- Texto (1) – | A Housing Meltdown Looms in Brazil as Builders Seek Debt Relief | www.bloomberg.com |
- Texto (2) – | China has created a monster it can’t control | www.telegraph.co.uk |
- 15 MCQs (Multiple Choice Questions) | Five-Option Question |
❑ TEXTO 1: Read the text and answer questions 76 through 80.
Crise imobiliária aproxima-se no Brasil enquanto construtoras procuram alívio da dívida
by Julia Leite and Paula Sambo
August 26, 2015
[1º PARÁGRAFO]
Há pouco tempo, o mercado imobiliário brasileiro era um dos maiores símbolos do crescente poder econômico do país.
Agora, é vítima de uma recessão cada vez mais profunda.
[2º PARÁGRAFO]
PDG Realty SA, once the largest homebuilder by revenue, hired Rothschild last week to help restructure 5.8 billion reais ($1.6 billion) of debt after second-quarter net sales sank 88percent.
A PDG Realty SA, que já foi a maior construtora residencial em termos de receitas, contratou a Rothschild na semana passada para ajudar a reestruturar 5,8 mil milhões de dólares (1,6 mil milhões de dólares) em dívidas, após a queda de 88% nas vendas líquidas do segundo trimestre.
Earlier this month, Rossi Residencial SA, which has 2.5 billion reais in debt, also brought in advisers to “restructure operations and review strategies.”
No início deste mês, a Rossi Residencial SA, que tem dívidas de 2,5 mil milhões de reais, também contratou consultores para "reestruturar as operações e rever estratégias".
Since 2010, the builder haslost 99 percent of its stock-market value.
Desde 2010, a construtora perdeu 99% do seu valor em bolsa.
Desde 2010, a construtora perdeu 99% do seu valor em bolsa.
[3º PARÁGRAFO]
The real-estate industry, which is equal to about 10 percent of Brazil’s economy, is emerging as one of the latest casualties of a recession that analysts forecast will be its longest since the 1930s.
The real-estate industry, which is equal to about 10 percent of Brazil’s economy, is emerging as one of the latest casualties of a recession that analysts forecast will be its longest since the 1930s.
O setor imobiliário, que representa cerca de 10% da economia brasileira, está a emergir como uma das mais recentes vítimas de uma recessão que, segundo os analistas, será a mais longa desde a década de 1930.
To make matters worse, interest rates are the highest in almost a decade while inflation is soaring.
Para agravar a situação, as taxas de juro estão nas mais altas em quase uma década, enquanto a inflação está subindo.
Para agravar a situação, as taxas de juro estão nas mais altas em quase uma década, enquanto a inflação está subindo.
[4º PARÁGRAFO]
“There is no real estate company that survives without sales,” Bruno Mendonça Lima de Carvalho, the head of fixed income at Guide Investimentos SA, said from Sao Paulo.
“There is no real estate company that survives without sales,” Bruno Mendonça Lima de Carvalho, the head of fixed income at Guide Investimentos SA, said from Sao Paulo.
“Não há imobiliária que sobreviva sem vendas”, disse Bruno Mendonça Lima de Carvalho, responsável pela área de renda fixa da Guide Investimentos SA, de São Paulo.
“You can’t import or export apartments.
“Não se pode importar ou exportar apartamentos.
You’re relying solely on domestic activity.”
Depende-se exclusivamente da atividade doméstica.”
Depende-se exclusivamente da atividade doméstica.”
[5º PARÁGRAFO]
PDG tried to boost revenue by lowering prices, financing up to 20 percent of some home purchases and even offering to buy back apartments if banks deny financing.
PDG tried to boost revenue by lowering prices, financing up to 20 percent of some home purchases and even offering to buy back apartments if banks deny financing.
A PDG tentou aumentar as receitas ao reduzir os preços, financiando até 20% da compra de algumas casas e até oferecendo a recompra de apartamentos caso os bancos negassem o financiamento.
Still, it sold just 217 units in the second quarter on a net basis, compared with 1,749 in 2014.
Ainda assim, vendeu apenas 217 unidades no segundo trimestre numa base líquida, em comparação com 1.749 em 2014.
Perspectiva negativa
[6º PARÁGRAFO]
On Friday, Moody’s Investors Service cut PDG’s rating three levels to Caa3, citing the possibility of significant losses for bondholders and other lenders.
On Friday, Moody’s Investors Service cut PDG’s rating three levels to Caa3, citing the possibility of significant losses for bondholders and other lenders.
Na sexta-feira, a Moody's Investors Service baixou a classificação da PDG em três níveis, para Caa3, citando a possibilidade de perdas significativas para os detentores de títulos e outros credores.
Secured creditors may recover less than 80 percent in a default, according to Moody’s, which kept a negative outlook on the rating.
Os credores com garantia real podem recuperar menos de 80% em caso de incumprimento, de acordo com a Moody’s, que manteve a perspetiva negativa para a classificação.
“The company is facing additional liquidity pressures from a prolonged deterioration in industry dynamics, including weak sales speed, tight financing availability and declining real estate prices,” Moody’s said.
"A empresa está enfrentando pressões adicionais de liquidez devido à deterioração prolongada da dinâmica do setor, incluindo a baixa velocidade de vendas, a disponibilidade limitada de financiamento e a queda dos preços dos imóveis", afirmou a Moody's.
"A empresa está enfrentando pressões adicionais de liquidez devido à deterioração prolongada da dinâmica do setor, incluindo a baixa velocidade de vendas, a disponibilidade limitada de financiamento e a queda dos preços dos imóveis", afirmou a Moody's.
[7º PARÁGRAFO]
Sao Paulo-based Rossi said in an e-mailed response to questions that second quarter sales improved and that the company’s main focus is to reduce debt.
Sao Paulo-based Rossi said in an e-mailed response to questions that second quarter sales improved and that the company’s main focus is to reduce debt.
Rossi, com sede em São Paulo, respondeu por e-mail a perguntas que as vendas do segundo trimestre melhoraram e que o foco principal da empresa é reduzir a dívida.
Gross debt fell about30 percent in the 12 months ended in June, Rossi said.
A dívida bruta caiu cerca de 30% nos 12 meses terminados em junho, disse Rossi.
A dívida bruta caiu cerca de 30% nos 12 meses terminados em junho, disse Rossi.
[8º PARÁGRAFO]
Home sales in Latin America’s biggest economy tumbled 14 percent in the first half of 2015, according to data from the national real estate institute.
Home sales in Latin America’s biggest economy tumbled 14 percent in the first half of 2015, according to data from the national real estate institute.
