February 23, 2014
SYDNEY — A meeting of the world’s 20 most powerful finance ministers and central bankers has ended in Australia with a promise to set a firm target for global economic growth.The G20 accounts for 85 percent of global production, and two thirds of the world's population.Its aims are to conquer economic uncertainty, foster growth and create jobs.
Host Australia urged the G20 to agree to faster global growth targets.Australian treasurer (finance minister) Joe Hockey had insisted that the G20's collective gross domestic product, or total value of goods and services, could be raised by "at least two percent" above current projections during the next five years.
Hockey has been able to convince his G20 colleagues to adopt the growth target, which is not binding but could create tens of millions of jobs around the world.
Australia has acknowledged recent signs of stronger economic growth in the United States, Britain, Japan and China, but has stressed that the global economy has yet to achieve sustainable and balanced growth.
A two-page communiqué said the nations would “develop ambitious but realistic policies” that would “lead to significant additional jobs.”
U.S. Treasury Secretary Jack Lew praised the summit’s spirit of cooperation."This was a debate about how can we [sic] work together to share best practices and develop an approach where our individual economies can grow,” he said.
Finance ministers and central bank governors from the world's top economies, along with the head of the International Monetary Fund, Christine Lagarde, have held two days of closed sessions.
Tim Harcourt, an economist at the University of New South Wales, says the mood of the Sydney meeting has been positive.
“I think it is important because of the tangible information, tacit information that they will swap, and they swap notes.I saw Christine Lagarde, the head of the IMF [International Monetary Fund], you know, she is rarely in Australia, so I would have thought it is a good chance for them to exchange and swap notes as they always do," Harcourt stated."But also do it in Asia, do it in Asia, do it in a part of the world that is actually growing compared to where they are normally meeting.”
Another key focus of the conference was the shockwaves being felt by some emerging economies from the U.S. Federal Reserve’s easing of its huge stimulus program, which has seen a flow of capital back to the United States and led to currency volatility in other countries.
Emerging nations have been unsettled by the restricting of cheap and easy credit, which has begun to dry up as U.S. authorities slow the printing of more money.
Countries led by Indonesia, South Africa and Brazil have called on the U.S. to provide more information on its stimulus reduction.Australia has said there should be better communication and more transparency about policies that affect international markets.
G20 officials in Sydney have also been focusing on how to free up labor markets and to encourage more investment in infrastructure.
Measures discussed at the Sydney conference may also be at the forefront when the leaders of the G20 grouping of nations hold a summit in the Queensland city of Brisbane later this year.
account for (v phr) 占. . .的比例；對...負有責任
conquer (v) 克服；征服
foster (v) 促進XXXXX*本字也可作形容詞，指「領養關係的」，常見詞條有 foster parents (養父母)、foster child (養女、養子)
projection (n) 預測，推估
binding (a) 有約束力的
20國集團(G20) 占了 (account for ) 全球生產的 80%，三分之二的人口。集團成立的目標是要克服 (conquer) 經濟不確定性與促進 (foster) 經濟成長與創造工作機會。
東道國澳洲 (host ) 敦促G20國家同意加速達成全球成長目標，其財政部長 (treasurer)主張 (insist)，G20共同的 (collective) 國內生產毛額 (gross domestic product)，在未來五年期間的成長幅度應該比目前預測 (current projection) 的還要提高至少2%。此成長目標獲各國與會同僚 (colleague) 認同採用 (adopt)。雖然對各國並無約束力 (binding)，但預料可在全球創造數百萬的工作機會。
sustainable (a) 可持續的，能維持的
communiqué (n) 公報XXXXX*注意發音：
澳洲在會中指出，美國、英國、日本、中國的經濟成長確實在近期有轉強跡象 (recent signs of . . . )，但全球經濟仍未達可持續性的 (sustainable)、平衡性的發展。兩頁的會議公報 (communiqué) 中說，「各國應發展具野心但實際的政策」，「增加更多的工作機會」(additional jobs)。
tangible (a) 明確的
tacit (a) 不明說，但有默契達成共識的XXXXX*注意發音：
世界各大經濟體的財政首長 (finance minister) 和央行官員 (central bank governor)，與國際貨幣基金組織 (International Monetary Fund, IMF)的總裁拉加德舉行了兩天的閉門會議 (closed sessions)。
新南威爾斯大學的經濟學家 Tim Harcout 認為，雪梨會議的氣氛很正面。他說，「這會議很重要的是意義是，各首長能交換明確的 (tangible )，有共識默契的 (tacit) 訊息，並且能交換意見 (swap notes)。
volatility (n) 易變；反覆無常XXXXX*這個字的形容詞是 volatile ，可以用來指局勢「不穩定」，人的「情緒變動很大」，化學物質「容易揮發」；在此指短期間內貨幣價值的不穩定，大多指各國貨幣對應美元匯率 (exchange rate) 波動很大。
stimulus (n) 刺激XXXXX*這幾年財經類新聞常見到這個字，意思是「刺激經濟」的方案或措施
infrastructure (n) 公共建設
forefront (n) 最前方，最前線
會中另一重要焦點是美國聯邦銀行減緩 (ease) 刺激方案所引發的震撼 (shockwave ) ，尤其是讓新興經濟體 (emerging economies) 有明顯感受，其造成了資金回流 (a flow of capital back to . . .)，導致他國貨幣的劇烈波動 (currency volatility)。
印尼、南非、巴西等國呼籲 (call on ) 美國提供更多刺激經濟方案縮減 (reduction) 的訊息。澳洲也表示，影響 (affect) 國際市場的政策應該有更多溝通與透明度 (transparency)。
雪梨G20與會官員也聚焦在 勞動市場 (labor market ) 自由化上，並鼓勵擴大基礎公共建設 (infrastructure ) 投資。
本次雪梨會議中討論的各項措施 (measure)，預料會為今年稍後在澳洲布里斯本舉行的20國高峰會 (summit) 中討論議題的前導 (at the forefront )。
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Fill in the blanks with a word or phrase from the list above. Make necessary changes. After you finish, select the text below to reveal the hidden answers.
1. The company has always been at the forefront of science and technology.
2. These classroom activities are intended to foster children's language skills.
3. He declined to make projections about fourth quarter earnings.
4. The party is promising low inflation and sustainable economic growth.
5. There is no tangible evidence of dishonesty among the company's directors.
6. Afro-Americans account for 12% of the US population.