2024 金管局英语阅读 · 词汇 → 句型 → 原文译文

2026-11-03 10:35:00上一篇 / 下一篇

顺序说明:先看本篇词汇(含 20 道题干与选项中的词),再看句型句式,最后读原文译文;题目与答案随每篇放在译文之后 词汇口径:4 篇原文+20 题的实词去重,按篇内出现次数降序,共 741 个;虚词(the/of/to 等)不列 配套:全量词表 词汇表-全量释义.md|总索引 00-总索引.md

一、本篇词汇(741 个)

词次数中文
market30市场
work23工作;起作用
facebook14脸书(公司名)
housing13住房;住宅
people13人们
case12案例;情况
government12政府
google10谷歌
free9自由的;免费的
microsoft8微软
back7回;背部;支持
money7钱;货币
public7公共的;公众
antitrust6反垄断的
author6作者
careers6职业(复数)
debate6辩论;争论
feel6感觉
ftc6联邦贸易委员会
happiness6幸福
home6家;住宅
less6更少
lives6生活(复数);生命
paragraph6段落
safety6安全
says6说(第三人称单数)
against5反对;与……相对
deals5交易(复数)
financial5财政的;金融的
homeowners5房主(复数)
houses5房子(复数)
many5许多
million5百万
mortgage5抵押贷款
need5需要
one5一个;一
power5权力;力量
risk5风险
rules5规则(复数)
cases4案例(复数)
good4好的;利益
instagram4Instagram(应用名)
it's4它是
line4线;行
makes4使;制造(第三人称单数)
markets4市场(复数)
means4手段;意味着
monetary4货币的
needs4需求(复数)
owe4欠(钱)
price4价格
prices4价格(复数)
rich4富有的
take4拿;花费;采取
whatsapp4WhatsApp(应用名)
worth4值得
according3根据(according to)
achieved3实现(过去式)
agency3机构
big3大的
changes3变化(复数)
complaint3诉状
equity3权益;资产净值
fear3恐惧
get3得到;变得
going3去;进行
guardian3卫报(The Guardian)
happen3发生
high3高的
human3人类的;人
interests3利益(复数)
job3工作;职位
law3法律
learn3学习
life3生活;生命
love3爱;热爱
make3使;制造
much3许多;很
negative3负的
new3新的
normal3正常的
passage3文章
percent3百分之……
preserve3保留
purpose3目的
really3真正地
requires3需要(第三人称单数)
safe3安全的
search3搜索
strategy3战略
super3超级的
trade3贸易;交易
true3真的;真实的
view3观点;看待;景色
vs3对(versus)
want3想要
whether3是否
years3年(复数)
achieve2实现
across2横跨;遍及
advanced2发达的
agree2同意
america2美国;美洲
another2另一个
attention2注意力
bank2银行
banks2银行(复数)
benefit2好处;受益
better2更好的
bidding2竞价
black2黑的;(in the black)盈利
breaking2拆分(动名词)
breakup2拆分
broke2爆发(break 过去式)
business2商业;生意
buy2买
cardozo2卡多佐(学院名)
choose2选择
company2公司
competition2竞争
crisis2危机
danger2危险
decades2几十年(复数)
desires2愿望(复数)
dissatisfaction2不满
distract2使分心
doj2司法部
doj's2司法部的
economic2经济的
economy2经济
enforcement2执法
engines2引擎(复数)
expected2预期的
expose2揭露
exposing2揭穿(动名词)
fearful2害怕的
federal2联邦的
five2五
foreclosure2止赎
fully2完全地
fundamentalism2原教旨主义
future2未来
go2去;变得
great2巨大的;伟大的
halved2减半(过去式)
happy2快乐的
hit2打击;达到
holders2持有人(复数)
hubbard2哈伯德(姓氏)
ideas2观念(复数)
inequalities2不平等(复数)
interest2兴趣;利息;利益
interminable2无休止的
internet2互联网
jobs2工作(复数)
jolted2震动(过去式)
justice2公正
keep2保持
lawsuit2诉讼
legal2法律的
live2生活;居住
long2长的;长久
media2媒体
meeting2满足(动名词);会议
mission2使命
move2移动;搬家
myth2神话
natural2自然的
net2网络;净的
next2下一个;接下来
often2经常
operating2运营的
opportunity2机会
ourselves2我们自己
owing2由于(owing to)
package2一揽子;打包
part2部分
pay2支付;薪酬
paycheck2薪水
peak2峰值
position2位置;地位
promote2促进
protect2保护
rate2比率;速度
real2真实的
receiving2收到(动名词)
recover2恢复
recovered2痊愈(过去分词)
remain2保持;仍然
results2结果(复数)
rising2上升的
role2角色
rose2上升(rise 过去式)
said2说(say 过去式)
sally2萨莉(人名)
sell2卖
serve2服务
servers2服务器(复数)
since2自从;因为
social2社会的
something2某事
stay2停留
suggests2表明(第三人称单数)
superiority2优越性
th2(序数词后缀残留,忽略)
that's2那是
throw2抛;使陷入
time2时间;次数
title2头衔;标题
together2一起
tolerate2容忍
trapped2被困
two2二
underlying2底层的
underwater2水下的;资不抵债的
unfulfilled2未实现的
unhappy2不快乐的
until2直到
value2价值
wars2战(复数)
way2方式;道路
weinstein2温斯坦(人名)
whatever2无论什么
word2单词
abusing1滥用(动名词)
accident1意外
accidents1意外(复数)
achieving1实现(动名词)
acquire1获得;收购
acquisition1收购;获得
acquisitions1收购(复数)
act1行动;法案;表演
actually1实际上
adheres1遵循(adheres to)
administrative1行政的
advertising1广告
advocates1支持者(复数)
afford1负担得起
agencies1机构(复数)
ago1以前
agreements1协议(复数)
almost1几乎
along1沿着
alphabet's1字母表公司的
altered1修改(过去分词)
america's1美国的
americans1美国人(复数)
