谁能提供一篇关于金融危机的短篇英语演讲稿？

16th nov 2008 afternoon at guangdong university of foreign studies
teacher said the artical ** digested from"new york times
china unveils sweeping plan for economy
shanghai-china announced a huge ecomonic stimulus plan on sunday aimed at bolstering its weakening economy,a sweeping plan move that could also help fight the effects of the global slowdown.
at a time when major infrastructure projects are being put off around the world,china said it would spend an estimated$586 billion over the next two years-roughly 7 percent of its gross domestic product each year-to construct new railways,subways and airports and to rebuild communities devastated by an earthquake in the southeast in may.
the package,annonuced sunday evening by the state council,or cabinet,** the largest economic stimulus effort ever undertaken by the chinese **.
over the past two months,the global financial cr**** has been intensifying daily,"the state council said in a statement."in expanding investment,we must be fast and he**y-handed.
the plan was unveiled as finance min**ters from the group of 20 nations met in sao paulo,brazil,over the weekend.
it came less than a week before president hu jintao was scheduled to tr**el to washington for a global economic summit meeting hosted by president bush.
on sunday mr.hu spoke by telephone with president-elect barack obama about a variety of **sues,including the global financial cr**** and how their countries might cooperate to help resolve ceonomic problems.
asian markets welcomed news of the stimulus plan.the japanese nikkei indes rose 5.6percent in trading early monday.stocks in hongkong and shanghai rallied strongly,jumping over 5percent and lifting share prices that h**e been depressed for much of the year.
although beijing has indicated that it will focus on keeping **t own ceonomy on track,it ** difficult to insulate any economy from a golbal downturn.after five years of growth in excess of 10 persent,china's economy ** beginning to weaken.growth in exports and investment ** slowing,consumer confidence ** waning and stock and property market are severely depressed.
the stimulus plan,though driven by domestic concerns,represents a fresh commitment by china to keep from adding to the economic and financial woes of the united states and europe.it ** also likely to cheer foreign investors in china's economy by ensuring that the country remains a source of growth.
china'spackage ** not comparable to f**cal stimulus measures that are being d**cussed in washington.in china,much of the capital for infrastructure improvements comes not from central and local **s but from state banks and state-owned companies that are encouraged to expand rapidly.
the plan also differs from the$700 billion financial rescue package approved by congress,which has helped strengthen bank balance sheets but did not directly mandate new lending or support specific investment projects in the united states.
china's overall ** spending remains relatively low as a percentage of economic output compared with the united states and europe.yet beijing maintains far control over investment trends than washington does,so it has greater flexibility to increase investment to counter a sharp downturn.
it was unclear how chinese officials arrived at the$586 billion figure or how much of the stimulus would be spending above what beijing normally earmarks for infrastructure projects.beijing said it was loosening credit and encouraging state-owned banks to lend as part of a more"proactive f**cal policy
the ** said the stimulus would cover 10 areas,including low-income housing,electricity,water,rural infrastructure and rojects aimed at environmental protection and technological innovation-all of which could incite consumer spending and bolster the economy.the state council said the new spending would begin immediately,with$18billion scheduled for the last quarter of th** year.
state-driven investment projects of th** kind h**e been a major impetus to chinese growth throughout the 30 years of market-oriented reforms,a strong legacy of central planning.
the biggest players in many major chinese industries-like steel,automobiles and energy-are state-owned companies,and ** officials locally and nationally h**e a hand in deciding how much bank lending ** steered to those sectors.
the investment numbers announced by china's central ** often include projects financed by a variety of sources,including state-backed entities and even foreign investors.
beijing ** struggling to cope with rapidly slowing economic growth.a downturn in investment and exports has led to factory closings in southern china,resulting in mass layoffs and even setting off sporadic protests by workers who h**e complained that owners d**appeared without paying them their wages.
with many econom**ts in china now projecting that growthin the fourth quarter of th** year could be as low as 5.8percent,and amid worries that the country's economy could be walloped by the global financial cr****,beijing ** moving aggressively.
analysts were expecting china to announce a big stimulus package,but they said they were surpr**ed at its size."that ** much aggressive than i expected,"said frank gong,an econom**t at j.p.morgan who ** based in hongkong."that's a lot of money to spend
mr.gong saidthat after the asian financial cr**** in 1997,beijing undertook a similar,but much **aller,stimulus package,earma**ng hugesums to build the country's highway and toll-road system,projects that helped keep the economy growing.
arthur kroeber,managing director at dragonomics,a beijing-based economic research firm,said the ** was concerned because people in china had suddenly pulled back on spending as a precautionary move because of worries about china's suffering with the global economy.
the ** ** sending a signal saying:we're going to spend in a big way"mr.kroeber said sunday in a telephone interview."th** ** designed to say to the market that people should not panic