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2019年11月21日 08:07:10

I spoke earlier to Bob Parker who's the deputy chairman of Credit Suisse asset management. I asked him whether he's impressed by the new highs in Asia and whether those numbers can be sustained.Well certainly it's justified by the high levels of growth that we are seeing in Asia. And you know, we stick with our view that Chinese growth for example this year will be well above 10 % may actually come out to 12 %. Um, and it also is justified by the high level of savings which are now being transfered from bank deposits into equity markets. Now having said that the Asian markets which we have been long of and have been recommending to our clients for at least the last 2-3 years are now becoming expensive. That our pockets are undervaluation in Asia and I would highlight the Japanese market, Taiwan and possibly, Thailand and Malaysia. But over all Asia has a block that's gone from being cheap two years ago to now expensive relative to other equity markets.So treat with caution but does that mean that we should be keeping on money mainly in Europe in the ed States or in the ed States or is there still a worry that we could see a slowdown which take the shine of those markets?Well I think the first point to make is that on our models, globally equities are cheap relative to other asset classes. So I think the equity market rally that we have had this year with the interuption in August. Um, I think taking a 3-6 months view is still intact. Within equity markets the geographic markets which are the cheapest today are still a core Europe, Germany France Italy. And quite very interestingly Japan. Japan on our model is gone(So it sounds like terribly,I mean we had a very very bad year last year)it's been...(and not so good to stride there.)it's just been one of the worst performing equity markets for the year last 18 months. And Japan 9 months ago looked very expensive now Japan is moving up to being one of the cheapest equity markets. In the last few days we have had 4 of the biggest banks, Merrilynch, Deutsche Bank, UBS and Citigroup announce huge write-downs in round numbers just those 4 are gonna write down 15 billion dollars in round numbers. Are you impressed with that? Does that draw the pain, draw the poison out of the subprime or equity crisis.I think the simple anwser is yes. Having said that the subprime market is 700 billion US dollars and we estimate that going into 2008 the default rate on subprime could actually rise close to 20%. So I think the subprime crisis is not over. It's gonna take months if not years to sort out.OK. What about the dollar though, I mean clearly we are looking at an ailing dollar. Does that suggest to you that there are a lot of imbalances and difficulties in the financial system of gain, of which we should beware as investors?Well I think the primary source of the problems for the US dollar is obviously the expectation that interest rates will come down further in the ed States and I think that's right. And the trade and current account deficit one of the surprises going into the 2008 may well be the improvement in the trade uh, in current account position of the ed States as we see an economy which is growing more moderately and therefore importing less. Against the Euro the dollar is clearly undervalued and I would be very surprised if we actually break out of this range of 140-145 one dollar Euro towards 150. I think we actually could be forming a base for the dollar against the Euro. It's a different question against the Asian currencies which I think appreciate on trend and one should obviously highlight the fact that the Japanese yen is probably now the most undervalued currency in the world. Notes:round numbers: A round number is a number that ends with one or more zeroes (0), meaning that they are multiples of 10, 100, 1000, and so on.200807/43914盐城/一院男科电话President Bush says America's election-year politics will not affect his commitment to keep U.S. troops in Iraq. Mr. Bush says his decision to send more troops to Iraq has helped improve security. 