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2019年11月17日 08:42:50 | 作者:医护专家 | 来源:新华社
Travel websites旅行网站David vs two Goliaths大卫对阵两大巨人TripAdvisor could challenge the big two providers of online travel services旅行顾问可能挑战两大在线旅游务的提供商Service poor, view disappointing务差,看起来让人失望“BREAKFAST is nasty, the rooms are nasty.” So complained a reviewer of anOregonguesthouse earlier this year. There is nothing unusual in that: all hotels must deal with the odd disgruntled guest. This critique, though, appeared on TripAdvisor, a travel-review website. When the correspondent went on to document drunken housekeepers and licentious receptionists, the owners sued him. It was more than a point of pride. What customers say on TripAdvisor can make or break hotels. Around 260m people visit the site each month to some of the 125m reviews.“早餐很糟糕,房间很差劲。”今年早些时候,一个者如此俄勒冈州宾馆。这很正常的:所有的酒店都必须应对那些对酒店有所不满的客人。不过,这条出现在一家旅行网站——旅行顾问(TripAdvisor)上。当记者继续报道了醉酒的酒店管家以及嚣张的接待员后,酒店所有者起诉了他。这不仅是出于对酒店的自尊。顾客在旅行顾问网站上的言论可能成就一家酒店,也可能毁灭它。每月约2.6亿人登陆该网站在1.25亿中查看自己想要的信息。The firm makes money by displaying prices from online travel-agents (OTAs) alongside its reviews, and then charging those agents each time a customer clicks through. It is such a good example of a network effect that it is the subject of a Harvard Business School (HBS) case study. The more users post reviews, the more useful the site is to those about to book a holiday. This makes it more important to hotels and travel agents, who offer better deals. This results in more traffic—and more reviews—closing the virtuous circle. Last year TripAdvisor reported revenue of 4.7m. Because users post reviews free of charge, in 2012, Jeffrey Bussgang, an HBS lecturer, calculated that its gross margin was an astounding 98%.该公司通过显示网上旅游社的报价以及顾客的相关来盈利。每个用户每次点击进入该网站,它都会向相关旅行社收取费用。对于哈佛商学院一个以网络效应为主题的案例研究来说,这是一个很好的例子。对于那些正打算预订假期的人,越多的用户发布,就越有帮助。对于酒店和旅行社,这也使得“哪家更划算?”的问题更加重要。这会导致更多的浏览量—更多的—逐渐打破良性循环。旅行顾问网站去年营收9.447亿美元。由于用户发布是免费的,据哈佛商学院的讲师Jeffrey Bussgang 计算,该公司2012年毛利率惊人的高达98%。For these reasons, some think TripAdvisor may be able to take on the “big two” OTAs, Expedia and Priceline, which on August 6th bought up to 10% of Ctrip, a large travel website in China. These firms sell flights and hotel rooms directly, rather than pass booking requests on to others, as TripAdvisor does. But, says Blake Harper of Wunderlich Securities, a stockbroker, the two ways of doing business are converging. Sites owned by the big two, such as Hotels.com and Booking.com, now encourage user reviews. At the same time, TripAdvisor has launched Instant Booking, which lets smartphone users complete their bookings without leaving the TripAdvisor site.出于这些原因,有些人认为旅行顾问公司也许能够取代两大网上旅行社:Expedia以及Priceline,其在8月6日买进了中国大型旅行网站—携程10%的股票。和旅行顾问公司一样,这些公司直接提供机票和酒店房间预订,而不是将预订请求转给他人。但是,美国德奇券的一个股票经纪人Blake Harper表示,这两种商业模式正在融合。如今,这两大网站的诸多子网站如Hotels.com 和 Booking.com正鼓励用户添加。同时,旅行顾问网站发布了即时预订功能,即智能手机用户可直接在旅行顾问网站上完成他们的预订。