apart1分开
approved1批准(过去式)
areas1领域(复数)
argued1主张(argue 过去式)
argues1主张(第三人称单数)
arguing1主张(动名词)
attack1攻击
attitudes1态度(复数)
avoid1避免
balance1平衡
basic1基本的
battles1战役(复数)
become1变成
behind1在……之后
believes1认为(第三人称单数)
benefits1好处(复数)
best1最好的
beyond1超出
biggest1最大的
bit1一点
bold1大胆的
bound1必定
breaks1休息;打破(第三人称单数)
breed1滋生(动词)
broad1广泛的
broader1更广泛的
browser1浏览器
browsers1浏览器(复数)
bubble1泡沫
call1称为;打电话
called1被称为
can't1不能
cannot1不能
capable1能够的
captured1俘获
cares1(cases 的 OCR 错字)案件
causing1导致(动名词)
central1中央的
centuries1世纪(复数)
century1世纪
certainly1当然
chairman1主席
challenges1挑战(复数)
changed1改变(过去式)
character1性格;人物
charged1指控(过去式)
chill1抑制
clarify1澄清
cling1紧抓
clone1克隆
closest1最接近的
collapsed1破裂(过去式)
column1专栏
comes1来(第三人称单数)
comfortably1稳稳地
commercial1商业的
commission1委员会
committed1致力于的
communications1通信(复数)
companies1公司(复数)
compatible1可共存的
competes1竞争(第三人称单数)
concerns1担忧(复数)
condemning1谴责(动名词)
condition1状况;条件
conditions1条件(复数)
consequences1后果(复数)
conservative1保守的
consistent1一致的
consummated1已完成的
continue1继续
contrary1相反的
contrast1对比
contributes1导致(第三人称单数)
conventional1常规的
convince1说服
cornered1逼入绝境
corp1公司(Corp.)
countries1国家(复数)
country1国家;乡村
course1课程;过程
court1法院
courts1法院(复数)
creates1创造(第三人称单数)
criteria1标准(复数)
criticize1批评
criticized1批评(过去分词)
curtail1遏制
cynicism1愤世嫉俗
database1数据库
deal1交易;处理
dec1十二月
decency1规范
decisions1决定(复数)
defects1缺陷(复数)
demands1要求(复数/第三人称单数)
democracies1民主国家(复数)
denies1剥夺(第三人称单数)
department1部门
depressed1沮丧的
depression1抑郁
desire1欲望
despite1尽管
detroit1底特律
development1发展
didn't1没有(did not)
different1不同的
dignity1尊严
director1主管
disappears1消失(第三人称单数)
dissatisfying1令人不满的
distorting1扭曲(动名词)
distracting1分散注意力的
disturbed1不安的
divine1神授的
doesn1(does 的否定缩写残留,忽略)
doesn't1不(does not)
doing1做(动名词)
dominant1主导的
doomed1注定
door1门
dunk1扣篮
early1早期的
easier1更容易
economies1经济体(复数)
economists1经济学家(复数)
efficient1高效的
elaborate1阐述
emanate1源自
end1结束;末端
energy1能量;精力
enforce1执行
engages1引起(第三人称单数)
equation1等式
escalation1升级
especially1尤其
estate1房地产
everyday1日常的
examination1考试;检查
examine1审视;检查
exclusive1排他的
exercised1行使(过去分词)
exercises1行使(第三人称单数)
existing1现有的
exists1存在(第三人称单数)
exited1走出(过去式)
experience1经验;经历
explorer1IE 浏览器(Internet Explorer)
express1表达
extent1程度
facebook's1Facebook 的
faces1面临(第三人称单数)
fact1事实
fair1公平的
fairly1公平地
false1错误的
familiar1熟悉的
feature1特点
filings1申请;备案(复数)
financed1资助(过去分词)
find1发现;找到
first1第一;首先
focuses1聚焦(第三人称单数)
folks1人们
follow1跟随;随之而来
following1接下来的
foot1脚(get a foot in the door)
force1迫使
four1四
framework1框架
frequently1频繁地
friday1星期五
ftc's1FTC 的
fulfill1实现
fundamental1根本的
funds1资金(复数)
gain1获益
gains1收益(复数)
game1游戏(rules of the game)
generate1创造
generated1产生(过去分词)
giant's1巨头的
giants1巨头(复数)
gone1消失(go 过去分词)
government's1政府的
greed1贪婪
greediness1贪婪
grow1增长
gudell1古德尔(姓氏)
gun1枪(smoking gun 确凿证据)
handicap1阻碍
hanging1悬;死守
happened1发生(过去式)
hard1困难的;努力地
hardest1受创最重的
harming1伤害(动名词)
hasn't1没有
helps1有帮助(第三人称单数)
highly1高度地
hire1雇用;出租
homes1家(复数)
hope1希望
hours1小时(复数)
ideal1理想的
idealistic1理想化的
illegal1非法的
illusory1虚幻的
illustrate1说明
imagine1想象
implications1影响(复数)
importance1重要性
important1重要的
impossible1不可能
inc1公司(Inc.)
includes1包括(第三人称单数)
income1收入
individually1分别地
inequality1不平等
informed1有见识的
innovative1创新的
insecurity1不安全感
install1安装
institute1研究所
integrate1整合
interview1采访
intrude1闯入
intrudes1闯入(第三人称单数)
involves1涉及(第三人称单数)
joe1乔(人名)
judge1法官
kind1种类
kings1国王(复数)
know1知道
lacks1缺乏(第三人称单数)
las1拉斯(Las Vegas)
last1最后的;持续
late1晚些时候
laws1法律(复数)
lax1宽松的
learned1学会(learn 过去式)