布什总统说,美国选举年的政治气氛不会影响他保留驻伊拉克美军的决心。布什总统认为他的增兵伊拉克的决定改善了那里的安全局势。President Bush says he will carefully consider the recommendations of U.S. military and diplomatic chiefs in Baghdad when they deliver their status report on the war next month. 布什总统说,在巴格达的美国军事和外交主管们下个月提交伊拉克战争局势报告时,他将仔细考虑他们的建议。But he told a convention of religious broadcasters in the southern state of Tennessee he can say his decision to send 30,000 reinforcements to Iraq last year is making a difference. 但是,布什在美国南部田纳西州出席一个宗教广播组织大会时说,他可以说他去年增兵3万到伊拉克的决定正使伊拉克出现变化。"Since the surge began, sectarian killings are down and al-Qaida has been driven from many strongholds it once held. I strongly believe the surge is working and so do the Iraqis," he said. 布什说:“自从增兵以来,教派屠杀减少了,基地组织被赶出了他们原来占据的许多据点。我坚信增兵正在产生作用。伊拉克人也这样认为。”President Bush says the success of the surge has allowed him to bring some U.S. troops home from Iraq. But the pace of future withdrawals will depend on the recommendations of the U.S. ambassador to Iraq, Ryan Crocker, and the top U.S. commander there, General David Petraeus. 布什总统说,增兵决定的成功容许他能从伊拉克撤回部分美军,但是,未来撤军的步伐将取决于美国驻伊大使克罗克和美军最高指挥官彼得雷乌斯将军所做的建议。Mr. Bush says troop withdrawals is a decision for commanders on the ground not politicians in Washington. "The politics of 2008 is not going to enter in my calculation. It is the peace of the years to come that will enter into my calculation," he said. 布什说,从伊拉克撤军要由战地指挥官们来决定,而不是由华盛顿的政客们来决定。布什说:“2008年的政治不会进入我的考虑过程。未来几年的和平才是我所评估考虑的。”The president says recent gains in Iraq are fragile and reversible because the enemy there is resilient. 布什总统说,最近在伊拉克取得的进步很不稳定,而且可能会出现倒退,原因是在伊拉克的敌人仍有可能反扑。White House Spokeswoman Dana Perino says this was the first in a series of speeches the president will give on the wars in Iraq and Afghanistan before next month's report from Ambassador Crocker and General Petraeus as well as April's NATO summit in Romania. 白宫发言人佩里诺说,在克罗克大使和彼得雷乌斯将军下月提交报告以及4月在罗马尼亚召开北约峰会之前,布什总统将就伊拉克和阿富汗的战争发表一系列讲话。布什总统星期二的讲话是这一系列里的首次讲话。All 26 members of the NATO alliance have troops in Afghanistan, but some have restrictions on their deployment that keep their soldiers out of areas where combat with Taliban fighters is more likely. 虽然北约所有26个成员国都在阿富汗驻有军队,但是,部分国家限制它们各自军队的部署,不让士兵驻扎在更有可能与塔利班作战的地区。President Bush wants more NATO troops on the front lines. At the Bucharest summit, he says he will thank alliance members for standing with what he says are the brave Afghans of a young democracy. "I will also ask NATO to join the ed States in doing even more. Now is the time for nations to make the hard decisions necessary so our children can grow up in a more peaceful world," he said. 布什总统希望有更多北约部队驻扎前线。在罗马尼亚布加勒斯特举行的峰会上,布什总统说,他将感谢北约联军成员国们与他所谓的一个年轻民主国家里英勇的阿富汗人民站在一起。布什总统说:“我还会呼吁北约和美国一道做得更多。现在到了该让北约国家做出艰难决定的时候了。这些决定势必让我们的子孙生活的世界更加和平。”The war in Iraq continues to be a big part of campaigning to succeed President Bush in . Presumptive Republican candidate John McCain generally supports the president's current policy in Iraq. Democratic contenders Barack Obama and Hillary Clinton both say they would move faster to withdraw more U.S. forces. 伊拉克战争仍然是目前美国总统竞选活动的主题之一。有望成为共和党总统候选人的麦凯恩总体上持布什总统现有的伊拉克政策。民主党的竞选人奥巴马和克林顿都说他们会更快从伊拉克撤出更多美军。200803/30137盐城体检哪里好Ah - Stop right there! Im sure everybody would like to know if Annas got the job停在这里!我肯定大家都想知道安娜是否得了到这份工作,but everybodys going to have to wait until weve heard her helpful phrases once again.但是我们要等一等,再来听听那些对她有帮助的表达。Can I make a suggestion?我能提个建议吗?Why dont you try looking in your recycle bin?为什么你不看看你的回收站?Have you tried asking your colleagues if theyve seen the memory stick?你有没有问过你的同事看见U盘了吗?How about...?……怎么样?Maybe I could do a big office search for you...?也许我可以在办公室给你找找?How about looking through your rubbish bin...?翻翻你的垃圾桶怎么样?I have an idea!我有一个主意!Anna, we need someone who can think on her feet and who is a first-rate people person.