官方APP下载:英语全能特训(微信小程序版,支持苹果手机、安卓手机)
创办于2003年
UNSV记不住?那就记中文谐音“忧安思危”吧!
  Slow and Steady Wins the Race!
UNSV英语学习频道 - Slow and steady wins the race!
公众微信服务号
英语全能特训(微信公众服务号)
UNSV英语学习频道淘宝网店
客服短信:18913948480
客服邮箱:web@unsv.com
初级VIP会员
全站英语学习资料下载。
¥98元/12个月

ECONOMICS REPORT - Sovereign Wealth Funds: When Governments Become Players

阅读次数:


VIP会员专享下载:(非VIP会员无权下载!如果想下载,但还不是VIP会员,请点此订购
下载方式:使用鼠标右键(注意是鼠标右键!)点击下面的MP3音频/MP4视频链接,然后选择“另存为…”。
MP3节目录音 MP3节目录音  PDF节目文稿 PDF节目文稿 
文章正文
同步字幕

This is the VOA Special English Economics Report.

Last month, America's biggest bank, Citigroup, agreed to sell five percent of its shares to the government of Abu Dhabi. The deal, worth seven and a half billion dollars, was another example of growing investments by sovereign wealth funds.

These are owned by governments. They are separate from the holdings of central banks. Sovereign wealth funds are estimated to hold more than two trillion dollars.

Abu Dhabi, in the United Arab Emirates
Abu Dhabi, in the United Arab Emirates

The largest is the Abu Dhabi Investment Authority, established in nineteen seventy-six. The emirate does not say how much its fund is worth. Estimates are between five hundred billion and nine hundred billion dollars.

Most sovereign wealth funds are tied to money from oil exports. Oil prices reached a record high near one hundred dollars a barrel in November. Oil is traded in dollars. And dollars have been flowing into Gulf economies like Abu Dhabi.

But there is a limit to how much money can be pumped into an economy without causing inflation to jump.

Brad Setser is a fellow for geoeconomics at the Council on Foreign Relations in New York. He notes that one problem facing these oil exporters is that their currency values are linked to the dollar, and the dollar has fallen.

Oil exporters can use sovereign wealth funds to build up reserves of money to protect against a drop in oil prices. But a severe drop seems unlikely. So instead they are making foreign investments that they hope will pay good returns.

Sovereign funds are known for highly conservative investments. But now some appear willing to take more risk.

Not all funds involve oil money. A good example is the China Investment Corporation. This newly formed company is financed by selling government bonds and buying foreign exchange from the Chinese central bank.

Much of the money in the China Investment Corporation is meant to provide capital for state-owned Chinese banks. The fund will also support the international expansion of state-owned Chinese companies. The fund is expected to reach a value of about two hundred billion dollars.

Back to Abu Dhabi: Ministers from the Organization of the Petroleum Exporting Countries met there on Wednesday. They decided to leave OPEC production unchanged for now, but agreed to meet again February first. They also welcomed their thirteenth member, Ecuador, which rejoined OPEC in November.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.

网友的学习评论(0条):
版权所有©2003-2019 南京通享科技有限公司,保留所有权利。未经书面许可,严禁转载本站内容,违者追究法律责任。 互联网经营ICP证:苏B2-20120186
网站备案:苏公网安备 32010202011039号苏ICP备05000269号-1中国工业和信息化部网站备案查询
广播台