最新The Economist部分文章全文翻译(持续更新中)

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The campaign
Battle of the sexes
The tussle[D1] for women’s votes is a defining feature of the election race
Sep 15th 2012 | CHICAGO | from the print edition

THE signs of battle have been apparent for much of the year. First, a flurry[D2] when a candidate’s wife was described as having “never worked[D3] a day in her life”; then a storm when a student was called a “slut[D4]” for saying her health-care plan should include free contraception[D5]; and finally the arrival of new phrases in the political lexicon[D6] such as legitimate[D7] rape” and “mandatory transvaginal[D8] ultrasound[D9]”.

In some ways the bitter battle over women voters should come as no surprise. In 2008 Barack Obama won the female vote by 13 points (56%-43%). His opponent this time round, Mitt Romney, needs to do much better than John McCain if he wants to win. Women outnumber men at the polls (by 10m at the last election), turn out to vote in higher percentages (60% versus 56% in 2008), and tend to vote Democratic. Mr Obama’s comfortable edge with women is still apparent, but looks a bit weaker now (53%-43%, according to our YouGov poll). Moreover, Mr Romney’s edge with men is eroding[D10] either all, or most, of this lead, depending on the poll.

On the face of it[D11], a weak economy ought to help Mr Romney win over women, as they consistently describe this as the most important issue facing the country (as do men). Mr Romney’s main line of attack has been to argue that women have been disproportionately affected by Mr Obama’s economic policies. The Republicans claim women account for 92% of the net jobs lost under his tenure[D12].

This can be contested on many grounds. First, many of those job losses were in education, thanks to state and local governments getting a smaller stimulus in 2009 than Mr Obama requested because of opposition from congressional Republicans. More important, the downturn that preceded Mr Obama’s arrival simply hit male-dominated industries such as manufacturing first, and female-dominated industries later. Today there are only 29,000 fewer women working than when Mr Obama took office in January 2009. Perhaps a clue that even the Romney campaign does not believe that Mr Obama’s policies have been especially bad for women is that none of Mr Romney’s prescriptions for improving the economy is aimed at women in particular.

Although issues such as health care, education and abortion do not show up as priorities in polls of female voters, it would be a mistake to assume that they will not matter on election day. One reason for this is that women voters think slightly differently about the economy, according to Alex Bratty, a partner with Public Opinion Strategies, a Republican pollster who has conducted research into the so-called “Walmart mom”.

Walmart moms are female voters with children under 18 who have shopped at the store in the previous month. This group of voters is crucial for the Republicans, because Mr Obama’s advantage among younger women is so large, whereas married women tend to need fewer of the social protections that the Democrats offer and more of the tax benefits that Republicans favour.

Ms Bratty’s focus groups with swing Walmart moms reveal that they view the economy through a much more personal lens[D13] than men. They look at how things are for their family around the kitchen table, and they are sympathetic to the difficulties that Mr Obama has faced. Moreover, right behind the economy come two crucial issues they worry about every day: education (including the rising cost of university) and health care.

On health care, Mr Obama has a strong case to make. His health-care law has made it possible for families to keep their children on their insurance policies until they are 26 (even if they have left home); it is obliging insurers to offer “free” contraceptive coverage with no co-payments; and it has also ended the practice of charging women far higher premiums for their health care. Yet Ms Bratty argues that Walmart moms for the most part remain worried, fearing that their health care will be more expensive in future, harder to get and not as good as before.

Despite this opening[D14] for Mr Romney, social issues could nudge[D15] the needle in some key states—and remain his political weak spot. On questions such as gay marriage, abortion and funding for Planned Parenthood, a family-planning group, Mr Romney, his running-mate Paul Ryan and his party have big electoral weaknesses among women, especially younger ones.

Mr Ryan’s position on abortion has allowed the Obama campaign to define the Republican ticket[D16] as extreme. He opposes abortion absolutely, even in cases of rape, incest[D17] and danger to the mother’s life, and this year co-sponsored a bill requiring women seeking abortions to be given mandatory ultrasound (although the legislation kindly allows them to avert their eyes[D18] during the procedure). Another bill, co-sponsored by Mr Ryan and mocked[D19] as the “Let Women Die” bill, would, say opponents, allow hospitals to decline to perform abortions on religious grounds, even if the life of a pregnant woman is at stake[D20].

All this is fuel for Democrats in swing states and will motivate activists for women’s rights—who are already convinced of the threat that a Romney presidency would pose to Roe v Wade, the Supreme Court decision of 1973 that prevents states from banning abortion. They also like Mr Obama’s requirement that health insurers provide free contraception, a subject repeatedly raised at the Democratic convention in Charlotte and strongly opposed by the Republicans.

The Walmart moms are more resistant than the activists to the idea that there is a “war on women”. But they do place a great deal of importance on what they know about a candidate and how connected they feel to him. They think they know Mr Obama; but Mr Romney and Mr Ryan are very far from sealing their link.

from the print edition | United States

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[D1]tussle noun [countable] a fighting a lot of energy, in which two people get hold of each other and struggle [= struggle]
[D2]flurry noun [singular] a time when there is suddenly a lot of activity and people are very busy
[D3]work verb [intransitive and transitive] to do the activities and duties that are part of your job
[D4]slut noun [countable] taboo informal a very offensive word for a woman who has sex with a lot of different people. Do not use this word.
[D5]contraception noun [uncountable] the practice of preventing a woman from becoming pregnant when she has sex, or the methods for doing this [= birth control]
[D6]lexicon noun [countable] an alphabetical list of words with their meanings, especially on a particular subject or in a particular language
[D7]legitimate adjective
1 fair or reasonable
2 acceptable or allowed by law
[D8]vagina noun [countable] the passage between a woman’s outer sexual organs and her uterus
[D9]ultrasound noun [uncountable and countable] a medical process using this type of sound, that produces an image of something inside your body
[D10]erode verb (also erode away) [intransitive and transitive] to gradually reduce something such as someone’s power or confidence
[D11]on the face of it used to say that something seems true but that you think there may be other facts about it which are not yet clear
[D12]tenure noun [uncountable] formal the period of time when someone has an important job
[D13]lens noun [countable]
1 the part of a camera through which the light travels before it reaches the film
2 the clear part inside your eye that focuses so you can see things clearly
[D14]opening noun [countable] a chance for someone to do or say something
[D15]nudge verb [transitive] to push someone gently, usually with your elbow, in order to get their attention
[D16]ticket noun [usually singular] especially American English a list of the people supported by a particular political party in an election
[D17]incest noun [uncountable] sex between people who are closely related in a family
[D18]avert verb [transitive] avert your eyes / gaze etc to look away from something so that you do not see it
[D19]mock verb [intransitive and transitive] formal to laugh at someone or something and try to make them look stupid by saying unkind things about them or by copying them [= make fun of]
[D20]stake noun at stake if something that you value very much is at stake, you will lose it if a plan or action is not successful

!感-杠-问?

