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太奇“每日一阅”:MPAcc英语阅读强化练习(20)

2014-04-30 10:13:28 阅读:(宏博太奇考研

  MPAcc考研英语的复习难度,通常体现在学生的耐性上,能否坚持长期学习,是学好英语的关键之一。太奇教育向备考2015年MPAcc的考生们推出“每日一阅”,加强大家对MPAcc英语阅读的练习。

  The war against deflation in Japan will start with a battle for the pocketbooks of recession-hardened consumers like Kumiko Kuramochi.

  The Liberal Democratic Party, which stormed to an election victory on Sunday, hopes to persuade Kuramochi and other Japanese that an aggressive monetary policy is going to fire up inflation. The message: buy now before prices start rising again.

  The problem though is that a bargain-hunting psychology is so entrenched after two decades of stop-start economic growth, 15 years of falling wages and nearly 15 years of deflation that the government will struggle to convince people their incomes will improve enough for them to buy more expensive goods.

  Kuramochi, 38, is typical. With two small children in tow, she was shopping for bargains in eastern Tokyo ahead of Sunday's election. Worried that her husband's salary as a pipe-layer could get cut next year, she is pulling back on spending.

  "I bought winter coats for myself and one of my kids during a sale, because we try to limit how much we spend," Kuramochi said. "I'm worried about the finances. Money is tight and I don't expect my husband's income to get better next year, because the economy isn't doing well."

  The problem of how to reverse Japan's long-running deflation has become the defining economic issue for LDP leader Shinzo Abe.

  He has vowed to end the era of falling prices and slumping demand in Japan, which is in its fourth recession since 2000, through "unlimited" bond purchases by the Bank of Japan. The argument is this will create inflation expectations, which will translate into consumption and in turn boost economic growth.

  Classical economics would argue that consumers should welcome deflation, because it increases their purchasing power, and that people only hunt for bargains in earnest when they worry that prices will rise.

  But in Japan's case, data shows purchasing power has been falling faster than prices. Japan's average earnings have fallen 12.2 percent since fiscal 1997, while a core measure of consumer prices - excluding food and energy - has fallen 6.8 percent.

  In addition, consumers have spent so many years worrying about incomes and job security that finding ways to spend less has become a habit.

  "Our finances will improve next year when my wife goes back to work, but we still plan to buy the cheapest goods we can find," said Yuichi Kawakami, 43, a freelance graphic designer.

  "I worry about prices, because the economy isn't doing well. We also need to save for expenses down the road."

  Kawakami, who was playing with his one-year-old daughter in a coffee shop, said he and his wife used the website to compare prices at supermarkets in the neighbourhood to find the cheapest goods.

  Japanese daytime television regularly celebrates the bargain-hunter: the young housewife who compares prices at three different supermarkets before she buys, the salarymen and office ladies who queue to buy a 300 yen ($3.58) bento box lunch, the retiree who worries the pension system will collapse.

  Retailers play their part, constantly discounting to lure customers. In part, that has been made possible because the yen - which has risen close to 50 percent against the dollar in the last 20 years - has made many imports cheaper.

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