Ⅱ.Text
Amid the Global Economic Crisis,China Rises
BEIJING—The auto-parts maker Delphi Corp.［1］ is headquartered in Troy,Mich.［2］,in the heart of the region which made the United States the car capital of the world.It's a place where the phrase "buy American"［3］ is right at home.
Now the 3,000 employees of Delphi's brake and suspension unit are getting a new boss.Battered by weak sales,Delphi is selling the unit to investors led by a company named Shougang Corp.［4］
Shougang is a steel maker owned by the government of China—a government that calls itself communist but espouses a "socialist market economy" as it marches down globalization's road toward a capitalistic future.
"Everyone's so desperate for cash that the Chinese show up with a checkbook and people say,'Yes,please'," says Arthur Kroeber,managing director of Dragonomics［5］,a Beijing research firm.
Explosive growth in China and India,coupled with Japan's clout as the world's No.2 economy,has long been expected to shift economic power from the United States to Asia as this century progresses.The financial crisis and resulting Great Recession［6］ are accelerating that process.
"China certainly comes out of the crisis stronger rather than weaker,and it's the opposite for the United States," says Stephen Roach,chairman of Morgan Stanley Asia［7］.
Even some Americans have begun declaring this the "Chinese century" since it began nearly a decade ago.But while they and others fear the rise of China in international relations and the global economy,the reality is less dramatic:Beijing is still getting its own sprawling,chaotic house in order and is in no position to supplant the United States as global leader in the near future.
At the same time,Beijing's power remains undefined:On an unfamiliar global stage,it is unsure what role it wants to play.
For decades,China followed the dictum of its late supreme leader,Deng Xiaoping,to keep its head down abroad and focus on development at home.But earlier this decade,emboldened by success and mindful that their globalized economy needs stability,communist leaders started pressing for a place among the nations that manage world affairs.
These days,Beijing is claiming a bigger voice in global economic forums such as the Group of 20 and is getting more deference in the United Nations,which could mean protection for friends such as Iran and Myanmar［8］.Its military spending is the world's second-highest,behind that of the United States.
"China is very likely to be the second-most-powerful country—if it isn't now,then within a decade," says Kenneth Lieberthal,director of the Brookings Institution's John L.Thornton China Center［9］ in Washington.
For the United States,it's a mixed blessing.The American and Chinese economies are intertwined,and the success of one depends on the health of the other.
The United States is China's biggest trade partner.China sent $338 billion in goods here last year.Beijing is Washington's biggest creditor,with more than $800 billion invested in government debt.American automakers look to China's growing market to propel future sales.
The financial crisis set back U.S.growth by years and will add trillions to the federal debt over the next decade.But China avoided the worst of the crisis.Its banks are healthy and,with the help of a 4 trillion yuan ($586 billion) stimulus,this year's economic growth is on track to top 8 percent.
Already,demand from China can affect oil prices,and it is starting to influence what products are available worldwide.Western jobs are tied to Chinese spending,from British auto factories to Australian iron mines.Chinese money is financing development of oil fields from Venezuela to Central Asia.
And China's role as Washington's lender-in-chief［10］ is altering the dynamic of the countries'relationship.
At a meeting in London in April,President Barack Obama assured his Chinese counterpart,Hu Jintao,that Washington would cut its budget deficit—a promise no American leader ever had to make to a Soviet［11］ leader.
Washington's three-year-old strategic dialogue with Beijing has long been dominated by U.S.trade grievances.But the latest round in July,overshadowed by America's need for China to keep buying its debt,became a discussion between equals.
China,a major destination for foreign investment,was starting to reverse the flow and invest abroad before the financial crisis.The crisis accelerated that and has led to a flurry of deals.In some cases,Chinese companies have stepped in to save Western jobs—a notion unthinkable a decade ago.
In Britain,China's Nanjing Automobile Group plans to reopen the Longbridge factory idled by the collapse of MG Rover［12］ to make limited-edition［13］ MGTF sports cars.And in Sweden,Beijing Automotive is joining a bid to buy Saab［14］ from General Motors［15］,while Geely Automobile［16］ wants to acquire Ford's Volvo［17］ unit.
"It's better to be part of the race than to watch it from the stands," says Paul Akerlund,a union representative at Saab."We see advantages in gaining access to the Chinese market,which is the fastest-growing auto market in the world."
In diplomacy,China is only starting to stake out［18］ positions on a wide array of global issues.It has used its influence in the United Nations to help allies such as Sri Lanka resist Western pressure on human rights.But Chinese leaders have yet to decide what overall political and military role they want abroad.
