DAY 90 Has covid-19 killed globalisation?

DAY 90 Has covid-19 killed globalisation?

 globalisation  /ˌɡləʊbəlaɪˈzeɪʃn/
​the fact that different cultures and economic systems around the world are becoming connected and similar to each other because of the influence of large multinational companies and of improved communication

The flow of people, trade and capital will be slowed

1 Even before the pandemic, globalisation was in trouble. The open system of trade that had dominated the world economy for decades had been damaged by the financial crash and the Sino-American trade war. Now it is reeling from its third body-blow in a dozen years as lockdowns have sealed borders and disrupted commerce (see Briefing). The number of passengers at Heathrow has dropped by 97% year-on-year; Mexican car exports fell by 90% in April; 21% of transpacific container-sailings in May have been cancelled. As economies reopen, activity will recover, but don’t expect a quick return to a carefree world of unfettered movement and free trade. The pandemic will politicise travel and migration and entrench a bias towards self-reliance. This inward-looking lurch will enfeeble the recovery, leave the economy vulnerable and spread geopolitical instability.

dominate    /ˈdɒmɪneɪt/  vt. 控制；支配；占优势；在…中占主要地位
to control or have a lot of influence over somebody/something, especially in an unpleasant way

Sino-American  adj. 中美的 
Sino-  ['sainəu]  pref. 中国的 Chinese   前缀  
eg： Sino-Japanese relations 
Sinopec   [ˈsaɪnoʊˌpɛk]   中国石油化工集团有限公司  中国石化

reel from 由于…而蹒跚；受…的不好影响
reel v. 迷惑，震惊；（因突然受挫）晕眩；（尤指醉酒）走路踉跄

body-blow /ˈbɒdi bləʊ/  严重打击  ；重击（拳击比赛中）；惨败，大失所望
something which has damaging effects on somebody/something, creating problems or causing somebody to be very disappointed

a dozen years  十几年来。  一打；十二个

 lockdown ​ /ˈlɒkdaʊn/  禁令；防范禁闭(期) 
an official order to control the movement of people or vehicles because of a dangerous situation

commerce  /ˈkɒmɜːs/  n
​trade, especially between countries; the buying and selling of goods and services
  disrupted  使瓦解；使分裂；陷于混乱 
VERB使中断;扰乱If someone or something disrupts an event, system, or process, they cause difficulties that prevent it from continuing or operating in a normal way.  
briefing  [ˈbriːfɪŋ]  n. 概要；简报；作战指示
passenger     /ˈpæsɪndʒə(r)/
year-on-year ['jə:r,ɔn'jə:   adj. 与上年同期数字相比的
each year, compared with the last year

transpacific [,trænspə'sɪfɪk] 
crossing the Pacific 跨太平洋的  
container-sailing
[kənˈteɪnə(r)] 
a very large metal or wooden box used for transporting goods so that they can be loaded easily onto ships and trucks. 集装箱
sailing [ˈseɪlɪŋ]
Sailings are trips made by a ship carrying passengers. N-COUNT水运航班

 carefree  [ˈkeəfri:]   ADJ-GRADED无忧无虑的;毫无牵挂的
doesn't have or involve any problems, worries, or responsibilities.
unfettered   [ʌnˈfetəd ] <正>不受限制的，不受约束的;
​not limited in any way
unfetter 解放

entrench [ɪnˈtrentʃ]
vt. 确立，牢固；用壕沟围住；挖掘 vi. 侵犯；挖掘壕沟
​to establish something very strongly so that it is very difficult to change

bias  /ˈbaɪəs/  偏爱 偏见
a strong feeling in favour of or against one group of people, or one side in an argument, often not based on fair judgement

self-reliance n./ˌself rɪˈlaɪəns/ 自立; 自力更生，依靠自己;
the ability to do things and make decisions by yourself, without needing other people to help you.

