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All about finances


Economic – экономический, хозяйственный
Cluster of rise – пучок подъема
Stakeholder – участник совместного дела, пайщик
Macroeconomic – макроэкономический
Imbalance – отсутствие или нарушение равновесия, дефицит баланса
Nexus – связь, узы
Volatility – изменчивость, непостоянство (напр. в характере потребительского спроса)
Fiscal – фискальный, денежный, финансовый
Asset – имущество, фонды, активы
Unfunded liability – краткосрочная задолженность
Indebtedness – задолженность, сумма долга

To create – порождать, производить, создавать
To dwarf – останавливать рост, препятствовать развитию
To raise – поднимать (производство, цены и т.п.), повышать
To reduce – понижать, сокращать, уменьшать
To offset – возмещать, вознаграждать, компенсировать
To conceptualize – осмыслять, концептуализировать, составлять концепцию
To regulate – регулировать, регламентировать, упорядочивать
To converge – сходиться (о линиях, дорогах), встречаться
To hedge – ограждать, страховать себя от возможных потерь

1. To create – to make something new or original that did not exist before.
2. Stakeholder – a person or company that has invested in a business and owns part of it.
3. To reduce – to make something smaller or less in size, amount, importance etc.
4. Indebtedness – grateful to someone for their help.
5. To converge – to come from different directions to reach the same point.
6. Our updated macroeconomic forecast – stronger ruble and higher rates.
7. Fewer conflicts, expanding trade, and growing investments are helping reduce poverty and raise living standards.
8. For profitable firms, the growth will be defined in terms of earnings but for money-losing firms, you have to consider the nexus of revenue growth and higher margins.
9. Overall, such regulated wholesale competition is most appropriate in those countries that still want to regulate their district heating sectors, including retail tariffs.
10. But there is a deeper problem that has been overlooked: the US economy relies upon asset price inflation and rising indebtedness to fuel growth.

Global Risks 2011 - The macroeconomic imbalances nexus

The World Economic Forum's report "Global Risks 2011" finds that three clusters of risks are particularly important for stakeholders to understand and respond to in the coming decade. The first cluster is the macroeconomic imbalances nexus . At its core, this nexus consists of three risks: global imbalances and currency volatility, fiscal crises, and asset price collapse. The interaction between these risks creates both short term and long term challenges for the global financial system. For advanced economies, fiscal imbalances and unfunded liabilities create the real risk of severe fiscal crises. Unfunded liabilities related to aging populations will, in the absence of adjustments, dwarf the impact of the recent financial crisis in increasing indebtedness. For emerging economies, this fiscal uncertainty combined with slow growth implies increase in gross capital flows to emerging economies, fueling asset bubbles as equity markets leak into real estate prices. Such a bubble could lead to asset price collapse and severe damage to both emerging markets and the global economy. Responding to these risks is not straightforward. Surplus and debts in governments face different incentives in managing global imbalances. Political leaders around the world are under pressure to seek short term solutions and will find it difficult to cut entitlements or raise taxes to fund long term liabilities. However, three levers exist to address this risk. Strengthening global coordination around meaningful growth policies would help countries reduce imbalances by both price and income adjustments. Stronger financial systems would offset the risk of unforeseen asset price bubbles. Higher awareness around the challenges of unfunded liabilities link to aging societies could help countries shift to sustainable fiscal models. You can download "Global Risks 2011," explore the underlying survey data, and see the forum's other works in the area of risk response on our website.

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Be motivated: True friend (military story)

Horror gripped the heart of the World War I soldier as he saw his lifelong friend fall in battle. Caught in a trench with continuous gunfire whizzing over his head, the soldier asked his lieutenant if he might go out into the "no man’s land" between the trenches to bring his fallen comrade back.
"You can go," said the lieutenant, "but i don’t think it will be worth it. Your friend is probably dead and you may throw your life away." The lieutenant’s advice didn’t matter, and the soldier went anyway. Miraculously he managed to reach his friend, hoist him onto his shoulder and bring him back to their company’s trench. As the two of them tumbled in together to the bottom of the trench, the officer checked the wounded soldier, and then looked kindly at his friend.
"I told you it wouldn’t be worth it," he said. "Your friend is dead and you are mortally wounded."
"It was worth it, though, sir," said the soldier.
"What do you mean, worth it?" responded the Lieutenant. "Your friend is dead."
"Yes, Sir" the private answered. "But it was worth it because when I got to him, he was still alive and I had the satisfaction of hearing him saying, "Jim…, I knew you’d come."
Many times in life, whether a thing is worth doing or not, really depends on how you look at it. Take up all your courage and do something your heart tells you to do so that you may not regret not doing it later in your life. May each and every one of you be blessed with the company of TRUE FRIENDS. A true friend is one who walks in, when the rest of the world walks out. War doesn't determine who's right. War only determines who's left.

List of questions for discussion

1. What does the area of finance cover?
2. What personal finance decisions have you had to make recently?
3. What are the biggest personal finance decisions you’ll have to make?
4. What kinds of decisions do executives have to make regarding finance?
5. Would you like to work in finance?
6. What did your parents tell you about finance?
7. Do you have a head for finance?
8. Do you spend too much time and energy sorting out your finances?
9. Do people who always talk about money and finance bore you?
10. Are you worried about your financial security in your old age?
11. Are you good at saving and sticking to budgets?
12. Do you have any interest in talking to a personal financial advisor?
13. Have you ever risked money in financial markets?
14. Does the finance minister/secretary in your country do a good job?
15. Is it better to keep your money under your bed?

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