Questões de Vestibular
Sobre vocabulário | vocabulary em inglês
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Patience is needed for Brazil to come good again
Michael Hasenstab
Dr. Michael Hasenstab is executive
vice-president, portfolio manager
and chief investment officer of
Templeton Global Macro
The Olympic Games in Rio drew global interest to Brazil, but the country and the rest of South America has been in sharp focus for investors all year. They have flocked to the region as part of a broader migration into emerging market debt, following record low valuations and the hunt for yield in a low interest rate environment. While investors have been presented with a rarely seen buying opportunity in emerging markets like South America, it is a mistake to regard these countries as a homogenous group.
That leaves the challenge of working out which are the most attractive opportunities – some of our best known investments were not obvious choices.
We have devised a formula to help us evaluate the fundamental strength of different emerging market countries. It scores a country’s current and projected strength on five factors: how well it has learnt the lessons from past crises; the quality of its policy mix; the structural reform being undertaken to boost productivity; the level of domestic demand; and its ability to resist external shocks. The aim is to pick nations that are fundamentally strong but, for one reason or another, are out of favour with investors. It can take time for the market to catch up to reality. But if you are a long-term investor – and we are certainly in that camp – you have the luxury of being able to wait.
Brazil, for example, is known as a vulnerable market due to the commodities downturn, the ongoing corruption crisis and ensuing political turmoil, but our work suggests to us that it is poised for a potentially significant rebound in the long term. Its current score is low, but its projected future score tells a different story.
We believe the country has learnt the lessons from the most recent crisis, which brought home the importance of having a sustainable fiscal policy. It has already adopted a flexible exchange rate, has strong foreign exchange reserves and has limited short-term debt. This is also reflected in the country’s improving resilience to external shocks, with a reliance on commodities, at 60 per cent of exports, being the largest remaining negative.
It is perhaps no surprise, given Brazil’s deep recession and political instability, that there is much work required in terms of improving policy mix, making structural reforms and boosting domestic demand. However, there are signs things are being turned around, with monetary policy already being tightened aggressively to bring inflation expectations back under control, and the previously excessive levels of governmentsubsidised lending being cut. Once political stability returns, the government will be empowered to do even more.
Work on structural reform should accelerate too, as Brazil’s middle class has made it clear it wants greater transparency and an economic policy framework that can both boost living standards and improve the environment for businesses.
(www.ft.com. 01.09.2016. Adaptado)
Leia o texto para responder a questão.
Patience is needed for Brazil to come good again
Michael Hasenstab
Dr. Michael Hasenstab is executive
vice-president, portfolio manager
and chief investment officer of
Templeton Global Macro
The Olympic Games in Rio drew global interest to Brazil, but the country and the rest of South America has been in sharp focus for investors all year. They have flocked to the region as part of a broader migration into emerging market debt, following record low valuations and the hunt for yield in a low interest rate environment. While investors have been presented with a rarely seen buying opportunity in emerging markets like South America, it is a mistake to regard these countries as a homogenous group.
That leaves the challenge of working out which are the most attractive opportunities – some of our best known investments were not obvious choices.
We have devised a formula to help us evaluate the fundamental strength of different emerging market countries. It scores a country’s current and projected strength on five factors: how well it has learnt the lessons from past crises; the quality of its policy mix; the structural reform being undertaken to boost productivity; the level of domestic demand; and its ability to resist external shocks. The aim is to pick nations that are fundamentally strong but, for one reason or another, are out of favour with investors. It can take time for the market to catch up to reality. But if you are a long-term investor – and we are certainly in that camp – you have the luxury of being able to wait.
Brazil, for example, is known as a vulnerable market due to the commodities downturn, the ongoing corruption crisis and ensuing political turmoil, but our work suggests to us that it is poised for a potentially significant rebound in the long term. Its current score is low, but its projected future score tells a different story.
We believe the country has learnt the lessons from the most recent crisis, which brought home the importance of having a sustainable fiscal policy. It has already adopted a flexible exchange rate, has strong foreign exchange reserves and has limited short-term debt. This is also reflected in the country’s improving resilience to external shocks, with a reliance on commodities, at 60 per cent of exports, being the largest remaining negative.
It is perhaps no surprise, given Brazil’s deep recession and political instability, that there is much work required in terms of improving policy mix, making structural reforms and boosting domestic demand. However, there are signs things are being turned around, with monetary policy already being tightened aggressively to bring inflation expectations back under control, and the previously excessive levels of governmentsubsidised lending being cut. Once political stability returns, the government will be empowered to do even more.