legislatures1立法机关(复数)
lesson1教训
levels1水平(复数)
liability1责任
lies1在于(第三人称单数)
like1像;喜欢
likely1可能的
limitations1局限(复数)
literally1字面上;简直
longer1更久
looked1看(look 过去式)
looks1看(第三人称单数)
maintains1维护(第三人称单数)
making1制造(动名词)
managing1管理(动名词)
manufacturers1制造商(复数)
marsha1玛莎(人名)
mean1意味着;吝啬的
meaning1含义
measure1措施;衡量
men1男人(复数)
merger1合并
messy1麻烦的
milestone1里程碑
minds1头脑(复数)
moderate1缓和的;适度的
modern1现代的
moment1时刻
monday1星期一
moneyed1有钱的
monopolize1垄断
monopoly1垄断
mythologies1神话(复数)
myths1神话(复数)
necessary1必要的
necessity1必需品;必要
neighborhoods1社区(复数)
networks1网络(复数)
never1从不
nothing1没有什么
notion1观念
nowadays1如今
objective1目标
offensive1进攻
ones1那些(代词)
online1在线的
open1开放的;打开
order1顺序;命令;秩序
outside1外面
owed1欠(过去式)
para1段落(paragraph 缩写)
paradoxical1自相矛盾的
paragraphs1段落(复数)
pare1削减(pare back)
party1党派
patient1病人
people's1人们的
perhaps1也许
perplexing1令人困惑的
personal1个人的
persuade1说服
phenomenon1现象
phoenix1凤凰城
phones1手机(复数)
phrase1短语
places1地方(复数)
plan1计划
play1玩;起作用
pleasure1乐趣
poisoned1毒害(过去分词)
political1政治的
positions1地位(复数)
powerful1强大的
precedent1先例
predict1预测
preferred1更受青睐
pressure1压力
prevail1占上风
prevailing1流行的
privacy1隐私
prized1珍贵的
process1过程
professor1教授
profitable1有利可图的
profoundly1深深地
promoted1推广(过去式)
prying1撬开(动名词)
public's1公众的
publications1出版物(复数)
purchases1购买(复数)
pursuing1采取(动名词)
push1推动
pushed1推动(过去式)
pushing1推动(动名词)
rare1罕见
rates1比率;利率(复数)
rather1相当;宁可
reaching1达到(动名词)
realities1现实(复数)
reasoned1有理有据地(过去式)
recent1最近的
redraw1重划
redress1纠正
reduce1减少
refer1指代
reflecting1反映(动名词)
refuse1拒绝
regulatory1监管的
relief1救济;缓解
relocation1搬迁
remedy1补救
reorganization1重组
repay1偿还
reports1报道(复数)
represent1代表
represents1代表(第三人称单数)
require1需要
research1研究
respectively1分别
revealing1揭示(动名词)
reverse1反向的;颠倒
revisiting1重翻(动名词)
reward1回报
right1权利(Divine Right)
rise1上升
risky1有风险的
robust1激烈的
runs1冒……风险(runs the risk)
sacrifice1牺牲
sacrificing1牺牲(动名词)
sam1萨姆(人名)
school1学校
section1条(Section 230)
sector1行业;部门
security1安全
seeing1看见(动名词)
seek1试图
seeking1寻求(动名词)
seem1似乎
sense1感觉;意义
serves1充当(第三人称单数)
set1设置;一套
seven1七
shield1豁免(保护伞)
shocked1震惊的
show1显示;展示
shunning1回避(动名词)
silicon1硅
simetar1西内塔(姓氏)
similarly1同样
simons1西蒙斯(姓氏)
slam1猛击(slam dunk)
smoking1吸烟
society1社会
software1软件
solely1仅仅
somehow1不知怎么地
somewhat1有点
somewhere1某处
soon1不久
spend1花费
spirit1精神
splinting1(splitting 的拼写错误)拆分
sponsors1赞助商(复数)
stable1稳定的
staking1圈占(staking out)
startling1惊人的
state1州;国家;状态
states1州(复数);状态
stick1坚持;粘
strap1捆;绑
structural1结构性的
structure1结构
struggle1挣扎
subdued1低迷的
success1成功
sued1起诉(过去式)
suit1诉讼
surprising1惊人的
sustains1维持(第三人称单数)
svenja1斯文娅(人名)
system1系统;制度
tale1故事
targeting1针对(动名词)
teaches1任教(第三人称单数)
tech1科技
technology1技术
tend1倾向于
territory1领域
text1正文
think1思考
thinks1认为(第三人称单数)
threatened1受威胁的
three1三
today1今天;当今
today's1当今的
total1总的
towards1朝向
traditional1传统的
traits1特征(复数)
transactions1交易(复数)
trauma1创伤
treat1对待;看作
trial1审判
truth1真相
trying1试图(动名词)
turn1转变;轮到
ultimately1最终
unable1不能的
uncertain1不确定的
uncertainty1不确定性
undertaken1进行(过去分词)
undoubtedly1无疑
unheard1闻所未闻
unintended1意外的
unique1独特的
universe1宇宙
university1大学
unwind1撤销
useful1有用的
uses1使用(第三人称单数);用途
using1使用(动名词)
usually1通常
utterly1完全地
valley1山谷
vegas1维加斯
violated1违反(过去式)
virtually1几乎
waiting1等待(动名词)
ward1病房
warranted1有正当理由的
watershed1分水岭
ways1方式(复数)
wealth1财富
weekends1周末(复数)
weekly1每周的
weeks1周(复数)
welfare1福祉
widen1扩大
win1赢
winning1胜诉(动名词)
wish1希望
won't1不会
words1词语(复数)
worked1工作(过去式);奏效
working1工作(动名词)
world1世界
worst1最糟的
worthwhile1有价值的
write1写
writing1写作
year1年
yeshiva1叶史瓦(大学)
zillow1Zillow(网站)