As vendas de imóveis na maior economia da América Latina caíram 14% no primeiro semestre de 2015, segundo dados do Instituto Nacional do Imóveis (INE).
Builders cut new projects by 20 percent during that span, while available financing shrank byabout a quarter.
As empresas de construção reduziram os novos projetos em 20% durante este período, enquanto o financiamento disponível diminuiu cerca de um quarto.
Real’s Collapse
Colapso do Real
[9º PARÁGRAFO]
That’s a reversal from just two years ago, when realestate prices in places like Rio de Janeiro and Sao Paulo had surged as much as 230 percent as rising incomes, a soaring real and record-low borrowing costs ignited a wave of home buying.
Trata-se de uma inversão em relação a há apenas dois anos, quando os preços dos imóveis em locais como o Rio de Janeiro e São Paulo subiram até 230%, à medida que o aumento dos rendimentos, a valorização do real e os custos de empréstimos a níveis historicamente baixos desencadearam uma onda de compras de imóveis.
That’s a reversal from just two years ago, when realestate prices in places like Rio de Janeiro and Sao Paulo had surged as much as 230 percent as rising incomes, a soaring real and record-low borrowing costs ignited a wave of home buying.
Trata-se de uma inversão em relação a há apenas dois anos, quando os preços dos imóveis em locais como o Rio de Janeiro e São Paulo subiram até 230%, à medida que o aumento dos rendimentos, a valorização do real e os custos de empréstimos a níveis historicamente baixos desencadearam uma onda de compras de imóveis.
[10º PARÁGRAFO]
Brazilians find themselves in drastically different circumstances today.
Brazilians find themselves in drastically different circumstances today.
Os brasileiros encontram-se hoje em circunstâncias drasticamente diferentes.
The currency fell 0.4 percent Wednesday as of 3:25 p.m. in New York, extending its loss this year to 26 percent.
A moeda caiu 0,4% na quarta-feira, às 15h25 em Nova Iorque, estendendo a sua queda este ano para 26%.
The jobless rate climbed to a five-year high of 7.5 percent last month.
A taxa de desemprego atingiu os 7,5%, a maior subida em cinco anos, no mês passado.
A taxa de desemprego atingiu os 7,5%, a maior subida em cinco anos, no mês passado.
[11º PARÁGRAFO]
The central bank boosted its key rate to 14.25 percent in July, making it ever more expensive to finance the purchase of a home.
The central bank boosted its key rate to 14.25 percent in July, making it ever more expensive to finance the purchase of a home.
O banco central aumentou a sua taxa de juro diretora para 14,25% em julho, tornando ainda mais caro o financiamento da compra de uma casa.
“It’s a matter of demand, and demand is really weak,” Will Landers, who manages Latin American stocks at BlackRock, said from Princeton, New Jersey.
"É uma questão de procura, e a procura está realmente fraca", disse Will Landers, gestor de ações latino-americanas na BlackRock, de Princeton, Nova Jérsia.
“We may havereached a peak in interest rates, but they should continue to be at these levels for a while. Consumers will stay on the sidelines because debt levels are still high, and employment will get worse.”
"Podemos ter atingido um pico nas taxas de juro, mas devem permanecer nesses níveis durante algum tempo. Os consumidores vão ficar à margem porque os níveis de dívida ainda são elevados e o emprego vai piorar."
- (Business Week at www.bloomberg.com/news Adapted)
76 – According to the block comprising the first four paragraphs,
(A) despite the recent recession in Brazil, the real-estate industry still represents one of the main economic powerhouses in the country.
(B) real estate businesses in Brazil are currently in their lowest position in relation to the economy of the country as a whole since the 1930s.
(C) there is a marked contrast in the economic situation of the Brazilian real-estate industry today if compared to just a few years ago.
(D) banks and real estate businesses are working together to try to offset the present crisis in the industry which Brazil is going through.
(E) the real-estate industry as a whole in Brazil has sold less than 300 properties in the first half of the current year of 2015.
(A) despite the recent recession in Brazil, the real-estate industry still represents one of the main economic powerhouses in the country.
(B) real estate businesses in Brazil are currently in their lowest position in relation to the economy of the country as a whole since the 1930s.
(C) there is a marked contrast in the economic situation of the Brazilian real-estate industry today if compared to just a few years ago.
(D) banks and real estate businesses are working together to try to offset the present crisis in the industry which Brazil is going through.
(E) the real-estate industry as a whole in Brazil has sold less than 300 properties in the first half of the current year of 2015.
• Gabarito C
According to the block comprising the first four paragraphs,
De acordo com o bloco que compreende os primeiros quatro parágrafos,
(A) despite the recent recession in Brazil, the real-estate industry still represents one of the main economic powerhouses in the country.
• apesar da recente recessão no Brasil, o setor imobiliário ainda representa uma das principais potências econômicas do país.
(B) real estate businesses in Brazil are currently in their lowest position in relation to the economy of the country as a whole since the 1930s.
• os negócios imobiliários no Brasil estão atualmente em sua posição mais baixa em relação à economia do país como um todo desde a década de 1930.
(C) there is a marked contrast in the economic situation of the Brazilian real-estate industry today if compared to just a few years ago.
• há um contraste marcante na situação econômica do setor imobiliário brasileiro hoje em comparação com apenas alguns anos atrás.
(D) banks and real estate businesses are working together to try to offset the present crisis in the industry which Brazil is going through.
• bancos e empresas do setor imobiliário estão trabalhando juntos para tentar compensar a atual crise do setor que o Brasil atravessa.
(E) the real-estate industry as a whole in Brazil has sold less than 300 properties in the first half of the current year of 2015.
• o setor imobiliário como um todo no Brasil vendeu menos de 300 imóveis no primeiro semestre deste ano de 2015.
77 – The third paragraph implies that
(A) with the high interest rates prevailing in the country, most people can’t buy real estate.
(B) the present inflation rate has not been experienced in Brazil since the first half of the twenty century.
(C) the real-estate industry is not dealing in the exporting market due to the high inflation rates Brazil is currently going through.
(D) when the domestic market is not operating properly, the real-estate industry should aim at the foreign markets.
(E) high inflation rates are a casualty of the weak business market in the real-estate industry in Brazil.
• Gabarito A
The third paragraph implies that
O 3º parágrafo sugere que
(A) with the high interest rates prevailing in the country, most people can’t buy real estate.
• com as altas taxas de juros prevalecentes no país, a maioria das pessoas não pode comprar um imóvel.
(B) the present inflation rate
• a atual taxa de inflação não é experimentada no Brasil desde a primeira metade do século vinte.