Instant Booking serves another purpose. Half of TripAdvisors traffic comes through mobile devices. Being able to book in a single place will make its app slicker. Moreover, smartphones are creating firms which cater to travellers when they arrive at their destination—and TripAdvisor is getting into that business. In May it paid a reported 0m for La Fourchette, an online restaurant-booking service. On 24th July it said it was paying 0m for Viator, a firm that sells guided tours and other touristy activities.即时预订功能也有另一个用途。旅行顾问网站一半的浏览量来自移动设备。能够仅在一个网站上完成预订将使其应用软件更进一步。此外,智能手机正促使一些公司成立,以为到达旅行目的地后的旅行者提供务。且旅行顾问公司正逐步开展这一业务。据报道,5月它花费1.4亿美元收购了一家在线餐厅预订务商La Fourchette。6月24日,它花费2亿美元收购一家提供导游以及其他观光务的公司Viator。TripAdvisors boss, Stephen Kaufer, denies he wants to take on the big two. “We are a media site,” he says. “I want Expedia and Priceline to thrive because they are my clients.” But soon, holidaymakers will be able to book their entire trips without leaving the TripAdvisor app. Rivals beware.旅行顾问公司的老板Stephen Kaufer否认其想要取代这两大网上旅行社。他说:“我们是一家媒体网站。我希望Expedia和Priceline能够繁荣发展,因为它们是我的客户。”但是很快,假期预订者将能够在旅行顾问应用软件上预订他们的整个旅程。竞争对手要小心了。 /201408/320554Leaders社论Securitisation券化Its back重新启动Once a cause of the financial worlds problems, securitisation is now part of the solution券化曾经是导致金融危机的因素之一,如今却能帮助解决金融难题GIVEN their role in the 2008 meltdown, and their subsequent branding as toxic sludge, it is not surprising that securitised financial products have had a quiet few years.鉴于2008年经济危机时所扮演的角色,以及随后被贴上的有毒污泥的标签,券化金融产品这几年的表现并不出乎人的意料。Yet the transformation of mortgages, credit-card debt and other recurring cashflows into new marketable securities is enjoying something of a resurgence.然而抵押贷款、信用卡债务和其他一些循环的现金流向新的可交易券的转变目前正在振兴。Once apparently destined for the financial history books, the alphabet soup of ABSs, MBSs, CLOs and others had a bumper year in 2013. More growth is expected this year.尽管曾经有过惨痛的经历,但是资产担保券、抵押贷款券和贷款抵押债券以及其他许多以字母简称命名的券在2013年却大获丰收。据预测,今年还会继续增长。Not everybody is thrilled.并不是所有人都对此满心欢喜。Some observers argue that the risks securitisation poses are too grave.一些观察家称券化带来的风险会非常严重。But its revival should be welcomed, for it is probably essential to continued economic recovery, particularly in Europe.但是尽管如此,重新启动券化还是众望所归,因为这对于经济的进一步复苏很可能是必需的,尤其是对于欧洲国家而言。Use carefully谨慎实行In its simplest form, securitisation is straightforward and beneficial.单纯来看,券化比较直截了当并且有着诸多优势。For example, a carmaker expecting lots of monthly payments from customers who have taken out financing can get investors to fund its business more cheaply by selling them its claim to those payments.例如,那些每个月从办理了汽车贷款的消费者那里获得贷款付的汽车制造商可以通过变卖这些款项的债权而让投资者以更低的代价进行投资。A bank on the receiving end of mortgage repayments or credit-card receivables can do something similar: bundle the loans up and sell them, or use them as collateral to get funding, which it can then use to issue more loans.按揭还款或者信用卡应收账款的收款可以效仿此番做法:将贷款集中起来卖掉,或者把他们当作抵押款使用以获得投资资金,这样一来,他们就能继续放贷。This boosts both credit and growth.这样不仅能够提升信用还能够促进经济增长。Used recklessly, though, securitisation can be dangerous.然而一旦使用不慎,券化也会带来危险。It fuelled the catastrophic boom in American subprime mortgages.之前,它曾刺激了美国次级抵押贷款的繁荣增长,但其影响随后被明是灾难性的。