明星资讯腾讯娱乐2019年10月20日 09:13:37
Syriza is as radical as any party to take power within the eurozone. Hardly any of Greece’s new cabinet have experience of government; predictably, its first week was studded with chaotic interventions, including a clumsy blunder into EU-Russian relations.希腊激进左翼联盟(Syriza)与欧元区任何掌权的政党一样激进。希腊新内阁成员几乎都没有政府治理的经验;不出所料,其执政第一周就满是混乱的干预措施,包括稀里糊涂地闯入俄欧关系问题之中。Syriza’s rhetoric is still more suited to a university seminar than a serious programme of government.希腊激进左翼联盟的说辞依旧更适合一场大学研讨会,而非一项严肃的政府计划。To some on Europe’s northern fringe, just to meet Syriza is to crumble before blackmail. If you believe half of his past rhetoric, its leader Alexis Tsipras plans to dance wildly on the crumbling edge of the eurozone, to scare its thriftier members into accepting his demands. These would include debt repudiation, the unravelling of structural reforms, and rehiring thousands more civil servants. On this account Syriza would return Greece to the failed clientelism of the past and embolden anti-austerity parties everywhere.对于欧洲北部边缘的一些国家来说,满足希腊激进左翼联盟就等于在勒索面前屈。如果你对该党领导人亚历克西斯#8226;齐普拉斯(Alexis Tsipras)过去说的话将信将疑,那么他现在的计划是在摇摇欲坠的欧元区边缘疯狂乱舞,以恐吓欧元区较节俭的成员国接受他的要求。这些要求将包括拒付债务、放弃结构性改革,以及重新增加数千名公务员。以此,希腊激进左翼联盟将使希腊回到过去失败了的裙带主义,并鼓舞各地反紧缩的政党。Many EU leaders would rather take their chances with “Grexit” than cave in to threats, even if this risked a deeper eurozone recession. But as Yanis Varoufakis tours European capitals to win support for a new deal, Greece’s finance minister deserves a full and even sympathetic hearing.许多欧盟国家领导人宁愿在希腊退出欧元区问题上碰碰运气,也不愿对威胁屈,即使这样做面临加剧欧元区衰退的风险。但随着亚尼斯#8226;瓦鲁法基斯(Yanis Varoufakis)访问欧洲各国以便赢得对新协议的持,这位希腊财长值得我们全面甚至抱以同情地去倾听。Syriza’s ascent to power highlights the reality that although the debate about Greece is couched in highly technocratic language, it is in essence thoroughly political. Most Greek debts are owed to other EU states. It is their governments that would carry the consequences of Greece defaulting or leaving the eurozone. This provides the best rationale for Mr Varoufakis’ refusal to deal with the “troika” of the European Central Bank, European Commission and IMF, and instead talk directly to national politicians.希腊激进左翼联盟的掌权凸显了当前现实,尽管围绕希腊的辩论都是高度的技术官僚语言,但它本质上完全是政治性的。希腊大多数债务都是欠其他欧盟国家的。这些国家的政府将承担希腊违约或者退出欧元区的后果。这为瓦鲁法基斯拒绝与“三驾马车”(troika)——欧洲央行(ECB)、欧盟委员会(European Commission)以及国际货币基金组织(IMF)——打交道,而与各国领导人直接磋商供了最好的理由。He may also be right to query the technical expertise of the troika. The IMF has aly admitted to having been too optimistic about Greek growth. More debt should have been restructured. The impressive progress made towards cutting Greece’s fiscal and trade deficits is mostly an automatic consequence of the collapse in domestic demand and living standards that brought Syriza to power.他对三驾马车专业技术的质疑或许也是对的。IMF已经承认,之前对希腊经济增长过于乐观。本该已对更多的债务进行重组。希腊在削减财政和贸易赤字上取得的明显进展,基本上是国内需求崩溃和生活水平下降的自然结果——而正是内需和生活水平的下降致使希腊激进左翼联盟上台。Moreover, what merit there may be in the troika’s emphasis on “structural reform” has proven patchy in implementation. Greece certainly has too many over-regulated industries and outdated practices, and a long tradition of overmanning the public sector. It was right to assume that Greek governments would need external impetus to change, and its creditors are quite entitled to resist the reversal of reform that Syriza has called for.此外,三驾马车所强调的“结构性改革”的优点在实施中已被明差强人意。希腊的确有太多过度监管的行业和过时的做法,以及公共部门人员冗余的长期传统。这样的假设是正确的:希腊政府需要外部动力推动变革,而其债权人也有权抵制希腊激进左翼联盟所呼吁的逆向改革。But what matters more to the reform of the economy is the continuing dominance of an oligarchic class. This includes a banking sector with over 40 per cent of loans non-performing, which drags on the rest of industry. A vigorous recovery may require a thorough banking recapitalisation that converts debt into equity and replaces current management. Under the tutelage of the troika, very little was achieved in confronting the oligarchs, or on tackling endemic tax avoidance. Syriza should be able to make more progress, simply because it has not yet acquired the deep ties with wealthy interests that bind the traditional parties.但是,对希腊经济改革影响更大的是寡头阶层持续的统治地位。这包括不良贷款超过40%、并拖累其他行业的业。经济强劲复苏可能需要一次彻底的资本重组,将债务转化为股本并替换现有的管理层。在三驾马车的指导下,希腊在对付寡头或解决大范围避税方面鲜有成绩。希腊激进左翼联盟应该能有更大的作为,因为它尚未与那些将传统政党捆绑在一起的富人利益集团结下深厚的关系。A fresh look at Greece’s predicament argues for co-operation on both sides. There, Syriza needs allies if it is to take on the oligarchs, restructure its banks and develop a modern system of tax collection. Its European partners must recognise that this is not a simple creditor-debtor relationship in which a concession to one side is a loss to the other. At 175 per cent of gross domestic product, Greece’s debt burden is too high for normal repayment and can be worked off only if the country enjoys sustained growth. The EU is massively invested in Greece. Its negotiating stance must make growth the top priority.重新审视希腊的困境,我们认为双方应该合作。在这一点上,希腊激进左翼联盟需要盟友来对付寡头、重组并建立现代税收制度。其欧洲伙伴必须认识到,双方之间并非一种简单的债权债务关系——向对方让步即是自身损失。高达国内生产总值(GDP)的175%的债务负担使希腊无法正常还款。只有希腊经济保持持续增长,这些债务才可能逐渐偿清。欧盟国家在希腊有大量投资,它们的谈判立场必须将增长放在首位。This points towards linking debt repayment to Greek GDP. As well as providing Athens with the breathing space needed for reforms to take effect, such instruments explicitly align EU incentives with those in Greece. With a fair wind the creditors may even garner a higher return over the long run.这指向将偿还债务与希腊GDP挂钩。这些措施除了向雅典方面提供让改革起作用所需的喘息空间,还可以明确地将欧盟与希腊的积极性协调起来。顺利的话,长远来看债权人甚至可能获得更高的回报。Some of Syriza’s other ideas are barmy. The reason EU member states should talk with Messrs Tsipras and Varoufakis is that within its idealistic platform may be enough sensible radicalism to sketch out the outlines of a deal. If Syriza can be helped towards implementing the good parts and shelving the bad, Greece may have a brighter future.希腊激进左翼联盟的一些其他想法是愚蠢的。欧盟成员国应该跟齐普拉斯和瓦鲁法基斯谈判的理由是,在其理想主义的政纲内可能存在足够的理性激进主义,从而能够勾勒出一项交易的轮廓。如果希腊激进左翼联盟能够在外界的帮助下兴利除弊,希腊或会拥有一个更光明的未来。 /201502/358425