二、本篇句型与固定表达

2.1 句型模板

结构次数中文
as … as3像……一样
it is … that(强调句)1正是……
more … than1比……更
tend to1倾向于
such … that1如此……以至于
what makes … is1让……的是
contribute to1导致、促成
refer to1指代、提及

2.2 固定表达

短语次数中文
rather than1而不是
in other words1换言之
in fact1事实上
cling to1紧抓不放
play it safe1稳妥为上
by contrast1相比之下
as long as1只要
stake out1圈占
get a foot in the door1入门
slam-dunk1十拿九稳

三、原文与译文

篇一|美国房市的“负资产”后遗症(101–105)

原文 / 译文

¶1

The housing market exited the trauma ward in 2021. Prices rose as much as 30 percent in some areas, bidding wars broke out and the foreclosure rate halved from its peak. But the patient is by no means fully recovered. In fact, five years after the housing bubble collapsed, one in five mortgage holders still owe more than their home is worth.

译| 房地产市场在 2021 年走出了“急救室”。部分地区房价上涨多达 30%,竞价战频发,止赎率从峰值减半。但这个“病人”远未痊愈。事实上,房地产泡沫破裂五年后,每五个房贷持有人中就有一个欠款超过房屋价值。

¶2

At its worst in early 2020, almost 16 million Americans were underwater on their mortgage. In some of the hardest-hit neighborhoods, such as Las Vegas, Phoenix and Detroit, 70 percent of homeowners owed more than the value of their home. Since then, rising home prices have pushed 5 million homeowners back into the black, but 11 million out of a total of 50 million mortgage holders remain in what financial folks call a negative equity position.