(C) the real-estate industry is not dealing in the exporting market due to the high inflation rates Brazil is currently going through.
• o setor imobiliário não está atuando no mercado exportador devido às altas taxas de inflação que o Brasil está atravessando atualmente.
(D) when the domestic market is not operating properly, the real-estate industry should aim at the foreign markets.
• quando o mercado interno não está operando adequadamente, o setor imobiliário deve visar o mercado externo.
(E) high inflation rates are a casualty of the weak business market in the real-estate industry in Brazil.
• as altas taxas de inflação são uma consequência do fraco mercado de negócios no setor imobiliário no Brasil.
78 – The evaluation of the real-estate company by Moody’s, as explained in the fifth paragraph,
(A) points out that its creditors will only receive 80% of what they invested this year.
(B) cut the company from stock exchange dealings causing losses for bondholders.
(C) reflects the fact that manufacturing activity in Brazil is harming other businesses.
(D) predicts that the company it is evaluating will close down within this calendar year.
(E) implies that the situation the company is in at this moment is not its own fault.
(A) points out that its creditors will only receive 80% of what they invested this year.
(B) cut the company from stock exchange dealings causing losses for bondholders.
(C) reflects the fact that manufacturing activity in Brazil is harming other businesses.
(D) predicts that the company it is evaluating will close down within this calendar year.
(E) implies that the situation the company is in at this moment is not its own fault.
• Gabarito E
The evaluation of the real-estate company by Moody’s, as explained in the fifth paragraph,
A avaliação da empresa imobiliária pela Moody's, conforme explicado no quinto parágrafo,
(A) points out that its creditors will only receive 80% of what they invested this year.
• sinaliza que seus credores receberão apenas 80% do que investiram neste ano.
(B) cut the company from stock exchange dealings causing losses for bondholders.
• cortou a empresa das negociações na bolsa de valores, causando perdas para os detentores de títulos.
(C) reflects the fact that manufacturing activity in Brazil is harming other businesses.
• reflete o fato de que a atividade fabril no Brasil está prejudicando outros negócios.
(D) predicts that the company it is evaluating will close down within this calendar year.
• prevê que a empresa que está avaliando fechará neste ano civil.
(E) implies that the situation the company is in at this moment is not its own fault.
• implica que a situação em que a empresa se encontra neste momento não é culpa dela.
79 – Rossi, one of the real-estate businesses mentioned in the article,
(A) lost 30% of its net value in the last calendar year.
(B) states that its situation has been improving recently.
(C) has stopped selling in order to focus on reducing its debt.
(D) seems to share exactly the same problems as PDG Realty S/A.
(E) stopped trading its stock in the market in 2010.
(A) lost 30% of its net value in the last calendar year.
(B) states that its situation has been improving recently.
(C) has stopped selling in order to focus on reducing its debt.
(D) seems to share exactly the same problems as PDG Realty S/A.
(E) stopped trading its stock in the market in 2010.
• Gabarito B
Rossi, one of the real-estate businesses mentioned in the article,
A Rossi, uma das imobiliárias citadas na reportagem,
(A) lost 30% of its net value in the last calendar year.
• perdeu 30% do valor líquido no último ano-calendário.
(B) states that its situation has been improving recently.
• afirma que sua situação tem melhorado recentemente.
(C) has stopped selling in order to focus on reducing its debt.
• parou de vender para focar na redução do endividamento.
(D) seems to share exactly the same problems as PDG Realty S/A.
• parece ter exatamente os mesmos problemas da PDG Realty S/A.
(E) stopped trading its stock in the market in 2010.
• deixou de negociar suas ações no mercado em 2010.
80 – Two years before the article was written, sales in real estate were high due to a few different reasons, among which was/were
(A) Brazilian currency devaluation.
(B) 230% rise in most people’s income.
(C) boost of Central Bank key rate.
(D) low interest rates from banks.
(E) climbing number of jobless individuals.
(A) Brazilian currency devaluation.
(B) 230% rise in most people’s income.
(C) boost of Central Bank key rate.
(D) low interest rates from banks.
(E) climbing number of jobless individuals.
• Gabarito D
Two years before the article was written, sales in real estate were high due to a few different reasons, among which was/were
Dois anos antes de o artigo ser escrito, as vendas de imóveis eram altas devido a alguns motivos diferentes, entre os quais estava / estavam
(A) Brazilian currency devaluation.
• Desvalorização da moeda brasileira.
(B) 230% rise in most people’s income.
• aumento de 230% na renda da maioria das pessoas.
(C) boost of Central Bank key rate.
• aumento da taxa básica do Banco Central.
(D) low interest rates from banks.
• baixas taxas de juros dos bancos.
(E) climbing number of jobless individuals.
• aumento do número de desempregados.
❑ TEXT 2: Read the text and answer questions 81 through 90When in trouble, shoot the messenger. This timehonoured approach to dealing with unwelcome news was much in evidence in China this week when nearly 200 people were rounded up and criminally charged with spreading “false” rumours about the stock market and the economy, or otherwise profiting from their travails.
Em caso de problemas, dispare sobre o mensageiro. Esta abordagem tradicional para lidar com notícias indesejadas tornou-se bem evidente na China esta semana, quando quase 200 pessoas foram detidas e acusadas criminalmente por espalharem boatos "falsos" sobre o mercado bolsista e a economia, ou por lucrarem com os seus problemas.
(A) freedom of the press is one of the main causes for lax market control.
(B) false rumours spread by the media can really affect the markets.
(C) old habits in China have changed drastically over the last decades.
(D) the Chinese State refuses to accept the natural rules of market.
(E) meetings of market operators and government regulators are common in China.
(B) was interested in making Party members each day richer by investing in the market.
(C) was able to control some of the effects of the market crash by using harsh measures.
(D) doesn’t know that there are more market investors than Party members in China.
(E) can’t actually control market factors in the economy of the country.
(C) will from now on control market investments more closely.
(D) is trying to lay the blame for its problems on the Western economies.
(E) must use an iron fist in order to have better control of the economy.
(B) state-directed capitalism is slowly being introduced in most Western economies.
(C) Western economies sometimes also act just like the Chinese are doing now.
(D) the free press in Western societies can really have a nefarious effect on the economy.
(E) both the Chinese and the European economies have more similarities than differences.
(B) thinks malicious journalists should be more tightly controlled even in Western countries.
(C) advises Western economies to take a different economic approach from that taken by China.
(D) considers hedge funds a major threat in free economies since they can manipulate markets to the extreme.
(E) believes that the challenges now faced by the Chinese economy are temporary and will not affect the West.
(B) efforts for industry modernization in China.