inward-looking  ['ɪnwədl'ʊkɪŋ]  adj.只关注自身的；封闭的;
lurch /lɜːtʃ/   n. 突然倾斜；失败，挫折；蹒跚
a sudden, unsteady movement that moves you forward or to the side and nearly makes you lose your balance
enfeeble   [ɪnˈfiːbl]  
to make weak; deprive of strength 使衰弱; 使无力
vulnerable 脆弱

politicise   /pəˈlɪtɪsaɪz/  vt. 使政治化， 使具有政治性； 使对政治有兴趣
​politicize something to make something a political issue

 globalisation   通常意义上的全球化是指全球联系不断增强，人类生活在全球规模的基础上发展及全球意识的崛起。国与国之间在政治、经济贸易上互相依存。全球化亦可以解释为世界的压缩和视全球为一个整体。 

1.“中石化”全名是中国石油化工股份有限公司（China Petroleum & Chemical Corporation）;[pəˈtrəʊliəm]
2.Sino代表中国(的)，相当于China ,就是“汉”的意思（注意,这个词只能作为前缀...
3.“PE”就是石油(Petroleum)的缩写;
4.C是化学品的缩写。 

伦敦希思罗国际机场（London Heathrow International Airport，IATA：LHR，ICAO：EGLL） 位于伦敦市中心以西22公里处，希灵登区南端，是4F级国际机场，大型国际枢纽机场，是全欧洲最繁忙的机场，也是全世界最繁忙的机场之一，同时也是全世界最大的机场之一。

spread 

 entrench a bias towards self-reliance  加深对自力更生的偏见

2 The world has had several epochs of integration, but the trading system that emerged in the 1990s went further than ever before. China became the world’s factory and borders opened to people, goods, capital and information (see Chaguan). After Lehman Brothers collapsed in 2008 most banks and some multinational firms pulled back. Trade and foreign investment stagnated relative to gdp, a process this newspaper later called slowbalisation. Then came President Donald Trump’s trade wars, which mixed worries about blue-collar jobs and China’s autocratic capitalism with a broader agenda of chauvinism and contempt for alliances. At the moment when the virus first started to spread in Wuhan last year, America’s tariff rate on imports was back to its highest level since 1993 and both America and China had begun to decouple their technology industries.

epoch  / ˈiːpɒk/   = era   n.纪元; 时期; 新时代; 世;
1> ​(formal or literary) a period of time in history, especially one during which important events or changes happen
2> ​(geology) a length of time that is a division of a period

integration   /ˌɪntɪˈɡreɪʃn/   n
 the act or process of combining two or more things so that they work together

pull back  拉回；撤回；拉为平手；反悔
​1> (of an army) to move back from a place  = withdraw
2>  ​to decide not to do something that you were intending to do, because of possible problems =  withdraw 

stagnate  /stæɡˈneɪt/  停滞不前
1>   to stop developing or making progress

slowbalisation  慢全球化

autocratic capitalism  专制资本主义——中特
autocratic   /ˌɔːtəˈkrætɪk/  = despotic
having complete power; involving rule by somebody who has complete power

chauvinism  /ˈʃəʊvɪnɪzəm/  沙文主义
1> an aggressive and unreasonable belief that your own country is better than all others
2>  the belief held by some men that men are more important, intelligent, etc. than women

contempt for  = have no respect for

alliances  同盟国

decouple   脱钩
separate, disengage, or dissociate (something) from something else
coupling  耦合，去耦

3 Since January a new wave of disruption has spread westward from Asia. Factory, shop and office closures have caused demand to tumble and prevented suppliers from reaching customers. The damage is not universal. Food is still getting through, Apple insists it can still make iPhones and China’s exports have held up so far, buoyed by sales of medical gear. But the overall effect is savage. World goods trade may shrink by 10-30% this year. In the first ten days of May exports from South Korea, a trade powerhouse, fell by 46% year-on-year, probably the worst decline since records began in 1967.

