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[翻译字幕]Economics Report - A Credit Downgrade for Japan, but Some Signs of Hope

来源:慢速英语   时间:2011-08-27 09:39:17

经济报道 - 穆迪下调日本国债信用评级

This is the VOA Special English Economics Report.


This week, Moody’s Investors Service lowered its credit rating for Japanese government debt. The credit rating agency downgraded Japan one step from Aa2 to Aa3.

本周,穆迪投资者服务公司(Moody's Investors Service)将日本国债信用评级从Aa2下调一档至Aa3。


Finance Minster Yoshihiko Noda said trust in the economy "will not be shaken" by Wednesday's action.

日本财务大臣野田佳彦(Yoshihiko Noda)表示,人们对日本经济的信任不会因为周三的下调而动摇。

Moody’s said it acted because of Japan’s large budget deficits and buildup in government debt since the two thousand nine global recession. Japan's public debt is twice the size of its economy. Japan has the world’s third-largest economy.


Moody’s said another reason was Japan’s political situation. Japan has already had five prime ministers since two thousand six. Prime Minister Naoto Kan announced his resignation Friday.

穆迪表示另一个原因是由于日本的政治局势。自2006年以来日本已历经5任首相。现任首相菅直人(Naoto Kan)预计即将辞职。(注:今日中午消息,菅直人已正式宣布辞职,执政仅14个月。)

Japan struggled more than many other countries after the worldwide financial crisis. This month, Japan said its economy shrank at an annual rate of 1.3 percent from April through June. It was the third quarter of shrinkage in a row.


Japanese Prime Minister Naoto Kan bows during a press conference in Tokyo Friday. Earlier in the day, Mister Kan announced his resignation.

The earthquake and tsunami in March hurt manufacturing. Shortages of parts led to a big drop in sales and profit for Toyota, the world's top selling carmaker.


Yet the report on the economy was good news. Economists had expected a bigger decrease following the disasters and the nuclear crisis that followed.


But there is concern that a rise in the yen could hurt growth. A high exchange value makes Japanese exports costlier and less competitive. This week, Japan announced a program of one hundred billion dollars in loans to support business spending. The goal is to help weaken the yen and lift economic growth.


Bond traders said Moody's downgrade of Japan was not a surprise. The action had the expected effect of raising borrowing costs for the Japanese government. Still, at about one percent, Japan enjoys the lowest borrowing costs of any major developed nation.


Earlier this month, another credit rating agency downgraded United States government debt for the first time. Standard and Poor's blamed the political fight over the nation's debt.

本月早些时候,另一家信用评级机构标普(Standard and Poor')首次下调了美国国债信用评级。标普指责美国国债政治斗争不断。

Foreigners hold much of the public debt of the United States and some other countries. But ninety-five percent of Japan's debt securities are held by Japanese, mostly banks and retirement funds.


On Tuesday, Prime Minister Kan met with American Vice President Joe Biden. Mr. Biden visited Japan at the end of a trip to Asia.


And that's the VOA Special English Economics Report. For more business news and to learn English, go to voaspecialenglish.com. I'm Mario Ritter.