International trade： Changing places

The pandemic will not end globalisation, but it will reshape it

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FOR A TIME economic contagion seemed more threatening than the pathological kind. Though the spread of covid-19 was mainly in China, the damage was appearing along supply chains that produce the world’s goods, notably cars and consumer electronics. China is the world’s second-biggest exporter of parts, so as its factories shut down, manufacturers everywhere faced delays. Even before the virus took off in South Korea, Hyundai had halted production because of a shortage of imported parts. The World Economic Forum (whose annual bash in Davos epitomises globalisation) advised companies to bring production closer to customers.

contagion  n./kənˈteɪdʒən/  1.接触传染 •There is no risk of contagion. 没有接触传染的风险。2. 接触性传染病 3.[ C ] ( formal )（不良事物的快速）传播，蔓延，扩散

Pathological adj. /ˌpæθəˈlɒdʒɪkl/  1. 不理智的；无道理的；无法控制的 •pathological fear/hatred/violence 无理由的恐惧╱憎恨╱暴行 •a pathological liar 说谎成性者 2.病态的；与疾病有关的 •pathological depression 病态的抑郁  3. 病理学的；与病理学相关的

halt /hɔːlt/  /hɒlt/  V（使）停止，停下 •She walked towards him and then halted. 她向他走去，然后停下。 •The police were halting traffic on the parade route. 警察正阻止车辆在游行路线上行驶。N 1.停止；阻止；暂停 •Work came to a halt when the machine broke down. 机器一坏，工作便停了下来。2.( BrE ) 小火车站（只有站台）

epitomize  v. /ɪˈpɪtəmaɪz/  ( Bre also -ise) [ VN ] 成为…的典范（或典型）• The fighting qualities of the team are epitomized by the captain. 这个队的战斗精神从队长身上体现出来。

bash /bæʃ/  

1.~ (into sb/sth)  猛击；猛撞 •He bashed her over the head with a hammer. 他用锤子猛击她的头部。  

2. 严厉批评 •Bashing politicians is normal practice in the press. 严厉批判政治人物乃是新闻界常事。

PHRASAL VERBS 短语动词

1.ˌbash aˈway (on/at sth)ˌbash ˈon (with sth) 持续努力；持之以恒 •He sat bashing away at his essay all day. 他一整天都坐着不停地写文章。

2.ˌbash sth←→ˈdown/ˈin不断猛击使之毁坏 •The police bashed the door down. 警察用强力把门撞倒了。

3.bash sth←→ˈout大量粗制滥造 •She bashed out about four books a year. 她一年大概炮制出四本书。

4.bash sb ˈup ( BrE ) 猛击某人

名词：1.猛击；重击 •He gave Mike a bash on the nose. 他照着迈克的鼻子狠狠地给了一下。 2.盛大的聚会；盛典 •a birthday bash 生日庆典

IDIOMS 习语

1. have a bash (at sth) ( BrE informal )  尝试做（没有把握的事）

As the pandemic spread, location ceased to matter much. There was no escaping the disease: the world economy saw its deepest, most synchronised collapse on record. Some of the least globalised economic activities—restaurants, cinemas, fitness classes and other services—suffered most. More than goods, people stopped crossing borders; Davos 2021 was postponed. However, the supply-chain panic has left a lasting impression. For business, it is further evidence of the risks of distant disruption. For governments it offers more reasons to turn inward. The result is to accelerate changes to globalisation that were already in train.

cease  v. /siːs/  （使）停止，终止，结束 • Welfare payments cease as soon as an individual starts a job. 一旦就业，即停发福利救济。

Global supply chains were forged in the period from the mid-198os until the financial crisis 25 years later. Trade surged in volume and changed in nature. It grew nearly twice as fast as global output, as emerging markets in Asia were bedded in to the world economy. After China joined the World Trade Organisation in 2001, its share of world exports of many parts and capital goods grew from under io% to over 30%.Countries often specialised not in specific goods, but in bits of them. Taiwan, South Korea and Japan made semiconductors for the consumer-electronics industry. China supplied parts to German carmakers. The rise of computing made such complexity manageable. Globalisation brought cheaper goods to the rich world and, thanks to what Ben Bernanke, then Fed chairman, called a global saving glut, low interest rates. It also displaced many workers. Perhaps a million Americans lost their jobs to Chinese competition.