tumble   /ˈtʌmbl/   v
to fall rapidly in value or amount
vi. 摔倒；倒塌；滚动；打滚；仓惶地行动
vt. 使摔倒；使滚翻；弄乱

get through
1> ​to use up a large amount of something
2> ​to manage to do or complete something   

hold up   举起；阻挡；拦截
1> ​to remain strong and working effectively
2>  ​to support somebody/something and stop them from falling
3>  ​to delay or block the movement or progress of somebody/something

buoy   /bɔɪ/   v
1> buoy somebody (up) to make somebody feel cheerful or confident
2> ​buoy somebody/something (up) to keep somebody/something floating on water
3> ​buoy something (up) to keep prices at a high or acceptable level
n. 浮标，航标；救生圈
v. （使）浮起；（使）振奋；（使）价格上浮；为……设浮标

gear /ɡɪə(r)/  
[u] the equipment or clothing needed for a particular activity

China’s exports have held up so far, buoyed by sales of medical gear
中国的出口额因医疗设备的出口保持坚挺

powerhouse
A powerhouse is a person, country, or organization that has a lot of power or influence. 权威人士; 强国; 权势集团

4 The underlying anarchy of global governance is being exposed. France and Britain have squabbled over quarantine rules, China is threatening Australia with punitive tariffs for demanding an investigation into the virus’s origins and the White House remains on the warpath about trade. Despite some instances of co-operation during the pandemic, such as the Federal Reserve’s loans to other central banks, America has been reluctant to act as the world’s leader. Chaos and division at home have damaged its prestige. China’s secrecy and bullying have confirmed that it is unwilling—and unfit—to pick up the mantle. Around the world, public opinion is shifting away from globalisation. People have been disturbed to find that their health depends on a brawl to import protective equipment and on the migrant workers who work in care homes and harvest crops.

underlying anarchy
全球治理处于无政府状态正在被暴露
underlying [ˌʌndəˈlaɪɪŋ]
adj. 潜在的；根本的；在下面的；优先的

squabble [ˈskwɒbl]   =bicker
squabble (with somebody) (about/over something) 
to argue noisily about something that is not very important
v. （为琐事）发生口角，大声争吵

punitive  /ˈpjuːnətɪv/
​intended as punishment

instance   /ˈɪnstəns/
a particular example or case of something

 prestige   /preˈstiːʒ/  = status
the respect and value that somebody/something has because of their social position, or what they have done
Chaos and division   混乱和分裂

bully
to frighten or hurt a weaker person; to use your strength or power to make somebody do something
mantle  /ˈmæntl/ 
n.覆盖物; 责任，职责; 披风; 斗篷;   v.覆盖；遮盖;
1> the mantle of somebody/something 
(literary) the role and responsibilities of an important person or job, especially when they are passed on from one person to another
2>  A mantle is a piece of clothing without sleeves that people used to wear over their other clothes in former times.
3>  [c] (literary) a layer of something that covers a surface

shifting away   背道而驰

brawl  打群架，斗殴
/brɔːl/  
​a noisy and violent fight involving a group of people, usually in a public place

care homes and harvest crops.  养老院，农业

5 This is just the start. Although the flow of information is largely free outside China, the movement of people, goods and capital is not. Consider people first. The Trump administration is proposing to curtail immigration further, arguing that jobs should go to Americans instead. Other countries are likely to follow. Travel is restricted, limiting the scope to find work, inspect plants and drum up orders. Some 90% of people live in countries with largely closed borders. Many governments will open up only to countries with similar health protocols: one such “travel bubble” is mooted to include Australia and New Zealand and, perhaps, Taiwan and Singapore (see article). The industry is signalling that the disruption to travel will be lasting. Airbus has cut production by a third and Emirates, a symbol of globalisation, expects no recovery until 2022.

