经济学人精读节选100篇Why global GDP might be $7trn bigger than everyone thought 为什么全球GDP可能比大家想象的要高出7万亿美元
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本期选文来源：The Economist|June 8th 2024 ，需要经济学人原版PDF|全文中英翻译|MP3|大家下拉至文末下载|也可以自助开通本站会员后加入专属QQ社群或下拉至文末获取全文文档PDF中英翻译PDF,MOBI,EPUB,AZW3,MP3🎵等多种格式。
Why global GDP might be $7trn bigger than everyone thought
为什么全球GDP可能比大家想象的要高出7万亿美元
【导读】The discovery has perturbed **officials。这一发现令一些官员感到不安。
【1】MANY PEOPLE have experienced the joy of finding some spare change down the back of the sofa. On May 30th the World Bank experienced something similar, if on a grander scale. After rooting around in 176 countries, it discovered almost $7trn in extra global GDP—equivalent to an extra France and a Mexico.
单词解析：grander：adj.宏大的；宏伟的；(用于大建筑物等的名称)大；壮丽的；重大的；堂皇的；有气派的 grand的比较级
例句：Never had he seen a grander sight. 他从未见过如此壮丽的景色。
【2】In fact, there may be a better analogy. What the World Bank discovered was not additional money to spend, but the equivalent of a discount voucher, which cuts 4% off the price of every good and service the world buys in a year. That means global spending can stretch further than previously thought.
单词解析：previously：adv. 先前；(一段时间)以前
例句：Previously she had very little time to work in her own garden. 以前，她没什么时间打理自己的花园。
【3】To understand why, it helps to carry out a thought experiment. Imagine that the many countries of the world all produced only one thing: Big Macs. In calculating the GDP of these economies, their national accountants would use market prices. America might, for example, value Big Macs at $5.69 each (the average price across big American cities, according to McDonald’s). If it produced a hundred in a period of time, its GDP would be $569. In adding up the size of the world economy, it would make sense to use the same prices in all countries. If a rival economy produced 125 burgers, its measured GDP should be 25% higher.
单词解析：burger：n. (汉堡牛肉式的)鱼松饼，菜末饼，果仁饼
例句：The children demolished their burgers and chips. 孩子们狼吞虎咽地吃了汉堡包和炸土豆条。
【4】Unfortunately, that is not how these calculations often work. America’s national accountants value the country’s Big Macs at American prices. China’s value theirs at the yuan price prevailing in their economy, which is around 25 yuan. When making international comparisons, China’s GDP is then converted into dollars using the market exchange rate of roughly 7.2 yuan to the dollar. The result is that China’s Big Macs are valued at only $3.47 in calculations of global GDP and not $5.69. Even if China and America produced the same number of Big Macs a year, China’s output would seem almost 40% smaller by conventional measures.
单词解析：conventional ：adj.常规的；传统的；习惯的；墨守成规的；依照惯例的；非核的；普通平凡的
例句：She’s very conventional in her views. 她的观点很守旧。
【5】There is an obvious solution: ignore the currency markets and look at prices instead. If the yuan price of a Big Mac is roughly four times the dollar price, why not use that as the exchange rate? If China’s GDP were converted into dollars at 4.39 yuan to the dollar, its Big Macs would have the same value as America’s. These alternative exchange rates, which equalise the prices of goods and services, are known as purchasing-power parities, or PPPs.
单词解析：currency：n.货币；通货；通用；流行；流传
例句：Send € 20 or the equivalent in your own currency.寄20欧元或等值的贵国货币。
【6】Owing to this newspaper’s long-running Big Mac index, we can calculate parities for McDonald’s burgers. But they are only one product, however tasty, in the cornucopia of global capitalism. To carry out a similar adjustment across national economies, it would be necessary to collect the price of hundreds of goods and services in different places around the world.