Some banks, aware that home loans would be sliced, diced, repackaged and sold on, gave up even cursory checks on their borrowers creditworthiness.部分意识到住房贷款将会被分解、重组和转卖,因而对贷款者信誉哪怕是最粗略的核查都放弃了。Investors piled in blindly, snapping up supposedly safe tranches of bundled-up debt that proved to be anything but.投资者们纷纷盲目涌入投资,抢购那批所谓的安全捆绑资金,但事实上这些资金并不如想象中那么优良。The boom turned to bust and bail-outs.这股投资热潮进而转向诸多破产,市场急需解救措施。Yet structured finance cannot bear sole responsibility for the crisis.然而结构化的金融业并不是经济危机的唯一祸根。It was more the conduit for irrational financial exuberance than its cause.与其说它是经济危机的根源不如说是它助了金融业的非理性繁荣一臂之力。Lax lending standards in boom times predate the emergence of securitisation by several centuries at least.在金融业繁荣时期实施宽松的借贷政策使得券化的兴起提前了至少几个世纪。Most structured products performed well through the crisis, with the notable exception of those related to American residential mortgages.大多数结构化产品在经济危机期间仍然表现良好,除了那些与美国住房抵押贷款有关的一些例外。Defaults in Europe remained low despite the recession.欧洲国家的债务违约情况并没有受经济危机的影响而明显加深。And although there are still risks, securitisation should be safer in the future than in the past because of new, post-crisis regulations to reduce the danger of excesses.尽管风险仍然存在,但比起过去券化在将来应该会相对较安全,因为危机过后重新制定的金融管理政策有利于减小过度放贷的可能性。The principle that the party creating a new security needs to retain some exposure to the underlying credit should help ensure that underwriting standards do not get too slack.产生新的有价券的一方必须保留能明其潜在信用的相关文件这一条例应该能够确保保险业管理政策不至于太过松弛。That will hamper the desirable transferring of risk but, given recent history, it is probably prudent to put a little sand in the gears.这将会限制风险的直接转移,但是,鉴于之前的经验,防患于未然可能会比较明智。Some of the Kafkaesque structures spawned by securitisation—such as collateralised debt obligations that invested in other CDOs that themselves invested in MBSs—have been made prohibitively difficult to recreate.由券化引起的一些奇怪结构—例如将债务抵押债券投资到其他的债务抵押债券,而这些获得投资的债务抵押债券本身则又投资到抵押付债券—已经被限制形成。That is also sensible: whereas simple securitisation should be welcomed back, the over-engineered versions that rendered the financial system needlessly opaque should not.这一做法也是很理智的:尽管单纯的券化回归应该受到欢迎,而那些太过凸显投资者个人利益并会致使金融系统变得迟钝的投资方式则不该受到期许。Europe stands to benefit most from securitisations return. Lenders across Europe are under pressure to improve the ratio of capital they hold to loans made.从券化的回归之中受益最大的仍然是欧洲国家。整个欧洲的国家都面临巨大的压力,它们都急需提高资金持有量对贷款额的比例。One way of doing this is to stop extending credit, which is, unfortunately, what many banks have done.解决此问题的途径之一是停止放贷,但遗憾的是,很多已经开始这样做了。If they instead slimmed themselves through securitisation, by bundling and repackaging loans and selling them to outside investors such as insurance firms or asset managers, they could lend more money to credit-starved companies.如果它们是通过集中和重组贷款并转卖给外部投资者诸如保险公司或者资产管理公司这种券化方式来向外贷款的话,那么它们就可以向资金极度短缺的公司以更大幅度放贷。That would have the added benefit of sping risk away from wobbly banks.这样做的额外好处是可以将风险从经营状况不佳的转移到其他地方。Securitisation certainly has a black mark against it, but it is far too useful to be banished for good.券化的回归当然会面临诸多困难,但是它的自身优势使得其不可能被永久弃用。