The posters plastered on walls in the isolated village of Donggaozhuang, in China’s northeastern Hebei province, do not extol the usual communist ideals of social harmony or party loyalty.在中国河北省的偏远村庄东高庄,墙上贴的海报并没有歌颂社会和谐或者忠诚于党之类常见的共产党理想价值观。Instead, they promise to reveal the secret to becoming an ecommerce millionaire and to help the town’s residents “reach your dreams of fortune”.相反,它们承诺传授成为电商富翁的秘诀,帮助村庄的居民“实现发财梦”。Donggaozhuang is just one of a dozen of so-called ‘Taobao villages’ across China – rural townships transformed by the possibility of reaching millions of potential customers with the click of a mouse, often on Taobao, the Alibaba-owned site.东高庄不过是中国各地十几个所谓的“淘宝村”之一。只需点击鼠标,便可接触到成百上千万潜在客户,这样的机遇改变了它们。它们往往以阿里巴巴(Alibaba)旗下的淘宝网为电子商务平台。“You don’t need to go anywhere, all you need is a computer and a network cable, you can search all the customers in the whole country,” says Liu Yuguo, a resident of the village and the owner of a growing online cashmere store.“哪儿都不用去,只要有电脑和网线,就可以寻找全国的顾客了,”村民刘玉国(音)说。他经营羊绒的网店越做越大。Instead of enduring a life of back-breaking work in fields for a meagre monthly income, or choosing to become migrant workers in far away coastal areas, peasants and their families in Donggaozhuang are opening online businesses selling Inner Mongolian cashmere to fashion-conscious web shoppers.东高庄的农民和家人既不用在田间辛苦劳动,挣得微薄的收入,也不用选择去遥远的沿海地区打工,而是办起了网店,向有时尚意识的网上顾客销售内蒙古羊绒。At the centre of this transformation is Alibaba, the Hangzhou-based company that controls 80 per cent of ecommerce in China and is set to be valued at more than 0bn when it becomes publicly listed this year.变革的中心是阿里巴巴。这家总部位于杭州的公司控制着中国80%的电商业务,它拟在今年上市,估值将超过1000亿美元。On Alibaba’s ecommerce sites alone, the number of online stores from rural areas has increased by nearly 50 per cent since 2012, to more than 1m. Seven out of 10 areas in China where online shopping is growing fastest are in rural, less developed parts of the country, according to Alibaba.光是在阿里巴巴的电商网站上,来自农村地区的网店数量自2012年以来已经增长了近50%,达到100多万家。阿里巴巴表示,在中国网购增长最快的10个地区中,有7个来自较不发达的农村地区。In Donggaozhuang, some villagers have taken this opportunity even further, by hosting online masterclasses for others wanting to cash in on China’s ecommerce boom.在东高庄,一些村民进一步利用机会,为其他希望在中国电商热中赚一笔的人们举办在线讲习班。For Mr Liu, the decision to open an online store in 2007 was an easy one, after various failed attempts to start more traditional businesses.对刘玉国而言,在2007年决定开设网店并不是个艰难的选择——他之前试图创办更加传统的业务,但均告失败。“I would never have this business offline even if I worked my whole life for it,” the 35-year-old former farmer says.“我哪怕辛苦一辈子,也不会在线下拥有这样的生意”,这位35岁的前农民表示。 /201402/276487

Am I coming to the US to engage in prostitution? Do I belong to a clan or tribe? Do I have tuberculosis or infectious leprosy? 我是不是来美国从事卖淫的?我是不是一个宗族或者部落的成员?我有没有患肺结核或者是传染性麻风? I have just renewed my five-year US visitor’s visa after truthfully answering “no” to the above and many other questions. 在给我的五年期美国旅游签续签的时候,我如实地对上述问题以及很多其他问题做出了否定回答。 At the US London embassy the ticket-based queueing system was well organised, there was free coffee, the consular staff who interviewed me were good-humoured and my passport was returned with a fresh visa just three days later. 在伦敦的美国大使馆,人们有序排队,有免费的咖啡,和我面谈的领事馆工作人员态度和蔼,三天之后我就拿到了带有新签的护照。 But as I filled in the application form before my embassy appointment, I wondered what the point was of asking “Do you seek to engage in terrorist activities while in the ed States?” when those who plan to do so will surely click “no”. 但在来大使馆面签之前填写申请表的时候,我真的不知道问“你在美国的时候是否会寻求从事恐怖活动?”这种问题有什么意义,因为那些策划恐怖活动的人肯定会选“否”。 Why are some of the questions so imprecise? For example, on the form I had to fill in (as a journalist, I require a particular type of visa), I was asked if I had ever been responsible as a government official for “particularly severe violations of religious freedom”. What does particularly severe mean? Are mild violations of religious freedom acceptable? 为什么有些问题如此含糊?比如说,在我需要填写的申请表中(作为一名记者,我需要办理特定类别的签),我被问及是否曾经作为政府官员“组织特别严重的违反宗教自由的活动”。“特别严重”是什么意思?轻微违反宗教自由就可以接受吗? Or take an example from the Electronic System for Travel Authorisation (Esta) form that visitors with a US visa waiver complete (this includes tourists from many European and some other countries): “Have you ever been arrested or convicted for an offence or crime involving moral turpitude?” 再来看美国免签游客需要填写的旅游许可电子系统(Esta)表格(面向多个欧洲国家和其他一些国家的游客),上面有一道这样的问题:“你有没有因为道德败坏行为或犯罪而被捕或被判刑?” What is a crime involving moral turpitude? Does agreeing to accept someone else’s speeding points count as moral turpitude when an opinion poll by the AA motoring organisation suggested 300,000 people in the UK had done that? 什么是道德败坏罪?超速之后拿别人的分数顶算不算道德败坏?英国汽车协会(AA)的一项民调显示,英国有30万人都这么做过。 And, finally, how did US visa application forms come to be such a curious agglomeration of questions? 最后,美国签申请表怎么会有这么多奇怪的问题? My first query – whether miscreants are likely to answer incriminating questions truthfully – is one nearly every visa applicant asks. “Clients constantly say: ‘Are you kidding? Does anyone answer ‘yes’?’” says Kehrela Hodkinson, a London-based US immigration lawyer. 我的第一个疑问:邪恶分子有没有可能如实回答关于犯罪的问题?这也是几乎每个签申请者会问的问题。在伦敦工作的美国移民律师科瑞拉#8226;霍德金森(Kehrela Hodkinson)说,客户经常问“你开玩笑吧?鬼才会回答‘是’呢!” It is also the easiest mystery to solve. The point of asking these questions is that, if you answer them untruthfully, you have obtained a visa by fraud or misrepresentation and can be deported if you are found out, either on this visit, or if you subsequently win the right to live in the US. 这个疑问很容易解答。问这些问题的意图在于,如果不如实回答问题,就相当于通过欺骗或者误导获得签,一旦被发现就可能遭到驱逐,不管是在此次旅行中,还是以后获得美国居住权的时候。 My query about the imprecision of some of the questions has a less precise answer. There have been many academic discussions – and even an entire book – on what moral turpitude is. 对一些语义不清晰的问题,我就不能准确地解释了。关于什么是道德败坏,有过很多学术讨论,甚至有一整本书都是讲这个的。 There is no statutory definition of the term. It is up to judges and the Board of Immigration Appeals to decide what it means, Mary Holper of Boston College Law School says in an informative paper. When deciding whether to deport someone, judges have to assess whether the crime in question offends the “moral standards generally prevailing in the ed States”. This, Prof Holper says, “casts judges in the role of God”. 这个词没有法定的定义。波士顿学院法学院(Boston College Law School)的玛丽#8226;霍尔波(Mary Holper)在一篇颇具启发意义的论文中说,它的意思取决于法官和移民上诉委员会(Board of Immigration Appeals)。在决定是否要驱逐某个人的时候,法官必须判断其所犯的罪是否违反了“美国的主流道德标准”。霍尔波教授说,这“让法官扮演了上帝的角色”。 In cases over the years, fraud, theft and many sexual offences have been classed as involving moral turpitude. Assault has been, too, “when the offence has an aggravating factor such as a deadly weapon”, Prof Holper says. 多年来,欺骗、盗窃以及很多性犯罪都被归为道德败坏行为。