forge /fɔːdʒ/ 

 1.[ VN ]  艰苦干成；努力加强 •a move to forge new links between management and workers 努力建立劳资新关系的措施

 2. [ VN ] 伪造；假冒•to forge a passport/banknote/cheque 伪造护照╱钞票╱支票 

3.[ VN ]锻造；制作 •swords forged from steel 用钢锻造的刀剑

 4.[ V + adv./prep. ]稳步前进 •He forged through the crowds to the front of the stage. 他挤过人群稳步走到台前。

5.ˌforge aˈhead (with sth) 迅速向前；进步神速 •The company is forging ahead with its plans for expansion. 公司的拓展计划正顺利进行。

glut  /ɡlʌt/  ~ (of sth)  供应过剩；供过于求 •a glut of cheap videos on the market 市场上供过于求的廉价录像

The 2010S slammed on the brakes. Trade stagnated as a share of GDP; foreign direct investment fell. As China’s middle class grew, it consumed domestically more of what it produced. Its share of world exports stopped rising in 2015, but its share of world imports continued to grow.As manufacturing became more automated, savings from locating production where workers were cheapest shrank. The rise of social media made consumer fads more volatile, necessitating faster production and shipment to satisfy impatient buyers. “Just in time” delivery of parts worked better with closer suppliers. And disasters highlighted the risk of a specialised economy. The tsunami that hit Japan in 2011 cut Toyota’s production in America by nearly a third because of a shortage of parts, while flooding in Thailand inundated factories producing a quarter of the world’s hard drives. Firms began to see long supply chains as unwieldy and risky. Trade started to concentrate in regional blocks. Globalisation became slowbalisation.

Slam v. 砰地关上；用力一放（或摔、推）；（非正式）碰撞，猛击；突然采取行动；闯，冲；（非正式）猛烈抨击；轻松得分或战胜；未经允许接管账单 n. 猛关（或摔、放、推等）；砰的一声；诗歌朗诵比赛；（桥牌）满贯

on the brakes：紧急刹车

stagnate  v. /stæɡˈneɪt/  1. 停滞；不发展；不进步 •Profits have stagnated. 利润原地踏步。2.因不流动而变得污浊 •The water in the pond was stagnating. 池塘里的水逐渐变成了死水。

Fad： 一时的风尚；短暂的狂热• the latest/current fad 最新╱当前的时尚• a fad for physical fitness 一阵健身狂热

inundate v.   /ˈɪnʌndeɪt/  1.~ sb (with sth)  使不胜负荷；使应接不暇 •We have been inundated with offers of help. 主动援助多得使我们应接不暇。2. 淹没；泛滥 

unwieldy   /ʌnˈwiːldi/  1.(东西)  笨重的；笨拙的；不灵巧的2.(体制或团体)  难控制（或操纵、管理）的；运转不灵的；尾大不掉的

译文

FOR A TIME economic contagion seemed more threatening than the pathological kind. Though the spread of covid-19 was mainly in China, the damage was appearing along supply chains that produce the world’s goods, notably cars and consumer electronics. China is the world’s second-biggest exporter of parts, so as its factories shut down, manufacturers everywhere faced delays. Even before the virus took off in South Korea, Hyundai had halted production because of a shortage of imported parts. The World Economic Forum (whose annual bash in Davos epitomises globalisation) advised companies to bring production closer to customers.

在很长一段时间，经济类的传染病似乎比生物学上的传染病更危险。虽然新冠疫情最初集中在中国传播，但全球货物供应链都受此危害，特别是车辆与电子消费品。中国是世界第二大的零部件出口商，当它的工厂停工，世界各地制造商都面临延迟。甚至在韩国疫情爆发前，现代因为缺乏进口零部件而停工。全球化的典型代表--世界经济论坛（达沃斯经济论坛）（每年都在达沃斯举办）建议公司将生产线建设离客户更近。

As the pandemic spread, location ceased to matter much. There was no escaping the disease: the world economy saw its deepest, most synchronised collapse on record. Some of the least globalised economic activities—restaurants, cinemas, fitness classes and other services—suffered most. More than goods, people stopped crossing borders; Davos 2021 was postponed. However, the supply-chain panic has left a lasting impression. For business, it is further evidence of the risks of distant disruption. For governments it offers more reasons to turn inward. The result is to accelerate changes to globalisation that were already in train.