The campaign
总统选举运动
Battle of the sexes
性别之役
The tussle for women’s votes is a defining feature of the election race
女权运动之于总统竞选
Sep 15th 2012 | CHICAGO | from the print edition

THE signs of battle have been apparent for much of the year. First, a flurry when a candidate’s wife was described as having “never worked a day in her life”; then a storm when a student was called a “slut” for saying her health-care plan should include free contraception; and finally the arrival of new phrases in the political lexicon such as “legitimate rape” and “mandatory transvaginal ultrasound”.

今年的总统选举运动中，女权问题似乎总是如影随形。一会有人指责竞选人的妻子一生碌碌无为；一会又有人将寻求免费避孕的女孩称作“厕所”；“无罪强奸”和“强制阴道超声”似乎也成为了今年总统竞选的热门新词。

In some ways the bitter battle over women voters should come as no surprise. In 2008 Barack Obama won the female vote by 13 points (56%-43%). His opponent this time round, Mitt Romney, needs to do much better than John McCain if he wants to win. Women outnumber men at the polls (by 10m at the last election), turn out to vote in higher percentages (60% versus 56% in 2008), and tend to vote Democratic. Mr Obama’s comfortable edge with women is still apparent, but looks a bit weaker now (53%-43%, according to our YouGov poll). Moreover, Mr Romney’s edge with men is eroding either all, or most, of this lead, depending on the poll.

当然，每次选举肯定难免女权运动的身影——早已习以为常了。巴洛克·奥巴马（Barack Obama）在2008年在女性中的支持率，领先对手13个百分点（56%对43%）。和当年的约翰麦凯恩（John McCain）相比，米特·罗姆尼（Mitt Romney）这次得好好想想如何扭转乾坤。各类问卷调查都显示，女性投票人数比男性更多（最近一次选举中多出100万人），投票率也更高（2008年男女投票率分别为56%和60%），并且大多都是民主党的支持者。如今，奥巴马在女性中的优势仍旧明显，不过相较于2008年领先幅度有所减小（在本报最新的“你与ZF”（YouGov）调查中，奥巴马和罗姆尼的这一比例分别为53%和43%）。我们的调查还显示，罗姆尼在男性中的支持率已经几乎完全弥补了这一差距。

On the face of it, a weak economy ought to help Mr Romney win over women, as they consistently describe this as the most important issue facing the country (as do men). Mr Romney’s main line of attack has been to argue that women have been disproportionately affected by Mr Obama’s economic policies. The Republicans claim women account for 92% of the net jobs lost under his tenure.

是什么让罗姆尼赢取了女性的芳心呢？正是疲软的经济复苏态势。女性长久以来一直认为当前国家面临最大的困境就是经济问题（其实所有人都这么想）。罗姆尼批评奥巴马经济政策，称其没有平等对待女性。共和党称，在奥巴马执政期间，净失业人数女性占了92%。

This can be contested on many grounds. First, many of those job losses were in education, thanks to state and local governments getting a smaller stimulus in 2009 than Mr Obama requested because of opposition from congressional Republicans. More important, the downturn that preceded Mr Obama’s arrival simply hit male-dominated industries such as manufacturing first, and female-dominated industries later. Today there are only 29,000 fewer women working than when Mr Obama took office in January 2009. Perhaps a clue that even the Romney campaign does not believe that Mr Obama’s policies have been especially bad for women is that none of Mr Romney’s prescriptions for improving the economy is aimed at women in particular.

导致这一现象的原因众说纷纭，版本诸多。有一种就说，许多失业者原先都是在教育系统的——这倒还得多谢共和党的国会议员。就是因为他们，奥巴马的经济振兴计划才会遭遇重重阻碍，2009年联邦ZF及各州ZF的刺激力度才会被迫减弱。还有人更是表示，奥巴马上任前，经济衰退主要影响了男性主导的行业（如制造业等），而其后开始蔓延到其他女性主导的行业。即使是在这种情况下，与奥巴马在2009年1月上任时的情形相比，如今女性失业人数也就只多了2.9万人而已。就连罗姆尼竞选团队也并未表示，奥巴马的经济政策存在对女性的严重性别歧视。其中原因可能是，罗姆尼自己也并未对这一问题开出特别药方。

Although issues such as health care, education and abortion do not show up as priorities in polls of female voters, it would be a mistake to assume that they will not matter on election day. One reason for this is that women voters think slightly differently about the economy, according to Alex Bratty, a partner with Public Opinion Strategies, a Republican pollster who has conducted research into the so-called “Walmart mom”.

诸如医疗、教育、流产等问题，在如今的竞选局势中的作用并非轻如鸿毛（尽管民调显示这些并非女性选民关心的头等大事）。这话并非空穴之风。亚历克斯·布兰迪（Alex Bratty）是公共意见策略公司（Public Opinion Strategies）的合伙人之一。作为共和党人，他组织了一个针对所谓“沃尔玛妈妈”（Walmart mom）的问卷调查。他表示，女性选民对经济政策的意见与男性并非完全一致。

Walmart moms are female voters with children under 18 who have shopped at the store in the previous month. This group of voters is crucial for the Republicans, because Mr Obama’s advantage among younger women is so large, whereas married women tend to need fewer of the social protections that the Democrats offer and more of the tax benefits that Republicans favour.

“沃尔玛妈妈”是指在过去的一个月内在沃尔玛买过东西，并且孩子年龄未满18岁的妈妈。这个人群的选票对于共和党而言至关重要。奥巴马在年轻女性中具有显著优势。然而已婚妇女相对就不那么需要民主党提供的社会保障服务，而更偏爱共和党倾向的税收优惠政策。

Ms Bratty’s focus groups with swing Walmart moms reveal that they view the economy through a much more personal lens than men. They look at how things are for their family around the kitchen table, and they are sympathetic to the difficulties that Mr Obama has faced. Moreover, right behind the economy come two crucial issues they worry about every day: education (including the rising cost of university) and health care.

这些沃尔玛妈妈对于总统的选择，尚处于左右为难的阶段。布兰迪对于这一人群的调查显示，她们比男性更多地从个人利益角度去考虑经济问题。她们看重的是家庭厨房小事，对奥巴马目前所面临的各种困境也深表同情。除了经济问题，她们还会考虑另外两大核心问题：教育（包括大学费用的上涨问题）和医疗。

On health care, Mr Obama has a strong case to make. His health-care law has made it possible for families to keep their children on their insurance policies until they are 26 (even if they have left home); it is obliging insurers to offer “free” contraceptive coverage with no co-payments; and it has also ended the practice of charging women far higher premiums for their health care. Yet Ms Bratty argues that Walmart moms for the most part remain worried, fearing that their health care will be more expensive in future, harder to get and not as good as before.

奥巴马在医疗方面总希望能够大展鸿图。在他的医疗法案中，孩子在26岁前（无论有没有独立生活）都能够由家庭出面续保；保险公司必须提供避孕保险（即使是那些没交保费的人）；女性也不必再比男性多交医保费用。但布兰迪指出，沃尔玛妈妈仍然十分担心，不久以后费用可能又要上升、准入条件又变得更为苛刻、保障力度也不如以前那么优厚。

Despite this opening for Mr Romney, social issues could nudge the needle in some key states—and remain his political weak spot. On questions such as gay marriage, abortion and funding for Planned Parenthood, a family-planning group, Mr Romney, his running-mate Paul Ryan and his party have big electoral weaknesses among women, especially younger ones.