译| 2020 年初最糟时,近 1600 万美国人的房贷处于“溺水”状态(欠款高于房价)。在拉斯维加斯、凤凰城、底特律等受创最重的社区,70% 的房主欠款超过房屋价值。此后房价上涨让 500 万房主“回到水面以上”,但 5000 万房贷持有人中仍有 1100 万处于金融界所说的“负资产”状态。

¶3

“This is the new normal in the housing market,” said Svenja Gudell, director of economic research at Zillow, an online real estate database. “We will have high levels of negative equity for some time.” With mortgage rates rising and expected to hit 5 percent late next year, many economists predict a more subdued housing market in 2022. That means price gains should moderate and it could take a while longer for homeowners who are underwater to recover.

译| “这是房地产市场的新常态,”在线房地产数据库 Zillow 的经济研究主管斯文娅·古德尔说,“高水平的负资产还会持续一段时间。”随着房贷利率上升并预计明年晚些时候触及 5%,许多经济学家预测 2022 年房市将更低迷。这意味着房价涨幅会放缓,溺水房主翻身所需的时间会更长。

¶4

Out of the 75 million homeowners in America, about one in seven stay trapped in their homes, unable to move or sell. Housing prices have gone up and down over the decades, but until the financial crisis of 2008, it was rare to owe a bank more than a home is worth. For all of the 19th century and even during the Great Depression, this was virtually unheard of. Until all the negative equity disappears, the housing market won't be back to normal. It looks like we still have years to go.

译| 美国 7500 万房主中,约七分之一被困在自己家里,既不能搬走也不能出售。几十年来房价有涨有跌,但在 2008 年金融危机之前,欠银行的钱超过房屋价值的情况很罕见。整个 19 世纪,甚至大萧条时期,这几乎闻所未闻。在负资产全部消失之前,房地产市场不会恢复正常。看来我们还得等好几年。

题目与答案

101. Why doesn't the author think the housing market is fully recovered?

A. In some places, housing prices rose as much as 30%. B. There were bidding wars broke out frequently. C. The foreclosure rate halved from its peak. D. Some homeowners owe more than the value of their home.

答案 D|题型:细节·原因|定位:¶1 “But the patient is by no means fully recovered… one in five… owe more”|陷阱:A/B/C 都是好转迹象,D 才是“未痊愈”的证据

102. What does the phrase “back into the black” (Line 4, Paragraph 2) mean?

A. Repay all their mortgage. B. Become depressed again. C. Back into a profitable state. D. Get their houses back.

答案 C|题型:词义(画线短语)|定位:¶2 “pushed 5 million homeowners back into the black”|陷阱:in the black=资产为正/不欠钱,与 in the red 相对

103. Why do people feel trapped in their own houses?

A. Because they cannot move out from their houses. B. Because their houses are worth less than they owe. C. Because banks require them to stay in their houses. D. Because they can't afford to buy new ones.

答案 B|题型:细节·原因|定位:¶4 “trapped… it was rare to owe a bank more than a home is worth”|⚠️ 机构答案 C 有误:被困是因为卖房不够还贷,不是银行强制

104. What does the word “this” (Line 3, Para. 4) refer to?

A. Owing a bank more than a home is worth. B. The housing price is too high for people to buy. C. There are so many people owing banks' money. D. The financial crisis sustains in America.

答案 A|题型:指代(画线词)|定位:¶4 “it was rare to owe a bank more than a home is worth… this was virtually unheard of”|陷阱:指代上一句整件事

105. What can we learn from the last paragraph?

A. The housing price will rise again in 2024. B. The housing price will never go up again. C. The housing market will not be back to normal soon. D. The housing market can recover in 2024.

答案 C|题型:推断|定位:¶4 “we still have years to go”|陷阱:房市短期不会恢复正常


篇二|安稳工作的代价(106–110)

本篇与 2022 年第四篇(116–120)为同一篇文章,仅个别措辞不同(2024 版多 “security”,2022 版为 “prospects”)。译文、生词见 2022.md 篇四,此处只列题目与本题套路。

原文差异对照

¶1 相同:fear is a natural human condition / stick with the familiar / a big trade-off。

¶2 2024 版作 “reflecting such criteria as pay, title and security”,2022 版作 “pay, title and prospects”。

¶3 结尾相同:“do what you love, the money will follow”。

题目与答案

106. From the first paragraph we can learn that ________.

A. fear is one of the fundamental traits in human character defects B. people tend to keep stable work to avoid the fear of changes C. the paycheck makes people feel safe about their work D. people feel less fearful under natural human conditions

答案 B|题型:细节·推断|定位:¶1 “We feel less threatened when we stick with the familiar”|陷阱:留在稳定岗位是规避变化恐惧

107. “But the safety net we preserve requires a big trade-off.” The author means ________.