(C) a recent increase of robotics in China.
(D) a current paradox in the Chinese economy.
(E) the creation of more jobs by industry modernization.
(B) China is facing economic woes as it has been exporting less than it used to.
A China enfrenta dificuldades económicas, pois exporta menos do que antes.
(C) free-market reforms will never be achieved in China unless the government accepts a freer model for the press.
(D) the political power of the Communist Party is being somewhat threatened by the new type of journalism present in China.
(E) hedge funds and their short selling practices are likely to be controlled more carefully by the central power in China.
China has created a monster it can’t control
A China criou um monstro que não consegue controlar
By Jeremy Warner
3 Sep 2015
[1º PARÁGRAFO]
Em caso de problemas, dispare sobre o mensageiro. Esta abordagem tradicional para lidar com notícias indesejadas tornou-se bem evidente na China esta semana, quando quase 200 pessoas foram detidas e acusadas criminalmente por espalharem boatos "falsos" sobre o mercado bolsista e a economia, ou por lucrarem com os seus problemas.
[2º PARÁGRAFO]
One luckless financial journalist was ritually paraded on state TV, tearfully confessing his “crimes”. Meanwhile, the head of the Chinese desk of one London-based hedge fund group was summoned to a “meeting” with regulators, and hasn’t been heard of since. Her Chinese husband says “she’s gone on holiday”. We can only hope it is not to the re-indoctrination of the asbestos mines. Despite the massive progress of recent decades, old habits die hard.
Um jornalista financeiro azarado foi ritualmente exibido na TV estatal, confessando em lágrimas os seus "crimes". Entretanto, a chefe da secção chinesa de um grupo de hedge funds sediado em Londres foi convocada para uma "reunião" com os reguladores e nunca mais se ouviu falar dela. O seu marido chinês diz que "ela foi de férias". Só podemos esperar que não seja para a reintrodução das minas de amianto. Apesar do enorme progresso das últimas décadas, os velhos hábitos custam a desaparecer.
One luckless financial journalist was ritually paraded on state TV, tearfully confessing his “crimes”. Meanwhile, the head of the Chinese desk of one London-based hedge fund group was summoned to a “meeting” with regulators, and hasn’t been heard of since. Her Chinese husband says “she’s gone on holiday”. We can only hope it is not to the re-indoctrination of the asbestos mines. Despite the massive progress of recent decades, old habits die hard.
Um jornalista financeiro azarado foi ritualmente exibido na TV estatal, confessando em lágrimas os seus "crimes". Entretanto, a chefe da secção chinesa de um grupo de hedge funds sediado em Londres foi convocada para uma "reunião" com os reguladores e nunca mais se ouviu falar dela. O seu marido chinês diz que "ela foi de férias". Só podemos esperar que não seja para a reintrodução das minas de amianto. Apesar do enorme progresso das últimas décadas, os velhos hábitos custam a desaparecer.
[3º PARÁGRAFO]
China was meant to have embraced free market reform, yet these latest actions suggest an altogether different approach. Roughly summarised, it amounts to: “Reform good, but woe betide the free market if it doesn’t do what the high command wants it to.” When the stock market was going up, the Chinese authorities were perfectly happy to tolerate what, to virtually all Western observers, looked like a dangerously speculative bubble, vaingloriously believing it to be a fair reflection of the wondrous successes of the Chinese economy.
A China deveria ter adoptado a reforma do mercado livre, mas estas últimas acções sugerem uma abordagem completamente diferente. Em síntese, resume-se a: "A reforma é boa, mas ai do mercado livre se não fizer o que o alto comando deseja". Quando o mercado bolsista estava em alta, as autoridades chinesas toleraram com satisfação aquilo que, para praticamente todos os observadores ocidentais, parecia uma perigosa bolha especulativa, acreditando, vangloriamente, ser um reflexo justo dos extraordinários sucessos da economia chinesa.
China was meant to have embraced free market reform, yet these latest actions suggest an altogether different approach. Roughly summarised, it amounts to: “Reform good, but woe betide the free market if it doesn’t do what the high command wants it to.” When the stock market was going up, the Chinese authorities were perfectly happy to tolerate what, to virtually all Western observers, looked like a dangerously speculative bubble, vaingloriously believing it to be a fair reflection of the wondrous successes of the Chinese economy.
A China deveria ter adoptado a reforma do mercado livre, mas estas últimas acções sugerem uma abordagem completamente diferente. Em síntese, resume-se a: "A reforma é boa, mas ai do mercado livre se não fizer o que o alto comando deseja". Quando o mercado bolsista estava em alta, as autoridades chinesas toleraram com satisfação aquilo que, para praticamente todos os observadores ocidentais, parecia uma perigosa bolha especulativa, acreditando, vangloriamente, ser um reflexo justo dos extraordinários sucessos da economia chinesa.
[4º PARÁGRAFO]
The first rule of stock market investment – that share prices can go down as well as up – seems to have been almost wholly forgotten in the scramble for instant riches. When, inevitably, the stock market crashed, the authorities threw the kitchen sink at the problem, but they failed to halt the carnage.
A primeira regra do investimento no mercado bolsista – de que os preços das ações tanto podem cair como subir – parece ter sido quase totalmente esquecida na corrida à riqueza instantânea. Quando, inevitavelmente, o mercado bolsista caiu a pique, as autoridades esforçaram-se ao máximo para resolver o problema, mas não conseguiram travar a carnificina.
The first rule of stock market investment – that share prices can go down as well as up – seems to have been almost wholly forgotten in the scramble for instant riches. When, inevitably, the stock market crashed, the authorities threw the kitchen sink at the problem, but they failed to halt the carnage.
A primeira regra do investimento no mercado bolsista – de que os preços das ações tanto podem cair como subir – parece ter sido quase totalmente esquecida na corrida à riqueza instantânea. Quando, inevitavelmente, o mercado bolsista caiu a pique, as autoridades esforçaram-se ao máximo para resolver o problema, mas não conseguiram travar a carnificina.
[5º PARÁGRAFO]
This was an even ruder awakening – for it demonstrated to an already disillusioned public that policy-makers were no longer in control of events. Perhaps they hadn’t noticed, but there are today more Chinese with stock trading accounts – some 90 million – than there are members of the Communist Party – “just” 80 million. In any case, powerless before the storm, the authorities have instead turned to scapegoating.
Este foi um despertar ainda mais rude – pois demonstrou a um público já desiludido que os decisores políticos já não estavam no controlo dos acontecimentos. Talvez não se tivessem apercebido, mas hoje há mais chineses com contas em bolsa – cerca de 90 milhões – do que membros do Partido Comunista – "apenas" 80 milhões. De qualquer modo, impotentes perante a tempestade, as autoridades recorreram à busca de bodes expiatórios.