尽管这对罗姆尼来说，确是一个机会。但在那些制胜关键的州，社会问题已经扎根其中，而罗姆尼对这些问题的处理就显得逊色许多。这些社会问题包括：同性婚姻、流产、资助计划生育组织“双亲规划”（Planned Parenthood）等。由于这些问题处理不当，罗姆尼和他的竞选搭档保罗·赖安（Paul Ryan）及其所在政党，在女性（特别是年轻女性）中的支持率落后较多。

Mr Ryan’s position on abortion has allowed the Obama campaign to define the Republican ticket as extreme. He opposes abortion absolutely, even in cases of rape, incest and danger to the mother’s life, and this year co-sponsored a bill requiring women seeking abortions to be given mandatory ultrasound (although the legislation kindly allows them to avert their eyes during the procedure). Another bill, co-sponsored by Mr Ryan and mocked as the “Let Women Die” bill, would, say opponents, allow hospitals to decline to perform abortions on religious grounds, even if the life of a pregnant woman is at stake.

奥巴马团队批评共和党竞选人名单中的人思想太过极端。作为罗姆尼的竞选搭档，赖安完全反对流产，完全不考虑强奸、乱伦、危及母亲生命情况下的流产。今年，他参与资助了多项法案。其中一部要求想流产的女性必须接受强制性的超声检查（还貌似仁慈地允许她们在检查时蒙上眼睛）。另一部则是被戏称为“让女人去死”（Let Women Die）的法案。据反对者透露，该法案允许医院因宗教原因拒绝流产手术，即使孕妇生命已危在旦夕。

All this is fuel for Democrats in swing states and will motivate activists for women’s rights—who are already convinced of the threat that a Romney presidency would pose to Roe v Wade, the Supreme Court decision of 1973 that prevents states from banning abortion. They also like Mr Obama’s requirement that health insurers provide free contraception, a subject repeatedly raised at the Democratic convention in Charlotte and strongly opposed by the Republicans.

所有这些都有利于民主党在选票拉锯的州获得支持，也会激起女权激进者的强烈反弹——她们已感到罗姆尼团队将会再提“罗伊韦德案”（Roe v Wade，该案由最高法院于1973年裁定，认为州ZF禁止妇女流产是非法的）。她们欢迎奥巴马医疗法案中，关于医保覆盖免费避孕的主张。然而尽管民主党大会在卡罗特（Charlotte）一再提出该主张，共和党人却对此提出了强烈的反对意见。

The Walmart moms are more resistant than the activists to the idea that there is a “war on women”. But they do place a great deal of importance on what they know about a candidate and how connected they feel to him. They think they know Mr Obama; but Mr Romney and Mr Ryan are very far from sealing their link.

沃尔玛妈妈对女性歧视的反感，比那些激进者更为强烈。无论是沃尔玛妈妈，还是女权激进人士，她们的这些看法在很大程度上，会决定她们对于总统候选人的印象和好感。结果就是，她们觉得与奥巴马是同病相怜，而与罗姆尼和赖安则沟壑难填。

from the print edition | United States

(本文由我翻译，译文版权由我所有，欢迎交流、指正)

!感-杠-问?

The campaign
Battle of the sexes
The tussle for women’s votes is a defining feature of the election race[D1]
Sep 15th 2012 | CHICAGO | from the print edition

THE signs of battle have been apparent for much of the year. First, a flurry when a candidate’s wife was described as having “never worked a day in her life”; then a storm when a student was called a “slut” for saying her health-care plan should include free contraception; and finally the arrival of new phrases in the political lexicon such as “legitimate rape” and “mandatory transvaginal ultrasound”.

In some ways the bitter battle over women voters should come as no surprise. In 2008 Barack Obama won the female vote by 13 points (56%-43%). His opponent this time round, Mitt Romney, needs to do much better than John McCain if he wants to win. Women outnumber[D2] men at the polls (by 10m at the last election), turn out to vote in higher percentages (60% versus 56% in 2008), and tend to vote Democratic. Mr Obama’s comfortable edge with women is still apparent, but looks a bit weaker now (53%-43%, according to our YouGov poll). Moreover, Mr Romney’s edge with men is eroding[D3] either all, or most, of this lead, depending on[D4] the poll.

On the face of it[D5], a weak economy ought to help Mr Romney win over women, as they consistently describe this as the most important issue facing the country[D6] (as do men). Mr Romney’s main line of attack has been to argue that women have been disproportionately affected by Mr Obama’s economic policies. The Republicans claim women account for[D7] 92% of the net jobs lost under his tenure.

This can be contested on many grounds.[D8] First, many of those job losses were in education, thanks to[D9] state and local governments getting a smaller stimulus in 2009 than Mr Obama requested because of opposition from congressional Republicans. More important[D10], the downturn that preceded Mr Obama’s arrival simply hit male-dominated industries such as manufacturing first, and female-dominated industries later[D11]. Today there are only 29,000 fewer women working than when Mr Obama took office in January 2009. Perhaps a clue that even the Romney campaign does not believe that Mr Obama’s policies have been especially bad for women is that none of Mr Romney’s prescriptions for improving the economy is aimed at women in particular.[D12]

Although issues such as health care, education and abortion do not show up as priorities[D13] in polls of female voters, it would be a mistake to assume that[D14] they will not matter on election day. One reason for this is that women voters think slightly differently about the economy, according to Alex Bratty, a partner with Public Opinion Strategies, a Republican pollster who has conducted research into the so-called[D15] “Walmart mom”.

Walmart moms are female voters with children under 18 who have shopped at the store in the previous month. This group of voters is crucial for[D16] the Republicans, because Mr Obama’s advantage among younger women is so large, whereas married women tend to[D17] need fewer of the social protections that the Democrats offer and more of the tax benefits that Republicans favour.

Ms Bratty’s focus groups with swing Walmart moms reveal that they view the economy through a much more personal lens[D18] than men. They look at how things are for their family around the kitchen table, and they are sympathetic to the difficulties that Mr Obama has faced. Moreover, right behind the economy come two crucial issues they worry about every day: education (including the rising cost of university) and health care.[D19]

On health care, Mr Obama has a strong case to make. His health-care law has made it possible for families to[D20] keep their children on their insurance policies until they are 26 (even if they have left home); it is obliging insurers to offer “free” contraceptive coverage with no co-payments; and it has also ended the practice of charging women far higher premiums for their health care. Yet Ms Bratty argues that Walmart moms for the most part[D21] remain worried, fearing that[D22] their health care will be more expensive in future, harder to get and not as good as before.