单词解析：cornucopia：n.丰富；丰饶；丰饶角
例句：In fact, his symbol is the cornucopia. 实际上，他的象征是丰饶之角。
【7】Every few years, the World Bank leads an initiative to do just that. The International Comparison Programme, as it is called, has just concluded its latest effort, the tenth in the past 56 years. It gathered the prices of hundreds of items across 176 countries, taking care to look at similar products in each place. Within China alone teams consulted about 16,000 shops and other outlets. The exercise is not without its difficulties, both practical and conceptual. Not every good is as standardised as a Big Mac, making like-for-like comparisons a matter of judgment. And often the same consumer need is met by different goods in different parts of the world. In rural Thailand, workers live on rice. In similar parts of Ethiopia, they live on teff. But “rice is hard to find in Ethiopia and teff is impossible to find in Thailand, so price comparisons are not possible,” as Angus Deaton of Princeton University and Alan Heston of the University of Pennsylvania have pointed out.
单词解析：conceptual：adj.概念(上)的；观念(上)的
例句：No sculpture or conceptual art was included. 雕塑或概念艺术并不包括在内。
【8】Nonetheless, when the programme completed its work, it discovered that prices around the world were, on average, about 4% cheaper than previously thought, which meant the spending recorded by the world’s national accountants must have bought more stuff than previously guessed. The World Bank now calculates that global spending, across all countries and in a variety of currencies, had a purchasing power of $174trn in 2022. That is almost $7trn more than its prior estimate for the same year, which had drawn on the results of the previous comparison programme a few years ago, updated with national inflation rates.
单词解析：estimate：v.估计；估算；估价
例句：That estimate was right on the mark.那个估计分毫不差。
【9】This extra buying power is not evenly distributed. Almost $1.1trn of it was found in India, which is comfortably the third-biggest economy in the world by the PPP measure. The revisions also added $660bn to Russia’s economy, making it bigger than Japan’s. That is unwelcome news for Ukraine, which is fighting a costly war with its larger neighbour. But the embattled country can draw consolation from the extra $118bn that the revisions bestowed on it, increasing its purchasing power by more than a quarter.
单词解析：bestowed：v.(将…)给予，授予，献给
例句：It was a title bestowed upon him by the king.那是国王赐给他的头衔。
【10】The largest chunk of extra spending power—$1.4trn—accrued to China. The boost means its economy was 25% bigger than America’s in 2022, if similar items are valued at similar prices. Using market exchange rates, by contrast, China’s GDP was still almost 30% smaller. China’s officials did not seem thrilled. “We need to interpret the…results with caution and correctly grasp the global economic landscape and the status of each economy in it,” said the country’s statistical association. It stressed that the data were not “official” and that China was still a developing country.
单词解析：landscape：风景
例句：The landscape seemed to stretch into infinity.风景似乎延伸到了无穷远处。
【11】Indeed, even with the additional purchasing power, China’s GDP per person is mediocre, ranking 85th in the world and remaining firmly in line with the world average. Since China’s saving rate is so high, its consumer spending ranks even lower. According to the World Bank, individual consumption came to less than $9,300 in 2021, compared with a global average of $12,950. China’s figure, adjusted for purchasing power, remains lower than equivalent spending in South Africa or Peru. There is no point finding lost change down the sofa if you just stuff it under the mattress.
单词解析： equivalent：adj.(价值、数量、意义、重要性等)相同的；相等的 n.等量；对应词；相等的东西
例句：Send € 20 or the equivalent in your own currency. 寄20欧元或等值的贵国货币。
长难句分析：
1）原文：Almost $1.1trn of it was found in India, which is comfortably the third-biggest economy in the world by the PPP measure.
2）解析：
Almost $1.1trn (of it)（后置定语） was found [in India, (which is [comfortably] the third-biggest economy [in the world] [by the PPP measure])].（状语）
2）句子语法结构详解：
* found 为谓语，采用一般过去时和被动语态。
* which 为关系代词，引导非限制性定语从句。
* is 为系动词作谓语，采用一般现在时。
* was 为助动词。the 为定冠词。
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