霍尔波教授说:“如果犯罪过程中有使用致命武器等加重情节的因素,”攻击也算是道德败坏罪。 As for severely restricting religious freedom, the US Commission on International Religious Freedom, a statutory body, says only one person has ever been barred on those grounds: Narendra Modi, tipped by many to be the next Indian prime minister, for his alleged complicity in the deadly 2002 anti-Muslim riots in his home state of Gujarat. (He denies responsibility.) 至于严重限制宗教自由,法定机构美国国际宗教自由委员会(US Commission on International Religious Freedom)指出,到目前只有一个人因为这个原因没被放行,他就是很多人认为有望出任下一届印度总理的纳伦德拉#8226;莫迪(Narendra Modi),原因是他被控参与了2002年在他的家乡古吉拉特邦爆发的反穆斯林严重骚乱(他对此表示否认)。 The reason US visa forms seem such an odd accretion of questions is that is what they are. They have been added to over the decades to confront whatever danger the US was dealing with at the time. 美国签申请表之所以看起来像是很多奇怪的问题堆积而成的,原因就是它们本来就是这样的。这些问题几十年来不断累积增多,以应对美国在各个时期面临的风险。 Prof Holper points out that “moral turpitude” was introduced into US immigration law in 1891. Questions about issues such as prostitution go back to before visas existed, as do many health questions. Officials at Ellis Island used to keep visitors out because they had tuberculosis, says Muzaffar Chishti of the US-based Migration Policy Institute. 霍尔波教授指出,“道德败坏”是1891年引入美国移民法的。关于卖淫等一些方面的问题在签存在之前就有了,很多健康方面的问题也是如此。美国移民政策研究所(Migration Policy Institute)的穆扎法尔#8226;齐矢堤(Muzaffar Chishti)说,埃利斯岛(Ellis Island,原美国移民局所在地)的官员曾拒绝有结核病的游客进入。 Are the visa forms an effective way of keeping undesirables out of the US? “If we’re interested in keeping people who mean to do us harm out, it’s not very effective,” Mr Chishti says. Biometric screening, databases and finger printing are far more useful, he says. 签申请表是不是将不良分子拒于美国之外的一种有效方式呢?齐矢堤说:“如果我们不想让有意伤害我们的人进入美国,这种方式就不是很有效。”他认为,生物筛选、数据库以及指纹图谱要有用得多。 /201312/268160

  China#39;s southern province of Guangdong was the first beneficiary of Beijing#39;s policy of opening up the economy to the outside world, becoming an export powerhouse and a magnet for foreign investment. It was also among the first local governments given a chance to issue bonds on its own -- without Beijing holding its hand -- as part of the central government#39;s plan to expand the financing channels of better-managed provinces and cities.地处中国南方的广东省是中国改革开放政策的首个受益者,并逐渐成为一个重要的出口基地和吸引外商投资的磁石。广东也是首批获准在不依靠中央的情况下自主发债的地方政府之一,这是中央为治理较好的省市扩大融资渠道的方案之一。But a credit rating report on Guangdong shows that even this relatively well-to-do province is heavily dependent on land and property sales, and that could make it vulnerable to financial stress in the current real-estate market downturn.但一份对广东的信用评级报告显示,尽管是个相对富裕的省份,广东也严重依赖土地出让和房地产销售,在当前房地产市场低迷的情况下,可能很容易面临金融压力。The credit report, issued by Shanghai Brilliance Credit Rating amp; Investors Service Co., was released publicly on Tuesday thanks to the requirement that local governments need to make their financial position transparent before they can sell bonds. The financial data show that in 2012 -- the most recent year for which full figures are available -- more than half of the province#39;s revenue came from land sales. Moreover, that relatively high dependence was actually below the national average.由于有关规定要求地方政府在发行债券前必须公示地方财政状况,上海新世纪资信评估投资务有限公司(Shanghai Brilliance Credit Rating amp; Investors Service Co., 简称:上海新世纪)的这份信用评级报告在周二得以公开发布。财政数据显示,2012年(有完整数据可供参考的最近年份)广东省财政收入的一半以上来自土地出让;不过,这种较高的依赖程度实际上低于全国平均水平。Most local governments still rely on the central government to issue debt on their behalf. But Guangdong is one of the privileged few that can issue bonds directly, and it plans to sell 14.8 billion yuan (.4 billion) worth of debt this year.目前,中国的多数地方政府仍依靠中央代为发行债券。但广东是享有直接发行地方债特权的为数不多的地方政府之一。广东省计划今年发行价值人民币148亿元的债券。Shanghai Briliance gave Guangdong an overall rating of AAA, the highest level possible, reflecting what it said was the province#39;s stable economic and fiscal conditions.上海新世纪将广东省的总体信用评级定为AAA,这是评级体系中的最高等级,理由是广东省的经济和财政状况稳定。Guangdong has become a center of light industry, has a healthy service sector and boasts relatively high incomes. That gives it a comparatively diversified income stream -- at least compared to other parts of the country.广东已成为中国的轻工业中心,拥有健全的务业,而且收入水平较高。这为广东提供了相当多元化的收入来源,至少相对于国内其他地区而言。But there are plenty of concerns of potential repayment problems, as Shanghai Brilliance made clear. The provincial government is still dependent on land sales for income and it has made heavy investments in property as the real-estate market is heading south.但上海新世纪明确指出,广东的潜在还款问题也颇令人担忧。眼下在房地产市场下滑之际,广东省政府仍依靠土地出让获取财政收入,而且已对房地产进行了大量投资。In good times, a red-hot property market has boosted the provincial government#39;s income and enabled higher spending levels, the rating firm said.新世纪评级称,当房地产行业繁荣时,广东省的政府性基金收入和出均相应有所增长。In 2013, when home sales were up 40%, Guangdong#39;s government revenue surged 62% over the previous year while spending climbed 55%, the rating firm said. About 35% of the province#39;s fixed-asset investment went to the property market in 2013, compared with 27% in the manufacturing sector.该评级机构称,2013年,广东省商品房销售额增长40%,该省的政府性基金收入和出分别同比增长62%和55%。2013年,该省大约35%的固定资产投资进入了房地产市场,相比之下,进入制造业的比重为27%。That compares with real-estate taking 25% of total fixed-asset investment for all of China last year, according to J.P. Morgan economist Zhu Haibin.根大通(J.P. Morgan)经济学家朱海滨称,去年中国房地产业的投资占全国固定资产投资总额的比例为25%。With the property market cooling as a result of increased supply and weaker demand amid an economic slowdown, the provincial government could see trouble down the road.由于在经济增速下降的背景下,房地产市场供应增加,同时需求下降,中国的房地产市场出现降温,这也可能在未来给广东省政府带来麻烦。#39;Guangzhou#39;s economic growth has a definite reliance on the property market,#39; the rating company said. #39;Fluctuations in the property and land markets will affect government income.#39;新世纪评级称,广东省经济增长对房地产市场具有一定的依赖性,并表示,该省房地产市场和土地市场将对该省政府性基金收入将产生一定影响。The average price of new homes in 70 Chinese cities declined in May from April, the first such drop in two years, as property developers cut prices to offset sluggish demand and a supply glut.中国70个大中城市5月份的新建住宅平均房价环比下降,为两年来的首次环比下降,这主要是由于在需求低迷及供应过剩情况下,房地产开发商纷纷降价促销。Like the rest of the country, the province#39;s property market is struggling this year. Average new home prices in Guangzhou, the provincial capital, were unchanged in May from April, but for Shenzhen, China#39;s manufacturing hub, prices were down 0.2% month-on-month.与中国其他地区一样,广东省的房地产市场今年也遭遇困境。广州5月份的新建住宅均价较4月份持平,但深圳当月的新建住宅均价较4月份下降0.2%。Thanks to the bond sales, investors are getting a peek at local-level financial records, which normally would be hidden from the public.投资者借地方政府发债的机会得以查看地方政府的财政状况,通常情况下地方财政状况不会公开。It#39;s hard to say whether the investing public will snap up the Guangdong bonds -- or shy away due to worries over the province#39;s ability to repay. But the credit report makes clear that the health of the property sector is closely tied to the health of Guangdong#39;s finances. And if one of the better managed provinces is facing repayment risk -- the risk for other areas is certainly even greater.目前还很难说投资者是会购买广东省的政府债,还是会因为担心该省的偿还能力而回避该省的地方债。但这份报告清楚地表明,广东省的财政状况与房地产市场的健康状况休戚相关。如果连财政状况管理相对较好的一个省份都面临偿付风险,中国其他地区的偿付风险无疑就更大了。 /201406/307963



