Lesson4TheSino-USTrade&EconomicRelations

（1）U.S.policyontrade

AfterBillClintonenteredtheWhiteHouse,tochangethedepressedstateoftheU.S.economy,theadministrationformulatedanewforeigntradepolicy,turningfreetradeinto“fairtrade”andmakingeffortsinexpandingoverseasmarketssoastocreatenecessaryconditionsforrevitalizationoftheeconomy.Thenewpolicyhasthefollowingdistinctfeatures:Inprinciple,theyone-sidedlyemphasizeprotectionoftheU.S.owneconomicinterest;Inpractice,theyapplytheAmericantradelawsandimposeunilateralsanctions;Instrategy,theyusepressureandhavetheirtradingpartnersincreaseAmericanimportstobalancetheUStrade.(2)Sluggish蕭條的，缺乏活力的(Para.1)

IthasbeenstudiedinLesson1andpleasereview.(3)scapegoat替罪羊(Para.1)

根據(jù)摩西制定的法律規(guī)定，在贖罪日那天，在古代的宗教儀式中，原來有兩只山羊。一只是"國王山羊"（theLord'sgoat），在儀式中要充當(dāng)祭品。另一只羊?qū)⒊袚?dān)所有人所犯下的罪惡，被逐之荒野，它象征著所有罪惡都被它帶走，每個人都可以重新開始，思考悔過。。這只幸運(yùn)的羊免于充當(dāng)祭品，就被叫做escapegoat或scapegoat。需要指出的是，在古代希伯萊文《圣經(jīng)》中，那只被放生的羊叫Azazel。Azazel被翻譯成英文是goatthatdeparts（離去的羊），后來就說成了escapegoat。在1530年廷代爾翻譯的《圣經(jīng)》版本中，英語中才有了scapegoat這個詞。19世紀(jì)早期，scapegoat才發(fā)展出非宗教方面的用法，指替別人承擔(dān)罪惡和過錯的意思。諷刺的是，scapegoat在原來的宗教儀式中本來被放生，可以免于懲罰；而在現(xiàn)代英語中，scapegoat卻要承擔(dān)所有別人犯下的過錯。Fallguy英語中有些詞語是從體育用語演變成日常用語的?！癴allguy(替罪羊)”這個詞語就是一個很好的例子。所謂“替罪羊”就是指由別人決定來當(dāng)輸家或犧牲品的人。最早的“fallguy”是一些靠摔跤掙錢的人。20世紀(jì)末，摔跤在美國是一項十分盛行的運(yùn)動。摔跤比賽不僅在大城市里舉行，也在農(nóng)村交易會和巡回表演中進(jìn)行。摔跤比賽的目的是把對手的雙肩按在地上。雙肩著地叫做“fall”，就是在摔跤中把對手摔輸。但是隨著這項運(yùn)動的流行，它日益失去了運(yùn)動的本色。許多比賽都是實現(xiàn)安排好的表演。摔跤手事先都知道誰是贏家。如果一個摔跤手比賽前被買通好，他就會甘愿輸?shù)舯荣?，就是在比賽中“takeafall”。這個人就叫做“thefallguy”?，F(xiàn)在，“fallguy”已經(jīng)演變成為“替罪羊”，就是受騙代人受過的人。替罪羊總是要takestherap，即背黑鍋。whippingboy最初指的是，封建時代，為王子或貴族伴讀的男孩，因為王子或貴族做錯了事而代為收鞭打。如今，大多只使用它的比喻意：充當(dāng)替罪羊的人或物，代人受過。這個短語在實際生活中用的很多。如：

Heisjustawhippingboyinthisaccident.

在這次事故中他只是替罪羊。We'reverymuchawhippingboyintheacademiccommunity.

我們實在只是學(xué)術(shù)圈里的替罪羊。Patsy就是apersoneasilytakenadvantageof,cheated,blamed,orridiculed，意思是“容易受騙的人、替罪羊、膽小鬼”。Patsy的起源一直是個謎。一種說法認(rèn)為patsy可能來源于意大利語中的pazzo，意思是“瘋狂的，蠢的”。另一種推測認(rèn)為pasty的“愚蠢”之意可能來自PatsyBolivia，PatsyBolivia是流行于18世紀(jì)的“走唱秀”中的一個人物，每次演出結(jié)束，他都會遭到譴責(zé)。這種說法的可能性較大，因為19世紀(jì)晚期，Pasty在報刊中剛剛出現(xiàn)時，就是被作為一個固有名稱來使用的。說到patsy，就不能不提scapegoat。Scapegoat也有“替罪羊”的意思。但是二者又有區(qū)別。Patsy除了“替罪羊”的意思之外，還指“愚蠢的，易上當(dāng)?shù)娜恕?。而scapegoat則是在完全不知情的情況下充當(dāng)了頂罪人，受到不公正的指責(zé)。(4)competitiveadvantage競爭優(yōu)勢（Para.3）

