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时间:2019年08月20日 18:51:15

The results of this two-tier system have been meagre so far. The frenzy in the biggest cities stems from the central bank’s steady loosening of monetary policy over the past 18 months. Although warranted from an economic perspective, it was inevitable that low interest rates would drive asset prices higher. Initially, much of the credit pumped out by banks ended up in the stockmarket, but following its crash last summer, property beckoned as one of the few decent investment options in China (capital controls, which have been further tightened recently, make it hard for Chinese savers to invest their money abroad).这种分而治之的房地产政策目前看来收效甚微。大城市房价飙涨的根源是央行在过去18月来逐步放宽的货币政策。尽管该政策的目的是为了拉动经济,但低利率不可避免地会拉升固定资产价格。一开始,释放的大部分信贷涌向了股市,然而经历了去年夏天的股灾之后,房地产成为了投资者们为数不多的上佳选择(资本管制最近也逐步收紧,这让中国人很难把他们的存款投资到境外市场)。For speculators looking at property, the excess supply in smaller cities was all too evident, so they turned instead to the megalopolises. Du Jinsong of Credit Suisse describes it as a form of groupthink. “Everybody—investors, developers, policymakers and bankers—thinks that first-tier cities are safe,” he says.对于把目光投向房地产的投机客而言,小城市的房屋供给过剩太明显,所以他们转而看向大城市。瑞士信贷的杜劲松把这种情况描述为集体迷思:“每个人——投资者、开发商、政策制定者和家——都认为投资一线城市更加安全。”Even as the government tries to restrain the excesses, however, it does not want to snuff out the rally in the big cities altogether, for they tend to influence sentiment elsewhere. There are signs that this is beginning to happen. Housing prices started rising month on month in the biggest cities a year ago. In midsized cities (in China, those with populations of 5m-10m), prices have been rising for the past four months. In smaller cities (mere hamlets of 1m-5m), gains have been evident only for the past two months (see chart).即使政府希望抑制这种过量投资,但并不打算把涌进大城市的各路资金全部赶走,以防他们对其他敏感领域施加影响。这种趋势已经可见端倪。大城市的房价在过去的一整年中连月增长;中等城市(人口在五百万到一千万之间)的房价在过去四个月持续增长;而小城市(人口在一百万到五百万之间)的房价只在过去两个月有明显增长。If this upturn lasts, some investors reckon it will spur construction. Commodities used to build apartment blocks, such as iron (girders) and copper (wires), have recovered slightly from their recent swoon, partly in the hope that China’s property market is also stirring (see article). Indeed, a series of mini-cycles in the Chinese housing sector over the past decade followed this sort of pattern: rising housing sales led to new building starts, which in turn pushed commodity prices higher.如果情况能持续好转,一些投资者认为它将会刺激建筑行业。如铁梁、铜线这类用于建造公寓的材料商品,都已渐渐从最近的低迷期得以复苏。部分以期中国房地产市场也将处于动荡。的确,中国房地产行业过去十年一系列小周期活动都遵循这种模式:房产销售上涨带动新建筑的开发,新建筑的开发反过来推动材料价格上升。Figures from the China Index Academy, a data provider, show that the stock of unsold homes has decreased recently, from nearly 30 months’ worth of sales early last year to 15 now. “A housing market with rising volume and prices clearly does not support the view that, on a macro level, China’s housing market is oversupplied,” notes Liang Hong of China International Capital Corp, an investment bank.根据中国指数研究院提供的一官方数据显示,未售房屋的存量在最近得以减少,从去年初近30个月的销售量,减少至目前的15个月。“这个存量和价格并升的房地产市场显然并不能从持宏观上中国房地产市场产能过量的观点,”中国国际金融公司(投行)梁宏如是说道。But there is a further vast increment of supply on the verge of coming to market, because developers slowed the pace of construction in recent years and in some cases halted it altogether.但是大量的供房即将上市,因为开发商近年放缓了大兴土木的节奏,一些建筑都已全部停工。 译文属译生译世 /201604/437565

Do you watch movies like that?I do, I like movies like that.你会看这种电影吗 我会的 我喜欢这种电影You like getting scared? - I dont like scary movies.Do you like getting scared? - But I like being-Ahh!你喜欢被吓到吗 -我不喜欢惊悚片 我是说你喜欢被吓到的感觉吗 -不过我喜欢 啊啊啊Hey youre early.Where the damned ?Why are you so angry?今天来这么早 那该死的的录影带在哪 你生什么气啊What you did in my classroom today..Youve been avoiding me.你今天在我的班里是怎么回事 你一直在躲我What do you think its just kind of game were playing here?你以为这很好玩吗This is real life.That is my home.Okay youre doing things Your cheating, lying husband?这是真实生活 那是我的家 你在我的孩子 我的丈夫面前 那个欺骗你还搞外遇的丈夫Okay, whats your plan?What do you think, what do you think?好了 你想干什么 你以为会怎样 你到底怎么想Were gonna date?Were going on family vacations together?难道我们要去约会吗 我们一起去过家庭假期吗What do you think is gonna happen here?你以为我们能怎样Jennifer Lopez in ;The Boy Next Door;.So its ;The Boy Next Door;. - It is.詹妮弗·洛佩兹主演 ;邻家男孩; 电影是关于一个 ;邻家男孩; -是的And, you have a little fling with him?Well, thats not the whole movie.你跟他在电影里有一段风流韵事 那只是电影的一部分The movie is about a woman, Claire Peterson,who basically is at a really low point in her life.电影是说一个叫克莱尔·彼得森的女人 她正处在人生的低谷Her husband is separated, contemplating divorce.和她的丈夫分居了 正在考虑离婚Hes cheated on her.She is feeling not her best, obviously.她的丈夫对她不忠 可想而知 她的心情比较低落And a boy moves in next door,who be befriends her son.这时隔壁搬来了一个男孩 和她的儿子成为朋友 /201512/413719