This was an even ruder awakening – for it demonstrated to an already disillusioned public that policy-makers were no longer in control of events. Perhaps they hadn’t noticed, but there are today more Chinese with stock trading accounts – some 90 million – than there are members of the Communist Party – “just” 80 million. In any case, powerless before the storm, the authorities have instead turned to scapegoating.
Este foi um despertar ainda mais rude – pois demonstrou a um público já desiludido que os decisores políticos já não estavam no controlo dos acontecimentos. Talvez não se tivessem apercebido, mas hoje há mais chineses com contas em bolsa – cerca de 90 milhões – do que membros do Partido Comunista – "apenas" 80 milhões. De qualquer modo, impotentes perante a tempestade, as autoridades recorreram à busca de bodes expiatórios.
[6º PARÁGRAFO]
Apparently more liberal, advanced economies, it ought to be said, are by no means averse to this kind of behaviour either. A few years back, Italian prosecutors charged nine employees of Standard & Poor’s and Fitch Rating with market abuse for daring to downgrade Italy’s credit rating, while it is still commonplace in France to blame Anglo-Saxon speculators and their cronies in the London press for any financial or economic setback.
Economias aparentemente mais liberais e avançadas, diga-se, também não são de todo avessas a este tipo de comportamentos. Há alguns anos, os procuradores italianos acusaram nove funcionários da Standard & Poor's e da Fitch Ratings de abuso de mercado por ousarem baixar a nota de crédito de Itália, enquanto em França ainda é comum culpar os especuladores anglo-saxónicos e os seus comparsas na imprensa londrina por qualquer revés financeiro ou econômico.
Apparently more liberal, advanced economies, it ought to be said, are by no means averse to this kind of behaviour either. A few years back, Italian prosecutors charged nine employees of Standard & Poor’s and Fitch Rating with market abuse for daring to downgrade Italy’s credit rating, while it is still commonplace in France to blame Anglo-Saxon speculators and their cronies in the London press for any financial or economic setback.
Economias aparentemente mais liberais e avançadas, diga-se, também não são de todo avessas a este tipo de comportamentos. Há alguns anos, os procuradores italianos acusaram nove funcionários da Standard & Poor's e da Fitch Ratings de abuso de mercado por ousarem baixar a nota de crédito de Itália, enquanto em França ainda é comum culpar os especuladores anglo-saxónicos e os seus comparsas na imprensa londrina por qualquer revés financeiro ou econômico.
[7º PARÁGRAFO]
Nor are Western governments and central bankers averse to a little market manipulation when it suits them. What is “quantitative easing” other than money printing to prop up asset prices, including stocks and shares? Chinese refusal to accept the judgments of “Mr Market”, it might be argued, is just a more extreme version of the same thing. Small wonder that European officials sometimes look longingly across at the state-directed capitalism practised in China, and pronounce it a model we might perhaps aspire to ourselves.
Os governos ocidentais e os banqueiros centrais também não se opõem a um pouco de manipulação do mercado quando lhes convém. O que é a "flexibilização quantitativa" senão a impressão de dinheiro para sustentar os preços dos activos, incluindo ações e obrigações? A recusa chinesa em aceitar os juízos do "Sr. Mercado", pode argumentar-se, é apenas uma versão mais extrema da mesma coisa. Não admira que as autoridades europeias olhem, por vezes, com cobiça para o capitalismo estatal praticado na China e o considerem um modelo a que talvez possamos aspirar a nós próprios.
Nor are Western governments and central bankers averse to a little market manipulation when it suits them. What is “quantitative easing” other than money printing to prop up asset prices, including stocks and shares? Chinese refusal to accept the judgments of “Mr Market”, it might be argued, is just a more extreme version of the same thing. Small wonder that European officials sometimes look longingly across at the state-directed capitalism practised in China, and pronounce it a model we might perhaps aspire to ourselves.
Os governos ocidentais e os banqueiros centrais também não se opõem a um pouco de manipulação do mercado quando lhes convém. O que é a "flexibilização quantitativa" senão a impressão de dinheiro para sustentar os preços dos activos, incluindo ações e obrigações? A recusa chinesa em aceitar os juízos do "Sr. Mercado", pode argumentar-se, é apenas uma versão mais extrema da mesma coisa. Não admira que as autoridades europeias olhem, por vezes, com cobiça para o capitalismo estatal praticado na China e o considerem um modelo a que talvez possamos aspirar a nós próprios.
[8º PARÁGRAFO]
As recent events have demonstrated, we should not. China’s stock market crash is not the work of malicious financial journalists and short-selling hedge funds, but a signal of difficult time ahead and perhaps even of an economic roadcrash to come. After nearly 35 years of spectacular progress, the Chinese economy faces multiple challenges on many fronts which are not going to be solved by denying harsh realities and imprisoning journalists.
Como os acontecimentos recentes demonstraram, não devemos. A queda do mercado bolsista da China não é obra de jornalistas financeiros mal-intencionados e de fundos de cobertura que vendem a descoberto, mas um sinal de tempos difíceis pela frente e talvez até de um colapso econômico iminente. Após quase 35 anos de progressos espetaculares, a economia chinesa enfrenta múltiplos desafios em muitas frentes que não serão resolvidos negando as duras realidades e prendendo os jornalistas.
As recent events have demonstrated, we should not. China’s stock market crash is not the work of malicious financial journalists and short-selling hedge funds, but a signal of difficult time ahead and perhaps even of an economic roadcrash to come. After nearly 35 years of spectacular progress, the Chinese economy faces multiple challenges on many fronts which are not going to be solved by denying harsh realities and imprisoning journalists.
Como os acontecimentos recentes demonstraram, não devemos. A queda do mercado bolsista da China não é obra de jornalistas financeiros mal-intencionados e de fundos de cobertura que vendem a descoberto, mas um sinal de tempos difíceis pela frente e talvez até de um colapso econômico iminente. Após quase 35 anos de progressos espetaculares, a economia chinesa enfrenta múltiplos desafios em muitas frentes que não serão resolvidos negando as duras realidades e prendendo os jornalistas.
[9º PARÁGRAFO]
The progress of recent decades belies an industrial sector which in truth has become quite seriously uncompetitive by international standards. Many of China’s factories need completely retooling to keep up with developments in robotics and other forms of mechanisation. Yet if industry is to get less labour intensive, this only further steepens the challenge of employment creation.