  Where has all the trade gone? Looking at the figures, a casual observer might conclude that globalisation is in crisis. Total trade in goods and services, having initially bounced back from the global financial crisis, has slowed sharply. Usually growing twice as fast as the world economy, it is underperforming gross domestic product for the first time in four decades.贸易都去哪儿了?从数据看,外行人可能会得出结论——全球化正处于危机中。全球金融危机过后,世界商品及务贸易最初强劲反弹,但之后又急剧放缓。全球贸易增速通常是全球经济增速的两倍,现在却低于国内生产总值(GDP)增速,这是40年来首次出现的局面。In reality, the situation is less dire. The period since the financial crisis is certainly not a re-run of the retreat from free trade in the Great Depression. Despite some governments indulging in “murky protectionism” – using regulations to disadvantage foreign competitors – there has been no wholesale resort to trade barriers.现实情况倒没有那么可怕。金融危机爆发后,大萧条时期自由贸易倒退的现象并没重演。尽管一些政府沉迷于“隐秘的保护主义”,利用法规使外国竞争者处于不利境地,但没有一个国家大规模采用贸易壁垒。Last week, economists from the International Monetary Fund and the World Bank came up with a more plausible explanation: the global system is going through a structural change. Activity that previously involved cross-border trade has been brought within national economies, notably China. A slowing of measured trade growth is not therefore a cause for alarm. It does, however, underline that policy makers should be alert to assess and shape the changing future of globalisation.上周,国际货币基金组织(IMF)和世界(World Bank)的经济学家拿出了一个更可信的解释:全球体系正经历结构性变化。此前涉及跨境贸易的经济活动已开始转向各国经济体内部,尤其是中国。因此,统计显示的贸易增长放缓不应引起震惊,但它突显了政策制定者应保持警觉,随时评估和影响全球化不断变化的未来。During the growth of “Factory Asia” in the 1990s and 2000s, east Asian economies spontaneously arranged themselves into a production line for manufactured goods, with China often the final assembly stage. Many goods marked “Made in China” had most of their value added in other countries, including their markets of final destination such as Japan and the US.在20世纪90年代和21世纪头10年的“亚洲工厂”增长期内,东亚经济体自发地将自己安排成一条制成品的生产线,往往由中国负责总装。许多标有“中国制造”的商品,其绝大部分附加值都是在其他国家实现的,包括日本和美国等最终市场。That pattern is now changing. According to the calculations of the IMF and World Bank, “Made in China” more closely means what it says. In a trend starting well before the global financial crisis, the share of imported inputs in Chinese exports has fallen from more than 50 per cent in 2000 to less than 35 per cent today.然而这种模式正在改变。根据IMF和世行的计算,“中国制造”如今更加名副其实。早在全球金融危机爆发前,进口原材料在中国出口产品中所占比例已呈下降趋势,从2000年的50%以上降至今天的不足35%。Accordingly, the responsiveness of trade to GDP growth has undergone a long-term reduction, which may prove permanent. Other factors may push it further in the same direction. While the world is not exactly running out of low-cost workers, the obvious candidates to take the lead in labour-intensive manufacturing – south Asia and India – are yet to do so. And emerging technologies such as 3D printing will reduce the dependence of manufacturing on low-cost labour and bring production closer to the final consumer.相应地,贸易对GDP增长的反应灵敏程度经历了一个长期下降过程,这有可能是永久性的。该趋势受到了其他因素的进一步推动。虽然全球并未真的缺少低成本劳动力,但有望接过劳动密集型制造业接力棒的两大明显候选者——东南亚和印度——尚未接棒。3D打印等新兴技术也将降低制造业对低成本劳动力的依赖,让产品生产可以从地理上更靠近最终消费者。The implications for policy makers of these changes are manifold. The traditional focus of trade policy, formal pacts on tariffs and subsidies, is too narrow. Instead, governments should look at a range of issues that affect their economies’ ability to participate in globalisation. Foreign direct investment, for example, is becoming more important than trade. Whatever the merits may be of individual investment treaties, the principle of protecting investors’ rights under domestic law has become ever more important.这些变化对政策制定者的影响是多方面的。贸易政策的传统焦点——关税和补贴的正式协定——如今已过于狭隘。政府应转而关注影响其经济参与全球化能力的一系列问题。例如,外国直接投资正变得比贸易更重要。无论个别投资条约有何优点,根据国内法律保护投资者权益的原则正变得日益重要。Globalisation and trade are often regarded as the same thing. They are not. Most tariffs have aly dropped rapidly and are rarely the determining factor in locating production. Technology and output will disperse globally according to countries’ capacity to adopt them, not their success in wringing marginal treaty concessions out of trading partners.全球化和贸易往往被视为一回事,其实不是。大多数关税已快速下调,不再是确定生产地址的决定性因素。技术和制造将根据各国的接纳能力(而不是它们在谈判条约时讨价还价、从贸易伙伴那里得到鸡毛蒜皮的让步的本事)在全球分布。The recent slow growth in trade is not a disaster. It reflects the fact that, for all the drawbacks of its model, China has managed to go beyond the final-assembly stage to head up the value chain. Other economies can too. The most important barriers to global commerce are not between economies: they are within them.近年贸易增长的放缓不是一场灾难。它反映了这样一个事实:中国经济模式尽管存在种种弊端,但它成功超越了总装工序的角色,开始向价值链上方移动。其他经济体也能做到这一点。全球贸易最重要的障碍并不存在于经济体之间,而是在各经济体的内部。 /201411/345215

