24考研题源外刊阅读《经济学人》双语精读版训练--各国央行为何都...--考研网上

But it’s been really difficult for researchers to home in on the difference between these two groups, because so many people have been infected by now.

但研究人员很难弄清楚这两组之间的区别，因为现在有太多人被感染了。

1. home in on: to aim exactly at an object or place and move directly to it

《本期内容》

双语阅读

In 1968 the London Bullion Market closed for two weeks. The world's largest precious-metal market had run out of gold, drained by a five-month run on America's stash by European central banks. The crisis marked the beginning of the end for the Bretton Woods standard that had kept the dollarpegged togold, and currencies elsewhere to the dollar, since 1944.

伦敦黄金市场在1968年曾休市两周。当时这个全球最大的贵金属市场的黄金储备消耗殆尽，原因是欧洲各国央行对美国黄金储备持续五个月的挤兑。这场危机标志着布雷顿森林体系开始走向终结。自1944年以来，布雷顿森林体系一直将美元与黄金挂钩，而其他国家的货币与美元挂钩。

Now central banks are

furiously buying gold again. In the third quarter alone 400 tonnes moved into their reserves. That has pushed the total from January to September to 670 tonnes, a pace unseen since the Bullion Marketdebacle. In May Turkeysnapped upalmost 20 tonnes in one go. India and Qatar are alsoravenous. The metal now makes up two-thirds of Uzbekistan’s reserves, months after it planned to reduce gold to under half. Kazakhstan is also doubling

down.

现在各国央行又开始疯狂购买黄金。仅第三季度就有400吨黄金被收入各家央行的储备。这将今年1月至9月的购买总量推高至670吨，是自伦敦黄金市场崩盘以来从未有过的速度。5月，土耳其一口气抢购了近20吨黄金。印度和卡塔尔也如饥似渴。乌兹别克斯坦原本计划将黄金在储备中的比例减少到一半以下，但几个月后的现在，黄金已占到该国储备的三分之二。哈萨克斯坦也在加码购买黄金。

In part this is because gold,snubbedin good times because it generates no yield, recovers its shine in times of volatility and high inflation. In the long run, it is seen as a store of value and, not tied to any individual economy, seems immune to local political and financial turmoil. Central bankers may also think they are getting a bargain. Even though it has resisted better than most, the price of the metal has dropped 3% this year. Gold bugs expect a rebound.

翻译划线句，长按文末小程序码打卡，答案下期公布~长期来看，它被看作是一种价值储存手段，与任何单个经济体都没有联系，似乎不受当地政治和金融动荡的影响。央行行长们可能也认为他们捡到了便宜。尽管它的抵抗能力比大多数资产都要强，但今年的金价已经下跌了3%。黄金投资者期待反弹。

Like in the past, however, buying gold bars is also a way to ditch some dollars. Except this time it is not Europe but emerging markets whogrumbleabout the greenback. They need dollars to pay for imports and external debts. But their reserves are mostly made of treasuries, not actual banknotes. And as the Federal Reserve has raised interest rates, buoying yields, the value of government paper has dropped. Lesser central banks have taken this as a cue to swap them for precious metal rather than bet on the Fed taming inflation.

然而，和过去一样，购买金条也是抛售一些美元的一种方式。不过这一次，抱怨美钞的不是欧洲，而是新兴市场。他们需要美元来支付进口和外债。但他们的储备主要是国债，而不是真正的钞票。随着美联储提高利率、提振收益率，政府债券的价值已经下降。规模较小的央行已将此视为一个信号，转而买入贵金属，而不是押注美联储将抑制通胀。

Shadier motives are also at play. Gold provides a way tocircumventWestern sanctions on Russia, much of whose reserves have been frozen since March and whose banks have mostly been disconnected from the dollar-based international-payments system. Almost no central banks keep roubles as foreign-currency reserves.

其中也有一些不为人知的动机暗中发挥作用。黄金给规避西方对俄罗斯的制裁提供了一条路径。俄罗斯的大部分外汇储备自3月份以来一直被冻结，而且俄罗斯的银行大多与以美元为基础的国际支付体系脱节。几乎没有哪家央行将卢布作为外汇储备。

本文节选自：The Economist（经济学人）

发布时间：2022.12.1

词汇积累

1. debacle

/de??bɑ?k?l/

n.崩溃；灾害；解冻

2. ravenous

/?r?v?n?s/

adj.贪婪的；渴望的；狼吞虎咽的

3. snub

/sn?b/

v.冷落；斥责；抵制；（使）（马、船等）停住；掐灭（香烟等）

n.冷落；止住

4. grumble

/?ɡr?mb?l/

v. 抱怨，嘟囔; 咕隆，发轰隆声; (内脏)间歇性地闹病

n. 抱怨，牢骚; 咕隆声

5. circumvent

/?s??k?m?v?nt/

v. 规避，回避; (为避免某物而)改道，绕过; 克服(问题，困难)(尤指暗中智取)

词组搭配

1.pegged to 与…挂钩

2.snap up 抢购，匆匆吃下，抢先弄到手

写作句总结

Shadier motives are also at play.

结构：…，shadier motives are also at play.

…，一些不为人知的动机也在暗中发挥作用

例句：In addition to some ambiguous operations，shadier motives are also at play.

打卡作业

在草稿纸上翻译文章中的划线句，完成每日的打卡练习！下期推送会公布参考翻译答案，大家一起来学习英语吧~

外刊君为同学们汇总了《经济学人》，戳码回复“J88”，下载pdf源文件。

（戳码回复“J88”）

点击领取1998-2021经济人学杂志PDF，附双语版+词汇

未经允许不得转载：考研网上 - 考研网上辅导班有用吗 > 24考研题源外刊阅读《经济学人》双语精读版训练--各国央行为何都...