【全浸伴读】-Corporate Investment
全浸阅读=Total Immerse Dynamic eReading=TIDE

☺阅读建议 在读文章之前,要想一想为什么要读?为了它的什么而读?有用的信息?借鉴作者的观点?学习逻辑分析?还是欣赏他的perspective?insight?or writing style?
全浸阅读遵循一个理念,less is more. 什么是less?less就是专注focus,不需要各种各样的杂志和文章都看全,you can not kiss all the girls in the world; 阅读跟游戏中攻城略地是一样的,开局只有一个你自己,然后每一个新单词都是你的新兵,每认识一个句子你就多一个新野战排,新兵新排再训练重组熟悉,内化变成你的精锐部队帮你开疆扩土;而全浸一篇某一个类型的典型文章就是攻下一整个城池,掌握了这一个城池内部的逻辑结构与建筑特点,你就掌握了以后会碰到的所有类似的城池,所谓的攻无不克,战无不胜,其实都来自于对自己那一座城的全浸把握. 今天这篇文章是business文章,关于疫情后的公司投资,这一类的文章除了能帮读者迅速了解经济环境外,还提供了一个整合的机会让读者迅速学习如何理解和描述经济形势和环境变化,其中包括数字的比较,各个行业以及管理层面的变化趋势以及内部动因。 经济学人的文章每一篇都值得英语学习者读熟, 读透, 读烂,所谓熟读唐诗三百首,不会吟诗也会偷. 记得赵敏在武当山上送给张无忌一封信, 如字:
金盒夹层,灵膏久藏。珠花中空,内有妙方。二物早呈君之左右,何劳忧之深也?唯以微物不足一顾,委诸尘土,赐于婢仆,岂贱妾之所望耶?
Corporate Investment?
Firms are rediscovering their love for capex. Good That is both a radical change and an enormously important one
Analytical reading(in-depth reading) P1①②③④⑤⑥⑦⑧164words
①AS THE RICH world reopens, the contours of the post-pandemic economy are becoming clear. ②The latest trend is a global surge in capital spending. ③Forecasters reckon that overall real investment worldwide will soon be a fifth higher than it was before the pandemic. ④America’s business investment is rising at an annual rate of 15%. ⑤By 2022 companies in the S&P 500 are forecast to be spending over a tenth more on factories, technology, R&D and the like. ⑥Barely a day goes by without a large firm boasting about how much it plans to splurge. ⑦AT&T says it will throw $24bn a year at its networks. Sony is piling $18bn into an expansion push. ⑧Semiconductor firms are engaged in one of the biggest capital-spending (or capex) sprees in history.
♖助读笔记
①AS THE RICH world reopens, the contours of the post-pandemic economy are becoming clear.
as...the ....world reopen,常用的环境改变开局句子。这个world可以是实际的世界,也可以是virtual world, thinking world,the world of mind or emotion. the contours of sth are becoming clear:contour=con+tour, the outline of sth; 开头是一个场面和景象视觉描述性的呈现,As a world reopen,the contours are becoming clear, 像大电影的开局。what world?the rich world,what contours?the post-pandemic economy;reopen通常都会对用一个post-sth,post-war,post-disaster;
②The latest trend is a global surge in capital spending.
the latest trend is a global surge in capital spending. 这是该类型文章常见的核心句. global可以换成regional,也可以换成某行业 industrial ,surge可以换成rise,soar,or skyrocket;in后面可以换成consumer spending,government investment,national debt等与花费和投入相关的数字.
③Forecasters reckon that overall real investment worldwide will soon be a fifth higher than it was before the pandemic.
主题句抛出来之后,就是各种专家学者权威上场时间:第一轮,forecasters先出来,reckon,decide after calculating,overall worldwide先从全局说起,a fifth higher;后面肯定是回到局部做比较,America如何?
④America’s business investment is rising at an annual rate of 15%. ⑤By 2022 companies in the S&P 500 are forecast to be spending over a tenth more on factories, technology, R&D and the like.
America‘s biz investment is rising,后面跟at an annual rate of 15%;annual可以换成monthly等不同时间周期;继续缩少范围到S&P500 by 2022,a tenth more; 前面是a fifth higher,这里改成了more, 并给出了spending的去处,on factories...and the like.
