采用了适当的衔接手法,层次清晰;作者高级词汇使用比较准确,文中有较多拼写错误;可适当增加几条从句。
Our main findings along with their policy implications are summarised below. The recent global crisis is perceived to hinge on worsening global imbalances, which in turn were engendered by large saving differences between deficit and surplus economies. The saving rate is related to income inequality negatively in deficit economies with overdeveloped capital markets able to finance substantial credit consumption. On the contrary, saving is linked to inequality positively in surplus economies with weak financial systems providing limited or no consumer credit. While income inequality has the same root causes in both types of economies where workers’ bargaining power for income sharing is weaker than investors’, this problem has met with different policy responses. Consumer credit was expanded in deficit countries to prevent workers’ living standards from falling, while consumption relative to GDP was left declining in surplus countries due to credit constraints facing workers. Differing consequences have emerged from those different policies. In the deficit countries, aggressive financial liberalisation, though succeeding in keeping workers’ living standards from dropping, has transformed higher income inequality into higher domestic indebtedness and eventually larger external deficits. While aggregate demand was stimulated artificially, real aggregate supply has been held back by a slower accumulation of producible capital as investors prefer portfolio over direct investment. All those problems, once perceived to be unsustainable, jointly became a trigger for the crisis. In the surplus countries