Almost all financial innovations, from the humble mortgage to the joint-stock company, have had to re-establish their reputations after a bust at some point in their history.几乎所有的金融改革,从不起眼的抵押贷款到合股企业都曾经经历破产然后重塑形象。Society benefited from their eventual rehabilitation—as it most probably will from the revival of securitisation.而等它们最终成功恢复名声,社会将能从中收益—正如很可能从券化的回归中受益一样。 201401/273295Turkeys president土耳其总统Erdogan on top高高在上的埃尔多安It would be better for Turkey if the presidency remained mainly ceremonial土耳其的总统职务保持礼仪性岂不是更好RECEP TAYYIP ERDOGAN, Turkeys prime minister, certainly knows how to win elections. Since he helped to found the Justice and Development (AK) party 13 years ago, he has scored eight victories in a row. On August 10th he made it nine, winning Turkeys first direct election to the presidency, with a crushing 52% of the vote. Given what have been broadly fair polls, with mostly high turnouts, nobody can seriously challenge Mr Erdogans democratic credentials.自从13年前他帮助筹建了正义发展党(AK)后, 他便连续8次赢得大选。因此,土耳其首相埃尔多安当然知道如何赢得大选。8月10日,他再次获胜,以52%选票的压倒性优势赢得土耳其第一届总统直接选举。鉴于选举一直是广泛公平的,投票率高,没人能真正地质疑埃尔多安的民主资质。His achievements in over 11 years as prime minister are equally impressive. Since AK came to power in November 2002, economic growth has averaged some 5%. Inflation has been tamed. The army has been brought under greater civilian control. Mr Erdogan has made more progress than any previous political leader in giving Turkeys Kurds greater rights. In 2005 he achieved something that had eluded all his predecessors: the start of membership talks with the European Union.11年来,他作为首相的成绩同样斐然。自2002年AK党执政以来,经济年均增长5%左右,通胀得到抑制,军队管理十分民主。与土耳其之前的领导相比,在给予土耳其库尔德人更大的权利方面,他取得了更多的进步。2005年,他成就了一件足以让其他前任相形见绌的伟绩:开启加入欧盟的谈判。What makes this more troubling are Mr Erdogans plans to give the presidency, hitherto a ceremonial job, far more power. He wants to turn it into an executive position, as in France. To do this he must change the constitution, which usually needs a two-thirds majority in parliament. AK is unlikely to achieve that on its own, but it could secure enough votes by doing a deal with the Kurdish party. That would put Mr Erdogan in sight of his goal of an enhanced presidency, backed by a pliable prime minister, in which he could stay up to and beyond 2023, the centenary of Ataturks republic.然而,当埃尔多安意图给予总统这一礼仪性的职位更多权力时,这件事情就变动的不那么简单了。他想将总统职位转变成行政职务,如法国一样。为了达到这一目的,他必须修改宪法,而这需要议会2/3的多数同意。AK党不太可能只身实现这一目标,但是与库尔德党派合作则可能获得足够的票数。而此举,则会使埃尔多安对总统职权加强这一意图昭然若揭。表面上是无所事事的总理,这一职位他可以保持到2023年,恰好是土耳其共和国的百年纪念。Such an outcome is unappealing to those who believe in political pluralism. Powerful presidencies can work, but they need to be constrained by strong institutions of a sort Turkey still lacks. Mr Erdogans own autocratic tendencies compound this problem. But why should he pay any heed? There are two answers: a vulnerable economy and his own legacy.这样的结果对于那些信奉政治多元化的人来说毫无吸引力。强大的总统职权可以发挥作用,但是他们需要的是强有力的凝聚力的约束,而这正是土耳其所缺少的。埃尔多安的独裁趋势使这一问题更加复杂。但是,他为什么要在意这些问题呢?原因有二:经济脆弱,个人政治遗产。