⑥Barely a day goes by without a large firm boasting about how much it plans to splurge.
否定之否定的强调。Barely a day goes by+without sth happen; 耳边响起张学友先生翻唱黎明先生的《哪有一天不想你》"Barely a day goes by without any single heart beat of mine reminding myself how much i love and miss you." splurge, overspend, spend too much, squander.
⑦AT&T says it will throw $24bn a year at its networks. Sony is piling $18bn into an expansion push.
throw, spend easily扔钱; pile=stack堆钱; an expansion push, 又expan又push,叠在一起相当动态,double shot双响炮
⑧Semiconductor firms are engaged in one of the biggest capital-spending (or capex) sprees in history.
engage in sth, involve. 这里有一个文章开头用过的金融术语的解释capex=capital spending. spree, binge, an unrestrained indulgence.
❖Para core
句①用As the rich world reopens开篇,用时间镜头拉开改变的序幕。A close of an era(post-pandemic)=a new time comes; 注意第一句开头用的rich,决定了整篇文章的基调,the world is rich now! 然后马上推出topic sentence 句②The latest trend is a globalsurge in capital spending. It is a trend, it is the latest, it is global, and it is a surge. surge 名词原意是billow,large wave, 是滔滔巨浪, 所以后面所描述的investment都不是spend,而是throw, pile, splurge; 看用词的词性就看出笔者的态度the tone and manner. ③④⑤给出不同范围的预测,由大到小;⑥是小结句表个态度。⑦⑧给出corporate的例子,毕竟题目是corporate investment,corporates早晚要出场。
❖ Key words
rich/contour/surge/splurge/throw/pile/engage/spree
P2①②③④⑤126words
①That is both a sharp change and an enormously significant one. Sharp, because before covid-19 managers embraced capex austerity. ②America’s business investment had stagnated relative to GDP for several decades. ③Britain’s was 15% lower than in the late 1990s.④ Even as business profits soared, firms devoted a smaller share of their cashflows to capex and R&D, and more to share buybacks and dividends. ⑤Significant, because investment in new technologies and business practices is the secret sauce behind higher living standards. ⑥Weak capital spending contributed to the rich world’s sluggish productivity and growth in the 2010s, and to the gnawing sense that capitalism was misfiring.
♖助读笔记
①That is both a sharp change and an enormously significant one. Sharp, because before covid-19 managers embraced capex austerity.
回想文章开头标题后面作者给出的快评,
Firms are rediscovering their love for capex. Good
That is both a radical change and an enormously important one;
这里不过是重新复述一遍,sharp change vs radical change; enormously significant 换成了 enormously significant. 到目前为止使用的形容词都是大剂量的"猛药", austerity vs 前文的splurge/spree, self-controlled, disciplined.
embrace vs 前面的engage
第二段第一句再次给出作者观点态度。
②America’s business investment had stagnated relative to GDP for several decades.③Britain’s was 15% lower than in the late 1990s.
stagnate, verb of stagnant, little activities or changes; 留意这里的经济常用比较表达,biz investment stagnate relative to GDP, GDP 是investment的源头,他们的比较是常态。这里开始提供 old time figures,before-pandemic.
④ Even as business profits soared, firms devoted a smaller share of their cashflows to capex and R&D, and more to share buybacks and dividends.
soar vs 第一段的surge;devote,spend all. 注意文章中各种各样spend的表达.
buybacks回购
A buyback is when a corporation purchases its own shares in the stock market.
dividend股息/分红
dividends are a form of investment return paid directly to shareholders out of company profits.
⑤Significant, because investment in new technologies and business practices is the secret sauce behind higher living standards.
significant again. secret souce behind常用表达,想想功夫熊猫中阿宝爸爸的secret sauce of noddle soup.
⑥Weak capital spending contributed to the rich world’s sluggish productivity and growth in the 2010s, and to the gnawing sense that capitalism was misfiring.
weak capital spending, sluggish prodctivity 这里的描述是before the reopen of the rich world, 对比一下用词. sluggish vs 前面的stagnate, slow, 关联一下上一篇全浸伴读《decision fatigue》里面的 mental lazy,slacking。 gnaw=a bite or a chew with teeth, gnawing, constan pain or suffering. misfire,fail, go to the wrong way.
