2015考研英语阅读英文原刊《经济学人》：印度身陷困境

　　Today India has a floating exchange rate and a government with almost no foreign-currencydebt.

　　今天，印度有浮动汇率，还有一个几乎没有外币债务的政府。

　　A slump in the currency poses no immediate threat to the government's solvency.

　　货币的贬值对政府的偿付能力没有直接的威胁。

　　The pain will be felt in other ways.

　　痛苦会以其他方式感受到。

　　Private firms that owe most of India's foreign debt will be under intense strain, particularlyif the rupee drops further.

　　欠了绝大多数印度外国债务的私人公司将会非常紧张，尤其是如果卢比进一步下跌。

　　Some will go bust.

　　有些公司会破产。

　　Market interest rates will stay high, causing a liquidity squeeze.

　　市场利率会居高不下，导致流动性短缺。

　　All this makes life even tougher for India's state-owned banks, which already have sour loansequivalent to 10-12% of their loan books.

　　这些情况使得印度国有银行的日子更难过，这已经恶化了等同于贷款账项的10-12%。

　　Inflation will rise.

　　通货膨胀会加剧。

　　And the government's finances will be under strain as the cost of its subsidies on importedfuel gets bigger.

　　政府财政会随着进口燃料补贴上升而承受巨大压力。

　　There is probably little the authorities can do to shore up the currency in the short term.

　　短期内，政府当局可能没有什么可以做支撑货币。

　　The rupee is one of the world's most actively traded currencies and at least half the turnoveris abroad.

　　卢比是世界上最活跃的交易货币之一，至少有一半的营业额在国外。

　　Privately, officials reckon the rupee's fair value, taking into account India's higher inflationand productivity over the past few years, is a little less than 60 per dollar, so the markethas yet to overshoot wildly.

　　私底下，考虑到近几年印度更严重的通货膨胀和生产率，官员认为卢比的公允价值低于1美元60卢比，所以市场还没有严重超过。

　　Raghuram Rajan, the incoming governor of the RBI, is likely to take a hands-off approach.

　　即将上任的印度央行管理人拉古拉姆·拉詹可能会采取不干涉的措施。

　　That doesn't mean the government will—or should.

　　这不意味着政府会或者必须这么做。

　　On August 19th it banned the import through airports of duty-free flat-screen TVs, whichIndians can often be seen heaving through check-in at Dubai.

　　8月19日，印度禁止空运进口免税平板电视，经常可以看到印度人在迪拜办理登记手续处拖着这些东西。

　　It may seek to raise duties further on gold imports, which Indians are addicted to in partbecause it is seen as a hedge against inflation.

　　印度人在某种程度上沉迷于此因为这被看做是来抵消通过膨胀造成损失。

　　Gross gold imports were 3% of GDP last year, blowing a huge hole in the external finances.

　　去年黄金进口总值是GDP的3%，给外部融资带来了巨大的损失。

　　History suggests the higher taxes on gold imports are, the worse smuggling gets.

　　历史表明进口黄金税收越高，走私越严重。

　　But India imports 800-odd tonnes of bullion a year. That's a lot of gold to hide in suitcases.

　　但是印度每年进口大约800公吨金条，那会有很多金子要藏在箱子里。

　　The government will also try to persuade the Supreme Court to lift its ban on iron-oreexports, imposed after a series of corruption scams.

　　在一系列腐败骗局发生后，政府也会试着说服最高法院解除铁矿出口的禁令。

　　At its peak this industry generated exports worth about 0.4% of GDP, although experts doubtthat mothballed mines can be ramped up fast.

　　在其全盛时期，这项工业出口价值约0.4%的GDP，虽然专家们怀疑封存矿山是否会增加很快。

　　The government may also cut fuel subsidies.

　　政府可能还会减少燃料补贴。

　　That would reduce demand for imported fuel and help it hit a fiscal-deficit target of about 7%of GDP.

　　这会减少对进口燃料的需求，并帮助达成GDP7%的财政赤字目标。

　　The longer-term solution to the balance-of-payments problem may be to ramp up India'smanufacturing sector, and thus its industrial exports.

　　国际收支差额问题的长期解决措施可能是增加印度制造业以及其工业出口。

　　But that will take a big improvement in the business climate, not just a cheap currency.

　　但是那样会大幅改善商业环境，不仅仅是廉价的货币。

　　Despite the rupee's 27% tumble in the past three years there is scant sign of globalmanufacturers shifting production to India.

　　虽然卢比价值在过去三年下跌了27%，有迹象表明全球制造商正将生产向印度转移。

　　India's position could still get worse.

　　印度的处境可能仍然在恶化。

　　But assuming things stabilise, when the official histories come to be written about 2013, whatmight they say?

　　但是如果形势稳定下来了，当要记载2013年的官方历史时，他们会说什么呢?

　　Most likely that the rupee's slump caused a severe shock to the economy that made arecovery in growth rates even harder.

　　最有可能的是卢比下跌对经济产生严重冲击，使得经济增长率恢复更加困难。

　　But perhaps, also, that it prompted a more serious debate about the policies that Indianeeds to become less vulnerable to the whims of an unforgiving world.

　　但是也有可能会激起更严肃的讨论，关于印度要变得更能应对变化多端难以应付世界。

　　词语解释

　　1.be vulnerable to 易受…,易于…

　　These were more vulnerable to blast because ofpoor framing and connections and were readilyburned out by fire.

　　由于构架安装和连结得不牢固，这种桁架更易受爆震波的破坏，并也易被火烧毁。

　　She is very young and vulnerable to temptation.

　　她很年轻，易受诱惑;易受骗上当。

　　2.short of 缺少;不远; 差一点

　　The government's debt burden leaves it short of money for infrastructure.

　　政府的债务负担使其缺乏用于基础设施建设的资金。

　　A repeat would leave developers short of cash to cover their costs.

　　如果当前重现这一幕，那么开发商将缺乏足够现金以负担成本。

　　3.take out of 取出;除去

　　Please take out of your order list, let's check the goods together.

　　请拿出您的订货单，我们共同核实一下货物。

　　Take out of microwave and add a chocolate chip on the yellow candy melt and the candycorn beak while the marshmallows and candy are still warm.

　　从微波炉里取出并在黄砂糖上加上巧克力块和鸟嘴状的玉米糖这时棉花糖和砂糖仍然是温热的。

　　8月底，很多高校2015年考研招生简章已经发布，请广大15年考生关注，预计到8月底9月初，2015年全国硕士研究生招生简章会陆续发布完成，新东方在线小编第一时间跟踪发布，请大家收藏关注！另有研究生专业目录、考研参考书等最新考研信息，帮助考生及时了解目标院校招生政策及信息。另有西医综合专业考试

新东方名师考研课程 购买进行中

【英语阅读资料】这里有↑↑↑