A. people need to do business when managing work and life B. men can feel safe when receiving money C. safety means sacrificing the balance between monetary needs and the happiness of work D. safety can be achieved by meeting both our desires and monetary needs

答案 C|题型:句意|定位:¶1 “denies us the opportunity to experience work that makes us happy”|陷阱:取舍=用快乐换安稳

108. According to the passage, when changes throw our work lives into danger, we will usually ________.

A. express great dissatisfaction with the job B. feel uncertain about the risk C. take another work opportunity D. remain in the work position

答案 D|题型:细节|定位:¶3 “some of us still cling to our jobs”|⚠️ 机构答案 C 有误:原文明确“坚守原岗”

109. We can learn from the passage that ________.

A. people struggle between the ideal work and monetary needs B. people do not have a sense of mission nowadays C. happiness and money can be both achieved during work in most cases D. the development of our careers is doomed to happen

答案 A|题型:主旨·推断|定位:¶2 “only reward is money” + ¶3 “happiness… demands risk”|陷阱:理想与金钱之间的挣扎

110. The purpose of the author in writing the passage is to ________.

A. persuade people to choose careers with purpose B. criticize the phenomenon of working for money C. elaborate people's attitudes towards work and safety D. illustrate how to achieve safety of work lives

答案 A|题型:写作目的|定位:¶3 “do what you love, the money will follow”|陷阱:劝人选热爱的事业


篇三|FTC 诉 Facebook:两场反垄断战(111–115)

原文 / 译文

¶1

The U.S. Federal Trade Commission (FTC) jolted the markets on Dec. 9th with filings that seek to force Facebook Inc. to sell Instagram and WhatsApp. The FTC is trying to achieve something that hasn't happened in four decades: the breakup of one of America's biggest companies. What makes the case all the more surprising is that it's the FTC, often criticized for lax enforcement, and not the U.S. Department of Justice (DOJ), pushing for the breakup. “The Facebook case is a really big deal,” says Sam Weinstein, who teaches at the Cardozo School of Law at Yeshiva University. “If we imagine the government winning and breaking up Facebook, that's a milestone.”

译| 12 月 9 日,美国联邦贸易委员会(FTC)向市场投下震撼弹:提交诉状,要求强制 Facebook 出售 Instagram 和 WhatsApp。FTC 正试图做成四十年未成之事——拆分美国最大的公司之一。更令人意外的是,推动拆分的不是美国司法部(DOJ),而是一向被批评执法宽松的 FTC。“Facebook 案是真正的大事,”叶史瓦大学卡多佐法学院教授萨姆·温斯坦说,“如果想象政府胜诉、拆分 Facebook,那将是一个里程碑。”

¶2

The federal government and states across the U.S. have sued both Facebook and Alphabet's Google in recent weeks for abusing their dominant positions in social media and internet search, respectively. Together, the cases represent a watershed moment in U.S. antitrust enforcement and an escalation of regulatory pressure on the technology sector, which also includes a push to pare back a prized liability shield, Section 230 of the Communications Decency Act.

译| 近几周,联邦政府和美国各州分别起诉 Facebook 和 Alphabet 旗下的谷歌,指其滥用社交媒体和互联网搜索领域的主导地位。两案合起来,是美国反垄断执法的一个分水岭,也标志着对科技行业监管压力的升级——其中还包括推动削减一项重要的责任豁免,即《通信规范法》第 230 条。

¶3

But while the Google case sits comfortably within legal precedent, the Facebook case represents a startling offensive. The FTC is staking out new territory in seeking to unwind Facebook's purchases of Instagram and WhatsApp — deals that the agency approved in 2012 and 2014. It's pursuing a unique line of attack. Rather than targeting the Instagram and WhatsApp deals individually as illegal under traditional merger law, the agency argues that they are part of a broader strategy by Facebook to monopolize social media.

译| 但谷歌案稳稳落在法律先例之内,Facebook 案却是一次惊人的进攻。FTC 试图撤销 Facebook 对 Instagram 和 WhatsApp 的收购——这两笔交易当年在 2012 年和 2014 年正是该机构批准的。它走的是一条独特的攻击路线:不把两笔交易分别认定为违反传统合并法,而是主张它们构成 Facebook 垄断社交媒体的整体战略的一部分。

¶4

The DOJ's Google suit, by contrast, adheres to the legal framework of the U.S. monopoly case against Microsoft Corp. from 1998. The 1998 Microsoft lawsuit charged that the software giant's agreements with manufacturers to install its Internet Explorer browser on its operating system violated antitrust laws. Similarly, the Google complaint focuses on its exclusive deals to package its search engines into phones and browsers. “The DOJ case is literally a clone of U.S. vs Microsoft and should be somewhat of a slam-dunk,” says Sally Hubbard from the Open Markets Institute.

