International trade：?Changing places

The pandemic will not end globalisation, but it will reshape it

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FOR A TIME economic?contagion?seemed more threatening than the?pathological kind. Though the spread of covid-19 was mainly in China, the damage was appearing along supply chains that produce the world’s goods, notably cars and consumer electronics. China is the world’s second-biggest exporter of parts, so as its factories shut down, manufacturers everywhere faced delays.?Even before the virus took off in South Korea, Hyundai had halted production because of a shortage of imported parts. The World Economic Forum (whose annual bash in Davos epitomises globalisation) advised companies to bring production closer to customers.

contagion ?n./k?n?te?d??n/??1.接觸傳染??There is no risk of contagion. 沒有接觸傳染的風(fēng)險(xiǎn)。2. 接觸性傳染病?3.[ C ] ( formal )（不良事物的快速）傳播，蔓延，擴(kuò)散

Pathological?adj. /?p?θ??l?d??kl/??1. 不理智的；無道理的；無法控制的??pathological fear/hatred/violence 無理由的恐懼╱憎恨╱暴行??a pathological liar 說謊成性者?2.病態(tài)的；與疾病有關(guān)的??pathological depression 病態(tài)的抑郁??3. 病理學(xué)的；與病理學(xué)相關(guān)的

halt /h??lt/ ?/h?lt/??V（使）停止，停下??She walked towards him and then halted. 她向他走去，然后停下。 ?The police were halting traffic on the parade route. 警察正阻止車輛在游行路線上行駛。N 1.停止；阻止；暫停??Work came to a halt when the machine broke down. 機(jī)器一壞，工作便停了下來。2.( BrE ) 小火車站（只有站臺(tái)）

epitomize ?v. /??p?t?ma?z/ ?( Bre also -ise)?[ VN ] 成為…的典范（或典型）? The fighting qualities of the team are epitomized by the captain. 這個(gè)隊(duì)的戰(zhàn)斗精神從隊(duì)長(zhǎng)身上體現(xiàn)出來。

bash /b??/ ?

1.~ (into sb/sth) ?猛擊；猛撞??He bashed her over the head with a hammer. 他用錘子猛擊她的頭部。 ?

2. 嚴(yán)厲批評(píng)??Bashing politicians is normal practice in the press. 嚴(yán)厲批判政治人物乃是新聞界常事。

PHRASAL VERBS 短語動(dòng)詞

1.?bash a?way (on/at sth)?bash ?on (with sth)?持續(xù)努力；持之以恒??He sat bashing away at his essay all day. 他一整天都坐著不停地寫文章。

2.?bash sth←→?down/?in不斷猛擊使之毀壞??The police bashed the door down. 警察用強(qiáng)力把門撞倒了。

3.bash sth←→?out大量粗制濫造??She bashed out about four books a year. 她一年大概炮制出四本書。

4.bash sb ?up?( BrE ) 猛擊某人

名詞：1.猛擊；重?fù)??He gave Mike a bash on the nose. 他照著邁克的鼻子狠狠地給了一下。?2.盛大的聚會(huì)；盛典??a birthday bash 生日慶典

IDIOMS 習(xí)語

1. have a bash (at sth)?( BrE informal ) ?嘗試做（沒有把握的事）

As the pandemic spread, location ceased to matter much. There was no escaping the disease: the world economy saw its deepest, most synchronised collapse on record. Some of the least globalised economic activities—restaurants, cinemas, fitness classes and other services—suffered most. More than goods, people stopped crossing borders; Davos 2021 was postponed. However, the supply-chain panic has left a lasting impression. For business, it is further evidence of the risks of distant disruption. For governments it offers more reasons to turn inward. The result is to accelerate changes to globalisation that were already in train.

cease ?v. /si?s/ ?（使）停止，終止，結(jié)束?? Welfare payments cease as soon as an individual starts a job. 一旦就業(yè)，即停發(fā)福利救濟(jì)。

Global supply chains were?forged?in the period from the mid-198os until the financial crisis 25 years later. Trade surged?in volume and changed in nature. It grew nearly twice as fast as global output, as emerging markets in Asia were bedded in to the world economy. After China joined the World Trade Organisation in 2001, its share of world exports of many parts and capital goods grew from under io% to over 30%.Countries often specialised not in specific goods, but in bits of them. Taiwan, South Korea and Japan made semiconductors for the consumer-electronics industry. China supplied parts to German carmakers. The rise of computing made such complexity manageable. Globalisation brought cheaper goods to the rich world and, thanks to what Ben Bernanke, then Fed chairman, called a?global saving glut, low interest rates. It also displaced many workers. Perhaps a million Americans lost their jobs to Chinese competition.

forge /f??d?/?

?1.[ VN ] ?艱苦干成；努力加強(qiáng)??a move to forge new links between management and workers 努力建立勞資新關(guān)系的措施

?2.?[ VN ] 偽造；假冒?to forge a passport/banknote/cheque 偽造護(hù)照╱鈔票╱支票?