MichaelPorter'sNationalDiamondThefourdifferentcomponentsoftheframeworkare:FactorConditionsRelatedAndSupportingIndustriesDemandConditionsStrategy,Structure,AndRivalryPlustwomore：TheroleofgovernmentChance（5）Balanceofpayment國際收支（Para.4）IMFdefinitionTheIMFdefinition:"BalanceofPaymentsisastatisticalstatementthatsummarizestransactionsbetweenresidentsandnonresidentsduringaperiod."Thebalanceofpaymentscomprisesthecurrentaccount,thecapitalaccount,andthefinancialaccount."Together,theseaccountsbalanceinthesensethatthesumoftheentriesisconceptuallyzero."Thecurrentaccountconsistsofthegoodsandservicesaccount,theprimaryincomeaccountandthesecondaryincomeaccount.Thefinancialaccountrecordstransactionsthatinvolvefinancialassetsandliabilitiesandthattakeplacebetweenresidentsandnonresidents.Thecapitalaccountintheinternationalaccountsshows(1)capitaltransfersreceivableandpayable;and(2)theacquisitionanddisposalofnonproducednonfinancialassets.Thebalanceofpaymentsidentitystatesthat:CurrentAccount=CapitalAccount+FinancialAccount+NetErrorsandOmissionsThisisaconventionofdoubleentryaccounting,wherealldebitentriesmustbebookedalongwithcorrespondingcreditentriessuchthatthenetoftheCurrentAccountwillhaveacorrespondingnetoftheCapitalandFinancialAccounts:X+Ki=M+Kowhere:X=exportsM=importsKi=capitalinflowsKo=capitaloutflows(6)purchasingpower購買力(Para.5)Purchasingpoweristhenumberofgoods/servicesthatcanbepurchasedwithaunitofcurrency.Forexample,ifyouhadtakenonedollartoastoreinthe1950s,youwouldhavebeenabletobuyagreaternumberofitemsthanyouwouldtoday,indicatingthatyouwouldhavehadagreaterpurchasingpowerinthe1950s.Currencycanbeeitheracommoditymoney,likegoldorsilver,orfiatcurrencylikeUSdollarswhicharetheworldreservecurrency.AsAdamSmithnoted,havingmoneygivesonetheabilityto"command"others'labor,sopurchasingpowertosomeextentispoweroverotherpeople,totheextentthattheyarewillingtotradetheirlabororgoodsformoneyorcurrency.Ifmoneyincomestaysthesame,butthepricelevelincreases,thepurchasingpowerofthatincomefalls.Inflationdoesnotalwaysimplyfallingpurchasingpowerofone'srealincome,sinceone'smoneyincomemayrisefasterthaninflation.RefertothetermPurchasingpowerparity（whichhasbeendiscussedinLesson1）(7)Holddowntheinflationrate降低通貨膨脹率(Para.6)

RefertothetermswhichhasbeendiscussedinLesson2(8)Aweakeningdollar日趨疲軟的美元(Para.6)Weak/softcurrencyV.S.Strong/hardcurrency(9)theTreasuryandU.S.Treasuries[英、美]財政部和美國國庫券(Para.7)