Despite this opening for Mr Romney, social issues could nudge the needle in some key states[D23]—and remain his political weak spot. On questions such as gay marriage, abortion and funding for Planned Parenthood, a family-planning group, Mr Romney, his running-mate Paul Ryan and his party have big electoral weaknesses among women, especially younger ones.

Mr Ryan’s position on abortion has allowed the Obama campaign to define the Republican ticket as extreme[D24]. He opposes abortion absolutely, even in cases of[D25] rape, incest and danger to the mother’s life, and this year co-sponsored a bill requiring women seeking abortions to be given mandatory ultrasound (although the legislation kindly allows them to avert their eyes during the procedure). Another bill, co-sponsored by Mr Ryan and mocked as the “Let Women Die” bill, would, say opponents[D26], allow hospitals to decline to perform abortions on religious grounds, even if[D27] the life of a pregnant woman is at stake.

All this is fuel for[D28] Democrats in swing states and will motivate[D29] activists for women’s rights—who are already convinced of[D30] the threat that a Romney presidency would pose to Roe v Wade, the Supreme Court decision of 1973 that prevents states from banning abortion. They also like Mr Obama’s requirement that health insurers provide free contraception,a subject repeatedly raised[D31] at the Democratic convention in Charlotte and strongly opposed by the Republicans.

The Walmart moms are more resistant than the activists to the idea that there is a “war on women”. But they do place a great deal of importance on[D32] what they know about[D33] a candidate and how connected they feel to him. They think they know Mr Obama; but Mr Romney and Mr Ryan are very far from[D34] sealing their link[D35].

from the print edition | United States

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[D1]A is a defining feature of B（A是B的典型特征）
[D2]outnumber（不只是数字，也可是重要性等）
[D3]erode（有reduce的意思）
[D4]depending on（介词词组，替代according to）
[D5]on the face it（用来并列层次）
[D6]the most important issue facing the country（表示问题严重的句子）
[D7]account for（两个意思，1、占比例，2、解释现象）
[D8]This can be contested on many grounds.（替换There are many reasons for the situation.等低层次语言）
[D9]thanks to（介词短语，表原因）
[D10]more important（句首副词，表递进或并列）
[D11]... first, ... later（句末副词，表时间先后）
[D12]a clue that ... is that ... （表原因，第一个that同位语，第二个that表语）
[D13]show up as priority（表示重要性）
[D14]it would be a mistake to assume that（assume可以替换成其他观点类动词，关键是mistake的运用，软化了否定语气）
[D15]so-called（引入新概念时常用的修饰语）
[D16]be crucial for（表示重要性，非常常用）
[D17]tend to do sth.（软化语气的万能词，无实意）
[D18]through a ... lens（类似的还有from a ... perspective等）
[D19]behind A come some crucial issues: B and C（倒装句，come的动词形式根据some crucial issues而定，如果只有一个issue则三单一，这个结构可表示并列或递进）
[D20]A make it possible for B to do C
[D21]for the most part（软化语气的万能词）
[D22]sb. remain worried, fearing that ...（常用句型，remain可用其他系动词替代，可用此提出某个负面问题）
[D23]A nudge the needle in B（表示严重性）
[D24]define A as B（所有verb + A as B这一类的结构，verb几乎都无实意，所要表达的意思都是“把A视作B”）
[D25]in case(s) of（表条件）
[D26]say sb.（插入语，最重要的作用是断句）
[D27]even if / though（语意上与though / although无异，可使用虚拟语气）
[D28]be fuel for（有support的意思）
[D29]motivate（有encourage的意思）
[D30]be convinced of（与be aware of相似）
[D31]raise a subject（动宾搭配）
[D32]place a great deal of importance on（表重要，place还可用act、play等替代）
[D33]know about（注意与know之间的区别）
[D34]far from（表否定）
[D35]seal one’s link

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译文部分修改，如下：

第二段
每次选举肯定难免女权运动的身影——早已习以为常了→每次选举肯定难免女权运动的身影——人们对此早已习以为常了

巴洛克·奥巴马（Barack Obama）在2008年在女性中的支持率，领先对手13个百分点（56%对43%）→2008年，巴洛克·奥巴马（Barack Obama）在女性中的支持率，领先对手13个百分点（56%对43%）

和当年的约翰麦凯恩（John McCain）相比，米特·罗姆尼（Mitt Romney）这次得好好想想如何扭转乾坤。→
和当年的约翰麦凯恩（John McCain）相比，米特·罗姆尼（Mitt Romney）这次得好好想想如何扭转乾坤了。

女性投票人数比男性更多（最近一次选举中多出100万人）→女性投票人数比男性更多（最后一次投票中多出1000万人）

第四段
这倒还得多谢共和党的国会议员→这倒还得“多谢”共和党的国会议员

2009年联邦ZF及各州ZF的刺激力度才会被迫减弱→2009年各州ZF及地方ZF的刺激力度才会被迫减弱

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Summary Writing（原文总字数993,本文总字数228）

Apparently for much of the year, battle of the sexes has already been attracting public eyeballs. There’s no doubt that, from a sexual perspective, females play a more significant role in the political election—and partially account for Obama’s triumph years ago. Unfortunately, as the saying goes that it varies from situations to situations, Romney, Obama’s opponent today, seems to take a leap and narrow the gap by spotlighting the administration’s, among other weaknesses, higher female unemployment. It also remains a mistake, however, to accuse Obama of all the faults. About what the Republicans did in the Congress should question those job losses in education. More important, the downturn could yet be marked as a side effect after the recession in 2008. Ironically, even Romney fails to make up a prescription aimed at women in particular. Obama couldn’t act like a perfect man, and neither could Romney. Unlike younger women, housewives prefer the tax benefits favored by Republicans to the social protections offered by Democrats. It would be wrong to define them as leading to Romney, though. They always perform themselves as more personal than men, leading to more concerns about education and health care, i.e. ObamaCare. Moreover, social issues would drive the Republicans at stake. It is strongly criticized that Ryan, Romney’s running-mate, persists absolutely in opposing abortion under any conditions. Obama or Romney? “Obama,” say women.

(本文版权由我所有，欢迎交流)

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Glencore and Xstrata
Miner irritations
The tortuous[D1] route to a mining mega-merger[D2]
Sep 15th 2012 | from the print edition

AS A former champion race walker, Glencore’s boss, Ivan Glasenberg, knows all about ungainly[D3] ways of getting from A to B. The merger of equals between his mining and commodities trader and Xstrata, another mining behemoth[D4], proposed in February this year, has proved just as odd a spectacle as any walking race and with as many twists and turns. But the result now looks just as some pundits[D5] predicted when the deal was first mooted[D6]: Glencore is upping[D7] its offer a bit to ensure that the deal goes through.

The original offer, recommended by its board, was for Xstrata’s investors to get 2.8 Glencore shares for each of their own. Most analysts reckoned that Glencore might have to stump up[D8] a bit more. What they had not reckoned on was the emergence of Qatar’s sovereign-wealth fund as a big shareholder in Xstrata. As the deal progressed[D9] it added to a small stake[D10], amassing[D11] 12% of the firm.