3.[ VN ]鍛造；制作??swords forged from steel 用鋼鍛造的刀劍

?4.[ V + adv./prep. ]穩(wěn)步前進(jìn)??He forged through the crowds to the front of the stage. 他擠過人群穩(wěn)步走到臺(tái)前。

5.?forge a?head (with sth)?迅速向前；進(jìn)步神速??The company is forging ahead with its plans for expansion. 公司的拓展計(jì)劃正順利進(jìn)行。

glut ?/ɡl?t/ ?~ (of sth) ?供應(yīng)過剩；供過于求??a glut of cheap videos on the market 市場(chǎng)上供過于求的廉價(jià)錄像

The 2010S?slammed?on the brakes.?Trade?stagnated?as a share of GDP; foreign direct investment fell. As China’s middle class grew, it consumed domestically more of what it produced. Its share of world exports stopped rising in 2015, but its share of world imports continued to grow.As manufacturing became more automated, savings from locating production where workers were cheapest shrank. The rise of social media made consumer fads more volatile,?necessitating faster production and shipment to satisfy impatient buyers. “Just in time” delivery of parts worked better with closer suppliers. And disasters highlighted the risk of a specialised economy. The tsunami that hit Japan in 2011 cut Toyota’s production in America by nearly a third because of a shortage of parts, while flooding in Thailand?inundated?factories producing a quarter of the world’s hard drives. Firms began to see long supply chains as unwieldy?and risky. Trade started to concentrate in regional blocks. Globalisation became slowbalisation.

Slam v. 砰地關(guān)上；用力一放（或摔、推）；（非正式）碰撞，猛擊；突然采取行動(dòng)；闖，沖；（非正式）猛烈抨擊；輕松得分或戰(zhàn)勝；未經(jīng)允許接管賬單?n. 猛關(guān)（或摔、放、推等）；砰的一聲；詩歌朗誦比賽；（橋牌）滿貫

on the brakes：緊急剎車

stagnate ?v. /st?ɡ?ne?t/??1. 停滯；不發(fā)展；不進(jìn)步??Profits have stagnated. 利潤(rùn)原地踏步。2.因不流動(dòng)而變得污濁??The water in the pond was stagnating. 池塘里的水逐漸變成了死水。

Fad：?一時(shí)的風(fēng)尚；短暫的狂熱? the latest/current fad 最新╱當(dāng)前的時(shí)尚? a fad for physical fitness 一陣健身狂熱

inundate v. ??/??n?nde?t/??1.~ sb (with sth) ?使不勝負(fù)荷；使應(yīng)接不暇??We have been inundated with offers of help. 主動(dòng)援助多得使我們應(yīng)接不暇。2. 淹沒；泛濫?

unwieldy ??/?n?wi?ldi/ ?1.(東西) ?笨重的；笨拙的；不靈巧的2.(體制或團(tuán)體) ?難控制（或操縱、管理）的；運(yùn)轉(zhuǎn)不靈的；尾大不掉的

譯文

FOR A TIME economic?contagion?seemed more threatening than the?pathological kind. Though the spread of covid-19 was mainly in China, the damage was appearing along supply chains that produce the world’s goods, notably cars and consumer electronics. China is the world’s second-biggest exporter of parts, so as its factories shut down, manufacturers everywhere faced delays.?Even before the virus took off in South Korea, Hyundai had halted production because of a shortage of imported parts. The World Economic Forum (whose annual bash in Davos epitomises globalisation) advised companies to bring production closer to customers.

在很長(zhǎng)一段時(shí)間，經(jīng)濟(jì)類的傳染病似乎比生物學(xué)上的傳染病更危險(xiǎn)。雖然新冠疫情最初集中在中國(guó)傳播，但全球貨物供應(yīng)鏈都受此危害，特別是車輛與電子消費(fèi)品。中國(guó)是世界第二大的零部件出口商，當(dāng)它的工廠停工，世界各地制造商都面臨延遲。甚至在韓國(guó)疫情爆發(fā)前，現(xiàn)代因?yàn)槿狈M(jìn)口零部件而停工。全球化的典型代表--世界經(jīng)濟(jì)論壇（達(dá)沃斯經(jīng)濟(jì)論壇）（每年都在達(dá)沃斯舉辦）建議公司將生產(chǎn)線建設(shè)離客戶更近。

As the pandemic spread, location ceased to matter much. There was no escaping the disease: the world economy saw its deepest, most synchronised collapse on record. Some of the least globalised economic activities—restaurants, cinemas, fitness classes and other services—suffered most. More than goods, people stopped crossing borders; Davos 2021 was postponed. However, the supply-chain panic has left a lasting impression. For business, it is further evidence of the risks of distant disruption. For governments it offers more reasons to turn inward. The result is to accelerate changes to globalisation that were already in train.