译| 相比之下,司法部对谷歌的诉讼沿用 1998 年美国诉微软垄断案的法律框架。1998 年微软案指控这家软件巨头与制造商达成协议、在其操作系统上安装 IE 浏览器,违反反垄断法。同样,谷歌案聚焦其把搜索引擎打包进手机和浏览器的排他协议。“司法部的案子简直是对美国诉微软案的克隆,应该算十拿九稳,”开放市场研究所的萨莉·哈伯德说。

¶5

The FTC's strategy may be more innovative, but that very feature could handicap it in court. The agency will need to convince a judge that structural relief against Facebook is warranted. The chairman of the FTC, Joe Simons, said in an interview that prying apart consummated deals can get “very messy”. That could be especially true with Facebook, which has worked to integrate Instagram and WhatsApp, using the same servers, networks, and advertising for all three. Facebook, for its part, says it faces robust competition and competes fairly, and has argued that revisiting acquisitions after so long could chill future deals.

译| FTC 的策略或许更有新意,但恰恰这一特点可能让它在法庭上受限。该机构需要说服法官:对 Facebook 采取结构性救济是必要的。FTC 主席乔·西蒙斯在采访中说,拆散已经完成的交易会“非常麻烦”。对 Facebook 尤其如此,因为它已着力整合 Instagram 和 WhatsApp,三者共用服务器、网络和广告系统。Facebook 方面则表示自己面临激烈竞争、公平竞争,并主张时隔多年重翻旧收购会抑制未来的交易。

¶6

Together, the two cases could redraw the rules that Silicon Valley has been operating under since the Microsoft case, says Weinstein, the Cardozo professor. “Whatever comes out of these cases,” he says, “is going to set the course of antitrust law for the next 20 years.”

译| 温斯坦说,两案合起来可能重划硅谷自微软案以来一直遵循的规则。“无论这些案子结果如何,”他说,“都将决定未来 20 年反垄断法的走向。”

题目与答案

111. The word “jolted” (Paragraph 1) is closest in meaning to ________.

A. disturbed B. cornered C. shocked D. captured

答案 C|题型:词义(画线词)|定位:¶1 “jolted the markets with filings”|陷阱:jolted≈shocked(震动)

112. According to Paragraphs 3 and 4, the U.S. government's case against Facebook is ________.

A. conservative B. objective C. conventional D. bold

答案 D|题型:细节·推断|定位:¶3 “a startling offensive… staking out new territory”|陷阱:形容为“大胆/进取”,不是保守

113. Sally Hubbard would most likely agree that ________.

A. the 1998 Microsoft lawsuit has broad implications for the Google case B. the DOJ's complaint against Google is different from its complaint against Microsoft C. the Google case is bound to turn out the same way as the Microsoft case D. Google will win the case at trial and can package its search engines into servers

答案 C|题型:人物观点|定位:¶4 “a clone of U.S. vs Microsoft… slam-dunk”|陷阱:她认为谷歌案基本照搬微软案、胜算大

114. It can be learned from Paragraph 6 that ________.

A. splitting Facebook will be easier than expected B. the justice believes that breaking up Facebook is a necessary remedy C. the FTC's strategy has some limitations D. fair competition is good for future market transactions

答案 C|题型:细节·推断|定位:¶5 “could handicap it in court… very messy”|陷阱:FTC 策略在法庭上可能受阻

115. Which of the following would be the best title for this text?

A. Microsoft a Lesson for All the High-tech Giants B. A Tale of Two Antitrust Battles C. Google and Facebook: Antitrust Concerns Reaching Beyond Privacy D. The Smoking Gun in the Facebook and Google Antitrust Cases

答案 B|题型:主旨·标题|定位:全文两案对比|陷阱:最佳标题=两场反垄断战


篇四|“自由市场”是个神话(116–120)

原文 / 译文

¶1

Few ideas have more profoundly poisoned the minds of more people than the notion of a “free market” existing somewhere in the universe, into which government “intrudes”. According to this view, whatever we might do to reduce inequality or economic insecurity — to make the economy work for most of us — runs the risk of distorting the market and causing it to be less efficient, or of unintended consequences that may end up harming us. The “free market” is to be preferred over “government”.

