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Part Ⅱ Listening Comprehension (30 minutes)
Section C(复合式听写调整为单词及词组听写,短文长度及难度不变。)
Directions: In this section, you will hear a passage three times. When the passage is read for the first time, you should listen carefully for its general idea. When the passage is read for the second time, you are required to fill in the blanks with the exact words you have just heard. Finally, when the passage is read for the third time, you should check what you have written.
Teenagers will be told to “stand up for their elders” on public transport—or risk losing their right to free travel. London Mayor Boris Johnson will 26__________ plans today to make youngsters sign a “ 27__________ pledge ” to promise to behave in a 28__________ manner when travelling in the capital.
The three-point pledge states that they will give up their seats to the elderly, 29__________ and disabled; refrain from using 30__________ or threatening language; and be courteous and polite to fellow passengers and staff.
Those who refuse, or are caught behaving in a rude manner, will have their free travel passes 31__________ .
The plan—a key part of Mr. Johnson’s re-election bid—will initially affect the 400,000 11-to-15-year-olds in London who qualify for free travel cards, but Conservative sources believe the idea could be used across the country.
A Conservative insider said, “The initiative 32__________ the push to create a Big Society. It is about changing culture and 33__________ around behavior to improve the atmosphere on buses and trains for everyone. ”
Speaking before today’s launch, Mr. Johnson said he 34__________ tackle the anti-social behavior of a “minority of youngsters” on public transport.
“When I was a boy, I was taught to stand up for those less able to,” he said. “Youngsters enjoy the privilege of free travel, which is paid for by Londoners, but they have to understand that with that privilege comes responsibility. ” Anyone who abuses this privilege will have it taken away, and will have to earn that right back.
Teenagers who are found 35__________ violating the new behavior code will lose their travel passes. They will have to carry out unpaid community work to have them restored.
Part Ⅲ Reading Comprehension (40 minutes)(原快速阅读理解调整为长篇阅读理解,篇章长度和难度不变。篇章后附有10个句子,每句一题。每句所含的信息出自篇章的某一段落,要求考生找出与每句所含信息相匹配的段落。)
Section B
Directions: In this section, you are going to read a passage with ten statements attached to it. Each statement contains information given in one of the paragraphs. Identify the paragraph from which the information is derived. You may choose a paragraph more than once. Each paragraph is marked with a letter. Answer the questions by marking the corresponding letter on Answer Sheet 2.
Five Problems Financial Reform Doesn’t Fix
[A] The legislation concerning financial reform focuses on helping regulators detect and defuse (减少 的危险性)the next crisis. But it doesn’t address many of the underlying conditions that can cause problems.
[B ] The legislation gives regulators the power to oversee shadow banks and take failing firms apart? convenes a council of superregulators to watch the megafirms that pose a risk to the full financial system, and much else.
[C] But the bill does more to help regulators detect the next financial crisis than to actually stop it from happening. In that way, it’s like the difference between improving public health and improving medicine: The bill focuses on helping the doctors who figure out when you’re sick and how to get you better rather than on the conditions (sewer systems and air quality and hygiene standards and so on) that contribute to whether you get sick in the first place.
[D] That is to say, many of the weaknesses and imbalances that led to the financial crisis will survive our regulatory response, and it’s important to keep that in mind. So here are five we still have to watch out for:
1. The Global Glut (供过于求)of Savings
[E] “One of the leading indicators of a financial crisis is when you have a sustained surge in money flowing into the country which makes borrowing cheaper and easier,” says Harvard economist Kenneth Rogoff. Our crisis was no different: Between 1987 and 1999, our current account deficit—the measure of how much money is coming in versus going out—fluctuated between 1 and 2 percent of gross domestic product. By 2006, it had hit 6 percent.
[F] The sharp rise was driven by emerging economies with lots of growth and few investment opportunities—think China—funneling their money to developed economies with less growth and lots of investment opportunities. But we’ve gotten out of the crisis without fixing it. China is still growing fast, exporting faster, and sending the money over to US.
2. Household Debt—and Why We Need It
[G] The fact that money is available to borrow doesn’t explain why Americans borrowed so much of it. Household debt as a percentage of GDP went from a bit less than 60 percent at the beginning of the 1990s to a bit less than 100 percent in 2006. “This is where I come to income inequality,” says Raghuram Rajan, an economist at the University of Chicago. “A large part of the population saw relatively stagnant incomes over the 1980s and 1990s. Credit was so welcome because it kept people who were falling behind reasonably happy. You were keeping up, even if your income wasn’t.”