安娜,我们需要的是思想敏捷的人,并且十分善于和人打交道。Someone who sees solutions, not problems...someone like you!可以看到解决办法,而不是问题的人,像你这样的人!So if you want the job, its yours!所以如果你想要这份工作的话,那么它是你的了!Ah, now think carefully Anna – do you really want to work for these people?现在仔细想想吧,安娜。你真的愿意和这些人一起工作吗?They seem a bit...disorganised.他们似乎有点没有条理。I would definitely like the job! Thank you!我当然想要这份工作,谢谢!So be it. Join us again next week for Annas first day as a sales executive at Tip Top Trading.就这样吧。下周和我们一起看看安娜在Tip Top Trading第一天当销售主管的工作经历。 /201612/479870OECD Downgrades US Economic Outlook经济发展与合作组织对美经济悲观The Paris-based Organization for Economic Development and Cooperation (OECD) published a grim assessment Thursday of the ed States economy, saying it was close to recession. However, the OECD suggested European economies will likely fare better this year. 设在巴黎的经济发展与合作组织星期四对美国经济发表了一份悲观的评估报告,认为美国经济濒临衰退的边缘。但是该组织估计今年欧洲国家的经济状况很可能有所改善。The OECD downgraded its estimates for U.S. growth to just 0.1 percent for the first quarter of this year. Overall, the organization predicted the American economy would grow just 1.4 percent in 2008, far below its previous estimate in December of a two percent growth. 经济发展与合作组织估计,美国经济今年第一季度的增长率仅为0.1%。该组织预计,2008年美国经济的全年增长率为1.4%,大大低于去年12月作出的2%的预测。The OECD is an international economic research organization based in Paris.  经济发展与合作组织是设在巴黎的国际经济研究机构。OECD chief economist Jorgen Elmeskov says it might be premature to declare a recession in the ed States. But at a press conference in Paris, Elmeskov said the U.S. economy would be extremely weak for at least the first half of this year, hampered by a credit crunch and the collapse of the U.S. housing market. 该组织首席经济学家埃尔姆斯克夫说,现在就认为美国进入经济衰退还为时过早,但是他在巴黎举行的一次记者会上说,美国经济在信贷紧缩和住房市场崩溃的影响下,至少在今年上半年将极其衰弱。"It's hard to say how far advanced we are in the U.S. housing construction adjustments," he explained. "The share of GDP housing construction is probably down now to around somewhere like 3.8 percent of GDP. Which correspondents to the average level in previous slumps. But it is clear that this slump has got further to go. There are no signs from any indicator of construction activity that things are about to change."  埃尔姆斯克夫说:“还很难说美国住房建设调整究竟取得了多少进展。住房建设在美国国内生产总值中所占比例现在可能下降到3.8%左右,这和以前几次房市暴跌的平均水平相符。但是显然这次暴跌还有进一步向下的趋势,任何有关住房建设的指数都没有显示有出现转机的迹象。”The OECD said the so-called euro-zone economies - those European Union economies using the euro as their currency - have brighter prospects, and kept the prediction of 1.5 percent growth unchanged.  经济发展与合作组织表示,所谓欧元区经济体,也就是那些使用欧元的欧盟成员经济体的经济前景却比较光明,这些经济体的增长率仍然保持在原先做出的1.5%的水平。While a strong euro makes European exports more expensive, it also makes the price of oil cheaper. Still, the organization has raised alarm about possible inflation for the euro-area. 虽然欧元强劲使得欧洲出口商品的价格更加昂贵,但是同时也导致石油价格变得低廉,但是经济发展与合作组织依然对欧元区可能发生的通货膨胀做出警告。The OECD also issued a somewhat downbeat prognosis for Japan, predicting only a 1.5 percent growth rate for 2008, down from its earlier prediction of 1.6 percent growth. 该组织还对日本的经济前景发表了比较悲观的预测,认为日本2008年的经济增长率仅为1.5%,低于先前预测的1.6%。200803/31663盐城市中医院治疗便秘多少钱

盐城哪里治疗生殖器感染好江苏省阜宁县人民医院治疗女性疾病多少钱Market Share市场份额A: In this area NEST company is our main competitor is our main competitor. They entered the market in 2002, fifteen years later than us. But theyve been developing rapidly and now are the biggest in terms of market share.A: 在这个地区,NEST公司是我们的主要竞争对手。他们2002年进入市场,比我们晚了15年。但他们发展迅速,是市场份额而言,他们是最大的一家。B: We must admit theyve been doing well in product development. But they have their weakness at the moment. They have the lowest profitability.B: 我们必须承认他们的产品开发得很好。但是目前它们也有他们的不足之处。他们的利润很低。A: Yes, in terms of this we still have an advantage. But look at our second competitor, MTC. They entered the market almost at the same time as we did. They have a lower market share than us and their products are sold at slightly higher prices. But their annual return shows greater profitability. They are in strong position to overtake us soon.A: 是的,就这方面而言我们仍有优势。