A row over generous retention[D12] bonuses for Xstrata’s bosses seemed to be the biggest threat to the deal. Then in June the Qataris surprised and annoyed both firms by demanding a price of 3.25 Glencore shares as their price for support. The “scheme of arrangement” for the merger required backing from 75% of Xstrata’s shareholders. Given that Glencore’s 34% take in Xstrata would not be voted, Qatar’s holding amounted to a blocking stake[D13].

Mr Glasenberg, an obdurate[D14] character, refused to budge[D15], saying that he did not regard the tie-up[D16] as a “must do” deal anyway. Yet Glencore’s initial public offering (IPO) last year went ahead mainly to give his firm the currency to make an offer for Xstrata. The logic of the deal is compelling[D17]. Scale is everything in mining and their close relationship (Xstrata was created in a spin-off[D18] of Glencore’s coal mines in 2002) should make integration straightforward and cost savings plentiful by marketing all of Xstrata’s output through Glencore.

It was odd, too, that the Qataris should take such a hard line[D19] and risk the deal foundering. The fund planned to become a big investor in Glencore at its IPO but it wanted a discount, which neither Glencore nor stockmarket rules would allow. Most analysts reckon that the Qataris bought Xstrata’s shares as a way of getting a stake in Glencore cheaply when the deal, which it was now threatening, went through. But as commodity prices turned and Xstrata’s shares fell by 30% in May and June, the Qatari fund found itself a long way out of pocket[D20]. Analysts suspect that this explains the sudden demand for more cash.

The deal was on the verge[D21] of collapse before a last-gasp[D22] meeting between the Qataris and Glencore on September 6th, a day before the new deadline. That it was brokered[D23] at Glencore’s request by Tony Blair, a former British prime minister turned Middle East peace envoy[D24], added another layer of intrigue[D25] to the saga[D26]. The result was that Glencore and the Qataris shook hands on a price of 3.05 Glencore shares per Xstrata share.

Some investors may still object to the watered-down[D27] retention bonuses set to be paid to Xstrata’s bosses. Another risk is the price Glencore has extracted for giving in to[D28] the Qataris: Mick Davis, Xstrata’s chief executive, who was originally to have taken the reins[D29] permanently at the new firm, will now do the top job only for six months before handing over to Mr Glasenberg. Xstrata’s board will decide on the new offer by September 24th but looks likely to agree, having previously given the nod to a price of 2.8 shares, as long as it also reckons that Mr Davis’s swift departure is in its shareholders’ interests.

Ivan the credible

A deal that now looks more like a takeover of Xstrata by Glencore may not be such a bad thing. A company in the mould[D30] of Glencore may be better placed to withstand the current slump in commodity prices. Critics who argue that only Mr Davis knows how best to run a mine and dismiss Mr Glasenberg as no more than a wily[D31] trader ignore Glencore’s ability to build top-class assets such as Prodecco, a Colombian coal mine.

Xstrata’s focus on capital-hungry organic growth[D32] and greenfield projects[D33] looks less attractive now that commodity prices are falling. These grand schemes invariably[D34] arrive late and over budget. Glencore’s way of growing is to sniff out[D35] bargains among the 7,000 suppliers to its trading arm[D36], buying smaller, undervalued assets in places where other big miners would fear to tread[D37] (such as hairier[D38] parts of Africa and Central Asia) when opportunities present themselves[D39]. This avoids the risks of breaking ground for a new mine.

Glencore also has more sources of profits than just mining. As Ash Lazenby of Liberum Capital, a broker[D40], points out, a Glencore-led firm could look beyond coal and industrial metals. Its recent acquisition of Viterra, a Canadian grain-handling firm, shows that Glencore’s trading business gives it an eye for an opportunity that other big miners could not contemplat[D41]. This doubtless explains why Mr Glasenberg gave in to the Qataris rather than walk away from the deal.

from the print edition | Business

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[D1]tortuous adjective complicated and long and therefore confusing
[D2]mega- prefix very big
[D3]ungainly adjective moving in a way that does not look graceful
[D4]behemoth noun [countable] formal something that is very large
[D5]pundit noun [countable] someone who is often asked to give their opinion publicly of a situation or subject
[D6]be mooted to be suggested for people to consider [= put forward]
[D7]up verb [transitive] to increase the amount or level of something
[D8]stump up (something) British English informal to pay money, even if it is difficult or when you do not want to
[D9]progress verb [intransitive and transitive] if an activity such as work or a project progresses, or you progress it, it continues
[D10]stake [countable] money that you risk as the result of a horse race, card game etc
[D11]amass verb [transitive] if you amass money, information etc, you gradually collect a large amount of it
[D12]retention noun [uncountable] formal the act of keeping something
[D13]blocking stack noun (also blocking minority) someone who has a blocking minority in a company owns enough of that company's shares to prevent other companies buying or controlling it
[D14]obdurate adjective formal very determined not to change your beliefs, actions, or feelings, in a way that seems unreasonable [= stubborn]
[D15]budge verb [intransitive, transitive usually in negatives] to change your opinion, or to make someone change their opinion
[D16]tie-up noun [countable] informal
1 an agreement to become business partners
2 British English a strong connection between two or more things
[D17]compelling adjective very interesting or exciting, so that you have to pay attention
[D18]spin-off noun [countable] a separate and partly independent company that is formed from parts of an existing company, or the action or forming a company in this way
[D19]line [singular] an opinion or attitude, especially one that someone states publicly and that influences their actions
[D20]pocket noun [countable] the amount of money that you have to spend
[D21]verge noun [countable] be on the verge of something to be at the point where something is about to happen
[D22]gasp noun [countable] somebody’s / something’s last gasp the time when someone is about to die, or when something is about to stop happening or existing
[D23]broker verb [transitive] broker a deal / settlement / treaty etc to arrange the details of a deal etc so that everyone can agree to it
[D24]envoy noun [countable] someone who is sent to another country as an official representative [= emissary]
[D25]intrigue noun [uncountable and countable] the making of secret plans to harm someone or make them lose their position of power, or a plan of this kind
[D26]sage noun [countable] a long and complicated series of events, or a description of this
[D27]watered-down adjective a watered-down plan, report etc has been changed so that it is less extreme or forceful than when it was first written - used to show disapproval
[D28]give in to finally agree to do or accept something that you had at first opposed, especially because someone has forced or persuaded you to give in to
[D29]take / hand over the reins to take or give someone control over an organization or country
[D30]mould British English, mold American English noun [singular] if someone is in a particular mould, or fits into a particular mould, they have all the attutudes and qualities typical of a type of person in the mould of somebody / something
[D31]wily adjective clever at getting what you want, especially by tricking people [= cunning]
[D32]organic growth In finance, organic growth is the process of businesses expansion due to increasing overall customer base, increased output per customer or representative, new sales, or any combination of the above, as opposed to mergers and acquisitions that are examples of inorganic growth.
[D33]greenfield project In many disciplines a greenfield is a project that lacks any constraints imposed by prior work. The analogy is to that of construction on greenfield land where there is no need to remodel or demolish an existing structure. A Greenfield Investment is the investment in a manufacturing, office, or other physical company-related structure or group of structures in an area where no previous facilities exist. Greenfield Investing is usually offered as an alternative to another form of investment, such as mergers and acquisitions, joint ventures, or licensing agreements.
[D34]invariably adverb if something invariably happens or is invariably true, it always happens or is true
[D35]sniff something ↔ out informal to find out or discover something
[D36]arm noun [countable] a part of a large group that is responsible for a particular type of activity
[D37]tread verb (past tense trod, past participle trodden) [intransitive always + adverb / preposition] British English to put your foot on or in something while you are walking [= step]
[D38]hairy adjective (comparative hairier, superlative hairiest) informal dangerous or frightening, often in a way that is exciting
[D39]something present itself if a situation, opportunity etc presents itself, it suddenly happens or exists
[D40]broker noun [countable] someone who arranges sales or business agreements for other people
[D41]contemplate verb [transitive] to think about something that you might do in the future [= consider]

