金融英语
2009-1
上海科学技术文献出版社
胡志勇 编
269
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中国加入WTO之后，国际金融越来越成为经济生活中一个不可或缺的部分。国际金融．也不再只是专业从事国际金融业务人士、或者只是理论研究者所关注的问题，而是变成了平民百姓所关注的问题。 本书系《实用职业英语》系列丛书之一，在编写结构上，以WTO作为讨论的中心，围绕此中心展开，介绍当前国际金融以及WTO的概况，将WTO的介绍与国际金融的发展相结合。本书分为三个部分：银行货币金融、宏观汇率国际金融和微观投资财务金融。以最新实用的英语材料为基础编写；以讲解分析专业英语为主，突出解析本学科的重点、难点、疑点问题；以拓宽读者知识面、迅速提高其专业英语水平为目标；以实际应用为宗旨，简化语法点，系统介绍本专业相关的背景知识；为了保持所选材料的客观性，从网上或原版英语图书中选编，但为了避免版权纠纷，编者对所选材料进行了适当的补充与删改。 本书在结构上面，一共有18个单元。 首先在1单元中，介绍金融的总体概况与历史，以便读者对于金融有一个整体的了解，把握整本教材的脉络与思路。 在第一部分银行货币金融中（2～4单元），介绍货币的历史；介绍利率、货币的类型MO、M1、M2等等；介绍中央银行与商业银行之间的关系、历史与作用；介绍世界银行、亚洲开发银行等国际货币市场，以及国际借贷。 然后第二部分宏观汇率国际金融中（5～11单元），介绍汇率报表、汇率与国际竞争力；介绍国际收支平衡表的结构与分析；介绍国际储备的意义与作用；介绍国际货币基金组织与国际货币体系；介绍外汇市场、欧洲货币市场；介绍远期外汇、外汇期货、外汇期权。第三部分微观投资财务金融（12～18单元），介绍公司金融、风险与价值，包括投资、融资、股息等决策；介绍会计与财务分析及基本原理；介绍债券与股票市场、股票与股票市场、共同基金；介绍保险；介绍接管、兼并、买下。
IntroductionPrefaceUnit 1 Overview of FinanceUnit 2 Money and Interest RatesUnit 3 Commercial Banks and Monetary MarketUnit 4 Central Bank and Monetary PolicyUnit 5 World Bank and International Monetary MarketUnit 6 Balance of PaymentUnit 7 Exchange Rate and ReserveUnit 8 International Monetary FundUnit 9 International Monetary SystemUnit 10 International Financial MarketUnit 11 Currency Forwards and the Futures Markets, Foreign Exchange OptionsUnit 12 Corporate Finance,Risk and ValuationUnit 13 Accounting and Financial StatementsUnit 14 Bonds and Bond MarketUnit 15 Stocks and Shares, Stock MarketUnit 16 Mutual FundUnit 17 InsuranceUnit 18 Takeovers, Mergers and Buyouts
The Bretton Woods system broke down because the dynamics of supply， demand，and prices in a nation affect the true value of its currency， regardless of fixed rate schemes or pegging policies. When those dynamics are not reflected in the foreign exchange value of the currency， the currency becomes overvalued or undervalued in terms of other currencies. Its price —— fixed or otherwise —— becomes too high or too low，given the economic fundamentals of the nation and the dynamics of supply， demand， and prices. When this occurs， the flows of international trade and payments are distorted. In the 1960s， rising costs in the United States made U.S. exports uncompetitive. At the same time， western Europe and Japan emerged from the wreckage of World War 11 to become productive economies that could compete with the United States. As a result，the US dollar became overvalued under the fixed exchange rate system. This caused a drain on the U.S. gold supply， because foreigners preferred to hold gold rather than overvalued dollars. By 1970， U.S. gold reserves decreased to about $10 billion， a drop of more than 50 percent from the peak of $24 billion in 1949. In 1971， the U.S. decided to let the dollar float against other currencies so it could find its proper value and imbalances in trade and international funds flows could be corrected. This indeed occurred and evolved into the managed float system of today. A nation manages the value of its currency by buying or selling it on the foreign exchange market. If a nations central bank buys its currency， the supply of that currency decreases and the supply of other currencies increases relative to it. This increases the value of its currency. On the other hand， if a nations central bank sells its currency， the supply of that currency on the market increases， and the supply of other currencies decreases relative to it. This decreases the value of its currency. The International Monetary Fund plays a key role in operations that help a nation manage the value of its currency. The International Monetary Fund （IMF） is like a central bank for the worlds central banks. It is headquartered in Washington， D.C.， has 184 member nations， and cooperates closely with the World Bank， which we discuss in The Global Market and Developing Nations. The IMF has a board of governors consisting of one representative from each member nation. The board of governors elects a 20-member executive board to conduct regular operations.
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