随着疫情扩散，地理位置不重要了。人们已经无处可逃：世界经济见证了它最深刻、最同步的崩溃。一些非全球化经济参与者--餐馆、影院、健身及其他服务深受其害。不仅仅是产品，人类也停止跨境流动；达沃斯论坛2021也延期举办。然而，供应链恐慌带来了持续的效果。对于商业来说，这是远距离供应中断的明证。对政府来说，这是国家向内转型的理由之一。它将加速已经开出的全球化列车转弯。

Global supply chains were forged in the period from the mid-198os until the financial crisis 25 years later. Trade surged in volume and changed in nature. It grew nearly twice as fast as global output, as emerging markets in Asia were bedded in to the world economy. After China joined the World Trade Organisation in 2001, its share of world exports of many parts and capital goods grew from under io% to over 30%.Countries often specialised not in specific goods, but in bits of them. Taiwan, South Korea and Japan made semiconductors for the consumer-electronics industry. China supplied parts to German carmakers. The rise of computing made such complexity manageable. Globalisation brought cheaper goods to the rich world and, thanks to what Ben Bernanke, then Fed chairman, called a global saving glut, low interest rates. It also displaced many workers. Perhaps a million Americans lost their jobs to Chinese competition.

全球化供应链开始于80年代中期，于25年后的经济危机形成。贸易量疯狂增加带来了质变。它几乎是全球产出的两倍，因为亚洲新兴市场投入世界经济的温床。2001年中国加入WTO之后，其生产的零部件或生产资料占世界的出口量迅速从不到10%增至30%以上。国家变得不是专门生产某一种产品，而是其中的零部件。中国台湾、韩国、日本为电子产品生产半导体。中国为德国汽车制造商生产零部件。计算机的兴起为这样复杂的供应管理成为可能。全球化为富裕的世界带来更便宜的产品，此外，由于当时美联储主席本·伯南克宣扬的全球储蓄过剩，还带来了低储蓄率。全球化也带来了工人的失业。也许数以百万的美国工人在与中国的竞争中失业。

The 2010S slammed on the brakes. Trade stagnated as a share of GDP; foreign direct investment fell. As China’s middle class grew, it consumed domestically more of what it produced. Its share of world exports stopped rising in 2015, but its share of world imports continued to grow.As manufacturing became more automated, savings from locating production where workers were cheapest shrank. The rise of social media made consumer fads more volatile, necessitating faster production and shipment to satisfy impatient buyers. “Just in time” delivery of parts worked better with closer suppliers. And disasters highlighted the risk of a specialised economy. The tsunami that hit Japan in 2011 cut Toyota’s production in America by nearly a third because of a shortage of parts, while flooding in Thailand inundated factories producing a quarter of the world’s hard drives. Firms began to see long supply chains as unwieldy and risky. Trade started to concentrate in regional blocks. Globalisation became slowbalisation.

本世纪10-19年 ，这一切戛然而止。贸易占GDP份额停滞不前，外国直接投资下跌。中国中产阶级增加，消费比本土生产更多的产品。中国占世界出口份额自2015年原地踏步，但它占世界的进口量份额持续增加。随着制造业自动化发展，将生产设在劳动力便宜的地方所带来的的成本降低也在缩减。社交媒体的兴起让消费者消费变得即兴和反复，迫使企业加快生产和出货来满足没有耐心的消费者。零部件“准时化”运输在临近的供应商内运作效果不错。但自然灾害凸显了细分化经济的风险。2011日本大海啸导致美国丰田公司由于缺乏零部件几乎减产三分之一；泰国洪灾淹没工厂占世界硬盘驱动器份额的四分之一。企业开始将过长的供应链视笨拙而危险。贸易开始集中在区域内。全球化变成了“慢球化”。

经济学人11月刊