Диссертация (Обучение студентов восточного факультета аргументативным стратегиям англоязычного делового дискурса), страница 34

What are the meaning of the following collocations from the text 5: holdat cost; book profits; regularly revalue assets.Text 8The year 1997 was special as the world witnessed the return of Hong Kongto Chinese sovereignty and the implementation of the "One Country, Two System"Policy. On the other hand, it was also an extraordinary year as the unprecedentedAsian financial crisis caused havoc and resulted in a volatile operating environment. ' Looking into the future, Mr. Jiang said after Hong Kong's return to its motherland, the policies of "one country, two systems" and "Hong Kong People Administering Hong Kong" with a high degree of autonomy have been successfullyimplemented.

The prospects for Hong Kong are bright. Bank of China hopes tojoin hands with friends from all industries to build up a more glamorous future.Text 9Although many depositors said they had confidence in the bank, they decided to withdraw money. "I will make the withdrawal because of pressure from202family and friends. Even my boss gave me half a day's leave to join the queue,"said an accountant who joined about 80 customers outside the Central branch.Text 10From: Zhang Jung MingRule of Law can't be found in chinese dictionary.

Power and Guanxi are twomajor elements in dealing with Chinese official and possibly the SAR officials inthe very near future.From: DragonThose negative comments as described by people happen only in China /HKSAR. I challenge anyone to name me a country / race who deals in majorprojects honorably and without the aid of power or Guanxi in any way.From: Frank HoI know one of the territory's highest-paid barristers, Hong Kong- and Britisheducated Lee was known in the 1980s for his debating prowess, his good guanxi onthe mainland and his ice blue Jaguar. Yet his service on a committee drafting theBasic Law led him to question the ability of a China governed by the rule of mento respect the rule of law.Exercise 1 (text 8, 9, 10)1.What traditional Chinese values are highlighted in texts 8 and 9?2.What are benefits and drawbacks of 1997 business year according tothe text 8?3.What is the meaning of the word withdrawal in the text 9?4.Discuss the meaning of power and Guanxi in the text 10?5.How do you understand the collocations rule of men and rule of law inthe text 10?Exercise 2.

Fill the gaps1.Mr. Jiang said after Hong Kong's return to its motherland, the policiesof "one _________" and "Hong Kong _______________" with a high degree ofautonomy have been successfully implemented.2032.Bank of China hopes to join hands with friends from all industries________ a more glamorous future.3.The unprecedented Asian financial crisis caused havoc and______________ a volatile operating environment.4.Although many depositors said they _______the bank, they decided towithdraw money.Text 12TAIPANS LARRY YUNG BLUE-CHIP EXECUTIVEAt a time when investors are lining up to buy into red chips, the Chinaowned firms with listings on the Hong Kong exchange, it is easy to overlook theman who wrote the book on how to build a Chinese conglomerate: Larry Yung, 55,chief executive of proto-red-chip CITIC Pacific, billionaire, high-stakes gambler,golfing partner of tycoon Li Ka-shing and the most respected Chinese businessmanin town. But with CITIC Pacific now among the ten biggest companies on thestock exchange, it's tough to say whether Yung is a creature of Hong Kong or China, or whether CITIC Pacific is red-chip or blue.

"I was an engineer in China, not abusinessman," he says. "I never did business in China." As to the second question,Yung shrugs. "I don't mind people calling me a red chip or a blue chip. They cancall me any color. Only my earnings per share matter." Few can deny Yung's success on that point (CITIC Pacific's 1996 earnings: nearly $900 million) or his ability to shape Hong Kong's future. He is already shifting its skyline eastward with thenew CITIC Tower. After arriving in Hong Kong in 1978, Yung learned Englishand Cantonese and made small investments until becoming boss of CITIC HongKong in 1987, his jumping off point for launching CITIC Pacific on the exchangein 1990.204Text 13Volatility is largely the result of herding behaviour, which is in turn the result of the lack of information on which market participants can make rational decisions.