The biggest reason for Mr Erdogans poll victories is his delivery of rapidly rising living standards. But the economy is slowing. A gaping current-account deficit makes the country highly dependent on capital inflows; when global interest rates rise, Turkey could suffer. And it is caught in a “middle-income trap”, losing competitiveness in the basic goods it produces, but unable to move up to higher-tech ones. To keep growing, Turkey needs both liberalising reforms and foreign capital. Mr Erdogan has shown scant interest in reform. And although foreign investors stomach autocratic regimes around the world, they dont much care for social instability of the sort that Mr Erdogans type of polarising politics usually portends.埃尔多安选举获胜的最重要因素是他迅速提高了土耳其人的生活水平。但是,经济发展依然缓慢。目前财政赤字的漏洞高度依赖流入的资本,一旦国际利率上调,土耳其就得遭殃。而且,土耳其目前正面临“中等收入困境”,生产的日用品失去竞争力,但又无法像高科技顶端转移。为了保持增长,土耳其不仅需要自由化改革,还要外资注入。埃尔多安对改革已经极力反对。尽管世界范围内,外资与独裁政权水火不容,但外商们也不会在乎埃尔多安的极权政治导致的经常性社会动荡。The hope that Turkey will one day join the EU has also kept investors interested. This is where Mr Erdogan ought to think of his legacy. Building giant infrastructure projects is all very well, but if he is to underpin Turkeys modernisation he needs to pull it back onto its European course. EU membership is a remote prospect just now, but moving away from Europes liberal democratic norms will make it an impossibility.期待某天土耳其加入欧盟的愿望也让投资者们兴趣大增。这就是埃尔多安应该考虑的他留给土耳其的遗产。大兴土木虽然无过,但如果他想为土耳其的现代化奠基,则应该将土耳其拉回欧洲发展的轨道。欧盟成员国的身份目前为时尚早,但偏离欧洲自由民主的规则会使这以目标更加遥不可及。Gul, not Putin古尔,不是普京The first test of Mr Erdogans intentions will be the choice of prime minister. This week Turkeys outgoing president, Abdullah Gul, threw his hat into the ring (see article). Not only is Mr Gul widely respected, both at home and abroad, but he has also briefly held the job before. Moreover, as a co-founder of the AK party, he has enough political clout of his own to stand up to Mr Erdogan. Mr Erdogan should accept that a strong prime minister would be better for Turkey. If he insists on having a puppet instead, people may start to compare him not to Ataturk but to his Russian counterpart, Vladimir Putin.埃尔多安的意图面临的第一项考验便是总理的人选。本周,土耳其即将卸任的总统——阿卜杜拉?古尔宣布参与竞选。古尔不仅在国内外广受尊崇,而且之前也出任过一段时间的总统。再者,作为AK党的共同创立者,他拥有足够的政治影响力与埃尔多安抗衡。埃尔多安应该接受这一点,即一位强大的总理更适合土耳其。如果他坚持将此视为傀儡,民众将开始把他比作俄罗斯总统弗拉基米尔普京,而非与土耳其国父阿塔图尔克相提并论。 /201409/329469

Finance and economics财经商业Reforming the World Bank世界,亟待重整Zen and the art of poverty reduction禅宗思想及扶贫艺术Calm and confusion at the worlds biggest development institution世界最大发展机构—平静与骚乱并存THE World Bank may need a period of quiet reflection, but this was ridiculous.世界可能需要一段时间来安静的反思,但这在过去是荒谬可笑的。On September 10th 300 bankers joined Thich Nhat Hanh, an 87-year-old Vietnamese monk and founder of the Order of Interbeing, for a day of mindful meditation with Jim Kim, the banks president and an admirer of Mr Hanh.九月十日,300名家以及世界行长吉姆金同现年87岁的越南高僧一行禅师进行了为期一天的静心冥想的活动。一行禅师创立了相即共修团,且吉姆金是他的崇拜者之一。It was all very Zen, one member of staff told the Washington Post.一切都弥漫着佛教气息,其中一位家对华盛顿邮报如是说。Afterwards, Mr Hanh and 20 brown-robed brethren led a walking meditation through Washington—though since the traffic police did not show up, the quiet contemplation was marred by the not-so-Zen honking of angry drivers.