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Unit 4 Background Information ——《21世纪研究生英语教材阅读教程》下册  

2012-04-28 11:25:42|  分类: Unit4《21世纪研 |  标签: |举报 |字号 订阅

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agflation

agflation = agricultural + inflation

a term describing generalised inflation led by rises in agricultural commodity prices.

 

inflation

In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services. Consequently, it also reflects an erosion in the purchasing power of money.

A chief measure of price inflation is the inflation rate, the annualized percentage change in a general Consumer Price Index over time.

A long sustained period of inflation is caused by money supply growing faster than the rate of economic growth.


stagflation

In economics, stagflation is a situation in which the inflation rate is high and the economic growth rate slows down and unemployment remains steadily high.

 

Swaziland

a landlocked monarchy in southeastern Africa; member of the commonwealth that achieved independence from the UK in 1968.

 

Biofuel

Biofuel is a gas, liquid, or solid from natural sources such as plants that is used as a fuel. In 2010 worldwide biofuel production reached 105 billion liters, up 17% from 2009, and biofuels provided 2.7% of the world’s fuels for road transport, a contribution largely made up of ethanol and biodiesel.

According to the International Energy Agency, biofuels have the potential to meet more than a quarter of world demand for transportation fuels by 2050.

 

Bioethanol

Bioethanol is an alcohol made by fermentation, mostly from carbohydrates produced in sugar or starch crops such as corn or sugarcane. Cellulosic biomass, derived from non-food sources such as trees and grasses, is also being developed as a feedstock for ethanol production.

 

Ethanol can be used as a fuel for vehicles in its pure form, but it is usually used as a gasoline additive.

Global ethanol fuel production reached 86 billion liters in 2010, with the United States and Brazil as the world's top producers, accounting together for 90% of global production.

 

Biodiesel

Biodiesel is made from vegetable oils and animal fats. Biodiesel can be used as a fuel for vehicles in its pure form, but it is usually used as a diesel additive. It is the most common biofuel in Europe.

The world's largest biodiesel producer is the European Union, accounting for 53% of all biodiesel production in 2010.


Chicago Board of Trade

The Chicago Board of Trade (CBOT), established in 1848, is the world's oldest futures and options exchange. More than 50 different options and futures contracts are traded by over 3,600 CBOT members through open outcry and eTrading.

On 12 July 2007, the CBOT merged with the CME to form the CME Group. CBOT and three other exchanges (CME, NYMEX, and COMEX) now operate as designated contract markets of the CME Group.

 

CBOT, Chicago Board of Trade 芝加哥交易所

CME Group芝加哥商业交易所集团

CME, Chicago Mercantile Exchange芝加哥商业交易所

NYMEX, New York Mercantile Exchange 美国纽约商业交易所

COMEX, Commodity Exchange, New York 纽约商品交易所


cash crops
A cash crop is an agricultural crop which is grown for sale for profit. The term is used to differentiate marketed crops from subsistence crops, which are those fed to the producer's own livestock or grown as food for the producer's family.

In many tropical and subtropical areas, jute, coffee, cocoa, sugar cane, bananas, oranges and cotton are common cash crops. In cooler areas, grain crops, oil-yielding crops and some vegetables and herbs are predominate.

Cash crops are crops that are made or harvested with the intention of making money. Coca, poppies and cannabis are other popular black-market cash crops. In the United States cannabis is considered by some to be the most valuable cash crop.


soft commodity

A soft commodity is a commodity such as coffee, cocoa, sugar, corn, wheat, soybean, cotten and fruit.

This term generally refers to commodities that are grown, rather than mined.

Sometimes the term soft is restricted to commodities which are identified as primarily tropical.

 

producer prices

Producer price index (PPI): An index showing the monthly change in producer prices. An indicator of inflation closely watched in the US.

 

Federal Reserve

The Federal Reserve System (also known as the Federal Reserve) is the central banking system of the United States.

It was created on December 23, 1913 with the enactment of the Federal Reserve Act. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved. Events such as the Great Depression were major factors leading to changes in the system.

 

West Country

The West Country is an informal term for the area of the modern South West England government region.

 

The European Union (EU)

The EU is an economic and political union of 27 member states which are located primarily in Europe. It traces its origins from the European Coal and Steel Community (ECSC) and the European Economic Community (EEC), formed by 6 countries in 1958.

The Maastricht Treaty established the European Union under its current name in 1993. The latest amendment to the constitutional basis of the EU, the Treaty of Lisbon, came into force in 2009.

 

East Anglia

East Anglia is a traditional name for a region of eastern England, named after an ancient Anglo-Saxon kingdom, the Kingdom of the East Angles.

 

The World Trade Organization (WTO)

The WTO is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948.

The organization is attempting to complete negotiations on the Doha Development Agenda, or Doha Round, which was launched in 2001 with an explicit focus on addressing the needs of developing countries. But  the future of the Doha Round remains uncertain.

marrakech, a city in western Morocco; tourist center

 

The Doha Development Round

The Doha Development Round or Doha Development Agenda is the current trade-negotiation round of the WTO which commenced in 2001. Its objective is to lower trade barriers around the world, which will help facilitate the increase of global trade. As of 2008, talks have stalled over a divide on major issues, such as agriculture, industrial tariffs and non-tariff barriers, etc.

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