All this is made a lot of worse when, because of the lack of market information, particularly in the case of the over-the-counter markets, market concentration develops, whether consciously or unconsciously.Chairman of the Financial Stability Forum, once told me. He said that theeconomic theorists are those that attempt to look in a dark room to find a black cat.The economic historians are those that attempt to look in a dark room to find blackcat that is not there.

And the econometricians, who conduct all those regressionanalyses from the data collected, are those that attempt to look in a dark room tofind a black cat that is not there and say that they have found it. I certainly do notwish to be involved in that sort of thing. But there is surely one thing that ought tobe done, if we are serious about the matter. Using the same analogy of the darkroom and the black cat, why don't we just light up the room and look? But then,some may fear that instead of finding a black cat we shall find a fat tiger taking upmuch of the room, playing havoc, tearing up things, creating chaos and not wanting anybody to know about it.

I firmly believe that the disclosure of relevant information by market participants will make markets work better. This could bedone directly or indirectly through regulators and special purpose agencies such ascredit registrars or custodians. The information should include data that will enableoverall market positions and their concentration to be established. This would helpthe regulator in effectively ensuring systemic stability, taking regulatory actionwhere necessary to manage or limit the systemic risks or simply to disclose publicly the relevant aggregate information for the benefit of all market participants.Text 14Backed financially by Li Ka-shing, Gordon Wu and other local tycoons,Tose, 51, has in just nine years built what he considers the first real investmentbank of the new China (1996 revenues: $22.6 billion).

Barging into a market longdominated by western firms, Tose has melded City of London skills with wheeler205dealer cunning. But he has always known which way the wind is blowing: on awall of a Peregrine conference room hang pictures of him meeting China's President, Jiang Zemin a wall of a Peregrine conference room hang pictures of himmeeting China's President, Jiang Zemin. Tose has parlayed his good standing inBeijing into a profitable position as top investment banker of the mainland-ownedred chip companies.

Since last year, Peregrine has helped raise more than a third ofthe $5 billion that has poured into red chip share offerings. Last month, when Peregrine and co-syndicator Morgan Stanley went to the Hong Kong market to raise$24 million for Beijing Enterprises, owned by that city's government, investorsoffered more than 1,000 times the amount, and most had to be turned away.

Tose, ahurried man with a slight limp, relishes the hunting prowess of his company's namesake. The peregrine is the smallest, fastest and deadliest bird in the falcon family, he says, "the only one that kills its prey in mid-air. That's what I like to do tomy competition." Sometimes he beats rivals by taking deals they won't touch. Hisbond business, for example, is heavily concentrated in debt that has not been examined by professional rating agencies such as Moody's or Standard & Poor. Arrests and lawsuits in several Asian countries have not enhanced Peregrine's reputation outside the territory. If Tose's aggressive banking tactics make people edgy,so do his politics.

In April, he appalled a group of visiting HarvardBusinessSchoolstudents when he said that democracy was holding back India's growth and that1960s voting rights legislation hadn't helped the U.S. economy. Tose says he believes "very strongly" that universal suffrage makes politicians do stupid thingsapparent disdain for democracy makes him less nervous about the Chinese takeover than many in Hong Kong. "Providing we don't let this place become a havenfor subversive activities, China will leave us alone," Tose says bluntly. If his company is left alone, that will be quite a change.

In 1993, Hong Kong regulators censured Peregrine for trading irregularities. This past year, authorities in Bangladesharrested a Peregrine employee in what Tose calls a political witch-hunt. Anotherstaffer was jailed in Vietnam, where the firm is scaling back its operations, and aBurma venture has ended in a bitter lawsuit with a New York partner. Will these206be the hallmarks of business in the new Hong Kong: fast growth, risky deals andrun-ins with regulators? Maybe. But like the territory's maturing economy, itshome-grown investment bank may settle down as its influence grows.