在这之后,一行禅师和其他20名身穿棕色长袍的同胞们在华盛顿进行了步行禅修的活动。但由于在行进过程中没有交通警察维持秩序,这场安静的冥想被不那么禅的愤怒司机的喇叭声所打扰。Mr Hanh says he believes in the power of aimlessness and thinks civilisation is threatened by voracious economic growth. Mr Kim does not. He is trying to give the bank a sharper focus.一行禅师说,他深信无目的的力量,认为贪得无厌的经济增长威胁着现代的文明。吉姆先生但不这样认为。他正尝试着给与世界一个更加清晰的重点。In the unlovely words of a new strategy, endorsed by the banks governors on October 12th, the groups value proposition is to end extreme poverty by 2030 and to foster income growth among the poorest 40% in every country, not just poor ones.该组织的新策略价值观主张在十月十二日受到世界管理者的持。该策略的并不讨喜的语言表达了在2030年结束极端贫困并促进每个国家最贫穷的40%的人的收入增长,而不仅仅是穷人们。The aim is to shake up the worlds leading development body.目的在于震撼这个世界上领导性的发展主体。Since it began, the World Bank has run almost 12,000 projects in 172 countries.自从该策略开始施行,世界已经在172个国家运作了12000个项目。But voracious economic growth in the past 25 years has meant that the banks lending has fallen to less than 1% of the combined economic output of the borrowers.但是过去25年突飞猛进的经济增长已经意味着世界的贷款在借款者复合经济产量中所占比率应经下降到不足1%。As more nations graduate to middle-income status and win access to capital markets for big development projects, fewer of them need the money and expertise the bank has to offer.随着越来越多的国家逐渐迈入中等收入行列并获得进入资本市场有大发展项目的机会,越来越少的国家需要世界提供的资金和技术。Having a target for eradicating poverty aims to finesse this.为消除贫困设定目标旨在细化贫困问题。Extreme poverty is a global problem and would justify a global institution devoted to ending it.极端贫困是一个全球问题,而且这个事实明急需一个全球机制以期结束贫困问题。One billion people live on less than 1.25 aday, most of them in what the bank calls middle-income countries such as India and Brazil.目前有十亿人口每天靠不足1.25美元生活,且他们中的大多数都居住在世界所称的总等收入水平的国家中,比如印度和巴西。The bottom 40% includes a further 1.5 billion people.还有15亿人也属于40%的生活在贫困线以下的人群。So carving out a role in poverty eradication would make the bank relevant to middle-income countries even though their governments might not need its money any more and might think the bank has little to offer their growing middle classes.所以要在消除贫困中发挥作用,就意味着要与中等收入国家建立联系。即使这些国家政府可能认为他们不再需要世界的资金,而且觉得对于他们这些正在发展中的中产阶级没有任何帮助。How much difference the new strategy will make from day to day, though, is open to question.但是这个新策略会日渐产生什么样的作用仍然是一个未知数。The bank is aly supposed to be helping the poorest; the new goal marks only a shift in emphasis and, on the face of it, will not stop it doing most of what it is doing now.世界已经将目光着眼于援助最贫困的国家,新的目标只是标志着他们重心的转移,而且从表面来看,该也不会停止大多数现在正在做的事情。The aim of eradicating extreme poverty by 2030 is not overly ambitious.在2030年消除极端贫困的目标也并不过于盲目自信。Recent data suggest the income of the bottom 40% has been growing as fast as, or faster than, the national average in most developing countries for 25 years.最新数据表明,在过去的25年里40%的最贫困人口的收入的增长速度已经达到甚至超过大多数发展中国家的平均国民收入的增长速度。So does the new approach matter?所以新的方法还是那么重要么?The rhetorical change probably does not, but the reorganisation which accompanies it might.夸张惊人的变化似乎不太可能,但是随之而来的重组还是可能会发生的。For years, the World Bank has been organised along geographic lines.