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外刊语法填空含全文翻译和重难点句型讲解
The global economy
Sapped of vitality
Why are the rich world’s politicians giving up on economic growth?
The prospect of recession may loom over the global economy today, but the rich world’s difficulties over growth are graver still. The long-run rate of growth has dwindled alarmingly, 1._________(contribute) to problems including stagnant living standards and fulminating populists. Between 1980 and 2000, GDP per person grew 2.______ an annual rate of 2.25% on average. Since then the pace of growth has sunk to about 1.1%.
Although much of the slowdown reflects immutable forces such as ageing, some of it can be reversed. The problem is that, as we write this week, reviving growth has slid perilously down politicians’ to-do lists. Their election manifestos are less focused on growth 3.______ before, and their appetite for reform has vanished.
Ageing has not just hurt growth directly, it has also made electorates less bothered about GDP. Growth most benefits workers with a career ahead of them, not pensioners on 4.______(fix) incomes. Our analysis of political manifestos shows that the anti-growth sentiment they contain has surged by about 60% since the 1980s. Welfare states have become focused on providing the elderly with pensions and health care 5._____ ______ investing in growth-boosting infrastructure or the development of young children. Support for growth-enhancing reforms has withered.
In fact, demographic decline means 6.______ liberal, growth-boosting reforms are more vital than ever. These will not restore the heady rates of the late 20th century. But embracing free trade, loosening building rules, reforming immigration regimes and making tax systems friendly to business investment 7.______ add half a percentage point or so to annual per-person growth. That will not put voters in raptures, but today’s growth is so low 8.______ every bit of progress matters—and in time will add up to much greater economic strength.
For the time bei