O progresso das últimas décadas desmente um sector industrial que, na verdade, se tornou bastante pouco competitivo para os padrões internacionais. Muitas fábricas chinesas precisam de ser completamente reequipadas para acompanhar os avanços da robótica e de outras formas de mecanização. No entanto, se a indústria se tornar menos intensiva em mão-de-obra, isso só aumentará ainda mais o desafio da criação de emprego.
The progress of recent decades belies an industrial sector which in truth has become quite seriously uncompetitive by international standards. Many of China’s factories need completely retooling to keep up with developments in robotics and other forms of mechanisation. Yet if industry is to get less labour intensive, this only further steepens the challenge of employment creation.
O progresso das últimas décadas desmente um sector industrial que, na verdade, se tornou bastante pouco competitivo para os padrões internacionais. Muitas fábricas chinesas precisam de ser completamente reequipadas para acompanhar os avanços da robótica e de outras formas de mecanização. No entanto, se a indústria se tornar menos intensiva em mão-de-obra, isso só aumentará ainda mais o desafio da criação de emprego.
[10º PARÁGRAFO]
It is reckoned that China needs to create some 20 million jobs a year just to keep pace with employment demand as the population shifts from land to town, eight million of them in high-end professions to cater for the country’s burgeoning output of graduates. China’s modernisation has created a monster which it is struggling to feed.
Estima-se que a China necessite de criar cerca de 20 milhões de empregos por ano apenas para acompanhar a procura de emprego, à medida que a população se desloca do campo para a cidade, oito milhões deles em profissões de alto nível para satisfazer a crescente produção de licenciados do país. A modernização da China criou um monstro que ela luta por alimentar.
It is reckoned that China needs to create some 20 million jobs a year just to keep pace with employment demand as the population shifts from land to town, eight million of them in high-end professions to cater for the country’s burgeoning output of graduates. China’s modernisation has created a monster which it is struggling to feed.
Estima-se que a China necessite de criar cerca de 20 milhões de empregos por ano apenas para acompanhar a procura de emprego, à medida que a população se desloca do campo para a cidade, oito milhões deles em profissões de alto nível para satisfazer a crescente produção de licenciados do país. A modernização da China criou um monstro que ela luta por alimentar.
[11º PARÁGRAFO]
As the export-growth story waned, China compensated by unleashing a massive investment boom, which internal demand is now struggling to keep up with, rendering many of the country’s shiny new constructs uneconomic and overburdened with bad debts.
À medida que a história do crescimento das exportações diminuía, a China compensou desencadeando um enorme boom de investimento, que a procura interna está agora a ter dificuldades em acompanhar, tornando muitas das novas construções brilhantes do país antieconómicas e sobrecarregadas com dívidas incobráveis.
As the export-growth story waned, China compensated by unleashing a massive investment boom, which internal demand is now struggling to keep up with, rendering many of the country’s shiny new constructs uneconomic and overburdened with bad debts.
À medida que a história do crescimento das exportações diminuía, a China compensou desencadeando um enorme boom de investimento, que a procura interna está agora a ter dificuldades em acompanhar, tornando muitas das novas construções brilhantes do país antieconómicas e sobrecarregadas com dívidas incobráveis.
[12º PARÁGRAFO]
The Chinese leadership looks to growth in consumption and service industries to plug the gap, but these new sources of demand can’t do so without further free-market reform, which in turn requires further loosening of the shackles of political control. Without growth, the Communist Party loses its political legitimacy, yet the old growth model is broken, and to achieve a new one, the authorities must cede the very power and influence that sustains them. Rumour-mongering journalists and short-selling speculators can only be blamed for so long.
The Chinese leadership looks to growth in consumption and service industries to plug the gap, but these new sources of demand can’t do so without further free-market reform, which in turn requires further loosening of the shackles of political control. Without growth, the Communist Party loses its political legitimacy, yet the old growth model is broken, and to achieve a new one, the authorities must cede the very power and influence that sustains them. Rumour-mongering journalists and short-selling speculators can only be blamed for so long.
A liderança chinesa procura o crescimento nos sectores do consumo e dos serviços para colmatar a lacuna, mas estas novas fontes de procura não o podem fazer sem novas reformas do mercado livre, o que, por sua vez, exige um abrandamento ainda maior das amarras do controlo político. Sem crescimento, o Partido Comunista perde a sua legitimidade política, mas o antigo modelo de crescimento está quebrado e, para alcançar um novo, as autoridades precisam de abdicar do poder e da influência que as sustentam. Os jornalistas espalhadores de boatos e os especuladores que vendem a descoberto só podem ser responsabilizados por um tempo limitado.
- (http://www.telegraph.co.uk. Adapted)
(A) freedom of the press is one of the main causes for lax market control.
(B) false rumours spread by the media can really affect the markets.
(C) old habits in China have changed drastically over the last decades.
(D) the Chinese State refuses to accept the natural rules of market.
(E) meetings of market operators and government regulators are common in China.
• Gabarito D
As informações contidas nos dois primeiros parágrafos dão a entender que...
(A) freedom of the press is one of the main causes for lax market control.
• a liberdade de imprensa é uma das principais causas do frouxo controle do mercado.
(B) false rumours spread by the media can really affect the markets.
(B) false rumours spread by the media can really affect the markets.
• falsos boatos espalhados pela mídia podem realmente afetar os mercados.
(C) old habits in China have changed drastically over the last decades.
(C) old habits in China have changed drastically over the last decades.
• os velhos hábitos na China mudaram drasticamente nas últimas décadas.
(D) the Chinese State refuses to accept the natural rules of market.
(D) the Chinese State refuses to accept the natural rules of market.
• o Estado chinês se recusa a aceitar as leis naturais do mercado.
(E) meetings of market operators and government regulators are common in China.
(E) meetings of market operators and government regulators are common in China.
• reuniões de operadores de mercado e reguladores governamentais são comuns na China.
82 – The third paragraph points out to the fact that the Chinese government
(A) accepted that the stock market could be bullish forever, without any risks.
(B) made the rest of the world believe that the Chinese economy was market controlled.
(C) tolerated free market rules in China in order to prevent a speculative bubble.
(D) convinced Communist Party members that market economy was good for the country.
(E) nuliffied the effects of possible speculative bubbles developing in the economy.
(A) accepted that the stock market could be bullish forever, without any risks.
(B) made the rest of the world believe that the Chinese economy was market controlled.
(C) tolerated free market rules in China in order to prevent a speculative bubble.
(D) convinced Communist Party members that market economy was good for the country.
(E) nuliffied the effects of possible speculative bubbles developing in the economy.
• Gabarito B
O 3º parágrafo aponta para o fato de que o governo chinês...