  Festivities were held at the Kremlin fouryears ago to celebrate Kalashnikov#39;s 90th birthday四年前在克里姆林宫为庆祝卡拉什尼科夫90岁生日举行的庆祝活动Theinventor of the Kalashnikov assault rifle, Mikhail Kalashnikov, has died aged94, Russian officials say.俄罗斯官员说,卡拉什尼科夫突击步的发明者,米哈伊尔·卡拉什尼科夫已经去世,享年94岁。The automatic rifle he designed became oneof the world#39;s most familiar and widely used weapons.他设计的自动步,已经成为世界上最熟悉的和广泛使用的武器之一。Its comparative simplicity made it cheap tomanufacture, as well as reliable and easy to maintain.其比较简单使它可以被便宜的制造,同时可靠且易于维护。Although honoured by the state, Kalashnikovmade little money from his gun. He once said he would have been better offdesigning a lawn mower.虽然由国家表彰,但是卡拉什尼科夫从他的那里几乎没有赚到钱。他曾经说过,他会更好地设计一台割草机。Kalashnikov was admitted to hospital withinternal bleeding in November.卡拉什尼科夫在十一月由于内出血而被送往医院。He died on Monday in Izhevsk, Udmurtia,where he lived, an official there said.周一,他在乌德穆尔特共和国伊热夫斯克的住所中去世,一名官员说。Matchingthe Germans与德国匹敌Mikhail Timofeyevich Kalashnikov was bornon 10 November 1919 in western Siberia, one of 18 children.米哈伊尔·季莫费耶维奇·卡拉什尼科夫1919年11月10日出生于西西伯利亚,家中18个孩子之一。卡拉什尼科夫和他的AK47(资料图片)He was called up by the Red Army in 1938,and his design skills were used to improve the effectiveness of weapons andequipment used by Soviet tank regiments.1938年,他被征召加入了红军,他的设计技巧被用来提高苏联使用的坦克团武器装备的效能。He designed the machine gun after beingasked by a fellow soldier why the Russians could not come up with a gun thatwould match the ones used by the Germans.在他被一个战友问道,为什么俄国人不能设计出一把能与德国人使用的那些相匹敌的之后,他设计了这种机关。Work on the AK47 was completed in 1947, andtwo years later the gun was adopted by the Soviet army.设计AK47工作于1947年完成,并且这种在两年后被苏联军队采用。Kalashnikov continued working into his late80s as chief designer at the Izhevsk firm that first built the AK-47.卡拉什尼科夫一直工作到80年代末,其间他在伊热夫斯克公司担任首席设计师,这家公司最早生产AK-47。He received many state honours, includingthe Order of Lenin and the Hero of Socialist Labour.他获得了许多国家级荣誉,包括列宁勋章和社会主义劳动英模。Kalashnikov refused to acceptresponsibility for the many people killed by his weapon, blaming the policiesof other countries that acquired it.卡拉什尼科夫拒绝接受许多人被他的武器杀死的指责,把这归咎于购买它的其他国家的政策。However, pride in his invention wastempered with sadness at its use by criminals and child soldiers.然而,对其发明的自傲,在其发明被罪犯和童军使用时受到了损害,并感到悲伤。;It is painful for me to see whencriminal elements of all kinds fire from my weapon,; Kalashnikov said in2008.“对我来说这是痛苦的,当我看到各种各样的犯罪分子用我的武器开火的时候,”卡拉什尼科夫在2008年时说。 /201312/270131

  After hosting the Summer Olympics in 2008, Beijing was recently picked for the 2022 Winter Games, the first city to organize both events. The last games fueled a major construction boom and offered the Chinese capital a chance to build world-class hotels. Since then, the pace of construction has not slowed much and, despite the recent economic slowdown, more hotels are planned ahead of the Winter Games.北京继2008年举办夏季奥运会之后,前不久申办2022年冬季奥运会成功,成为第一个承办冬、夏两会的城市。2008年奥运会给北京提供了修建世界级酒店的机会,掀成一股建设热潮。从那以后,建设步伐并未明显放慢。尽管中国最近经济放缓,但是冬奥会前,就已经计划要筹建更多的酒店。There were 68 five-star hotels and a 130 four-star hotels in Beijing at the end of 2014, according to the Beijing Tourism Administration. While skiing competitions will take place in Zhangjiakou, about three hours away, new developments are likely to remain in the center of town.据北京市旅游发展委员会(Beijing Tourism Administration)的统计,截至2014年年底,北京有68家五星级酒店和130家四星级酒店。虽然滑雪赛事将在张家口举行,那里离北京有三小时车程,但新的酒店建设项目仍主要集中在北京市中心。Bobby Zur, the founder of Travel Artistry, a travel consultancy based in Franklin Lakes, N.J., and an authority on Beijing properties, said there is a huge premium for hotels built in the center of town. “The traffic is so horrendous in the city, and getting around isn’t easy, so the hotels define themselves by what district they are in and what they are close to,” he said.Travel Artistry是新泽西州富兰克林湖的一家旅游咨询公司。其创始人鲍比·祖尔(Bobby Zur)是熟悉北京地产的权威人士。他说,酒店建在市中心有个很大的优势。“北京的交通很糟糕,去哪儿都不容易,所以酒店都宣扬自己在哪个地区,离哪些地方近,”他说。Here’s a snapshot of some of the main luxury hotels and a preview of what is in the pipeline.下面是一些主要豪华酒店的简介以及建设中酒店的预览。Before the Summer Games2008年奥运会之前开业的酒店The Peninsula, which opened in 1989, was one of the first upscale international hotels to come to Beijing. Long considered the gold standard in the city, the 525-room property, in the shopping district of Wangfujing, is undergoing an extensive renovation of its rooms and restaurants. The hotel remains open during the makeover, which is to be completed by next summer.1989年开业的半岛酒店(The Peninsula)是第一批进驻北京的高档国际酒店之一。它位于王府井购物区,有525间客房,长期以来被认为是该市酒店的金牌标准。这家酒店正在对客房和餐厅进行全面的重新装修,工程将于明年夏天完成。装修期间,酒店仍营业。A decade later came the St. Regis, which opened in 1999 in the center of the capital’s diplomatic and commercial district. The property is a short drive from major tourist landmarks such as the Forbidden City and Tiananmen Square. And just in time for the 2008 Summer Games, the Park Hyatt, with 246 rooms, opened in the Chaoyang District in the northeast part of town.十年之后,1999年,瑞吉酒店(St. Regis)进驻北京市外交和商务区的中心地段。它离故宫和天安门广场等主要旅游景点只有短暂的车程。北京柏悦酒店(Park Hyatt)正好赶在2008年奥运会开幕前开业,有246间客房,位于北京市东北部的朝阳区。More Recent Openings近些年开业的酒店The building boom did not lose its momentum after the games. The Four Seasons Hotel opened in late 2012, a 313-room property in the central Chaoyang District. After that came the Rosewood, across the street from the iconic CCTV Tower that was designed by the Dutch architect Rem Koolhass in the city’s business district, also in Chaoyang. The hotel opened in 2014, and marked the Asia debut of the Los-Angeles based chain.2008年奥运会结束后,酒店建设的势头并没有减弱。2012年底开业的四季酒店(Four Seasons Hotel )位于朝阳区的中心地带,有313间客房。2014年开业的瑰丽酒店(Rosewood)也在朝阳区,对面就是位于商务区的标志性建筑、由荷兰建筑师雷姆·库哈斯(Rem Koolhass)设计的中央电视台新大楼,这是这家洛杉矶酒店连锁集团首次在亚洲开店。But the biggest splash belonged to a local brand, with the opening of Nuo Hotel Beijing, the first property of the namesake Chinese luxury hospitality chain. With 438 rooms, and located in the Chaoyang District, the hotel seeks to celebrate Chinese culture and its heritage. The hotel was developed with the help of the Geneva-based Kempinski Hotels and the Beijing Tourism Group.但是,反响最大的是一个当地品牌——北京诺金酒店(Nuo Hotel Beijing)。这是中国豪华酒店连锁集团诺金开设的第一家酒店。它位于朝阳区,有438间客房,着力彰显中国文化和遗产。这家酒店的开发得到了日内瓦的凯宾斯基酒店集团(Kempinski Hotels)和首旅集团(Beijing Tourism Group)的协助。The high-end hotel scene isn’t limited to big chains anymore. Boutique hotels are also becoming a trend in Beijing, said Austin Zhu, the manager of the Beijing office of the travel company Abercrombie and Kent. One example is the stylish Hotel Eclat Beijing which opened in 2013 in the Central Business District.不再是只有大型酒店连锁集团有能力开设高档酒店。Abercrombie and Kent旅游公司北京办事处的经理奥斯汀·朱(Austin Zhu)说,在北京,精品酒店也正成为一股潮流。比如时髦的北京怡亨酒店(Hotel Eclat Beijing),它于2013年在中央商务区开业。What’s Coming Ahead of the Winter Games?北京冬奥会之前还会有哪些酒店开业?Mandarin Oriental has two projects planned for Beijing. The first is its long-delayed flagship property by the CCTV tower. The hotel was first scheduled for 2009 but was devastated by a huge fire just months before its planned opening. The Mandarin Beijing is now scheduled to open in the last quarter of 2016 after a complete renovation of the tower building.文华东方酒店集团(Mandarin Oriental)在北京有两个酒店规划。第一个是它延期已久的旗舰酒店,在中央电视台的新大楼北配楼里。该酒店原计划2009年开业,但是开业前几个月,大楼被一场大火烧毁。目前计划在大楼全面装修后,于2016年最后一个季度开业。Mandarin also announced it would have a second hotel in Beijing. Scheduled for 2017, the hotel will be much smaller, with just 74 rooms on Wangfujing Street, the city’s busiest commercial thoroughfare.文华东方酒店集团还宣布,它将在北京开设第二家酒店。这家酒店要小得多,只有74间客房,位于北京最繁华的王府井商业街,计划2017年开业。Also in 2017, Bulgari Hotels and Resorts will open its fifth worldwide property in the Embassy District. The 120-room building faces the Liangma River. Nuo is planning a second location in the eastern suburb of Tongzhou, to open in 2019, in conjunction with the opening of Universal Studios.宝格丽度假酒店(Bulgari Hotels and Resorts)在北京使馆区修建的全球第五家分店也计划于2017年开业。这家酒店有120间客房,毗邻亮马河。诺金酒店集团计划2019年在北京市通州区东部的郊区开设第二家酒店,与环球影城(Universal Studios)主题公园一同开业。 /201508/393793