"They clearly want to be a country of some gravitas both regionally and globally," Lieberthal says."But there are a lot of aspects of the American approach—too ready to interfere,to tell others what to do—that the Chinese criticize as'hegemonic'."
Even as it is on track to overtake the American economy in size as early as 2030,China is burdened by enormous problems of corruption,poverty and pollution.Measured by income per person,China ranked 130th out of 210 economies in a World Bank survey last year,behind most of Latin America and parts of Africa.
"China's foreign currency reserves are huge.But that does not mean we are a rich country," says Cho Tak Wong,chairman of Fuyao Group［19］,which produces glass for Chinese and global automakers."We are about 100 years behind the United States."
China also has become a fast-growing market,and the financial crisis has only increased its importance to global companies.Chinese demand affects everything from global steel prices to the design of consumer goods.Cadillac［20］ created its 2008 CTS with China in mind,adding a deeper back seat for Chinese buyers driven by chauffeurs.［21］
Other countries'urgent need for cash has created opportunities for Beijing to make deals for resources to drive its booming economy.State companies have struck oil deals in Brazil,Venezuela,Russia and Africa and bought stakes in Australian and Canadian miners.
Delphi turned to Chinese buyers for its remaining brake and suspension operations after it sought bankruptcy court protection four years ago.The buyers are Shougang and two partners—the Beijing city government and an auto-parts maker,Tempo Group［22］.Delphi says the $90 million sale should close in November,seven months after it was announced.
Contrast that with 2005,when Chinese oil company CNOOC Ltd.tried to acquire Unocal Corp.CNOOC offered to pay more than a rival American bidder but withdrew after critics in Washington said the sale might threaten U.S.energy security.
Still,the United States has many strengths that China lacks.The U.S.remains the world center for innovation in many areas and a magnet for smart,ambitious immigrants.
"Europeans may hope that the U.S.has been knocked down a peg or two,but even if that is so,they could be in for a nasty surprise,"［23］ says Howard Wheeldon,senior strategist at BGC Partners［24］,a London brokerage."Never underestimate the ability of the American people to rise to a challenge."
By Joe McDonald
Associated Press
October 7,2009
New Words
espouse[ɪˈspauz]v.支持，拥护
clout［klaut］n.（尤指政治上的）影响
supplant[səˈpla：nt]v.把……排挤掉，取代
dictum[ˈdɪktəm]n.宣言，声明
embolden[ɪmˈbəuldən]v.鼓励，使 （更） 勇敢
mindful[ˈmaɪndful]adj.注意的，留神的
deference[ˈdefərəns]n.听从，遵从；尊重
intertwine[ˌɪntəˈtwaɪn]v.缠结在一起
propel[prəˈpel]v.推进，推动
grievance[ˈgri：vəns]n.委屈，苦衷
flurry[ˈflʌrɪ]n.疾风；骤雨
gravitas[ˈgrævɪta：s]n.庄严的举止
hegemonic[ˌhegɪˈmanɪk]adj.支配的；霸权的
chauffeur[ˈʃəufə]n.受雇于人的汽车司机
strategist[ˈstrætɪdʒɪst]n.战略家
brokerage[ˈbrəukərɪdʒ]n.经纪业
Notes to the Text
［1］Delphi Corp.—an automotive parts company headquartered in Troy,Michigan,USA.Delphi is one of the world's largest automotive parts manufacturers and has approximately 146,600 employees (18,900 in the United States).
［2］Mich.—（short for）the state of Michigan密歇根州（美国）
［3］"buy American"—The phrase is from "Buy American Act" that was passed in 1933by Congress and signed by President Hoover.The Policy required the United States government to prefer U.S.-made products in its purchases.