隨著疫情擴(kuò)散，地理位置不重要了。人們已經(jīng)無處可逃：世界經(jīng)濟(jì)見證了它最深刻、最同步的崩潰。一些非全球化經(jīng)濟(jì)參與者--餐館、影院、健身及其他服務(wù)深受其害。不僅僅是產(chǎn)品，人類也停止跨境流動(dòng)；達(dá)沃斯論壇2021也延期舉辦。然而，供應(yīng)鏈恐慌帶來了持續(xù)的效果。對(duì)于商業(yè)來說，這是遠(yuǎn)距離供應(yīng)中斷的明證。對(duì)政府來說，這是國(guó)家向內(nèi)轉(zhuǎn)型的理由之一。它將加速已經(jīng)開出的全球化列車轉(zhuǎn)彎。

Global supply chains were?forged?in the period from the mid-198os until the financial crisis 25 years later. Trade surged?in volume and changed in nature. It grew nearly twice as fast as global output, as emerging markets in Asia were bedded in to the world economy. After China joined the World Trade Organisation in 2001, its share of world exports of many parts and capital goods grew from under io% to over 30%.Countries often specialised not in specific goods, but in bits of them. Taiwan, South Korea and Japan made semiconductors for the consumer-electronics industry. China supplied parts to German carmakers. The rise of computing made such complexity manageable. Globalisation brought cheaper goods to the rich world and, thanks to what Ben Bernanke, then Fed chairman, called a?global saving glut, low interest rates. It also displaced many workers. Perhaps a million Americans lost their jobs to Chinese competition.

全球化供應(yīng)鏈開始于80年代中期，于25年后的經(jīng)濟(jì)危機(jī)形成。貿(mào)易量瘋狂增加帶來了質(zhì)變。它幾乎是全球產(chǎn)出的兩倍，因?yàn)閬喼扌屡d市場(chǎng)投入世界經(jīng)濟(jì)的溫床。2001年中國(guó)加入WTO之后，其生產(chǎn)的零部件或生產(chǎn)資料占世界的出口量迅速?gòu)牟坏?0%增至30%以上。國(guó)家變得不是專門生產(chǎn)某一種產(chǎn)品，而是其中的零部件。中國(guó)臺(tái)灣、韓國(guó)、日本為電子產(chǎn)品生產(chǎn)半導(dǎo)體。中國(guó)為德國(guó)汽車制造商生產(chǎn)零部件。計(jì)算機(jī)的興起為這樣復(fù)雜的供應(yīng)管理成為可能。全球化為富裕的世界帶來更便宜的產(chǎn)品，此外，由于當(dāng)時(shí)美聯(lián)儲(chǔ)主席本·伯南克宣揚(yáng)的全球儲(chǔ)蓄過剩，還帶來了低儲(chǔ)蓄率。全球化也帶來了工人的失業(yè)。也許數(shù)以百萬的美國(guó)工人在與中國(guó)的競(jìng)爭(zhēng)中失業(yè)。

The 2010S?slammed?on the brakes.?Trade?stagnated?as a share of GDP; foreign direct investment fell. As China’s middle class grew, it consumed domestically more of what it produced. Its share of world exports stopped rising in 2015, but its share of world imports continued to grow.As manufacturing became more automated, savings from locating production where workers were cheapest shrank. The rise of social media made consumer fads more volatile,?necessitating faster production and shipment to satisfy impatient buyers. “Just in time” delivery of parts worked better with closer suppliers. And disasters highlighted the risk of a specialised economy. The tsunami that hit Japan in 2011 cut Toyota’s production in America by nearly a third because of a shortage of parts, while flooding in Thailand?inundated?factories producing a quarter of the world’s hard drives. Firms began to see long supply chains as unwieldy?and risky. Trade started to concentrate in regional blocks. Globalisation became slowbalisation.

本世紀(jì)10-19年?，這一切戛然而止。貿(mào)易占GDP份額停滯不前，外國(guó)直接投資下跌。中國(guó)中產(chǎn)階級(jí)增加，消費(fèi)比本土生產(chǎn)更多的產(chǎn)品。中國(guó)占世界出口份額自2015年原地踏步，但它占世界的進(jìn)口量份額持續(xù)增加。隨著制造業(yè)自動(dòng)化發(fā)展，將生產(chǎn)設(shè)在勞動(dòng)力便宜的地方所帶來的的成本降低也在縮減。社交媒體的興起讓消費(fèi)者消費(fèi)變得即興和反復(fù)，迫使企業(yè)加快生產(chǎn)和出貨來滿足沒有耐心的消費(fèi)者。零部件“準(zhǔn)時(shí)化”運(yùn)輸在臨近的供應(yīng)商內(nèi)運(yùn)作效果不錯(cuò)。但自然災(zāi)害凸顯了細(xì)分化經(jīng)濟(jì)的風(fēng)險(xiǎn)。2011日本大海嘯導(dǎo)致美國(guó)豐田公司由于缺乏零部件幾乎減產(chǎn)三分之一；泰國(guó)洪災(zāi)淹沒工廠占世界硬盤驅(qū)動(dòng)器份額的四分之一。企業(yè)開始將過長(zhǎng)的供應(yīng)鏈視笨拙而危險(xiǎn)。貿(mào)易開始集中在區(qū)域內(nèi)。全球化變成了“慢球化”。

經(jīng)濟(jì)學(xué)人11月刊