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外刊语法填空——含全文翻译和重难点句型讲解
Stalling Asia
The chips hit the fan
A global electronics slump is driving Asia’s trade champions to the wall
On December 7th China announced it was relaxing yet more of its covid-19 restrictions. The news was well received by the once roaring economies of East Asia. In recent days many 1.________ (report) terrible trade data that suggest the domestic effects of China’s zero-covid policies have ricocheted across the region. A reopening, however tentative, can only help. But the reasons behind the tigers’ angst extend well beyond woes faced by their big neighbour. As the world spends less on expensive gadgets, the world’s busiest manufacturing hub is being driven to the wall.
China is certainly 2._____ big factor in the sharp deceleration across the region. Asia’s largest economy is reeling from many months of disruptive pandemic-control measures and a homegrown property crisis. Data released on December 7th showed a 9% year-on-year fall in Chinese exports in November, a far 3. ______(steep) decline than expected by analysts.
As Asia’s growth engine sputters, so 4.______ trade between countries in the region. Exports from trade-intensive South Korea, which slid by 14% year on year overall in November, were particularly hampered by dwindling sales to China, which shrank by 26%—the biggest 12-month decline since 2009. Taiwan’s sales to the mainland and Hong Kong slumped by 21% over the period. There may be more bad news 5.______(come). dwindling intra-Asian trade, 6._____ is largely made up of intermediate goods, probably signals a deeper drop in future sales of finished products.
The China drag may start to ebb at some point next year—but slowly at best. The recovery of the world’s second-biggest economy could take many months and large outbreaks of covid-19, as rules are loosened, 7.______ cause short-term disruptions.
The squeeze on Asian industry is in stark contrast to the years 8. _________ the financial crisis, when low interest rates