(A) accepted that the stock market could be bullish forever, without any risks.
• aceitou que o mercado de ações pudesse ser altista para sempre, sem riscos.
(B) made the rest of the world believe that the Chinese economy was market controlled.
(B) made the rest of the world believe that the Chinese economy was market controlled.
• fez o resto do mundo acreditar que a economia chinesa era controlada pelo mercado.
(C) tolerated free market rules in China in order to prevent a speculative bubble.
(C) tolerated free market rules in China in order to prevent a speculative bubble.
• tolerou as leis do mercado livre na China, a fim de evitar uma bolha especulativa.
(D) convinced Communist Party members that market economy was good for the country.
(D) convinced Communist Party members that market economy was good for the country.
• convenceu os membros do Partido Comunista de que a economia de mercado era boa para o país.
(E) nuliffied the effects of possible speculative bubbles developing in the economy.
(E) nuliffied the effects of possible speculative bubbles developing in the economy.
• anulou os efeitos de possíveis bolhas especulativas se desenvolvendo na economia.
83 – The fourth paragraph shows that the Chinese administration
(A) tried to protect investments from the ups and downs of the market.
(B) was interested in making Party members each day richer by investing in the market.
(C) was able to control some of the effects of the market crash by using harsh measures.
(D) doesn’t know that there are more market investors than Party members in China.
(E) can’t actually control market factors in the economy of the country.
(A) tried to protect investments from the ups and downs of the market.
(B) was interested in making Party members each day richer by investing in the market.
(C) was able to control some of the effects of the market crash by using harsh measures.
(D) doesn’t know that there are more market investors than Party members in China.
(E) can’t actually control market factors in the economy of the country.
• Gabarito E
The fourth paragraph shows that the Chinese administration
O 4º parágrafo mostra que o governo chinês
(A) tried to protect investments from the ups and downs of the market.
tentou proteger os investimentos das oscilações do mercado.
(B) was interested in making Party members each day richer by investing in the market.
estava interessado em enriquecer cada vez mais os membros do Partido investindo no mercado.
(C) was able to control some of the effects of the market crash by using harsh measures.
conseguiu controlar alguns dos efeitos da queda do mercado recorrendo a medidas severas.
(D) doesn’t know that there are more market investors than Party members in China.
não sabe que existem mais investidores de mercado do que membros do Partido na China.
(E) can’t actually control market factors in the economy of the country.
não consegue controlar os fatores de mercado na economia do país.
84 – In the last sentence of the fourth paragraph, the excerpt – the authorities have instead turned to scapegoating. – is used to show that the Chinese government
(A) wants to hide its blame for the economic problems in the country.
(B) are really keen on controlling the media in the country as a whole.
(C) will from now on control market investments more closely.
(D) is trying to lay the blame for its problems on the Western economies.
(E) must use an iron fist in order to have better control of the economy.
(A) wants to hide its blame for the economic problems in the country.
(B) are really keen on controlling the media in the country as a whole.
(C) will from now on control market investments more closely.
(D) is trying to lay the blame for its problems on the Western economies.
(E) must use an iron fist in order to have better control of the economy.
• Gabarito A
In the last sentence of the fourth paragraph, the excerpt – the authorities have instead turned to scapegoating. – is used to show that the Chinese government
Na última frase do quarto parágrafo, o excerto – as autoridades recorreram em vez disso à procura de bodes expiatórios. – é utilizado para mostrar que o governo chinês
(A) wants to hide its blame for the economic problems in the country.
quer esconder a sua culpa pelos problemas econômicos do país.
(B) are really keen on controlling the media in the country as a whole.
está realmente interessado em controlar os meios de comunicação social no país como um todo.
(C) will from now on control market investments more closely.
passará a controlar os investimentos de mercado mais de perto.
(D) is trying to lay the blame for its problems on the Western economies.
está tentando atribuir a culpa dos seus problemas às economias ocidentais.
(E) must use an iron fist in order to have better control of the economy.
necessita de usar punho de ferro para ter um melhor controlo da economia.
85 – The fifth and sixth paragraphs together show that
(A) European governments are extremely upset with the economic situation in China.
(B) state-directed capitalism is slowly being introduced in most Western economies.
(C) Western economies sometimes also act just like the Chinese are doing now.
(D) the free press in Western societies can really have a nefarious effect on the economy.
(E) both the Chinese and the European economies have more similarities than differences.
(A) European governments are extremely upset with the economic situation in China.
(B) state-directed capitalism is slowly being introduced in most Western economies.
(C) Western economies sometimes also act just like the Chinese are doing now.
(D) the free press in Western societies can really have a nefarious effect on the economy.
(E) both the Chinese and the European economies have more similarities than differences.
• Gabarito C
The fifth and sixth paragraphs together show that
O quinto e o sexto parágrafos juntos mostram que
(A) European governments are extremely upset with the economic situation in China.
os governos europeus estão extremamente incomodados com a situação econômica da China.
(B) state-directed capitalism is slowly being introduced in most Western economies.
o capitalismo de Estado está sendo lentamente introduzido na maioria das economias ocidentais.
(C) Western economies sometimes also act just like the Chinese are doing now.
as economias ocidentais também agem, por vezes, exatamente como os chineses estão fazendo agora.
(D) the free press in Western societies can really have a nefarious effect on the economy.
a imprensa livre nas sociedades ocidentais pode realmente ter um efeito nefasto na economia.
(E) both the Chinese and the European economies have more similarities than differences.
tanto a economia chinesa como a europeia apresentam mais semelhanças do que diferenças.
86 – In the excerpt from the sixth paragraph – European officials sometimes look longingly across at the state-directed capitalism practised in China – the use of the word “longingly” expresses and idea of
(A) extension.
(B) adequacy.
(C) difference.
(D) length.
(E) wish.
(A) extension.
(B) adequacy.
(C) difference.
(D) length.
(E) wish.
• Gabarito E
No trecho do 6º parágrafo - European officials sometimes look longingly across at the state-directed capitalism practised in China (as autoridades europeias às vezes olham desejosamente para o capitalismo dirigido pelo Estado praticado na China) - o uso da palavra "longingly" expressa uma ideia de
(A) extension (extensão).
(B) adequacy (adequação).
(B) adequacy (adequação).
(C) difference (diferença).
(D) length (comprimento).
(E) wish (desejo).
• "longingly"(desejosamente) expressa uma ideia de desejo.
87 – The seventh paragraph begins with the statement – As recent events have demonstrated, we should not. – which points out to the opinion of the author, meaning that he
(A) is extremely worried with the direction the Chinese economy is taking in recent times.