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Glencore and Xstrata
葛乐库+超斯特拉特!
Miner irritations
采掘业之持久战
The tortuous route to a mining mega-merger
来之不易的强强联手
Sep 15th 2012 | from the print edition

AS A former champion race walker, Glencore’s boss, Ivan Glasenberg, knows all about ungainly ways of getting from A to B. The merger of equals between his mining and commodities trader and Xstrata, another mining behemoth, proposed in February this year, has proved just as odd a spectacle as any walking race and with as many twists and turns. But the result now looks just as some pundits predicted when the deal was first mooted: Glencore is upping its offer a bit to ensure that the deal goes through.

葛乐库（Glencore）的老板伊万·格勒森博格（Ivan Glasenberg）曾几何时也是个不负盛名的竞走冠军——他肯定熟知怎么从甲地“扭”到乙地。这次他又终于“扭”到了并购的终点。格勒森博格的矿业及商业贸易集团与矿业巨头超斯特拉特（Xstrata）于今年2月宣布了兼并计划。尽管过程实在蜿蜒曲折，但就目前看来——还是如许多评论员一开始所预测的那样——葛勒库为了成功收购超斯特拉斯，还是以向上调整了他的报价。

The original offer, recommended by its board, was for Xstrata’s investors to get 2.8 Glencore shares for each of their own. Most analysts reckoned that Glencore might have to stump up a bit more. What they had not reckoned on was the emergence of Qatar’s sovereign-wealth fund as a big shareholder in Xstrata. As the deal progressed it added to a small stake, amassing 12% of the firm.

刚开始的时候，葛乐库董事会提出的收购方案是：超斯特拉特的投资者每10股折换28股葛乐库公司的股份。当时就有许多评论员预计，葛乐库最终还会有所让步，给出更多对价的方案。但出乎他们意料的是，卡塔尔主权财富基金竟然新近出现在了超斯特拉特的大股东名单上。随着收购进程的逐渐推进，卡塔尔不断地吸筹，最终取得了超斯特拉特12%的股权。

A row over generous retention bonuses for Xstrata’s bosses seemed to be the biggest threat to the deal. Then in June the Qataris surprised and annoyed both firms by demanding a price of 3.25 Glencore shares as their price for support. The “scheme of arrangement” for the merger required backing from 75% of Xstrata’s shareholders. Given that Glencore’s 34% stake in Xstrata would not be voted, Qatar’s holding amounted to a blocking stake.

对于超斯特拉特原高管的高薪留任问题存在诸多争议，许多人都认为其可能成为该并购案成功的最大障碍。但到了6月，卡塔尔出人意料地要求葛乐库以10:32.5的对价收购，否则将拒绝并购协议。尽管卡塔尔的收购要求至少要获得超斯特拉特总股本75%的支持，但因为葛乐库在超斯特拉特的34%股份不能参与投票，卡塔尔所持有的股份数足以使其拥有一票否决权。

Mr Glasenberg, an obdurate character, refused to budge, saying that he did not regard the tie-up as a “must do” deal anyway. Yet Glencore’s initial public offering (IPO) last year went ahead mainly to give his firm the currency to make an offer for Xstrata. The logic of the deal is compelling. Scale is everything in mining and their close relationship (Xstrata was created in a spin-off of Glencore’s coal mines in 2002) should make integration straightforward and cost savings plentiful by marketing all of Xstrata’s output through Glencore.

性格固执的格勒森博格当然对该提案嗤之以鼻，进而提出了中止并购的可能。不过，这并不是说葛乐库缺少收购资金。相反，去年该公司成功向公开市场发行新股，所募资金足以为其收购超斯特拉斯提供必要的资金支持。在该收购案中，交易双方的关系一直暧昧不清。对于采掘业而言，集团规模是最具决定性的评价标准。2002年，超斯特拉特从葛乐库的煤矿部门分离出来，成立了独立的公司。他们曾经的这层关系，理应会促使收购顺利进行。通过葛乐库集团的销售网络，超斯特拉特可以轻松卖出所有矿产，积聚大量财富。

It was odd, too, that the Qataris should take such a hard line and risk the deal foundering. The fund planned to become a big investor in Glencore at its IPO but it wanted a discount, which neither Glencore nor stockmarket rules would allow. Most analysts reckon that the Qataris bought Xstrata’s shares as a way of getting a stake in Glencore cheaply when the deal, which it was now threatening, went through. But as commodity prices turned and Xstrata’s shares fell by 30% in May and June, the Qatari fund found itself a long way out of pocket. Analysts suspect that this explains the sudden demand for more cash.

然而，卡塔尔人却冒着终止收购的风险，从中作梗，这实在令人费解。早在葛乐库今年发行新股的时候，卡塔尔就想大举购入葛乐库股份。只因葛乐库拒绝当时他所提出的折价要求，而只得作罢（其实也不符合证券交易规则）。许多分析人士猜测，此次卡塔尔购入超斯特拉特的股份，其目的就是以较为优惠的价格变相持股葛乐库——当然前提条件是收购成功，不过好像当时前景堪忧。但近期商品价格的行情反转直下，超斯特拉特股价在5、6两月跌幅已达30%，卡塔尔基金的钱袋子也随之大幅缩水。有人分析称，卡塔尔如此出人意料地要求提高收购价格，可能与其目前的困境不无关系。

The deal was on the verge of collapse before a last-gasp meeting between the Qataris and Glencore on September 6th, a day before the new deadline. That it was brokered at Glencore’s request by Tony Blair, a former British prime minister turned Middle East peace envoy, added another layer of intrigue to the saga. The result was that Glencore and the Qataris shook hands on a price of 3.05 Glencore shares per Xstrata share.