[H] Incomes, of course, are even more stagnant now that unemployment is at 9 percent. And that pain isn,t being shared equally: inequality has actually risen since before the recession, as joblessness is proving sticky among the poor, but recovery has been swift for the rich. Household borrowing is still more than 90 percent of GDP, and the conditions that drove it up there are, if anything, worse.
3. The “Shadow Banking” Market
[I] The financial crisis started out similarly severe, but it wasn’t, at first, a crisis of consumers. It was a crisis of banks. It never became a crisis of consumers because consumer deposits are insured. But large investors— pension funds, banks, corporations, and others—aren’t insured. But when they hear that their collateral (F付属担 保品)is dropping in value, they demand their money back. And when everyone does that at once, it’s like an old-fashioned bank run: The banks can,t pay everyone off at once, so they unload all their assets to get capital, the assets become worthless because everyone is trying to unload them, and the banks collapse.
[J] “This is an inherent problem of privately created money,” says Gary Gorton, an economist at Princeton University, “It is vulnerable to these kinds of runs.” This year, we’re bringing this shadow banking system under the control of regulators and giving them all sorts of information on it and power over it, but we’re not doing anything like deposit insurance, where we simply make the deposits safe so runs become an anachronism.
4. Rich Banks
[K] In the 1980s, the financial sector’s share of total corporate profits ranged from about 10 to 20 percent. By 2004, it was about 35 percent. Simon Johnson, an economist at MIT, recalls a conversation he had with a fund manager. “The guy said to me, ‘ Simon, it’s so little money! You can sway senators for $10 million!? ’ ” Johnson laughs ruefully (后,悔地).“These guys [big investors ] don%t even think in millions. They think in billions.”
[L ] What you get for that money is favors. The last financial crisis fades from memory and the public begins to focus on other things. Then the finance guys begin nudging (游说).They hold some fundraisers for politicians, make some friends, explain how the regulations they’re under are onerous and unfair. And slowly, surely, those regulations come undone. This financial crisis will stick in our minds for a while, but not forever. And after briefly dropping to less than 15 percent of corporate profits, the financial sector has rebounded to more than 30 percent. They’ll have plenty of money with which to help their friends forget this whole nasty affair.
5. Lax (不严格的)Regulators
[M] The most troubling prospect is the chance that this bill, if we’d passed it in 2000, wouldn’t even have prevented this financial crisis. That’s not to undersell it: It would’ve given regulators more information with which to predict the crisis. But they had enough information, and they ignored it. They get caught up in boom times just like everyone else. A bubble, almost by definition, affects the regulators with the power to pop it.
[N] In 2005, with housing prices running far, far ahead of the historical trend, Bernanke said a housing bubble was “ a pretty unlikely possibility ”. In 2007, he said Fed officials “ do not expect significant spillovers from the subprime market to the rest of the economy.” Alan Greenspan, looking back at the financial crisis, admitted in April that regulators “have had a woeful record of chronic failure. History tells us they cannot identify the timing of a crisis, or anticipate exactly where it will be located or how large the losses and spillovers will be.”
46. In the 1980s and 1990s people experienced no substantial increase in terms of income, which brought about the popularity of credit.
47. Financial crisis is a crisis of banks in that shadow banking may cause banks to fail.
48. The finance guys make friends with politicians in the hope of making some burdensome and unfair regulations cancelled.
49. The legislation concerning financial reform offers regulators the power of supervising shadow banks and disintegrating companies on the verge of bankruptcy.
50. In terms of the effect of unemployment, it is more deeply felt by the poor than by the rich.
51. Even if there was enough information to predict there would be financial crisis, the regulators still chose to ignore it.
52. Emerging economies with insufficient investment opportunities have invested much money in developed countries.
53. Regulators with power tended to fail again and again concerning forecasting a financial crisis.
54. A fund manager or large investor is considered absurdly rich by an economist from MIT.
55. Large investors, deposits can be made safer if shadow banking system is under the control of regulators.
Part Ⅳ Translation (30 minutes)(原单句汉译英调整为段落汉译英。翻译内容涉及中国的历史、文化、经济、社会发展等。四级长度为140-160个汉字;六级长度为180-200个汉字。)
Directions: For this part, you are allowed 30 minutes to translate a passage from Chinese into English. You should write your answer on Answer Sheet 2.
要了解中国文化,就应该对中国的戏曲文化有所了解。中国地方戏种类很多,其中京剧是一个具有代表 性的剧种。作为一个独立的剧种,京剧的诞生大约是在1840年至I860年。京剧是在吸收其他地方戏营养的基础 上形成的。京剧有明确的角色分工;在念白上用北京方言;在音乐上以胡琴为主要伴奏乐器。由于京剧是在融 合各种地方戏之精华的基础上形成的,所以它不仅为北京的观众所钟爱,也受到全国人民的喜爱。
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