学位英语

Financial Risks

Several types of financial risk are encountered in international marketing ; the major problems include commercial, political, and foreign exchange risk.

(1) They include solvency, default, or refusal to pay bills. The major risk, however, is competition which can only be dealt with through consistently effective management and marketing.(2) Such risk is encountered when a controversy arises about the quality of goods delivered, a dispute over contract terms, or any other disagreement over which payment is withheld. One company，for example，shipped several hundred tons of dehydrated potatoes to a distributor in Germany. (3) The alternatives for the exporter were reducing the price, reselling the potatoes, or shipping them home again, each involving considerable cost.

Political risk relates to2 the problems of war or revolution, currency inconvertibility3,expropriation or expulsion, and restriction or cancellation of import licenses. (4) Management information systems and— effective decision-making processes are the best defenses against political risk. As many companies have discovered, sometimes there is no way to avoid political risk4，so marketers must be prepared to assume them or give up doing business in a particular market.

Exchange-rate fluctuations inevitably cause problems, but for many years，most firms could take protective action to minimize their unfavorable effects5. (5) International Business Machine Corporation, for example, reported that exchange losses resulted in a dramatic 21.6 percent drop in their earnings in the third quarter of 1981. Before rates were permitted to float,devaluations of major currencies were infrequent and usually could be anticipated, but exchange-rate fluctuations in the float system are daily affairs.

词汇：

solvency 偿付能力

contract terms 合同条款 d

ehydrated potato 脱水土豆

expropriation 剥夺……所有权;没收、征用

expulsion .逐出，开除;呼出, 排出

cancellation 取消，注销;作废，废除

import license 进口许可证

exchange-rate fluctuation 汇率率波动

floating exchange rate 浮动汇率

International Business Machine Corporation (美国)国际商用机器公司

注释：

1.... encountered in day-to-day business. ??…?在日常的商务活动中遇到的。

2.relate to…：与……有关。例如：

We are interested in what relates to ourselves.我f门关、注与我f门自己有关的事。

3.currency inconvertibility:货币的不可兑换性

4.... sometimes there is no way to avoid political risk： ???…有时政治风险是不可避免的

5.... to minimize their unfavorable effects. 把它们的不利影响—到最低程度。

练习：

A Political risk is an environmental concern for all businesses.

B One unique risk encountered by the international marketer involves financial adjustments.

C Commercial risks are handled essentially as normal credit risks encountered in day-to-day business.1

D The distributor tested the shipment and declared it to be below acceptable taste and texture standards.

E Floating exchange rates of the world's major currencies have forced all marketers to be especiallyaware of exchange-rate fluctuations and the need to compensate for them in their financial planning.

F Many international marketers go bankrupt each year because of exchange-rate fluctuation.

答案与题解：

1.C从文章结构上看，第一段提出要讨论三种主要的金融风险：商业风险、政治风险和外汇 险。第三、第四段的主题句告诉我们这两段分别讨论了政治风险和外汇风险，第二段自然是 谈商业风险,用C作该段主题句是最合适的。

2.B本段第二、第三句话列举了商业风险的种种表现形式，B说:“国际市场独有的一种风险 与金融调节有关。”后一句话的主语Such risk指的就是这一独特的风险，such在句子之间起 到了衔接作用。

3.D本句和前一句举例说明因产品质量争议而引起的所谓国际市场独有的商业风险。本句 主语the distributor指的就是上句中出现的a distributor in Germany，这里distributor通过重复 在句子之间起到了衔接作用。

4.A本段主要谈政治风险，因而选项A最合适。 、

5.E本段主要谈外汇风险，E说：“世界主要货币的浮动汇率制迫使所有商家特别关注汇率的 波动，并意识到需要调整金融计划来作补偿。”后一句以国际商用机器公司为例说明这一情况。

编辑推荐：

2015年职称英语考试合格证书领取时间汇总

2016年职称英语考试网络辅导

（责任编辑：vstara）

共2页,当前第1页  第一页  前一页  下一页