  World leaders must make water scarcity a bigger priority than climate change because the problem is far more urgent than global warming, the chairman of one of the biggest food companies has warned.全球最大食品公司之一的董事长警告称,世界各国领导人必须对缺水问题给予比气候变化更优先的关注,因为缺水问题远比全球变暖更加紧迫。“Today, you cannot have a political discussion anywhere without talking about climate change,” Nestlé chairman Peter Brabeck told the Financial Times. “Nobody talks about the water situation in this sense. And this water problem is much more urgent.“如今,你在任何地方参与政治讨论,都免不了谈到气候变化,”雀巢(Nestlé)董事长包必达(Peter Brabeck)对英国《金融时报》表示。“没有人这么讨论水资源状况,而水的问题其实紧迫得多。“I am not saying climate change is not important. What I am saying is even without climate change we are running out of water and this has to become the first priority.”“我并没有说气候变化不重要。我想说的是,即使没有气候变化,我们也在耗尽水资源,这必须成为头号优先考虑事项。”Mr Brabeck’s comments come as businesses are having to adapt to rising water costs around the world and rivalries mount over poorly managed supplies of a resource long taken for granted.包必达发表此言之际,企业正不得不适应世界各地不断上涨的用水成本,同时,围绕这种长期被忽视的资源的供应管理不善,各方的矛盾正在加剧。In the past three years, companies have committed bn to improve the way they conserve, manage or obtain water, according to FT research and data from Global Water Intelligence, a market analysis firm.根据英国《金融时报》的研究和市场分析公司“全球水资源情报”(Global Water Intelligence)的数据,过去三年里,全球企业已承诺投资840亿美元,改进他们节省、管理或获取水资源的方式。In the last year, BHP Billiton and Rio Tinto, two of the world’s biggest miners, agreed to spend bn on a desalination plant for a copper mine in Chile, curbing their use of fragile local water supplies.去年,全球最大的两家矿商必和必拓(BHP Billiton)和力拓(Rio Tinto)同意斥资30亿美元,为智利的一个铜矿建设海水淡化厂,以减少使用脆弱的当地供水。Nestlé has set aside 38m Swiss francs (.5m) on new water-saving and treatment equipment at plants.雀巢已拨出3800万瑞士法郎(合4250万美元),拟投资于旗下工厂新的节水和水处理设备。Other companies, from Ford to Google, have invested in measures to stem their use of fresh water, an issue Google’s data centre head, Joe Kava, has warned is “the big elephant in the room” for data companies, which can need thousands of gallons daily to cool centres.从福特(Ford)到谷歌(Google),其它公司已投资于各种措施减少各自的淡水使用量。谷歌数据中心负责人乔#8226;卡瓦(Joe Kava)警告,这个问题对于数据公司就像是“房间里的大象”,因为这些公司每天可能需要数千加仑的水来冷却数据中心。Andrew Metcalf, an investment analyst, said: “Water scarcity is finally starting to bite financially.” It aly has “credit-negative implications” for the mining industry, he said in a report last year for Moody’s, the credit rating agency.投资分析师安德鲁#8226;梅特卡夫(Andrew Metcalf)表示:“缺水终于开始造成财务影响。”他在去年为信用评级机构穆迪(Moody’s)撰写的一份报告中表示,这个问题已经对采矿业产生了“负面信用影响”。 /201407/312769


  The Making of a Financier造就一个金融家To mention Mr. Low in Malaysia is to conjure the image of a baby-faced young man in rimless glasses and a loose black V-neck, holding a magnum of Cristal and surrounded by celebrities. But if he is sometimes derided as a tabloid party boy who once flew a group of bottle girls from New York to Malaysia, the reality is that the clubbing life, for Mr. Low, was actually a way to build a booming business managing money for his friends.在马来西亚提到刘特佐,在人们心目中唤起的形象是长着一张娃娃脸、戴着无框眼镜的年轻男子,他身穿宽松的黑色V领衫,手拿一瓶水晶香槟(Cristal),站在一群名人中间。如果说他有时被嘲笑为常上小报的,还曾把一群倒酒女郎(bottle girls)从纽约用飞机接到到马来西亚,但现实情况却是,这种泡吧生活是刘特佐打造一个帮助朋友管钱的蓬勃业务的方式。“I think a relationship with an investor is not just about managing their money well,” he said in an extensive interview with The Star, a Malaysian newspaper, in 2010. “Although it is not in my job scope, but if my friend says he wants a flight urgently to somewhere or he wants a dinner reservation at a well-known place, I’ll do my best to make it happen.” He also said, “I am usually the concierge service that arranges everything, and thus my name is all over the place.”“我觉得,与投资者的关系不只是管好他们的钱,”他在2010年马来西亚报纸《星报》(The Star)对他的长篇采访中说。“如果我的朋友说,他需要紧急飞往某个地方、或他想在一个知名饭馆预订晚餐,虽然这不在我的工作范围之内,但我会尽我所能做成这事。”他还表示,“我是那种提供一切安排的礼宾务者,因此,所有的地方都有我的名字。”Around George Town, on Penang Island, where Jho grew up, the Lows were seen as a family of somewhat deflated affluence, according to several businessmen who have known them for years. The father, Larry, was an executive for an investment holding company called MWE Holdings, but he split with his partner in the mid-1990s and faded from the local business scene. Still only a teenager, Jho, the youngest of three children, emerged as the family’s best hope for the future.几名与刘家相识多年的商人表示,在刘特佐长大的槟榔屿乔治市,人们认为刘家已经有些败落。他的父亲刘福平(Larry Low)曾是一家名为MWE Holdings的投资控股公司的高管。但是,上世纪90年代中期,他与合作伙伴发生纠纷,之后渐渐从当地商界消失。刘特佐是家里三个孩子中最小的一个,当时还只是一名少年的他,成了刘家未来最大的希望。There was money for education abroad, and in London, while attending the ancient and elite Harrow school, Mr. Low became friends with Mr. Najib’s stepson, Mr. Aziz, who was studying at the London School of Economics. He also grew close to Mr. Aziz’s mother, Rosmah Mansor, who stayed for months at a time in an apartment she kept there.家里仍有用于留学的钱。刘特佐在伦敦古老的精英学校哈罗公学(Harrow School)就读时,与纳吉布的继子阿齐兹成了朋友。阿齐兹当时在伦敦政治经济学院(London School of Economics)学习。他与阿齐兹的母亲罗斯玛·曼梳(Rosmah Mansor)的关系也密切起来。她会去自己位于英国的一所公寓,一待就是几个月。In college, at the Wharton School of the University of Pennsylvania, Mr. Low kept up his ties back home by running a Malaysian student group. But he also came to know the children of prominent Jordanian and Kuwaiti families. Even before graduating, he was managing money for what he later described as “my family and close Middle Eastern and Southeast Asian friends.”在宾夕法尼亚大学(University of Pennsylvania)的沃顿商学院(Wharton School)读大学期间,刘特佐通过管理一个马来西亚学生团体,与马来西亚保持着联系。不过,他也结识了约旦和科威特名门望族的子弟。