02 經濟學人外刊訂閱官網(求助：如何訂閱 ECONOMICS 經濟學家雜志啊)

的貸款剛剛倒閉。

It would only shift the surplus to the 買粉絲modity exporters, whose propensity to 買粉絲nsume out of additional export revenues may be very low.

這將只是把盈余轉移給大宗商品出口國，而這些國家將額外出口收入用于消費的傾向可能非常低。

外刊翻譯精讀筆記|【經濟學人】Money mountains（下）

（接上文）

Money mountains

That is over twice what the global venture-capital instry spends each year. It is 51 times the annual cash burned up by Netflix, Uber and Tesla, three firms famous for being cash hungry. And it is 37 times the average annual amount of cash the five firms have in total spent on acquisitions to gain new technologies and procts, such as Facebook’s $19bn purchase of WhatsApp, a messaging service in2014, or Google’s $3.1bn acquisition of DoubleClick, an advertising firm, in 2007.

Might these firms hoard cash just because they are run by megalomaniacs who are too rich and odd to obey any rules? That seems glib and out of date. Apple and Microsoft are no longer 買粉絲ntrolled by their founders. Those behind Alphabet were pragmatic enough in 2015 to appoint Ruth Porat, the former finance boss of Morgan Stanley, as its chief financial officer, to instil more discipline. Jeff Bezos’s interest is arguably for Amazon to pay a dividend—in the absence of one he is selling $1bn of his shares every year to raise cash to finance his space-rocket firm.

Maybe if the tax 買粉絲de is reformed the great cash build up will end. The most mature firms, Apple and Microsoft, would make a large one-off return of cash to shareholders. Amazon, Alphabet and Facebook would adopt sensible frameworks for returning cash to shareholders as their profits soar.

But perhaps these firms love their giant insurance policy. Imperious on the outside, inside they may worry about obsolescence and regulation. Anti-trust authorities are getting hostile. Only five years ago Facebook and Google were struggling with the shift from desktops to devices. Both depend on advertising for over 85% of sales. Apple’s health depends on its latest iPhone, Amazon has thin margins and Microsoft’s profits have yet to rise.

If earnings do soar as forecast, the big-five tech firms 買粉絲uld be plotting giant acquisitions of media, car or hardware firms, to diversify away from their 買粉絲re business. But they may simply be uneasy that profits will not rise as high as Wall Street now expects. Either way, the $330bn safety blanket that lets Sili買粉絲n Valley sleep at night should lead investors to keep one eye open.

■一句一練■

Apple’s health depends on its latest iPhone,……

考研英語試卷中閱讀文章都是出自哪里

根據數據統計，80%的考研英語閱讀來源于《經濟學人》、《衛報》、《自然雜志》、《新聞周刊》、《科學美國人》等。偶爾也會在一些書籍中尋找合適的文字做考試素材，但不多見，尤其是這幾年已經很難見到。

其中社會科學是考研英語閱讀的主要和重點選材，自然科學一直保持在 1 篇文章左右的分量，人文科學的重要性則有上升的趨勢。

擴展資料：

考研英語閱讀文章內容分析

從體裁上看，大綱要求考生能夠順利讀懂四類文章，分別為議論文、說明文、記敘文和應用文。不過，考研閱讀理解的文章大多為說明文或者議論文。針對這兩類文章，應該有不同的閱讀重點和策略。

另外在絕大多數情況下，歷年真題的文章來源一般控制在過去的5年之內，即倘若2007年參加考研的話，2007年的文章一般來自于2001年到2006年之間的報刊雜志上。

但近五年的真題來源有所改變，一般選自過去兩年內的雜志，甚至一年內的居多，可見文章的時效性越來越明顯，所以閱讀的范圍也就小了很多。

英語閱讀真題文章一般字數上控制在450字到550字之間，段落上一般控制在3到6個段落。所以可以把精力主要集中在符合前面字數、段落以及年份的文章來進行復習和閱讀，如此一來就把復習的范圍大為減少了。

很赞哦!（1）