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Turning Grey

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邱傑先生的網頁裡又讀到一篇感動的文章_偷拍, 請點web: http://mypaper.pchome.com.tw/fromjack22/post/1321529908而照片又往往是無聲勝有聲。

 

我們往往想著讓下一代的生活過得比我們好、受更好的教育,就如同我們承接自上一代的照護一樣的,可再回頭看看已斑駁的上一代時,是不是比較能體諒她剪破妳的衣物、放漂白水在妳的飲用水裡、打破妳的碗盤或摔壞妳的飾品、換走妳的金錢與食物給她娘家的下一代、或時不時大哭說妳不替她換紙尿布…….

 

終於, 我翻到了印象裡的這一個篇章;

Photo and article download via web: http://www.economist.com date: Sep 19th 2006

 

Turning grey

 

Sep 19th 2006

From The Economist Global Agenda

 

The IMF and World Bank are getting on. They are struggling to find new roles at a time of global economic stability.



Turning_grey.jpg

RAYMOND MIKESELL, a professor of economics at the University of Oregon, died on Thursday September 14th at the age of 93. Mr Mikesell's old age brought with it a noteworthy achievement. He was thought to be the last surviving economist present at the conference in 1944 at Bretton Woods, New Hampshire, which saw the establishment of the post-war economic regime and with it the birth of the International Monetary Fund (IMF) and the World Bank. As the annual autumn meeting of the two institutions gets underway in Singapore, Mr Mikesell's death is a reminder to the ageing figures of international finance that they may also have a natural lifespan.

 

The organisations were born into a world torn apart by war. The economists meeting at Bretton Woods also had sharp memories of the international financial crisis of the 1930s, when mercantilist policies and the failure of the international-payments system devastated world trade. They hoped to avert future crises by setting up multilateral institutions to act as a stabilising influence during the post-war reconstruction. The bank's first job was rebuilding Europe; the IMF oversaw the fixed exchange-rate system established at Bretton Woods. Later on the pair sought new roles as the stewards of global economic development and financial stability.

 

Now the IMF and World Bank have fewer jobs to do. Markets work better, as do other financial institutions. Helped by improved economic theory, the world has grown richer and more stable. As for helping the poorest, a multilateral model of giving poor countries money and advice for running their economies is under fire from both left and right. Conservatives argue that such interventions cause more problems than they solve. The left complains that developing nations get too little money and not enough control over how it is spent. Both sides fear that the institutions' structures are outdated, hinting, increasingly loudly, that retirement is due.

 

At this week's meetings, the old couple will fiercely insist that they still have work to do. The IMF's latest World Economic Outlook predicts that the global economy remains in good shape, although the risks are "increasingly tilted to the downside." Chief among these are resurgent inflation, supply-side commodity shocks (especially in the oil market) and persistent global imbalances, particularly in America, where the current-account deficit continues to soar—figures released on September 18th showed that the deficit had widened unexpectedly fast in the second quarter to $218 billion.

 

Those imbalances have pushed Asian exchange rates to the top of the agenda. Europe and America both want Asian countries to stop stockpiling dollars in order to keep their currencies (and exports) cheap, a practice that is fuelling America's unsustainable spending spree. In theory, this sort of currency-related imbalance should be the sort of intervention the IMF is good at.

 

The power struggle between rich and rising economies is pushing into the area of governance. The IMF has won approval for the first stage of an overhaul of its voting structure that gives a slightly bigger voice to China and other emerging markets. But many poorer countries want substantially more say. Tinkering with the voting rights of various countries will make it no easier to resolve deep-seated disputes. The IMF has promised a more fundamental overhaul by 2008. Nor is it clear what might replace the once widely-supported "Washington consensus", which has guided interventions over the past decade but is falling out of favour.

 

Nor will reform shield the World Bank. Its leader, Paul Wolfowitz, seems to want to undertake a similar overhaul of his institution. But questions remain over the efficacy of its aid. And worries persist about the weakening market for the banks loans to creditworthy middle-income countries, which help to finance development. Both institutions are in dire need of a cure for creaky old age.




 

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旅人
您的英文粉棒耶

晚安安
2010-10-15 21:15:34
版主回應
淨是些...讓先進們笑話了, 承蒙不嫌棄倒是呢!
碰到極限函數/Sigma/Delta之類的, 太難, 讀文反而顯得容易, 何況有些是貼文來的咧~~
2010-10-18 13:13:55
旅人
時間,從你,我,他輾過

留置失眠的額紋

@晚安安
2010-10-31 23:17:02
是 (若未登入"個人新聞台帳號"則看不到回覆唷!)
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