这些年来,世界一直根据地域区域来组织机构。The regions control the budgets, hire the staff and dominate the bank.这些区域性的内部机构控制的预算,雇佣员工和管理。They are also responsible for its reputation for being divided into silos: experts from different regions rarely talk to each other.这些机构对他们封闭机构的名声负责,即来自不同地方的专家甚少相互交流。In an attempt to break this pattern, the bank is setting up 14 global practices which will cut across the regions.为了打破这个固定模式,世界建立起14项国际组织来将这些地区打破地域性。The bank has also long been accused of doing too much.世界长久以来也被人们指责其过多的所作所为。It runs a tiger-conservation project, for instance.其经营的一个保护老虎的项目就是一个例子。To provide clearer priorities, the plan proposes a new method for deciding what countries need.为了规定更加清晰明了的先后顺序,该计划提出了一个新方法来决定一些国家需要什么帮助。The idea is to diagnose the worst constraints on poverty reduction and focus mainly on those.这个方法旨在找出减少贫困的最大绊脚石并几种主要精力来解决这些问题。When the bank ran a pilot country diagnostic for India, it found it needed to concentrate more of its efforts in the six poorest states.当该行在印度首次进行乡村诊断法时,其发现他们需要将他们的精力更多地集中于六个最贫困的邦郡。The bank has a history, however, of grandiose reorganisations.但是世界的大规模改组已经由来已久。One comes along every decade.每十年就会发生一次。They rarely achieve much.但他们总是收效甚微。There are several reasons why this shake-up might be no different.此次改组可能并无多大变化,这有各方面的原因。Diagnosing constraints sounds like an excellent idea.找出约束改组的限制条件听起来是一个绝妙的主意。But it turns out that no sooner have you identified one supposedly crucial obstacle than another appears behind it.但是事实明问题层出不穷,你刚发现一个潜在的重大困难,另一个问题又开始浮现。The model might not always give the clear guidance that it did for India.这个模范实验在印度所起的作用可能无法给其他地方一目了然的指导。Neither is it certain whether the global practices are intended to be more important than the regional units, or whether the two are supposed to be evenly balanced, and if so, how.国际实践是否将会比区域行的团体更重要,或者二者被猜测可以平分秋色以及假如这一事实成立,各自应该怎样发挥作用,这两个问题到现在都无法确定。Setting up global practices also risks turning the bank into a glorified McKinsey in which experts jet in to advise on a big project and jet out—a tendency for which development agencies are aly rightly criticised.建立一个全球性实践行动意味着将冒着把转变成一个光辉闪耀的麦肯锡公司。该公司内的专家总是对于大型项目妄下论断然后又突然抽离开来。这个趋势已经使得许多发展机构备受争议。Then there are doubts about Mr Kim himself.于是这使得吉姆先生本人也受到人们怀疑。He has had a wobbly start since being foisted on the bank by the American government last year.他上任时面临着不利的工作局面,因为其去年被美国政府安插在世界。After winning over many at first, he found himself under attack this summer when senior people began leaving in a huff, or were fired, as the reorganisation took shape.在开始收获诸多人心之后,这个夏天随着重组逐渐成型,该行许多元老开始愤怒的辞职或解雇,他发现自己正处在风口浪尖处。The grumbling has since died down, but confidence among employees looks shaky.人们的怨声载道有所平息,但是雇员们的信心看起来不容乐观。And what if the plan succeeds?但是如果这项计划大获全胜呢?Then the institution would face a different problem.那么这个机构就会面临着一个不同的问题。If it is all about reducing poverty and extreme poverty is eradicated by 2030, what role would be left to it then?如果这全部都是为了减少贫困而且在2030年极端贫困将不复存在,那么世界还会有什么样的作用呢?No doubt it will think of something.毫无疑问它会好好考虑一下了。 /201312/271076

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