❖Para core
第一句用一句评价承接第一段,the change is sharp and significant ②③④解释为何说其sharp:austerity ⑤⑥解释为何significant: sluggish and misfiring
❖ Key words
sharp/enormously/significant/austerity/stagnate/secret sauce/gnaw/misfire
P3①②③④④⑤⑥102words
①Now, though, all that is changing. ②Fiscal stimulus has put money in people’s pockets. ③In America real disposable income per person is 27% higher than it was in February 2020. ④And as economies reopen, people are in the mood to spend. ⑤Companies can thus be more confident there will be demand for their wares in the next few years—as good an incentive as any to expand capacity. ⑥Some firms, especially in consumer-facing industries, are low on inventory and are frantically trying to catch up.
♖助读笔记
①Now, though, all that is changing.
转场句,从过去回到现在
②Fiscal stimulus has put money in people’s pockets.
fiscal stimulus 可以用来涵盖一切的央行放水和经济刺激政策 put money in someone's pockets非常形象, 放钱入你袋
③In America real disposable income per person is 27% higher than it was in February 2020.
disposable imcome per person 经济术语 dispose, deal with/settle.
④And as economies reopen, people are in the mood to spend.
reopen again. in the mood to spend vs put the money in pocket, 有钱又有mood,当然要spend
⑤Companies can thus be more confident there will be demand for their wares in the next few years—as good an incentive as any to expand capacity.
wares=products; as good an ...as any... to 足够好的(原因动机)....去做某件事
这里用的是incentive刺激 vs 前面的stimulus;从consumer视角转移到company视角
⑥Some firms, especially in consumer-facing industries, are low on inventory and are frantically trying to catch up.
consumer-facing industries, to C companies; low on inventory 商业用语, 库存低;inventory, the quantity of goods or materials on hand; frantically, nervously hurried, desperate, or panic-stricken way;
❖Para core
第①句拉回现在②③④从consumer看why spend⑤⑥从company视角看why spend
❖ Key words
fiscal stimulus/pocket/disposable income/mood/
confident/demand/incentive/expand/inventory/frantically/catch up
P4①②③④96words
①Yet capital spending is rising not just because the economic cycle is on the up. ②Firms are also adjusting to permanent pandemic-induced shifts, from an emerging norm of “hybrid work” to greater online shopping. ③The big tech firms, whose products are so important to this shift, have led the investment charge. ④In 2020 they accounted for a third of total R&Dspending in the S&P500; this year they are boosting capex by 30% relative to 2019.
♖助读笔记
①Yet capital spending is rising not just because the economic cycle is on the up.
not just because, 还有其他原因;economic cycle is on the up经济文章常用句
②Firms are also adjusting to permanent pandemic-induced shifts, from an emerging norm of “hybrid work” to greater online shopping.
firms=companies; adjust to, change to; permanent shifts, shift=change, permanent shifts are changes never turn back to their formal forms. 这里有一个induced的collocation组词, pandemic-induced由疫情引发的, 可以演变成由其他原因诱发的,比如 hate-induced, war-induced; from an emerging norm of... to greater...某发展从初露端倪到风云压城. hybrid work 是疫情后高频用语, hybrid, mix, blended, 常见用法hybrid child, hybrid car; 这里描写动态变化的用语相当dynamic,值得反复学习。
③The big tech firms, whose products are so important to this shift, have led the investment charge.
Lead the charge 又是一个双响炮, lead, charge都有lead的意思,而这个charge又有充电的意思,这里是1.5个双响炮
④In 2020 they accounted for a third of total R&D spending in the S&P500; this year they are boosting capex by 30% relative to 2019..
account for 财经高频用语, take the shares of the figure, be the reason of a situation; boost capex, push/increase, spend more. boost by=increase by, 但更强力.