9月7日向后刷新了终止收购的“死期”。就在最后关头的9月6日，塔卡尔和葛乐库进行了最后的较量。英国前首相、现任中东和平特使托尼·布拉尔（Tony Blair）作为中间人试图调停这场纷争——其实他更偏向于葛乐库的诉求。这一人物的出现，瞬间使得原本就错综复杂的局势显得更为扑朔迷离。最终，葛乐库与卡塔尔终于握手言和，以10:30.5的对价完成收购。

Some investors may still object to the watered-down retention bonuses set to be paid to Xstrata’s bosses. Another risk is the price Glencore has extracted for giving in to the Qataris: Mick Davis, Xstrata’s chief executive, who was originally to have taken the reins permanently at the new firm, will now do the top job only for six months before handing over to Mr Glasenberg. Xstrata’s board will decide on the new offer by September 24th but looks likely to agree, having previously given the nod to a price of 2.8 shares, as long as it also reckons that Mr Davis’s swift departure is in its shareholders’ interests.

超斯特拉特原高管留任后的薪酬最终被大幅削减，其部分股东对此仍持反对意见。作为与卡塔尔妥协所付出的代价，超斯特拉斯的行政总裁迈克·戴维斯（Mick Davis）再待6个月后，将由格勒森博格接任（戴维斯届时也将被降职）——在原先的协议中，戴维斯将永久留任掌控公司。最新的收购协议将在9月24日前提交超斯特拉特董事会表决。之前，董事会拒绝了10:28的对价方案。这次，超斯特拉特董事会则很有可能通过新协议——除非其认为，戴维斯提早离任不符合股东利益。

Ivan the credible
伊万还真有两刷子

A deal that now looks more like a takeover of Xstrata by Glencore may not be such a bad thing. A company in the mould of Glencore may be better placed to withstand the current slump in commodity prices. Critics who argue that only Mr Davis knows how best to run a mine and dismiss Mr Glasenberg as no more than a wily trader ignore Glencore’s ability to build top-class assets such as Prodecco, a Colombian coal mine.

其实，由格勒森博格执掌超斯特拉特也并不是件坏事。葛乐库系的公司对于目前疲软的商品价格具有更强的抵抗力。反对此次协议的人称，只有戴维斯才真正懂得如何运营管理矿业公司，而格勒森博格只是个整天投机倒把的商人。显然，他们忽视了葛乐库一手经营的部分优质资产，比如哥伦比亚煤矿公司普乐迪可（Prodecco）。

Xstrata’s focus on capital-hungry organic growth and greenfield projects looks less attractive now that commodity prices are falling. These grand schemes invariably arrive late and over budget. Glencore’s way of growing is to sniff out bargains among the 7,000 suppliers to its trading arm, buying smaller, undervalued assets in places where other big miners would fear to tread (such as hairier parts of Africa and Central Asia) when opportunities present themselves. This avoids the risks of breaking ground for a new mine.

超斯特拉特坚持于扩大再生产以及新矿开采。由于商品价格的持续下跌，需要大量资本支持的这些项目就出现了资金问题。现在才去制定这些庞大的计划，显然太晚了——项目本身也超出了预算约束。现在总共有7千家与葛乐库相似的矿产供应商，葛乐库通过并购这些贸易竞争者来壮大集团规模。还有许多矿业巨头无力涉足的小型廉价矿产（如一些位于非洲、中亚等危险地带的矿产资源），葛乐库通过低价收购这些矿产，轻易获得资源储备。这些举措都使其避免了开采新矿的资金风险。

Glencore also has more sources of profits than just mining. As Ash Lazenby of Liberum Capital, a broker, points out, a Glencore-led firm could look beyond coal and industrial metals. Its recent acquisition of Viterra, a Canadian grain-handling firm, shows that Glencore’s trading business gives it an eye for an opportunity that other big miners could not contemplate. This doubtless explains why Mr Glasenberg gave in to the Qataris rather than walk away from the deal.

除了采掘这一主业外，葛乐库还有许多其他的利润来源。ALLC公司（Ash Lazenby of Liberum Capital，中介机构）指出，葛乐库集团的着眼点不只是煤矿和金属矿石。它最近收购了一家加拿大谷物处理公司范特拉（Viterra）。这一举措说明，葛乐库的贸易经验使其拥有其他矿业巨头所欠缺的嗅觉和眼力。也正是他敏锐的洞察力，使其选择与卡塔尔比翼双飞而非斩断情愫。

from the print edition | Business

(译文版权由我所有，欢迎交流)

!感-杠-问?

重大修改！如下：

Scale is everything in mining and their close relationship (Xstrata was created in a spin-off of Glencore’s coal mines in 2002) should make integration straightforward and cost savings plentiful by marketing all of Xstrata’s output through Glencore.

对于采掘业而言，集团规模是最具决定性的评价标准。2002年，超斯特拉特从葛乐库的煤矿部门分离出来，成立了独立的公司。他们曾经的这层关系，理应会促使收购顺利进行。通过葛乐库集团的销售网络，超斯特拉特可以轻松卖出所有矿产，大幅缩减销售成本。

这句话我本来翻译的时候就觉得很奇怪，当时的断句是：their close relationship should make integration straightforward and cost savings plentiful by marketing all of Xstrata’s output through Glencore.，误认为是make和cost并列了。

前面猛然开窍了= =、正确的断句应该是：their close relationship should make integration straightforward and cost savings plentiful by marketing all of Xstrata’s output through Glencore.，即make cost savings plentiful ...，cost savings表示“成本节约”，作make的宾语，plentiful宾补

!感-杠-问?

Glencore and Xstrata
Miner irritation[D1]  
The tortuous route to a mining mega-merger
Sep 15th 2012 | from the print edition

AS A former champion race walker, Glencore’s boss, Ivan Glasenberg, knows all about[D2] ungainly ways of getting from A to B. The merger of equals between his mining and commodities trader and Xstrata, another mining behemoth, proposed in February this year, has proved just as odd a spectacle as any walking race and with as many twists and turns[D3]. But the result now looks just as some pundits predicted when the deal was first mooted: Glencore is upping its offer[D4] a bit to ensure that the deal goes through[D5].

The original[D6] offer, recommended by its board, was for Xstrata’s investors to get 2.8 Glencore shares for each of their own. Most analysts reckoned[D7] that Glencore might have to[D8] stump up[D9] a bit more. What they had not reckoned on[D10] was the emergence of Qatar’s sovereign-wealth fund as[D11] a big shareholder in Xstrata. As the deal progressed[D12] it added to a small stake, amassing 12% of the firm.

A row over[D13] generous[D14] retention bonuses[D15] for Xstrata’s bosses seemed to be[D16] the biggest threat to[D17] the deal. Then in June the Qataris surprised and annoyed[D18] both firms by demanding a price of 3.25 Glencore shares as their price for[D19] support. The “scheme of arrangement[D20]” for the merger required backing[D21] [D22] from 75% of Xstrata’s shareholders. Given that[D23] Glencore’s 34% stake in Xstrata would not be voted, Qatar’s holding amounted to[D24] a blocking stake[D25].

Mr Glasenberg, an obdurate character, refused to budge, saying that he did not regard the tie-up as[D26] a “must do” deal anyway[D27]. Yet[D28] Glencore’s initial public offering (IPO) last year went ahead mainly to give his firm the currency to make an offer for Xstrata. The logic of the deal is compelling[D29]. Scale is everything in mining[D30] and their close relationship (Xstrata was created in a spin-off of Glencore’s coal mines in 2002) should make integration straightforward[D31] and cost savings plentiful by marketing[D32] all of Xstrata’s output[D33] through Glencore.

