时代周刊，美国新闻周刊，美国经济周刊，美国新闻与世界报道

hageya

考研英语阅读很多来自国外杂志：时代周刊，美国新闻周刊，美国经济周刊，美国新闻与世界报道
段落：6到8段左右，字数500左右
靠一个人的力量很难把02年到06年7月的文章找全
大家把找到的文章都聚集在这里吧，方便大家也方便自己
我先开个头

SCORCHING; blistering; red hot. Chinese growth, which has been such a source of support for the world economy in recent years, is now often described as if it were something painful. For the second year in a row, the mainland's economy is expanding at a pace that looks too quick for comfort.

In the first quarter of this year GDP was 10.3% greater than a year before; the broad money supply grew by 19% in the 12 months to the end of May; and domestic bank lending jumped by four-fifths in the first five months of 2006, compared with the same period in 2005. All this liquidity is fuelling a frothy investment boom: fixed asset investment is rising at an annual rate of 30%, almost twice the official target. Exports, too, are surging, bolstering China's foreign-exchange reserves, which at almost $1 trillion are now the world's largest. Much of that money seeps back into the economy, further oiling the expansion.

The Chinese authorities are attempting to control this boom with exactly the same tools as they used in 2004: administrative controls to curb excessive investment in specific industries, overlaid with a sporadic tightening of monetary policy. Spending restrictions have already been tightened in industries such as aluminium, steel and cement. And last week Wen Jiabao, the prime minister, warned local governments and banks to stop financing so many construction projects. On June 16th the central bank, having raised its lending rates by 0.27 percentage points in April, demanded that commercial banks increase the ratio of reserves they deposit in its vaults by half a percentage point. Jun Ma, an economist at Deutsche Bank, expects policy to be tightened further, possibly through another rise in interest rates, in coming months.

Would that be enough? The measured response of the authorities two years ago was hailed as a success at the time. With hindsight, it appears too lax, given that the same problems have resurfaced so rapidly. Stephen Roach, chief global economist at Morgan Stanley, argues that China's economy is now simply too large -having grown so rapidly in the past couple of years -for microeconomic measures such as investment restrictions in specific industries to work. Instead, the authorities should use the macroeconomic levers at their disposal to slow growth, possibly by tightening fiscal policy or by allowing the yuan to strengthen. The Communist Party's fear of undermining its hard-won legitimacy by choking off growth is understandable. Yet unless it avoids what Mr Roach calls "the pitfalls of incrementalism? the likelier it is that China's economy will face a hard landing in the future.

China's excessive growth is not only of domestic concern. With much of the world increasingly worried about inflation, questions arise about what an overheating Chinese economy could do to global prices. It seems strange to worry about China exporting inflation -as Mervyn King, governor of the Bank of England, did recently -When the country's consumer-price inflation is less than 1.5% and its vast manufacturing (over)capacity has led to a steady drop in global goods prices from shoes to electronics. For the past few years, China's deflationary impact on manufactured goods -known as the "China price "- has outweighed its inflationary effect on commodities and capital goods.

But that balance may be changing, argues Jonathan Anderson, an economist at UBS in Hong Kong. Current data [in China] show that we are on the verge of an inflationary correction that will have a cyclical impact at home and abroad,?he says. After being squeezed between rising input costs and falling factory-gate prices, China's manufacturers are starting to raise prices to rebuild margins -and getting away with it because both domestic demand and exports are still far stronger than they were two years ago. Add in higher domestic food and energy prices and surging labour costs, and the China price may

研一手

太多了呀，买本小印的精读100篇，那上面的文章全都来自这4本杂志！

hageya

小印精读上的不全，他自己也这莫说，近两年的都没有，所以只有集合大家的力量