《国际经贸高级英语》.doc

Unit 8 日本的金融系统改革似乎进行得十分迅速。刚刚过去的一个星期中，日本庞大却陷入困境的金融公司中没有再传出兼并的消息。而撤消管制是其原因所在。三年前，政府宣布对本国的金融服务业动一次“大手术”。这是要推翻从很大程度上阻碍保险公司、银行和股票经纪人互相竞争的“防火墙”，也是为了结束武断的、令人窒息的、并且常常是腐败的监管。 以这种方式来撤消管制主要是因为，日本那苏联式的、内部关系过于亲密的金融系统在整个经济中的信用配置方面糟糕透顶、无可救药。在20世纪90年代大多数时期困扰着该国银行的大规模坏账问题，仅仅是一种症状，预示着一种更为严重的疾病。即使是这样，当时人们仍然普遍怀疑政府是否会坚持进行治疗。因此，日本政府是值得称道的，因为它从很大程度上坚持实施了它的改革计划。 My answer: Japan’s financial system seems to be reforming very fast. Barely a week goes by, there is not news of another merger between Japan’s huge but troubled financial firms. Deregulation is the cause.Three years ago,the government announced a “Big Bang”for the country’s financial-services industry. This would tear down firewalls that had largely prevented insurance companies, banks and stockbrokers from competing with each other’s patches,it was also meant to put an end to arbitrary, stifling and often corrupt supervision. The main reason for deregulation in this way was that Japan’s incestuous, Soviet-style financial system was hopelessly bad at allocating credit around the economy. The massive bad-loan problems that have plagued the country抯 banks for most of the 1990s are merely one symptom which predicts an even bigger ill. Eveny so, there was widespread scepticism that the government would go through with the cure. Therefore,Japanese government deserves some credit, for largely sticking to carry out its reformtory plans. Standard answers: How fast Japan抯 financial system seems to be reforming! Barely a week goes by without news of another merger between Japan抯 huge nybut troubled financial firms. Deregulation is the spur. Three years ago the government announced a 揃ig Bang?for the country抯 financial-services industry. This would tear down firewalls that had largely stopped insurance companies, banks and stockbrokers from competing in each other抯 patches. It was also meant to put an end to arbitrary, stifling and often corrupt supervision. The biggest reason for deregulation i