VIP Class Notes (Mike)

Vocabulary

property giant 房地产巨头
tech giant 科技巨头

collapse (v) 崩溃

crisis (n)
In 2008, there was a worldwide financial crisis.

indebted (adj.)

memorize (v)
He just told my son to ~ words

I like teachers who can teach and play at the same time.

developing countries 发展中国家

blow (n) 打击

decline (n) 衰减
declare (v) 宣称，公布

in default 违约

crucial = very important

trigger (v) 触发

current = now

currency = 货币

real estate = housing

surveillance (n) 监视

former: from the past
formal

detain (v) 收押，拘留

encompass

estimate (v) 估计
The company’s market value is estimated at around …

amount = quantity = number

file bankruptcy

bid (n) 投标

multi-billion 数十亿

creditor (n) 贷方

home-buyer (n)

Their cash flow is disrupted.

incurring major losses (v) 蒙受，遭受

unnerve (v) 使…失去信心

forced liquidation 被迫清算/结算

economic stagnation 经济停滞

spiral (v) 螺旋，上升，盘旋
spiral (adj.) 螺旋的

radically diminished 极度缩小的

intensive reading 精读

Pronunciation

economist (n)
economy (n) 经济体，经济

economics (n) 经济学
economic (adj.) 经济的
economical (adj.) 节约的，节省的

EG stands for China’s GPD.

The property sector/industry accounts for a huge percentage of China’s GDP, around 25-30%.

They work for their entire life just to buy an apartment in a city.

so if EG collapses, two things will happen.
first, the home-buyers will not have a place to live.
second, the investors will lose confidence in the market.

Grammar

as = because = since

too big to fail: 大而不倒

I am too tired to teach tomorrow.
My friend is too sick to drive.

The food is too delicious to resist.

It marks another blow to the troubled firm, which in 2021 was declared to be in default after missing a crucial repayment deadline, triggering China’s current real estate market crisis.

Last September, its chairman was placed under police surveillance following earlier reports that other current and former executives at Chinese property giant Evergrande had also been detained.