly powerful trade linkages that China exerts on the rest of the world.
12. Keep in mind that the first review of a business plan is an elimination process, rather than a selection process. 13. The comination of urbanization, demand for new infrastructure, and the rapid expansion of
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its manufacturing platform, has had a profound impact on China’s consumption of industrial materials and its impact on global commodity markets.
14. But one thing that cannot be ignored is a crisis of consumer trust that has contributed to the
current lackluster performance, at least to a significant extent. 15. Don’t underestimate competitors’ ability to catch up and don’t forget bricks-and-mortar
companies moving online.
16. Emerging markets remain vulnerable to financial-market turbulence—we saw a mild version
of this in May.
17. The Ministry of Commerce issued new rules on mergers and acquisitions, including a number
of vague provisions that appear to give the ministry wide powers to review and halt mergers. 18. There are risks to the global economy posed by mounting trade imbalances, especially the
US’s trade deficit (around 6% of GDP) and the soaring surpluses in emerging Asia, some European economies, and oil-producing nations.
19. Yet China, despite its economic heft, has fewer votes at the IMF than any of the G-7 nations. 20. Like may 5-year-olds, California’s Vycon corporation is going through a growth spurt. 21. Many foreign firms have been aggressively expanding their operations in China over the past
several years, due to deregulation and wider access to the local market than in the past. 22. They tend to view these goods as guaranteeing superior quality and premium services. 23. But AIM’s quality control is outsourced to 85 so-called Nominated Advisers, or Nomads. 24. China will have no choice but to use whatever methods it has to recoup that lost share and build up a stable of companies that can be serious competitors on a global scale.
25. What is needed is a workable way to implant entrepreneurial thinking inside the corporate walls in such a way that wealth can be created on ongoing basis.
26. All of these fads had their moment in the sun, but none have been able to extend the
corporate life cycle appreciably.
27. Many CEOs have more power and influence over their compensation level than they should. 28. They devote more time to managing the company’s stock price (so they can exercise their
stock options) than they do to growing the business through organic growth or strategic expansion.
29. The IMF is also taking steps that address some of the misgivings about the way it has worked
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in the past to prevent and resolve financial turmoil.
30. Due to the fact most of the work carried out by middle managers is hands-on, they can kill a new idea.
31. In fact, any given manager is likely to be engaged in each of these activities during the
course of the day.
32. Too tiny to trade on New York City’s NASDAQ, the company focused instead on another
market catering to ambitious upstarts like Vycon. 33. They would rather look at the coherence of figures and check that they are consistent with
the strategy.
34. Determined never to be at the mercy of foreigners again, many Asian countries have since built up huge foreign-exchange reserves as a buffer against financial shocks.
35. Some CEOs have encouraged their organizations to take large short-term risks and then
cashed out their options before the long-term problems appear.
36. They spell out previously unclear procedures for foreign purchases of Chinese companies. 37. There is a bias towards promoting those who toe the line which means the status quo
becomes entrenched deeply in the business.
38. Ironically, one of the major reasons for its slide could be traced back to what had once been a major strength.
39. By 1998, however, problems had become apparent, and no one could quite figure out what was going on.
40. Mangers, by and large, focus on revenue and asset growth. 41. Consequently, many middle-managers view themselves as the protectors of the corporate
history, particularly in light of the fact that CEOs come and go more rapidly these days. 42. To plan for funding flows, financial managers want to know in advance the amounts of new accounts payable as well as when they must be repaid.
43. This policy sets standards as to which buyers are eligible for what type of credit. 44. A developer of mechanical energy-storage devices (essentially batteries made of flywheels
rather than chemicals), the firm is beefing up production of some of its gadgets tenfold this year to quench demand.
45. This is why some Chinese firms such as Haier and Lenovo are rapidly eating into their
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