theTreasury[英、美]財政部theMinistryofFinance[其他國家]財政部TreasurySecretary[美]財政部長ChancelloroftheExchequer[英]財政部長FinanceMinister[其他國家]財政部長FederalReserveSystem(FedorFRS)美聯(lián)儲，美國央行g(shù)overnor央行行長president其他銀行行長U.S.Treasuries美國國庫券（governmentsecurities/bonds）(10)subsidiaries子公司（Para.9）MultinationalCompany:Parentcompanyanditssubsidiaries(willbediscussedindetailsinLesson6)(11)outsourcing外部采辦-外包(Para.9)Outsourcingissubcontractingaprocess,suchasproductdesignormanufacturing,toathird-partycompany.Thedecisiontooutsourceisoftenmadeintheinterestofloweringcostormakingbetteruseoftimeandenergycosts,redirectingorconservingenergydirectedatthecompetenciesofaparticularbusiness,ortomakemoreefficientuseofland,labor,capital,(information)technologyandresources.Outsourcingbecamepartofthebusinesslexiconduringthe1980s.ItisessentiallyadivisionoflabourOutsourcinginvolvesthetransferofthemanagementand/orday-to-dayexecutionofanentirebusinessfunctiontoanexternalserviceprovider.Theclientorganizationandthesupplierenterintoacontractualagreementthatdefinesthetransferredservices.Undertheagreementthesupplieracquiresthemeansofproductionintheformofatransferofpeople,assetsandotherresourcesfromtheclient.Theclientagreestoprocuretheservicesfromthesupplierforthetermofthecontract.Businesssegmentstypicallyoutsourcedincludeinformationtechnology,humanresources,facilities,realestatemanagement,andaccounting.Manycompaniesalsooutsourcecustomersupportandcallcenterfunctionsliketelemarketing,CADdrafting,customerservice,marketresearch,manufacturing,designing,webdevelopment,contentwriting,ghostwritingandengineering.Offshoringisthetransferofanorganizationalfunctiontoanothercountry,regardlessofwhethertheworkisoutsourcedorstayswithinthesamecorporation/company.Withincreasingglobalizationofoutsourcingcompanies,thedistinctionbetweenoutsourcingandoffshoringwillbecomelessclearovertime.ThisisevidentintheincreasingpresenceofIndianoutsourcingcompaniesintheUnitedStatesandUnitedKingdom.Theglobalizationofoutsourcingoperatingmodelshasresultedinnewtermssuchasnearshoring,noshoring,andrightshoringthatreflectthechangingmixoflocations.ThisisseenintheopeningofofficesandoperationscentersbyIndiancompaniesintheU.S.andUK.Amajorjobthatisbeingoutsourcedisaccounting.TheyareabletocompletetaxreturnsacrossseasforpeopleinAmerica.Multisourcingreferstolargeoutsourcingagreements(predominantlyIT).Multisourcingisaframeworktoenabledifferentpartsoftheclientbusinesstobesourcedfromdifferentsuppliers.Thisrequiresagovernancemodelthatcommunicatesstrategy,clearlydefinesresponsibilityandhasend-to-endintegration.Strategicoutsourcingistheorganizingarrangementthatemergeswhenfirmsrelyonintermediatemarketstoprovidespecializedcapabilitiesthatsupplementexistingcapabilitiesdeployedalongafirm’svaluechain(seeHolcomb&Hitt,2019).Suchanarrangementproducesvaluewithinfirms’supplychainsbeyondthosebenefitsachievedthroughcosteconomies.Intermediatemarketsthatprovidespecializedcapabilitiesemergeasdifferentindustryconditionsintensifythepartitioningofproduction.Asaresultofgreaterinformationstandardizationandsimplifiedcoordination,clearadministrativedemarcationsemergealongavaluechain.Partitioningofintermediatemarketsoccursasthecoordinationofproductionacrossavaluechainissimplifiedandasinformationbecomesstandardized,makingiteasiertotransferactivitiesacrossboundaries.ReasonsforoutsourcingCostsavings

FocusonCoreBusinessCostrestructuringImprovequalityKnowledgeContractOperationalexpertiseAccesstotalentCapacitymanagementCatalystforchangeEnhancecapacityforinnovationReducetimetomarketCommodification

Riskmanagement

VentureCapitalTaxBenefit(12)infrastructure基礎(chǔ)設(shè)施(Para.10)Thebasicfacilities,equipment,servicesandinstallationsneededforthegrowthandfunctioningofacountry’seconomy.Itcanrefertoabroadrangeofenterprises,withperhapstwogeneralcharacteristics:1)thegoodsorservicestheyproduceaugment（增強(qiáng)或增大的正式用法）theproductivityofotherindustriesand2)theyareusuallyundertakenbypublicbodies.Someinfrastructureindustriesarevirtuallyrequiredforotherproductiontotakeplace;roads,railroads,electricity,andwatersupply,andsewagedisposalareprimeexamples.Others,particularlytheserviceindustry,suchaspublichealth,urbantransportation,education,andevenhousing,merelycontributetotheproductivityofotherindustriesoftenthroughanincreaseintheproductivityoflabor.Thecrucialroleplayedbyinfrastructureinallowingotherindustriestooperatehasplacedthemhighindevelopmentalinvestmentpriorities.Yettheroleispassive,notformative,theyallowotherindustriestoex