[시사영어 2023-07-22] 중국의 잃어버린 10년

China’s Lost Decade for Investors Has Already Happened

 

Deflation looms. The workforce is shrinking and aging.

loom : 어렴풋이 보이다 / (중요하거나 위협적인 일이)곧 닥칠 것 처럼 보이다

The property boom has turned to bust, leaving a legacy of heavy debt. Cash-rich consumers won’t spend.

property : 부동산, 건물, 재산, 소유물
bust : 실패, 파산, 부수다, 고장내다, (경찰이) 급습하다
legacy : (죽은사람의) 유산, (과거의) 유산
heavy debt : 많은 빛

There are plenty of comparisons between China’s stuttering economy today and Japan at the start of its lost decade.

comparisons : (A와 B의) 비교, 비유, 비교함
stutter : 말을 더듬다, 

Investors in China have had a lost decade or more already.
Domestic share prices are lower than they were in 2007, and earnings per share are the same as in 2013.

Domestic share prices : 국내 주가
earnings per share : 주당 순이익

No wonder Chinese stocks are among the cheapest in the world. To understand the problem, go back to basics.

No wonder S + V : ~의심의 여지가 없다
go back to basics : 기본으로 돌아가라

Growth comes from only three places: more people, more capital or better use of workers and capital—higher productivity.

China won’t have more workers, as its population began to shrink last year.

Throwing more capital at the economy got it into its current problems, as companies and governments borrowed far too much to build.

Throwing more capital : 더 많은 자본을 투입하는 것은

Productivity is everywhere except in the statistics, where it has been falling for more than a decade after an extraordinary period of growth that followed China’s entry into the World Trade Organization in 2001.

except : (누구,무엇을) 제외하고는, ~라는 점만 제외하면
extraordinary : 기이한, 놀라운, 보기드문
entry : 들어감, 이장, 출입, 가입

Weak earnings and low share prices are the natural corollary of weak productivity, and the government is standing in the way of improvement.

corollary : 필연적인 결과, 당연한 귀결 (= something that naturally follows or results from another thing)
in the way : 방해가 되어서