他在毕业之前,就已经开始为他人管理基金,他形容那些人是“我的家人,以及中东和东南亚的亲密朋友”。After college, many of his early business deals were based in Malaysia — helping a Kuwaiti bank purchase a high-rise complex called the Oval, and bringing Middle Eastern money into the country to finance a commercial zone in the south and a new financial district in the capital. By 2007, he had formed an investment group that included a Malaysian prince, a Kuwaiti sheikh and a friend from the ed Arab Emirates who went on to become ambassador to the ed States and Mexico.大学毕业后,他最初的许多商业交易都是在马来西亚开展的——帮一家科威特购买了叫做Oval的高层楼宇,并把中东的资金引入马来西亚,为南部的一个商业区和吉隆坡的一个新金融区提供资金。到2007年时,他已经成立了一个投资集团,参与其中的包括一名马来西亚王子、一名科威特谢赫,以及阿联酋的一位友人。后来,这位友人成了阿联酋驻美国和墨西哥的大使。Two years later, he was pitching his idea for a Malaysian sovereign wealth fund. His plan was to invest public money for the public good through a fund tied to one of the country’s oil-producing states, and so he began wooing the sultan of Terengganu, who was also Malaysia’s king under the nation’s rotating monarchy.两年后,他就开始四处推介建立一个马来西亚主权财富基金的想法。他计划通过与该国一个产油州有联系的基金,使用公共资金开展投资为公众谋利,所以他开始拉拢登嘉楼州的苏丹。根据马来西亚轮流担任君主的体制,这位苏丹当时是马来西亚的最高元首。It was all about making connections, making friends. Success, he told The Star, is “attributable to being at the right place and right time and meeting the right people coupled with a trusting relationship.”最重要的是拉关系和交朋友。他告诉《星报》,成功“就是要在正确的时间处在正确的位置,遇见正确的人,再加上互相信任的关系”。In April 2009, those ingredients all came together for Mr. Low. The stepfather of his friend Mr. Aziz became prime minister of Malaysia.对于刘特佐而言,这些要素在2009年4月结合在了一起。他的朋友阿齐兹的继父,当上了马来西亚总理。A Political Legacy政治遗产Mr. Najib, 61, has a deep pedigree in Malaysian politics. His father, Tun Razak, was the country’s second prime minister, in the 1970s. His uncle was its third. His cousin is now defense minister.61岁的纳吉布与马来西亚政治有着很深的渊源。他的父亲敦拉扎克(Tun Razak)是上世纪70年代马来西亚的第二任总理。他的舅父是马来西亚第三任总理,他的表弟是现任国防部长。Mr. Najib has risen through the political ranks: member of Parliament at 23; chief minister of his home state; minister of education, defense and finance; and deputy prime minister.纳吉布在政治体系中步步高升:23岁时担任国会议员;之后在家乡所在州担任州务大臣;继而担任教育、国防和财政部长;后来担任副总理。The family is tightly intertwined with Malaysia’s leading political party, the ed Malays National Organization, whose long hold on power owes much to its close relationship with the country’s business elite. That closeness, in turn, has helped engender a culture of corruption, said Zaid Ibrahim, a former minister of legal affairs and judicial reform who served alongside Mr. Najib. Inflated government contracts are the norm, widely accepted because recipients simply turn around and donate to the party, he said.他的家族与马来西亚最重要的政党马来民族统一机构(The ed Malays National Organization,简称巫统)之间的关系十分密切。这个家族之所以能够长期掌权,主要还是因为它与马来西亚的商界精英关系亲密。然而,这种亲密关系反过来又催生了一种腐败文化,曾担任部长负责法律和司法改革事务的再益·依布拉欣(Zaid Ibrahim)说。再益曾与纳吉布同时担任部长。他说,夸大金额的政府合约十分常见,而这种合约之所以被广泛接受,原因在于拿到合约的商人,会反过来为巫统捐钱。“You know why corruption is very high in Malaysia?” he said. “It’s because the party in power is synonymous with the state.”“你知道马来西亚的腐败程度为什么这么高吗?”他说。“因为执政党就等同于政府。”That point was underscored in the State Department’s 2010 human rights report, which said, “Officials often engaged in corrupt practices with impunity” and noted “a broadly held perception of widesp corruption and cronyism within the governing coalition and in government institutions.”美国国务院(State Department)发布的2010年度人权报告中也强调了这一点。报告称,“官员经常肆无忌惮地从事腐败活动”,并指出“人们普遍认为,执政联盟和政府机构内,广泛存在腐败和任人唯亲的现象”。There have been no proven corruption allegations against Mr. Najib. However, he has been dogged by questions, seized upon by his political opponents, stemming from a long-running bribery inquiry in France involving submarines he commissioned from a French company while he was defense minister.尽管针对纳吉布的腐败指控,目前还没有哪一项得到实,但他一直被各种问题所困扰,被政治对手抓住不放。这些问题源于法国一项长期的贿赂调查,与他担任国防部长期间,从一家法国公司订购潜艇一事有关。The French national police found documents showing that the submarine company paid more than 0 million to a company controlled by one of Mr. Najib’s close associates. In addition, one police document says, without elaboration, that Mr. Najib demanded money in exchange for a 2001 meeting in Paris.法国警方发现的文件显示,那家潜艇公司向一家由纳吉布的亲信控制的公司,付了超过1亿美元。此外,一份警方文件还称,纳吉布还曾索要钱财,以此换取2001年在巴黎举行一次会议,但文件中并未详述相关情形。Malaysian officials said the payments to the company controlled by Mr. Najib’s associate were for “support and coordination services”; the prime minister’s office said he received no payments and did not demand any.马来西亚官员称,向纳吉布的亲信控制的公司付款项,是用于开展“持和协调务”;总理办公室称,他并没有收到任何款项,也没有要求对方付款。Mr. Najib, who earns an annual salary of about 0,000 as prime minister, has been battered by news media reports of his wife’s lavish spending. A notable episode involved the Birkin bags: A series of photos that went viral on social media in Malaysia showed Ms. Rosmah holding at least nine of the purses. They typically cost between ,000 and 0,000 apiece.作为总理,纳吉布的年薪约为10万美元。由于媒体对他妻子的挥霍进行了报道,他也受到了冲击。其中一个著名事件与柏金包有关:马来西亚社交网络上广泛传播的一系列照片显示,罗斯玛拿着至少九个手包,其价格通常在每个9000美元到15万美元之间。Ariff Sabri, an aide to Mr. Najib from 2000 to 2004 who joined the opposition in 2012, said the prime minister kept “piles and piles” of ringgit bills stacked in his safe. And invoices and other documents obtained by The Times show millions of dollars in jewelry ordered for Ms. Rosmah in Hong Kong in 2008 and 2009 — diamond and emerald rings, and diamond, emerald and ruby bracelets.曾在2000年到2004担任纳吉布助理的阿里夫·沙比利(Ariff Sabri)于2012年加入了反对派。他说,总理在保险箱里放着“成堆成堆的”马来西亚令吉。时报取得的其他票据和文件显示,2008年和2009年,在香港为罗斯玛订购的珠宝就有数百万美元之多,其中有钻石和戒指,还有用钻石、和红宝石制成的手镯。The prime minister’s office said, “Neither any money spent on travel, nor any jewelry purchases, nor the alleged contents of any safes are unusual for a person of the prime minister’s position, responsibilities and legacy family assets.”总理办公室称,“对于一个高居总理职位、肩负着重要责任,并且拥有家族遗产的人来说,花钱旅行或购买珠宝,以及据称放在保险箱里的财物,都不足为奇。”For some people who have long known Mr. Najib, the lavish lifestyle that appeared to evolve with his second marriage, to Ms. Rosmah in 1987, has been a surprising — even dismaying — turn for a modest technocrat.对于那些很早就认识纳吉布的人来说,这种奢侈的生活方式与过去那个低调的技术官僚相比,是一个出人意料、甚至令人沮丧的转变。转变发生在1987年与第二任妻子罗斯玛结婚之后。Last year, Mr. Najib’s younger brother, Nazir, wrote a newspaper column that tacitly jabbed at the current prime minister by praising the frugality of their father, a career government official who died in office at age 53.