［4］Shougang Corp.—one of China's oldest state-owned companies.Shougang （alsoknown as Capital Steel） built its reputation with construction steel.The steelmaker ranks among China's largest and also specializes in industrial controls and the computer industry.首钢集团公司
［5］Dragonomics—Dragonomics Limited is an economic research service and consultancyfor multinational companies and financial institutions，providing information and analysis on China's economy and business environment.北京龙洲经讯咨询公司
［6］Great Recession—大衰退
［7］Morgan Stanley Asia—摩根士丹利亚洲公司是一家国际性金融服务公司，业务范围涵盖投资银行、证券、投资管理以及财富管理，总部在香港。
［8］Myanmar—Repubic of the Union of Myanmar.Burma （缅甸） is derived from theBurmese word “Bamar”，which in turn is the colloquial form of Myanmar.缅甸联邦共和国，简称缅甸
［9］the Brookings Institution's John L.Thornton China Center—A research center namedafter Professor John L.Thornton.It offers independent analysis and policy recommendations to help U.S.and Chinese leaders address key long-term challenges，both in terms of U.S.-China relations and China's internal development.布鲁金斯学会约翰·桑顿中国中心
［10］lender-in-chief—一个典型的作者自造的新词，意思是“主要债主国” （中国目前是美国国债的最大持有国。截至2009年9月末，中国持有的美国国债达到5 850亿美元）。
［11］Soviet—the Union of Soviet Socialist Republics （USSR）苏联（已于1991年解体）
［12］MG Rover—名爵罗孚汽车公司（英国）
［13］limited-edition—限量版（发行量有限的）
［14］Saab—萨博，也译作绅宝，通用汽车公司旗下的著名汽车品牌之一
［15］General Motors—通用汽车公司（美国）
［16］Geely Automobile—吉利汽车公司（中国）
［17］Volvo—沃尔沃（瑞典著名汽车品牌，该品牌汽车以安全性著称）
［18］stake out—put forward one's claim 提出主张
［19］Fuyao Group—福耀集团，全称福耀玻璃工业集团股份有限公司，1987年在中国福州注册成立，是一家专门生产汽车安全玻璃和工业技术玻璃的中外合资企业。
［20］Cadillac—凯迪拉克 （美国通用汽车公司生产的豪华汽车品牌）
［21］Cadillac created its 2008 CTS with China in mind，adding a deeper back seat forChinese buyers driven by chauffeurs.—凯迪拉克公司在生产2008 CTS款汽车时产把中国乘客的特点考虑在内，这款车的后排座椅比其他款向内凹陷得更深。售给中国买家的这些汽车由专职司机驾驶。
［22］Tempo Group—江苏天霸集团进出口有限公司
［23］Europeans may hope that the U.S.has been knocked down a peg or two，but even ifthat is so，they could be in for a nasty surprise.—欧洲人或许希望看到（因中国的崛起）美国的锐气已经受挫，但是即使果真如此，他们很可能会惊诧不已。（knock down a peg or two挫某人锐气；be in for一定会遭遇）
［24］BGC Partners—英国著名的货币经纪公司
Exercise
A.Choose the best answer to answer the question.
1.Why is Delphi selling the unit to a Chinese company named Shougang Corp.?
A.Because it's a place where the phrase "buy American" is right at home.
B.Because Delphi needs cash and investors led by Shougang Corp.who are willing tobuy it.
C.Because Shougang Corp.is a company owned by Chinese government.
D.Because China has experienced explosive growth.
2.Which of the following statements is not true?
A.Japan's economy is only second to the United States.
B.India is experiencing explosive growth as China.
C.Economic power is shifting from the United States to Asia.
D.Great Recession has slowed down the shift of economy power from the USA to Asia.3.Which of the following about China is true?
A.China will replace the United States as global leader in the near future.
B.Unlike the United States,China comes out of the financial crisis weaker.
C.With its economic success,China is getting more respect in the United Nations.
D.China is sure what role it should play in the world arena.
4.Which is not mentioned by the author as a problem that China is confronted today?
A.Crime.
B.Poverty.
C.Corruption.D.Pollution.
5.What,according to the author,is the United States not superior to China?
A.Innovation in many areas.B.Perseverance.
C.Ability to cope with challenges.D.Attraction to intelligent immigrants.
B.Answer the questions based on the text.
1.What does the author mean by saying that "Beijing is still getting its own sprawling,chaotic house in order"?
2.What changes has the author noticed as far as China's role in the international affairs isconcerned?
3.In what way do Chinese and American economies intertwine?
4.As Washington's lender-in-chief,how is China altering the dynamic of the two countries'relationship?
C.Discuss the topics.
1.Why is China's rise for the United States a mixed blessing?
2.In what way does China influence the world economically and politically?
D.Translate the sentences into Chinese.
1.China,a major destination for foreign investment,was starting to reverse the flow andinvest abroad before the financial crisis.
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2.Even as it is on track to overtake the American economy in size as early as 2030,Chinais burdened by enormous problems of corruption,poverty and pollution.
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3.Never underestimate the ability of the American people to rise to a challenge.
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