由 英语数字智库 了解更多雅思：全球贸易经济类词汇目录
内容素材改编自国际权威周刊《经济学人》
刊物介绍
英文：The Economist was founded in 1843.
It is a well-known British weekly focusing on politics and finance.
Its articles feature rigorous logic
and abundant professional financial vocabulary.
It is a major source of reading materials for postgraduate English exams
and ideal for learners to accumulate authentic business English.
中文：《经济学人》创刊于1843年，是英国知名政经周刊。
文章逻辑缜密，包含大量专业财经词汇。
是考研英语阅读高频题源，
适合学习者积累地道商务英语。
主题2：全球通胀下行难度分析
一、英文改编语段
Given how woefully stock and bond portfolios have performed over the past year or so,
you may not have noticed that financial markets are floating high on optimism.
Yet there is no other way to describe today’s investors.
Since autumn, they have increasingly bet on inflation,
the biggest trouble for the global economy,
would fade away without severe market turbulence.
Many investors believe interest rates will be cut before year-end.
These rate cuts will support major global economies,
especially the United States, to avoid recession.
Investors price stocks based on the Goldilocks economy.
In this scenario, corporate profits rise steadily,
while capital costs keep declining.
Markets often overlook the persistence of modern inflation.
Wage growth stays strong across most developed economies.
Prices in the service sector remain stubbornly high.
Even if energy prices cool down,
sustained consumer demand will keep pushing prices upward.
Central banks cannot slash interest rates rapidly.
Doing so will reignite inflationary pressure,
trapping policymakers between slow growth and rising prices.
Many households built up large savings buffers in previous years.
These reserves sustain consumption amid climbing living expenses.
Enterprises refuse to cut staff salaries.
They fear losing skilled professional workers.
This creates a wage-price spiral hard to reverse in the short term.
Global supply chain blockages have eased partially.
Geopolitical conflicts still disrupt stable raw material supplies.
All these factors slow inflation’s decline,
far below the expectations held by financial markets.
二、完整中文译文
过去一年，股票与债券投资组合收益惨淡，
你或许没有留意，金融市场充斥着浓厚的乐观情绪。
当下投资者的心态只能用乐观二字概括。
入秋以来，越来越多人押注通胀，
这一全球经济最大难题，
会平稳消退，不会引发剧烈市场震荡。
多数投资者认为年底前央行会下调利率。
降息举措将为全球主要经济体托底，
尤其是美国，帮助其避开经济衰退。
投资者以“金发女孩经济”为基准给股票定价。
在这种理想环境下，企业利润稳步增长，
同时融资成本持续走低。
市场往往低估现代通胀自带的粘性。
绝大多数发达国家薪资涨幅居高不下。
服务业各类价格顽固维持高位。
即便能源价格有所回落，
持续旺盛的消费需求仍会推高整体物价。
各国央行无法快速大幅降息。
贸然降息会再度催生通胀压力，
让政策制定者陷入经济疲软、物价上涨的两难。
前些年不少家庭积攒了充足的储蓄缓冲金。
这笔存款支撑民众持续消费，哪怕生活成本不断上涨。
企业不愿削减员工薪资。
企业担心流失熟练专业人才。
由此形成短期难以扭转的薪资物价螺旋上涨现象。
全球供应链堵塞问题虽得到部分缓解，
地缘冲突依旧干扰原材料稳定供给。
多重因素叠加放缓通胀回落速度，
远远达不到金融市场的预期。
三、核心财经词汇深度解析
1. portfolio
/pɔːtˈfəʊliəʊ/
n. 投资组合
适用场景：
金融高频词汇，指代个人或机构持有的全部资产
2. inflation
/ɪnˈfleɪʃn/
n. 通货膨胀
3. Goldilocks economy
/ˈɡəʊldɪlɒks ɪˈkɒnəmi/
名词短语 金发女孩经济
说明：经济学专用术语，指代温和增长、
无高通胀、无衰退的理想经济环境
4. recession
/rɪˈseʃn/
n. 经济衰退
5. stickiness of inflation
/ˈstɪkinəs ɒv ɪnˈfleɪʃn/
名词短语 通胀粘性
6. robust wage growth
/rəʊˈbʌst weɪdʒ ɡrəʊθ/
名词短语 薪资强劲上涨
7. central bank
/ˈsentrəl bæŋk/
名词短语 中央银行
8. savings buffer
/ˈseɪvɪŋz ˈbʌfə(r)/
名词短语 储蓄缓冲金
9. wage-price spiral
/weɪdʒ praɪs ˈspaɪrəl/
名词短语 薪资物价螺旋上涨
10. supply chain bottlenecks
/səˈplaɪ tʃeɪn ˈbɒtlnekz/
名词短语 供应链瓶颈
四、长难句拆解
1. 原句：
Given how woefully stock
and bond portfolios have performed over the past year or so,
you may not have noticed that financial
markets are floating high on optimism.
句子主干：
you may not have noticed that financial markets are full of optimism
句式结构：
Given引导原因状语从句，交代资产收益低迷的背景
译文：过去一年，股票与债券投资组合收益惨淡，
你或许没有留意，金融市场充斥着浓厚的乐观情绪。
2. 原句：
Central banks cannot slash interest
rates rapidly without reviving fresh inflation pressure,
leaving policymakers trapped between weak growth and rising prices.
句子主干：
Central banks cannot cut interest rates quickly
修饰成分：
without作条件限制；leaving引导结果状语
译文：各国央行无法快速大幅降息。
贸然降息会再度催生通胀压力，
让政策制定者陷入经济疲软、物价上涨的两难。
3. 原句：
Enterprises refuse to cut staff salaries
for fear of losing skilled professional workers,
creating a wage-price spiral hard to reverse in the short term.
句子主干：Enterprises do not want to reduce employees’ salaries
修饰成分：for fear of 表原因；creating引导伴随状语；后置定语修饰spiral
译文：企业不愿削减员工薪资。
企业担心流失熟练专业人才，
由此形成短期难以扭转的薪资物价螺旋上涨现象。
五、同义替换写作句式
原句1：
financial markets are floating high on optimism
替换句1：
Optimism has swept across the whole financial market.
译文：乐观情绪席卷整个金融市场。
替换句2：
The entire financial sector is filled with upbeat sentiment.
译文：全金融行业都弥漫着乐观氛围。
原句2：
Markets often overlook the persistence of modern inflation
替换句1：
The market usually fails to recognize how persistent modern inflation is.
译文：市场通常忽视现代通胀具备的持续性。
替换句2：
Investors often underestimate the difficulty of curbing modern inflation.
译文：投资者往往低估抑制现代通胀的难度。
原句3：
policymakers trapped between slow growth and rising prices
替换句1：
Policy makers face a dilemma of sluggish growth and soaring prices.
译文：政策制定者面临经济疲软、物价飞涨的两难困境。
替换句2：
Regulators are caught in a conflict
between slow economic expansion and climbing prices.
译文：监管者陷入经济增长迟缓、物价持续攀升的矛盾中。
原句4：
supply chain bottlenecks have eased partially
替换句1：
Blockages in global supply chains have achieved partial relief.
译文：全球供应链堵塞问题得到一定缓解。
替换句2：
Global supply chain constraints have been alleviated to a certain degree.
译文：全球供应链的制约问题得到部分缓和。
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