去年,纳吉布的弟弟纳西尔(Nazir)给报纸写了一篇专栏文章,通过赞扬他们父亲的节俭,对现任总理进行了暗讽。他们的父亲是一名职业政府官员,53岁时在任上去世。When he and his brothers had asked for a swimming pool at the prime minister’s residence, Mr. Nazir wrote, “My father made it abundantly clear that while Seri Taman may be our home, the house belonged to the government and, hence, to the people. Anything spent on it would have to come from public funds, and there was no way he was going to allow the state coffers to be depleted on something as frivolous as a swimming pool. ‘What will the people think?’ he thundered.”纳西尔写道,当他和兄弟们提出想在总理府修建一个游泳池时, “父亲非常清楚地告诉我们,斯里塔曼(Seri Taman)或许是我们的家,但房子属于政府,所以它属于人民。它所有的开都来自公共资金,他绝不允许国库的资金都用在游泳池这种无足轻重的事情上。‘人民会怎么想?’他怒喝道。”The Fund投资基金Mr. Low’s business romance with Malaysia’s king, it turned out, was short lived. But the new prime minister, Mr. Najib, was happy to have a way to benefit the nation writ large, and the sovereign wealth fund soon morphed into a new one, called 1Malaysia Development Berhad.事实明,刘特佐与马来西亚元首的生意关系并不长久。但是,新任总理纳吉布很高兴有办法能让代表这个国家的那群人获益。主权财富基金很快演变成了一家名为“一个马来西亚发展有限公司”(1Malaysia Development Berhad,简称1MDB)的新基金。Mr. Najib became chairman of the board of advisers of 1MDB, which calls itself a “strategic development company.” A close Penang friend of Mr. Low’s father became a director, and two of Mr. Low’s friends joined the staff. Mr. Low himself was not given an official role, but he is regularly consulted on its actions, according to three people who have had regular dealings with 1MDB but requested anonymity to preserve relationships.纳吉布成了1MDB顾问委员会的主席,该公司自称是一家“战略发展公司”。刘特佐的父亲在槟城的一位密友担任公司董事,刘特佐的两位朋友也加入了该公司。与1MDB时常有业务往来的三人表示,刘特佐并未担任正式职务,但公司经常向他寻求建议。为了维持业务关系,这三人要求匿名。In his statement to The Times, Mr. Low played down his role in 1MDB, saying that “from time to time and without receiving compensation,” he has given his views on various matters.刘特佐在给时报的声明中淡化了他在1MDB中的作用,说他会“时不时地,在不收取报酬的情况下”为各种事情提供建议。While Mr. Low has no official position with the fund, in 2012 it emerged in British court documents that he had presented a letter of support from 1MDB in his investors’ unsuccessful bid for the hotel group that includes Claridge’s. He also said the financing would be fully underwritten by Malaysian government investment funds, according to the documents.虽然刘特佐在基金中没有任何正式职务,但是2012年,英国法院的文件表示,在他代表的投资者试图以15亿美元竞购拥有凯莱奇酒店(Claridge’s)的一家酒店集团时,他拿出了1MDB发出的一封持信。文件显示,他还曾表示,马来西亚政府的投资基金将为此次融资提供担保。那次竞购最后未获成功。Mr. Low and 1MDB also had dealings with an oil-drilling company called PetroSaudi International that had been founded by a Saudi businessman and a Saudi prince.刘特佐和1MDB还与一家叫做沙特石油国际公司(PetroSaudi International)的石油开采企业有业务往来,这家公司的创始人是一个沙特商人和一个沙特王子。Soon after its creation, 1MDB invested billion in a joint venture with PetroSaudi. A few months later, a PetroSaudi subsidiary purchased a Malaysian holding company, UBG, in which Mr. Low and his investors held a substantial stake, according to public records. News media reports did not say so, but corporate records reviewed by The Times show that a director of the PetroSaudi subsidiary was a close friend of Mr. Low named Geh Choh Hun.成立后不久,1MDB就投资10亿美元,与沙特石油成立了一家合资企业。几个月后,沙特石油的一家子公司收购了马来西亚控股公司UBG。公开记录显示,刘特佐及他代表的投资者在这家公司中持有大量股份。虽然新闻报道中并未提及,但时报查阅的企业记录显示,沙特石油的这家子公司中,有一名董事是刘特佐的密友,名叫倪祖韩(Geh Choh Hun)。PetroSaudi has told the Malaysian press that the deals were unrelated. And both men said Mr. Geh was not representing Mr. Low’s interest in the deal.沙特石油告诉马来西亚媒体,这些交易并不相关。两人都表示,倪祖韩并没有在交易中代表刘特佐的利益。By 2011, 1MDB pulled out of the PetroSaudi joint venture. The proceeds, however, were not immediately returned to Malaysia. Instead, they ended up in a Cayman Islands company and managed by an investment firm that 1MDB only recently identified. The money was recently returned to 1MDB, the fund has said.2011年,1MDB从它与沙特石油的合资企业中撤资。不过,款项没有被立即回到马来西亚,而是到了一家开曼群岛的公司手中,这家公司由一家投资公司管理。1MDB最近才指出该投资公司的名称。该基金表示,这些钱最近返还给了1MDB。The Caymans maneuver has stirred an outcry even within Mr. Najib’s own party. “I don’t understand why the government carries on with 1MDB,” Daim Zainuddin, a former finance minister, said in an interview. “To me, it’s quite frightening because you don’t know what they’re doing,” he said, adding, “Why must government money be parked?”就连在纳吉布所属政党的内部,开曼群岛的动作也引起了强烈抗议。“我不明白为什么政府还要与1MDB保持关系,”马来西亚前财长达耶姆·扎因丁(Daim Zainuddin)在采访中说。“在我看来,这相当可怕,因为你不知道他们在做什么,”他补充道,“为什么要把政府的钱放在那里?”There have been other criticisms as well — that the fund has taken on large amounts of debt and that some of its investments have benefited large donors to Mr. Najib’s party.也有其他的批评声音,如该基金背负了大量债务,一些投资项目使纳吉布所在政党的主要资助者受益。The prime minister’s office said that 1MDB was run by professional managers, and that many blue-chip companies do business with funds registered in the Caymans. The criticisms, it added, “need to be examined for political motivation.”纳吉布办公室表示,1MDB由职业经理人经营,很多蓝筹股公司都与在开曼群岛注册的基金有商业往来。总理办公室还表示,“需要审视”这些批评的“政治动机”。A year ago, the accounting firm KPMG refused to sign off on 1MDB’s financials, according to Nur Jazlan Mohamed, chairman of Parliament’s audit committee. KPMG declined to comment for this article. The fund, which described the parting as amicable, found a new auditor: Deloitte.马来西亚国会审计委员会主席诺嘉兹兰·穆罕默德(Nur Jazlan Mohamed)透露,一年前,会计师事务所毕马威(KPMG)拒绝签字认可1MBD的财务状况。毕马威拒绝就本文置评。该基金形容双方友好地结束了合作关系,并找到一个新的审计事务所:德勤(Deloitte)。Mr. Nur Jazlan, a member of Mr. Najib’s party, said the Deloitte blessing gave him comfort. “They wouldn’t sanction the accounts if there was a problem,” he said. Still, he acknowledged that “conditions are fertile” for fraud, given the scant oversight of 1MDB.作为纳吉布所在政党的成员,诺嘉兹兰表示,德勤的持给他带来了安慰。他说,“如果有问题的话,他们不会认可这些账目。”但他承认,鉴于对1MDB的监督不足,欺诈“的条件非常充足”。“Yes, they make money, but should they make more money?” Mr. Nur Jazlan said. Yet as long as 1MDB shows a profit, he added, it is unlikely that there will be any serious inquiry into whether money went missing. “Money makes money,” he said. “You can basically hide a lot of things in there as well. Then, the party doing scrutiny of management is the board, which is appointed by who? And chaired by who? The prime minister.”诺嘉兹兰说,“是的,他们在赚钱,但他们赚的钱是不是应该再多些?”但是他又表示,只要1MDB还在盈利,就不太可能开展严格的调查,追究是否有资金流失。“钱可以用来赚钱,”他说。“你基本上还是可以将很多东西隐藏起来。对管理层进行监督的是董事会,董事会是由谁委任的?由谁领导呢?总理。” /201502/359415

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