(B) thinks malicious journalists should be more tightly controlled even in Western countries.
(C) advises Western economies to take a different economic approach from that taken by China.
(D) considers hedge funds a major threat in free economies since they can manipulate markets to the extreme.
(E) believes that the challenges now faced by the Chinese economy are temporary and will not affect the West.
(B) thinks malicious journalists should be more tightly controlled even in Western countries.
(C) advises Western economies to take a different economic approach from that taken by China.
(D) considers hedge funds a major threat in free economies since they can manipulate markets to the extreme.
(E) believes that the challenges now faced by the Chinese economy are temporary and will not affect the West.
• Gabarito C
The seventh paragraph begins with the statement – As recent events have demonstrated, we should not. – which points out to the opinion of the author, meaning that he
O 7º parágrafo inicia-se com a afirmação – Como os acontecimentos recentes demonstraram, não devemos. – que aponta para a opinião do autor, significando que este
(A) is extremely worried with the direction the Chinese economy is taking in recent times.
está extremamente preocupado com o rumo que a economia chinesa tem vindo a tomar nos últimos tempos.
(B) thinks malicious journalists should be more tightly controlled even in Western countries.
acredita que os jornalistas mal-intencionados devem ser controlados com mais rigor, mesmo nos países ocidentais.
(C) advises Western economies to take a different economic approach from that taken by China.
aconselha as economias ocidentais a adotarem uma abordagem econômica diferente da adotada pela China.
(D) considers hedge funds a major threat in free economies since they can manipulate markets to the extreme.
considera os hedge funds uma grande ameaça às economias livres, dado que podem manipular os mercados ao extremo.
(E) believes that the challenges now faced by the Chinese economy are temporary and will not affect the West.
acredita que os desafios enfrentados pela economia chinesa são temporários e não afetarão o Ocidente.
88 – In relation to the job market, the eight and ninth paragraphs point to
(A) the advantages of labor intensive industries.
(B) efforts for industry modernization in China.
(C) a recent increase of robotics in China.
(D) a current paradox in the Chinese economy.
(E) the creation of more jobs by industry modernization.
(A) the advantages of labor intensive industries.
(B) efforts for industry modernization in China.
(C) a recent increase of robotics in China.
(D) a current paradox in the Chinese economy.
(E) the creation of more jobs by industry modernization.
• Gabarito D
In relation to the job market, the eight and ninth paragraphs point to
Em relação ao mercado de trabalho, o 8º e o 9º parágrafos apontam para
(A) the advantages of labor intensive industries.
as vantagens das indústrias intensivas em mão-de-obra.
(B) efforts for industry modernization in China.
os esforços para a modernização da indústria na China.
(C) a recent increase of robotics in China.
o recente aumento da robótica na China.
(D) a current paradox in the Chinese economy.
um paradoxo atual na economia chinesa.
(E) the creation of more jobs by industry modernization.
a criação de mais emprego através da modernização da indústria.
89 – According to the tenth paragraph,
(A) internal demand in China had to be reduced in order to prioritize exports.
(B) China is facing economic woes as it has been exporting less than it used to.
(C) Chinese industry is having a hard time to keep up with booming internal demand.
(D) bad debts will be reworked as more construction is developed in the country.
(E) more investments will be needed if the exporting boom is to rebound.
(A) internal demand in China had to be reduced in order to prioritize exports.
(B) China is facing economic woes as it has been exporting less than it used to.
(C) Chinese industry is having a hard time to keep up with booming internal demand.
(D) bad debts will be reworked as more construction is developed in the country.
(E) more investments will be needed if the exporting boom is to rebound.
• Gabarito B
According to the tenth paragraph,
De acordo com o 10º parágrafo,
(A) internal demand in China had to be reduced in order to prioritize exports.
a procura interna na China teve de ser reduzida para dar prioridade às exportações.
(B) China is facing economic woes as it has been exporting less than it used to.
A China enfrenta dificuldades económicas, pois exporta menos do que antes.
(C) Chinese industry is having a hard time to keep up with booming internal demand.
A indústria chinesa está a ter dificuldades em acompanhar o crescimento da procura interna.
A indústria chinesa está a ter dificuldades em acompanhar o crescimento da procura interna.
(D) bad debts will be reworked as more construction is developed in the country.
as dívidas incobráveis serão renegociadas à medida que forem realizadas mais construções no país.
as dívidas incobráveis serão renegociadas à medida que forem realizadas mais construções no país.
(E) more investments will be needed if the exporting boom is to rebound.
serão necessários mais investimentos para que o boom das exportações recupere.
90 – The last paragraph leads the reader to conclude that
(A) if China is to develop further, its government has to lessen its economic controls and lose some of its political power.
(B) the increase in internal consumption and in the service industries is the only way out for China to improve its economy.
(C) free-market reforms will never be achieved in China unless the government accepts a freer model for the press.
(D) the political power of the Communist Party is being somewhat threatened by the new type of journalism present in China.
(E) hedge funds and their short selling practices are likely to be controlled more carefully by the central power in China.
(B) the increase in internal consumption and in the service industries is the only way out for China to improve its economy.
(C) free-market reforms will never be achieved in China unless the government accepts a freer model for the press.
(D) the political power of the Communist Party is being somewhat threatened by the new type of journalism present in China.
(E) hedge funds and their short selling practices are likely to be controlled more carefully by the central power in China.
• Gabarito A
The last paragraph leads the reader to conclude that
O último parágrafo leva o leitor a concluir que
(A) if China is to develop further, its government has to lessen its economic controls and lose some of its political power.
para que a China se desenvolva ainda mais, o seu governo precisa de reduzir os seus controles econômicos e perder parte do seu poder político.
para que a China se desenvolva ainda mais, o seu governo precisa de reduzir os seus controles econômicos e perder parte do seu poder político.
(B) the increase in internal consumption and in the service industries is the only way out for China to improve its economy.
o aumento do consumo interno e do setor dos serviços é a única saída para a China melhorar a sua economia.
(C) free-market reforms will never be achieved in China unless the government accepts a freer model for the press.
as reformas do mercado livre nunca serão alcançadas na China a não ser que o governo aceite um modelo mais livre para a imprensa.
(D) the political power of the Communist Party is being somewhat threatened by the new type of journalism present in China.
o poder político do Partido Comunista está a ser de certa forma ameaçado pelo novo tipo de jornalismo presente na China.
(E) hedge funds and their short selling practices are likely to be controlled more carefully by the central power in China.
os fundos de cobertura e as suas práticas de short selling serão provavelmente controlados com mais cuidado pelo poder central na China.
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