RRJ#3

Bixi Li
EAP1-RRJ#3
April 12, 2010
Business

China and the yuan: What's at stake?
Reference:
Isidore, Chris (2010, April 10), China and the yuan: What’s at stake. Retrieved April 11, 2010, from CNN.com
http://money.cnn.com/2010/04/09/news/economy/yuan_dollar_revaluation/index.htm

Summary:
The yuan made goods more competitive with Chinese exports. The U.S and China want to make an agreement that the yuan is raised. The person who is a harsh critic of both the Bush and Obama administrations advocates threatening China with steep tax penalties to make China solve problems. Some economists agree with the yuan having a great space of appreciation and they suggest China and the U.S should pursue a smooth adjustment, because a dramatic change will cause another big financial problem out though the world. An overly undervalued yuan led to an asset bubble in China and a deficit in the U.S.
Some U.S manufacturers think a stronger yuan and a weaker dollar is good. Actually it is not. Labor cost is still lower in China. That means goods that are made in China will be more expensive than before for Americans. Thus, China does not need buy more U.S Treasury bonds, which would lead to higher interest rates on U.S Treasury, higher borrowing costs for people and a weak dollar which makes the price of imports from other countries increase.
Reaction:
I have read this article and watched the video from the website. Donald Trump, chmn.& pres. of Trump org, said China is the biggest manufacturing country; China takes money out and then loan money back; and Mr. Trump pays a lot of tax exporting from China. He feels very dissatisfied. From the American points of view, the U.S economy is heading for a downturn. As Mr. Trump said, they are suffering painfully. News form Chinese reports said that most of the enterprises get benefit from the appreciation of the yuan. Only the export rag trade will be affected slightly. And China’s economy is increasing strongly, and policy is proper. There would not be an asset bubble in China. Thus, everything has two sides. We should think critically. Personally, a rise of the yuan would be good for me, because I would spend less in the yuan exchange to the U.S dollar. I am happy about the yuan being appreciated.

Vocabulary:
1. currency—money
2. conference—meeting
3. strategist—a person who is good at planning activities
4. modest—not very important
5. dent—hurt, to damage
6. adjustment—a change made to something become better
7. an asset bubble—not a true situation about economy
8. recession—a difficult time for the economy of a country
9. steep—sudden and a big change
10. penalty—a punishment for breaking a law or rule
11. intensive—involving a lot of work done in a short time
12. massive—giant, very large, heavy and soild

RRJ#2

Bixi Li
EAP1
April 4, 2010
Business
Nissan Leaf electric car will cost $25,000

Reference:
Valdes Dapena, Peter, (2010, March 30). Nissan Leaf electric car will cost $25,000, retrieved March 30, 2010, from CNN.com
http://money.cnn.com/2010/03/30/autos/nissan_leaf_pricing/index.htm

Summary:
Nissan Company has introduced a new electric car, which costs about $25,280 after a tax credit, named Leaf. This price is cheaper than that of General Motors’ Chevrolet Volt, and the Volt will not compete with the Leaf on function. The Leaf will go on sale this December and will be more different from the leaf in the near future. Nissan’s director of product planning said that the Leaf still makes profit for Nissan even though it has a low sticker price, and vehicle’s batteries cost a lot. That is because they have been working on vehicle’s batteries for a long time; they have already paid for this technology. Many people are interested in the Leaf and they have already submitted deposits. These people will get some concessions. Furthermore, there are also benefits to buy the car by car loan. Some states have some policy on car loans to encourage buying an electric car. Nissan Company tries to keep the car cost at a low monthly price.
Reaction:
After I read this article, I thought of electric car as a new technology, which will tend to become normal. The most important thing for electric car is the vehicle’s batteries, which cost a lot of money and time to make. The Leaf just cost $25, 280, which is a really low price, and we charge the car at home that is very convenient and cheap. From the article, I know many people would like to buy an electric car. The economic crisis is hard now that is lead to the gas price increasing dramatically. Fewer and fewer people can afford the gas for a car. Thus, I think electric car will become popular in the near future. Protecting environment has been promoted by people for a long time, and electric cars are good for environment. Electric car will get a good evaluation. Although the profit of one electric car is low, a number of electric cars will make big profit. I will prefer to work at such a company, which has a potential project. I believe this project has a good future.
Vocabulary:
1. federal— a system of government in the individual states
2. considerably— much, a lot
3. version— from a form change to a similar form
4. lithium— a chemical element
5. ion— everything made by it( chemical)
6. competitive— things in same level and try to get which is better one
7. gasoline— gas
8. equip— facility
9. navigation— guide
10. connectivity— link
11. refundable— able to return
12. deposit— a sum of money paid before totally pay
13. incentive— encourage

RRJ1

Bixi Li

EAP1

March 27

Business

Reference:

Pepitone, J ( 2010, March 24). Summer job outlook is cloudy, Retrieved March 27, 2010, from CNN.com

http://money.cnn.com/2010/03/24/news/economy/summer_jobs/index.htm

Summary:

A summer job is hard to find this year. A survey from SnagAJob.com shows that seasonal workers will not be hired by 47% of hiring managers. Workers think this year it will be easier to get summer jobs than 2009 because of the economic recovery. Actually, the unemployment rate (9.7%) and the average salary for seasonal workers ($10.20 per hour) are the same as last year (9.7%). The good news for seasonal workers is that 53% of managers plan to hire for this season, and 29% of managers surveyed say they will hire the same number of people as last year. 47% of managers will not hire for this reason. However, employers have more choice in applicants; thus, for teens applying getting jobs will be harder.

53% of Surveys state that the majority of competition for seasonal workers will be amongst teens, while 29% state that competition will be amongst teens and adults. If teens want to get a job in summer, no matter what way, online, in stores, job fair, etc., they should search for it immediately. In such a grim situation, teens should pay more attention to interviews. Wearing a suit, having confidence, smiling and being polite are significant and basic for an interview. These tips will help teens gain a good impression in the interview; thus, increasing the probability of success in getting the job.

Reaction: After I read this article, I knew some information about the situation of finding a job this summer and how one can do better to get a job in an interview. It is also hard to find a job this year and the number of people who lost jobs is the same as in 2009, even though the economy is recovering. The situation is really bad for teens and college students, because most American teens use the money they earned in summer to pay their tuition for next year. If they cannot get a job in the summer, some of them cannot afford their tuition for next year; this means, they will not finish their school on time. More serious, this situation will lead to a shortage in the labor market. This news shows me that the U.S economic situation is not optimistic; thus, if someone wants to get a job this summer, they need to be well prepared. Dress up with a smile to show self-confidence, to tell interviewers that they are the best for this job. Not only answer their questions correctly, but also ask them some question. This is a good way to tell employers how much they want the job and they are ready for the job. And I have already told my friend who wants to work this summer this news. Let him find a job as soon as possible and be ready for interviews. This article is useful for me.

Vocabulary:

1. despite-- although (prep.)

2. recent—beginning to exist; not yet fully developed. (adj.)

3. recovery—the process of improving or becoming stronger again (noun)

4. aid—in the middle of or during sth ( prep.)

5. recession—a difficult time for the economy of a country, the economy become bad ( noun)

6. abate—decrease; to become less strong; to make sth less strong ( verb)

7. prospect—an idea of what might or will happen in the future ( noun)

8. versus— opposite of each other. ( prep)

9. climate—a situation ( noun)

10. gig—a job, especially a temporary one ( noun)

11. counterpart— a person or thing that has the same position or function as sb/sth else in different place or situation. (noun)