❖Para core
第①句提出一个新思路,yet not just because economic cycle.②③④指出一个pandemic-induced的permanent shifts, 这个shifts是spend的另一个原因
❖ Key words
economic cycle/permanent shifts/emerging/lead the charge
P5①②③④④⑤110words
①Other companies now recognise that they need to pull up their socks. High-street retailers are at last investing heavily in online offerings to compete with Amazon. ②Restaurants continue to improve their dine-at-home service even as dine-in reopens, allowing them to squeeze more sales out of preparing food. ③Consultancies are finding ways to let their staff remain connected when they are not in the office. ④Growth in global shipments of computers for companies will be even faster this year than last. ⑤All this promises a world in which people get more done in less time.
♖助读笔记
①Other companies now recognise that they need to pull up their socks. High-street retailers are at last investing heavily in online offerings to compete with Amazon.
pull up socks, try hard and improve. high-street, 商业街the high street of a town is the main street where most of the shops and banks are; offering vs wares vs products vs inventory.
②Restaurants continue to improve their dine-at-home service even as dine-in reopens, allowing them to squeeze more sales out of preparing food.
dine-at-home vs dine-in vs dine-out; dine in从饭店视角,dine out从顾客视角. squeeze more out of sth, squeeze, extract, deprive, get sth out.
③Consultancies are finding ways to let their staff remain connected when they are not in the office.
remain connected not in office回想前面的hybrid work
④Growth in global shipments of computers for companies will be even faster this year than last.
shipments=good shipping, 没有shipments哪里来的inventory/wares/products/ online offerings?
⑤All this promises a world in which people get more done in less time.
promise a world, 文章开头说的a rich world reopen, 这里继续魔幻;资本主义继续疯狂, people get more done in less time.
❖Para core
第①句拉开大幕,②③④运动员pull up their stocks, 纷纷上场,表演A rich world post-pandemic 的资本大戏。
❖ Key words
pull up stocks/high street retailers/dine-in dine-out/connect/shipment/promise
P6①②③④④⑤⑥101words
①Firms in some industries still play by the rules of the 2010s. ②Mining companies seem cautious about shelling out in order to relieve supply bottlenecks in commodity markets. ③Big hotel chains appear to have no plans to install rainforest showers in every room. ④And it remains to be seen whether the post-pandemic norm will be one of structurally higher investment spending, or whether firms slip back into their old ways. ⑤For now, though, stand back and appreciate the global capex surge. ⑥It promises a more dynamic form of capitalism.
♖助读笔记
①Firms in some industries still play by the rules of the 2010s.
结尾段, play by the rules, the rules of capital game
②Mining companies seem cautious about shelling out in order to relieve supply bottlenecks in commodity markets..
shell out=spend a lot money, 从shell里拿出, shell以前是purse, 想想贝壳以前是钱币. supply bottlenecks, 想想前面说的shipment is not recovered fully, and the inventory is under norm; commodity markets大宗商品
③Big hotel chains appear to have no plans to install rainforest showers in every room..
rainforest showers 听起来very romantic
④And it remains to be seen whether the post-pandemic norm will be one of structurally higher investment spending, or whether firms slip back into their old ways.
remains to be seen, not obvious yet; norm再次出现 vs前面的emerging norm. slip back into their old ways vs前面的permanent shifts;
⑤For now, though, stand back and appreciate the global capex surge.
stand back and appreciate 作者在描写完众生相后好整以暇的bystand.
⑥It promises a more dynamic form of capitalism.
promise again; dynamic form of capitalism, 资本主义的新一面.
❖Para core
第①句用some firms still play the old rule来为全景做补充,不是所有都splurge ②③④补充了舞台上配角mining/big hotel. ⑤⑥是收笔之作,在展开了一幅capitalism stroll后,他抽身而退,隔岸观火。
❖ Key words
rule/cautious/shell out/slip back into/promise/dynamic

♖Take away
1. words:
表示over spend 的用法
squander/spree//wear out/weary/splurge/shell out/throw/pile
2. The flow of reading dynamic
这一篇笔记写得比较细,目的是用一篇相对平实的商务文章分享在全浸阅读中的思考和节奏,重点是keep the flow and the reading dynamic
3. 描写一个(经济)环境的改变的全景画面, 各个party如何表现
这篇文章可以收藏作为同类型的典范.
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