但是看看我们的第二个竞争对手MTC公司。他们几乎和我们同时进入市场。他们没有我们的市场份额大,他们的产品售价较高。但是他们年利润较大。他们处于强势地位,很快就会超过我们。B: We must realize where we are. Our products are not highly priced but less attractive than others. Were also getting the problem with reliability.B: 我们必须认清我们的处境。我们的产品价格不高但吸引力也不大,而且我们的信任度也成问题。A: I agree. Our market share is higher. This is important but profitability is equally important. We must become more competitive if we want to hold on to our market share and increase profitability.A: 我同意你的看法。我们的市场份额高这很重要,但是利润也同要重要。如果我们想保持住市场份额,增加利润,就必须更有竞争力。B: We should get the management and the working staff to realize our situation and call on everyone for effort.B: 我们应该让管理层和基层员工都意识到我们的处境并号召大家共同努力。 /201602/426615to be young at heart ---- 人老心不老(成语) 英文释义(IDIOM) To have a youthful, enthusiastic attitude, despite being old 例句My elderly neighbor is a great-grandmother, but she is to be quite young at heart, and she enjoys travel, lively parties, and conversations with bright young people.我的老邻居已经是一位曾祖母,但是她人老心不老,喜欢旅游,参加活跃的派对,与聪明的年轻人谈天。 /201609/466470盐城/市第三人民医院看男科好吗探索世界奥秘之The Ghost In Your Genes(基因外遗传现象) 11But could this effect be transmitted to their offspring?They found nearly 200 women of whom a number had actually been in the Twin Towers. About half of them developed post-traumatic stress disorder. We then looked at those women and found they had abnormal cortisol in their saliva. The most striking finding was, so did their babies. The argument in the Holocaust survivors had been that their children show abnormal stress hormones because they themselves have been stressed by listening to these tales recounted by their parents of their awful exposures during the 1940s. That could not be the case with the 9/11 survivors. These babies were one year old. Not only did infants had lower cortisol levels but they were different, depending on how pregnant the mother was on 9/11. The main effect was only seen with those mothers with PTSD who were pregnant in the last third of pregnancy. Mothers with equal levels of PTSD who were pregnant in the first and second third of pregnancy at 9/11, there was very little effect on the babies' cortisol. It suggested to us there couldn't just be about genetics, but there was something that was being transmitted in the late stages of pregnancy where the mother's symptoms were having some effect on the development of the offspring's cortisol system. It appeared that epigenetics might be responsible that an event had altered the stress response in the children . What these findings did was suggest to us that we need to be looking where we hadn't even considered looking before. To know for certain, that this was an epigenetic effect, they'll need to be sure that their observations weren't simply due to high levels of stress hormones in the womb. Now and here is the bit where we have to speculate. The animal work would suggest that this might then persist into the next generation. If they find the same stress effects in the children's children of 9/11, then it will be clear that a genetic memory of a stressful event can travel through the generations. That's the key thing next to find out. But the 9/11 population will be very very important for us to be able to follow what is a single discrete event.The work of Yehuda and Seckl offers tantalizing evidence of proof of inherited epigenetic effects in humans. But they need data that extends beyond just one generation. The only way forward was to look back to the past. In Sweden, Pembrey and Bygren had data that provided the chance to study the effects of famine through many generations.New Words amp; Phrases:tantalize: If someone or something tantalizes you, they make you feel hopeful and excited about getting what you want, usually before disappointing you by not letting you have what they appeared to offer. 强烈的诱惑, 逗惹200807/45048滨海县治疗肛瘘肛裂哪家医院最好的

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