译| 很少有观念像“自由市场”那样,更深地毒害了更多人的头脑——仿佛市场存在于宇宙某处,而政府会“闯入”其中。按这种看法,我们为减少不平等或经济不安全感、让经济为多数人服务所做的一切,都有扭曲市场、降低效率的风险,或带来最终伤害我们的意外后果。“自由市场”优于“政府”。

¶2

This prevailing view is utterly false. There can be no “free market” without government. A market — any market — requires government to make and enforce the rules of the game. In most modern democracies, such rules emanate from legislatures, administrative agencies and courts. Government doesn't “intrude” on the “free market”. It creates and maintains the market.

译| 这种流行看法完全错误。没有政府,就不可能有“自由市场”。市场——任何市场——都需要政府制定并执行游戏规则。在多数现代民主国家,这类规则来自立法机关、行政机关和法院。政府并不“闯入”自由市场,它创造并维护市场。

¶3

The interminable debate over whether the free market is better than “government” makes it impossible for us to examine who exercises power, how they benefit from doing so and whether such rules need to be altered so that more people benefit from them. The myth of market fundamentalism is therefore highly useful to those who do not wish such an examination to be undertaken. The debate over market vs government serves to distract the public from the underlying realities of how the rules are generated and changed, from the power of the moneyed interests over this process, and the extent to which they gain from the results. In other words, not only do these “free market” advocates want the public to agree with them about the superiority of the market, but also about the central importance of the interminable and distracting debate over whether the market or the government should prevail.

译| 关于“自由市场是否优于政府”的无休止争论,使我们无法审视:谁在行使权力、他们如何从中获益、规则是否需要修改以让更多人受益。因此,“市场原教旨主义”的神话,对那些不愿进行这种审视的人极为有用。市场与政府之争,把公众的注意力从规则如何生成与改变、金钱利益集团对这一过程的支配、以及他们从结果中获利多少这些底层现实中引开。换言之,这些“自由市场”鼓吹者不仅要公众认同市场的优越性,还要认同“市场与政府谁应占上风”这场无休止、分散注意力的争论具有核心重要性。

¶4

This is why it's so important to expose the underlying structure of the so-called free market and show how and where power is exercised over it. It's why I write a weekly column for The Guardian — one of the few publications in the world committed to revealing the truth about the economy and exposing the myths that distract the public's attention from what is really going on. The Guardian can do this because it's not financed by commercial sponsors or any party with a financial or other interest in what it reports, but exists solely to serve the public.

译| 正因如此,揭露所谓自由市场的底层结构、指明权力如何及在哪里被行使,才如此重要。也正因如此,我为《卫报》写每周专栏——《卫报》是世界上少数致力于揭示经济真相、揭穿那些把公众注意力从现实引开的神话的出版物之一。它能这样做,是因为它不接受商业赞助,也不受任何在其报道内容中有财务或其他利益的党派资助,而只服务于公众。

¶5

Inequalities of income, wealth, and political power continue to widen across all advanced economies. To reverse them we need an informed public capable of seeing the mythologies that protect and preserve today's super-rich no less than did the Divine Right of Kings centuries ago.

译| 在所有发达经济体中,收入、财富和政治权力的不平等持续扩大。要扭转这一趋势,我们需要有见识的公众,能够看穿那些保护并维系当今超级富豪的神话——正如几个世纪前“君权神授”所起的作用一样。

题目与答案

116. The author thinks that the ideas of free market and government are ________.

A. compatible B. illusory C. paradoxical D. perplexing

答案 A|题型:观点|定位:¶2 “There can be no free market without government”|陷阱:作者认为二者并非对立,而是“共存”

117. A kind of market fundamentalism is promoted by those who ________.

A. want to promote the welfare of the society B. desire to promote their own interests C. refuse to take up basic challenges D. keep the debate about the market going

答案 B|题型:细节·推断|定位:¶3 “useful to those who do not wish such an examination”|陷阱:市场原教旨主义服务于不愿被审查的利益集团

118. The author suggests that the debate over market vs government ________.

A. helps to clarify the markets real role B. engages too much public attention C. will generate no worthwhile results D. benefits the rich more than the public

答案 D|题型:细节·推断|定位:¶3 “distract the public… from the power of the moneyed interests”|陷阱:争论让公众分心、富人得利

119. The Guardian does a good job in ________.

A. arguing for the superiority of the market B. exposing the power behind the market C. condemning the super-rich for their greed D. shunning the debate over the markets role

答案 B|题型:细节|定位:¶4 “revealing the truth… exposing the myths”|陷阱:《卫报》做得好的是揭露市场背后的权力与神话

120. To redress inequalities in advanced countries, we need to ________.

A. know where public interest lies and serve it B. protect the interests of the less powerful C. expose the myth of the “free market” D. curtail the greediness of the super-rich

答案 C|题型:主旨·呼吁|定位:¶5 “an informed public capable of seeing the mythologies”|陷阱:扭转不平等需要公众识破“自由市场”神话