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during 1991 as recession gripped Canada, the United Kingdom, and the United States and growth rates slowed in Continental Europe and Japan. In important respects, the slowdown was different from those that occurred during the 1970s and 1980s. 1991年,在發(fā)展中國家增長惡化的國際情形下,七個主要工業(yè)國的國內(nèi)生產(chǎn)總值經(jīng)歷了一個急劇的下滑,從 1990年的 %下降到 1991年的 %,像加拿大、美國、英國陷入了蕭條,歐洲大陸和日本增長率減緩。這個減速與發(fā)生在 20世紀 70年代和80年代的不同。 2. Rather than reflecting the effect of disinflationary policies, weakness in demand was more closely related to the loss of momentum that had built up during the long period of expansion that began in 1983. In addition, a mon factor underlying the slowdown in many industrial countries was the cyclical deceleration in investment spending. 并不是反通貨膨脹政策的結(jié)果,需求的疲軟大多與發(fā)展勢頭的喪失緊密相關(guān),這個勢頭開始于 1983年,在長期擴充中已經(jīng)形成。此外,在許多工業(yè)國減速的一個普遍的根本因素是投資開支的周期性。 3. Although the weakness in demand in the United States led to a sharp decline in shortterm dollar interest rates—a positive development for many