curtail  /kɜːˈteɪl/  
to limit something or make it last for a shorter time

arguing 认为

inspect plants and drum up orders  视察工厂 招揽订单

Some 90% of people
some+数字 大约
some在这里是作为副词使用，放在数词前起修饰作用，表示大约、差不多的意思，意同approximately

protocol   /ˈprəʊtəkɒl/  协议
[u] a system of fixed rules and formal behaviour used at official meetings, usually between governments

moot  商讨
suggest sth for discussion

travel bubble  开放双向旅游——“旅游气泡”

 disruption  中断——停摆

 Emirates 阿联酋航空公司

6 Trade will suffer as countries abandon the idea that firms and goods are treated equally regardless of where they come from. Governments and central banks are asking taxpayers to underwrite national firms through their stimulus packages, creating a huge and ongoing incentive to favour them. And the push to bring supply chains back home in the name of resilience is accelerating. On May 12th Narendra Modi, India’s prime minister, told the nation that a new era of economic self-reliance has begun. Japan’s covid-19 stimulus includes subsidies for firms that repatriate factories; European Union officials talk of “strategic autonomy” and are creating a fund to buy stakes in firms. America is urging Intel to build plants at home. Digital trade is thriving but its scale is still modest. The sales abroad of Amazon, Apple, Facebook and Microsoft are equivalent to just 1.3% of world exports.

underwrite = invent 认购
If an institution or company underwrites an activity or underwrites the cost of it, they agree to provide any money that is needed to cover losses or buy special equipment, often for an agreed fee.
VERB(机构或公司)为…保险，负担…的费用，承销 
(按商定的价格)认购(某公司)的全部剩余证券;包销(证券)

national firms  国有企业

 stimulus packages  一揽子刺激计划
 to favour them.   偏袒（promote over anothr)
favor
1>  prefer 
2>  to treat one person, group or organization better than you treat others, especially in an unfair way
3>  to provide suitable conditions for a particular person, group, etc.
4>  to look like one of your parents or older relations

resilience /rɪˈzɪliəns/  = recovery
the ability of people or things to recover quickly after something unpleasant, such as shock, injury, etc.

repatriate  撤侨；在外国的本国资金回撤
/ˌriːˈpætrieɪt/
1>  (formal) to send or bring somebody back to their own country
2> (business) to send money or profits back to your own country  

strategic autonomy  战略自治
autonomy  /ɔːˈtɒnəmi/  = independence
the freedom for a country, a region or an organization to govern itself independently

7 The flow of capital is also suffering, as long-term investment sinks. Chinese venture-capital investment in America dropped to $400m in the first quarter of this year, 60% below its level two years ago. Multinational firms may cut their cross-border investment by a third this year. America has just instructed its main federal pension fund to stop buying Chinese shares, and so far this year countries representing 59% of world gdp have tightened their rules on foreign investment. As governments try to pay down their new debts by taxing firms and investors, some countries may be tempted to further restrict the flow of capital across borders.

federal pension fund 联邦养老基金

pay down 
to reduce an amount of money that you owe by paying some of it

It’s lonely out there

8 Don’t be fooled that a trading system with an unstable web of national controls will be more humane or safer. Poorer countries will find it harder to catch up and, in the rich world, life will be more expensive and less free. The way to make supply chains more resilient is not to domesticate them, which concentrates risk and forfeits economies of scale, but to diversify them. Moreover, a fractured world will make solving global problems harder, including finding a vaccine and securing an economic recovery.

humane  人性化

resilient /rɪˈzɪliənt/  弹性化
1>  able to recover quickly after something unpleasant such as shock, injury, etc.
2>  (of a substance) returning to its original shape after being bent, stretched, or pressed

domesticate  本土化

forfeit 丧失
1> to lose something or have something taken away from you because you have done something wrong
2>  ​forfeit something to lose or give something up as a necessary consequence of something that you have done
v. （因犯罪、失职、违约等）丧失（权利、名誉、生命等）

economies of scale  规模经济

fractured   /ˈfræktʃəd/
1>  broken or cracked (= damaged but not completely broken)
2> (formal) (of a society, an organization, etc.) split into several parts so that it no longer functions or exists

9 Tragically, this logic is no longer fashionable. Those three body-blows have so wounded the open system of trade that the powerful arguments in its favour are being neglected. Wave goodbye to the greatest era of globalisation—and worry about what is going to take its place.■