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English Questions – Cloze Test 213

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Weak demand is dragging down China’s economic growth. The real problem isn’t a shortage of money: the broad money supply (M2) now exceeds CN¥155 trillion ($25 trillion), or 200% of GDP, and continues to grow by 12-13% annually. Rather, the current slowdown reflects financial (1) on the real economy – a problem that will be difficult to (2) in the near future.Ironically, these financial constraints have tightened against a background of strong financial-sector growth. Indeed, it is the financial sector’s (3) , driven partly by the success of market-oriented innovations, that has fueled growth in China’s M2 and credit assets.
This trend can be traced back at least to 2004, when a fast-growing trade surplus and (4) capital inflows, as well as (5) exchange-rate appreciation, forced the People’s Bank of China (PBOC) to resort to monetary expansion as a (6) against the resultant risks. Since then, China’s unremitting investment in infrastructure and real estate has fueled domestic demand, absorbing and (7) this credit growth. In 2009, China took things a step further, with a massive three-year (8) plan that expanded bank credit to more than CN¥20 trillion.
As the money supply and financial sector expanded, so did the shadow banking system, which operates beyond the reach of risk-mitigating regulation. According to data from Moody’s Investors Service, by the end of last year, credit from China’s shadow banking system had nearly tripled relative to 2011, to CN¥65 trillion. Since 2006, (9) banks’ share of total credit (10) from 10% to 33%.

  1. 1) depletion
    2) abjection
    3) constraints
    4) assailment
    5) diverse
    Answer – 3) 
    Explanation: constraints – a limitation or restriction.

  2. 1) aridity
    2) different
    3) assault
    4) reverse
    5) encroachment
    Answer – 4)
    Explanation: reverse – move backwards. 

  3. 1) blitzkrieg
    2) prosperity
    3) dissimilar
    4) paucity
    5) pauperism
    Answer – 2)
    Explanation: prosperity – the state of being prosperous.

  4. 1) massive
    2) offensive
    3) onslaught
    4) unequal
    5) indigence
    Answer – 1)
    Explanation: massive – large and heavy or solid. 

  5. 1) starvation
    2) straits
    3) distinct
    4) injury
    5) relentless
    Answer – 5)
    Explanation: relentless – unceasingly intense. 

  6. 1) hedge
    2) invasion
    3) scarcity
    4) barrenness
    5) beard

    Answer – 1)

    Explanation: hedge – a fence or boundary formed by closely growing bushes or shrubs. 


  7. 1) beggary
    2) reinforcing
    3) blitz
    4) privation
    5) affront
    Answer – 2) 
    Explanation: reinforcing – strengthen or support (an object or substance), especially with additional material. 

  8. 1) penury
    2) stimulus
    3) exiguity
    4) repel
    5) hindrance
    Answer – 2) 
    Explanation: stimulus – a thing or event that evokes a specific functional reaction in an organ or tissue. 

  9. 1) tranquilizer
    2) brightness
    3) meagerness
    4) shadow
    5) inadequacy
    Answer – 4)
    Explanation: shadow  – a dark area or shape produced by a body coming between rays of light and a surface. 

  10. 1) soared
    2) driblet
    3) particle
    4) teardrop
    5) smidgen
    Answer – 1)
    Explanation: soared – fly or rise high in the air.