It was odd[D34], too, that[D35] the Qataris should take such a hard line and risk the deal foundering[D36]. The fund planned to become a big investor in Glencore at its IPO but it wanted a discount, which neither Glencore nor stockmarket rules[D37] would allow. Most analysts reckon that the Qataris bought Xstrata’s shares as a way of[D38] getting a stake in Glencore cheaply when the deal, which it was now threatening, went through. But as commodity prices[D39] turned and Xstrata’s shares fell by 30% in May and June, the Qatari fund found itself[D40] a long way out of pocket[D41]. Analysts suspect that this explains the sudden demand for more cash.

The deal was on the verge of[D42] collapse before a last-gasp meeting between the Qataris and Glencore on September 6th, a day before the new deadline. That it was brokered at Glencore’s request by Tony Blair, a former British prime minister turned Middle East peace envoy, added another layer of intrigue to the saga. The result was that[D43] Glencore and the Qataris shook hands on a price of 3.05 Glencore shares per Xstrata share.

Some investors may still object to[D44] the watered-down retention bonuses set to be paid to Xstrata’s bosses. Another risk is the price Glencore has extracted for giving in to[D45] the Qataris: Mick Davis, Xstrata’s chief executive, who was originally[D46] to have taken the reins[D47] permanently[D48] at the new firm, will now do the top job only for six months before handing over to Mr Glasenberg. Xstrata’s board will decide on[D49] the new offer by September 24th but looks likely to[D50] agree, having previously[D51] given the nod to a price of 2.8 shares, as long as[D52] it also reckons that Mr Davis’s swift departure is in its shareholders’ interests[D53].

Ivan the credible[D54]

A deal that now looks more like a takeover of Xstrata by Glencore may not be such a bad thing[D55]. A company in the mould of Glencore may be better placed to[D56] withstand[D57] the current slump in[D58] commodity prices. Critics who argue[D59] that only Mr Davis knows how best to run[D60] a mine and dismiss Mr Glasenberg as no more than[D61] a wily trader ignore Glencore’s ability to build top-class[D62] assets[D63] such as Prodecco, a Colombian coal mine.

Xstrata’s focus on[D64] capital-hungry[D65] organic growth and greenfield projects looks less attractive now that[D66] commodity prices are falling. These grand schemes invariably[D67] arrive late and over budget. Glencore’s way of growing is to sniff out[D68] bargains among the 7,000 suppliers to its trading arm, buying smaller, undervalued[D69] assets in places where other big miners would fear to tread (such as hairier[D70] parts of Africa and Central Asia) when opportunities present themselves[D71]. This avoids the risks of breaking ground for a new mine.

Glencore also has more sources of profits than just[D72] mining. As Ash Lazenby of Liberum Capital, a broker, points out[D73], a Glencore-led firm could look beyond[D74] coal and industrial metals. Its recent acquisition of Viterra, a Canadian grain-handling firm, shows that Glencore’s trading business gives it an eye for an opportunity[D75] that other big miners could not contemplate. This doubtless[D76] explains why Mr Glasenberg gave in to the Qataris rather than[D77] walk away from the deal.

from the print edition | Business

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[D1]irritation（有annoyance的意思）
[D2]know about（注意与know的区别）
[D3]The merger has proved just as odd a spectacle as any walking race and with as many twists and turns.（这句描写很漂亮，表示困难、曲折的时候可以使用的句子，更改主语即可）
[D4]offer（意思很多，此处有bid的意思）
[D5]go through
[D6]original（类似的还有former、first等）
[D7]reckon that
[D8]might have to（对未来的猜测）
[D9]stump up
[D10]reckon on
[D11]the emergence of A as B（用名词结构表达句子意思）
[D12]As ... progressed（句首，起连接过度的作用）
[D13]a row over（有controversy、debate的意思，运用在作文开头较为常见，可以是驳论文也可以是理论文，但驳论文更为常见）
[D14]generous（表示数量上的多）
[D15]bonus(es)（有salary、welfare的意思，但严格意义上说有所区别）
[D16]seem to be（系动词的一种）
[D17]the threat to sth
[D18]近义复用是一种写作技巧
[D19]the price for sth.（可褒可贬可中性）
[D20]scheme of arrangement
[D21]require doing（=require to be done，主动形式表被动意义）
[D22]A be backed from / by B（常用被动，有be supported by的意思）
[D23]Given that ...（一般句首，表条件或原因，given与主语没有语态关系，只可用given，不可用giving）
[D24]amount to（表结果，相似的还有lead to、result in、account for等）
[D25]someone's / something's holding amounts to a blocking stack（这个句型可以推广使用，表示某事/某人起到决定性作用）
[D26]regard A as B
[D27]anyway（表让步）
[D28]yet（表转折，特别是轻微转折）
[D29]compelling（替换interesting、attractive等）
[D30]A is everything in / for / to etc B（表示重要性的句型）
[D31]straightforward（替换directly等）
[D32]market（有sale的意思）
[D33]output（有product的意思）
[D34]odd（意思很多）
[D35]It was + adj. + that ...（观点句，that是主语）
[D36]founder
[D37]neither ... nor ...（注意主谓一致）
[D38]as a way of (doing) sth.（表方式）
[D39]commodity prices
[D40]find oneself ...（善用反身代词）
[D41]out of pocket（相当于lack of money）
[D42]on the verge of ...（相当于at the time of ...）
[D43]The result was that ...（表结果）
[D44]object to sth.（有refuse的意思）
[D45]give in (to sb.)
[D46]originally（时间上的早）
[D47]take the reins（相当于下文的do the top job）
[D48]permanently（类似的还有eternally、for good等，替换for ever）
[D49]decide on（注意与decide的区别）
[D50]It looks likely to do sth.（观点句，likely软化语气）
[D51]previously（时间上的早）
[D52]as long as（连词词组，表条件）
[D53]be in one’s interests
[D54]credible（有trustful的意思）
[D55]... may not be such a bad thing.（驳论文常用句型，先说不好再说好）
[D56]be placed to do sth.
[D57]withstand
[D58]a slump in sth.
[D59]argue that
[D60]run
[D61]no more than（表肯定）
[D62]top-class
[D63]assets（表示钱的词很多）
[D64]one's fucus on
[D65]capital-hungry（可以推广到A-hungry，A可以替换成任意合适的词汇）
[D66]now that（连词，表原因或伴随状态）
[D67]invariably（加强语气的副词）
[D68]sniff out sth.（替换look for sth.）
[D69]undervalued
[D70]hairy（有dangerous的意思）
[D71]something present itself
[D72]than just（表示“不止”的意思，替换not only ... but also ...）
[D73]point out
[D74]look beyond
[D75]an eye for an opportunity
[D76]doubtless（加强语气的副词）
[D77]do A rather than do B（做A不做B）