Local television地方电视台之春Coming soon呼之欲出It is going to have a lot of adverts and reality shows接下来是广告和真人秀的时间How it’s done in San Diego瞧瞧圣迭戈是咋办的Why does Birmingham, Alabama have eight local television stations while the larger Birmingham in the West Midlands has none? The question so irked Jeremy Hunt, the culture secretary until last year, that he decided to do something about it. Now his vision is taking shape. Local TV licences have been awarded in 16 of 19 pioneer areas. By the end of the year the currently defunct Freeview channel eight will start to glow with local fare.为什么美国亚拉巴马州的伯明翰有八个地方电视台,而英国西米德兰兹郡的大伯明翰市却一个也没有?这个问题直到去年还在困扰着英国文化大臣杰里米·亨特,他决定改变这一状况。如今他的蓝图正逐渐成形,地方电视执照已经在19个试验地区中的16个发放。到今年年底,之前已停播的自由观点第八频道将通过地方收费重获新生。In America, local stations are affiliated with national broadcasters; they rely on huge shows like “American Idol” to drive viewers to their news programmes. Britain’s local outfits will have to survive without such support. Andrew Mullins, managing director of the Evening Standard, which won London’s franchise, expects to start turning a profit only in the fourth year. And the capital has the advantage of reliable viewing figures. Most of the new stations will lack them, making it hard to sell advertising. Businesses may treat local TV more as a target for sponsorship, says Sean McGuire of Oliver and Ohlbaum Associates, a consultancy. There may be a lot: local TV licences are not bound by an EU cap on commercials. With several bid-winners promising less than two hours of original programming each day, repeats and teleshopping will also abound.在美国,地方电视台都隶属于国家广播公司。这些电视台通过像“美国偶像”这样的节目来引导观众收看他们的新闻节目。而英国的地方电视台却没有这个条件。拥有在伦敦发行特许权的《英国标准晚报》总经理安德鲁·穆林斯只期望能在第四年实现盈利,而且因为在首都伦敦的缘故,他们还占有可靠收视率的优势。相比之下,多数的新闻媒体都缺乏这一优势,这让媒体的广告很难叫卖。按媒体咨询公司奥利弗和奥尔邦姆的西恩·麦奎尔的说法,在商人眼里,电视更像是一个赞助单位。好处多多:地方电视牌照不受欧盟商业广告的限制。由于中标广告商承诺每天播放的原创广告不超过两个小时,所以通过重复广告和大打电话购物牌的路子将会兴盛起来。Where local television flourishes, in Canada and America, news is at its core. Many local newspapers have disappeared in the past few years. But Simon Terrington, another consultant, reckons demand for neighbourhood news is high. The eight or so bid-winners that are subsidiaries of local media groups should find this easiest to provide. Mr Mullins says the Evening Standard will offer screen tests to all its journalists.在诸如加拿大和美国这些地方电视台兴盛的地方,新闻往往是其内容的核心。许多地方报纸在过去的几年关门停刊,不过在咨询师西蒙·特林顿看来,社区新闻的需求量依然很高。诸如第八频道这样的地方媒体公司的中标人应该注意到,这一类新闻是最容易操作的。穆林斯表示,《伦敦标准晚报》就会为它的所有记者提供试镜机会。Bill Smith of Latest TV in Brighton and Hove thinks local television will unlock creativity. “If you make it we’ll show it,” he says. Localism may be defined rather loosely. Latest TV has “International Chef Exchange”, a reality show in which Dutch and English cooks swap lives for a few days. City TV Birmingham will offer “Reach for the Top”, a secondary-school quiz show resembling “University Challenge”. Such formats could migrate to bigger channels if they work. The B has pledged to spend 15m pounds on local content over the next three years.比尔·史密斯在布莱顿和霍夫的最新电视节目上表示,地方电视台可以产生新的创造力。史密斯说:“只要有料,我们就报。”地方主义的定义是相当宽泛的。布莱顿和霍夫最新的一期电视节目上播了“国际厨师交流”,这档真人秀节目将荷兰和英国的厨师互换身份,各自体验彼此的几天生活;城市电视台伯明翰分台则播放了“挑战巅峰”,这是一档类似于“大学挑战”的中学生智力竞赛节目。如果这些节目反响不错,收视率更高的频道就将采用它们。英国广播公司已承诺,未来三年里拿出1500万英镑来发展地方电视台节目。Despite their local roots, the stations are drawing together. Their representatives meet monthly. Debra Davis, who heads City TV, argues that they will attract national advertisers only if they act collectively. Mr Smith is pushing for the local stations to pool successful shows. Expect a miscellany of little Britain, punctuated by cheap ads.尽管这些地方电视台来自五湖四海,但是它们正开始走到一起。电视台的代表们一个月碰一次头。城市电视台的负责人黛布拉·戴维斯认为如果节目到位了,那就不愁国内的观众不关注。史密斯则推动地方电视台共同打造成功的节目。相信不久我们就会见到一个满是廉价杂烩广告的微缩版英国了。 翻译:程蒙译文属译生译世 /201609/469010


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