Work on structural reform should accelerate too, as Brazil’s middle class has made it clear it wants greater transparency and an economic policy framework that can both boost living standards and improve the environment for businesses.
(www.ft.com. 01.09.2016. Adaptado)
Published in 1981, Todd Strasser’s The Wave recounts a true incident that took place in a history class at a Palo Alto, California, high school in 1969. The teacher of the class, Ron Jones, (1)__________ is fictionally renamed Ben Ross in the book, actually formulated the experiment described in the narrative in an effort to help his students understand how the Holocaust could have happened without the mass condemnation of the German people. What begins as a simple class project quickly takes on a life of its own, (2) __________, as students conform mindlessly to the experimental system, and others are pressured ruthlessly to join in. Group dynamics and peer influence bordering on coercion create a sinister atmosphere of fear and mistrust, The Wave spontaneously takes on the characteristics of a cult. The event disrupts an entire school (3) __________ raises a plethora of dark questions concerning responsibility, freedom, and group dynamics. Ron Jones calls it “one of the most frightening events ever experienced in the classroom.” As a novelization of a teleplay by Johnny Dawkins, based on a short story by Ron Jones, Strasser’s book (4) __________ not have attracted an abundance of criticism as a literary entity in itself, (5) __________ The Wave clearly holds an important place in the canon of young adult literature. (…) Available at: <http://www.enotes.com/topics/the-wave/critical-essays>. Accessed on: 20 set. 2016
Choose the CORRECT alternative..
I - A frase “John demurs.” (l. 04), significa, “John discorda.”, visto que ele tem atitude contrária a do narrador sobre a manutenção de motocicletas.
II - A forma nominal “building” na frase “The building stops” (l. 11) refere-se à conversa que se desenrola na frase “the conversation just naturally builds pleasantly” (l. 10) e que é interrompida.
III - As palavras “surface” (l. 17) e “underneath” (l. 17) têm sentidos opostos, sendo seus significados, respectivamente, “superfície” e “sob a superfície”.
Assinale a alternativa correta.
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REDUCING CONSUMPTION
Reducing your consumption also reduces how much you contribute to the environmental problems of global warming and waste disposal. It also helps you save money:
- • Switch off electrical appliances when not used.
- • Reuse plastic bags.
- • Recycle newspapers, magazines, bottles and cans.
- • Walk, cycle or share transport instead of driving your car.
- • Buy second-hand goods or clothes.
What other ways are there to consume less and save money?
For more information visit:
Recycle Now www.recyclenow.com
Greenpeace www.greenpeace.org.uk
Energy Saving Trust www.energysavingtrust.org.uk
Environment Agency www.environment-agency.gov.uk
http://www.moneymakesense.co.uk/ethical_text.htm
Texto I
TRUMP-KIM SUMMIT: DONALD TRUMP VOWS TO 'END WAR GAMES' IN 'NEW HISTORY' WITH NORTH KOREA
By Ben Riley-Smith, US editor, in Singapore 13 JUNE 2018 • 8:10AM – The Telegraph
The US president said in a press conference after the Singapore summit: "It is a very great day, it is a very great moment, in the history of the world." He predicted Kim would start denuclearise "very quickly" and revealed that the North Korean leader had already agreed to destroy a missile engine testing site.
The climax of Mr Trump‘s meeting with Kim — the first between a sitting North Korean and American leader — was the signing of a joint agreement. The 400-word statement followed more than four hours of talks, first between the leaders one-on-one and then with a wider group of advisers.
It read: "President Trump and Chairman Kim Jong-un conducted a comprehensive, in-depth, and sincere exchange of opinions on the issues related to the establishment of new United States - North Korea relations and the building of a lasting and robust peace regime on the Korean Peninsula.
The statement went on to list four specific pledges that both Mr Trump and Kim agreed to stand by: The first was that both countries would establish "new relations" in the pursuit of "peace and prosperity" — an attempt to draw a line under the insults and threats of last year. The second said that America and North Korea would "join their efforts to build a lasting and stable peace regime on the Korean Peninsula". The third said that Kim‘s regime ―commits to work toward complete denuclearisation of the Korean Peninsula‖ — a key demand from the Americans. And the fourth promised that the remains of fallen US soldiers who died fighting in the Korean War would be repatriated to the United States.
Mr Trump said he "absolutely" would invite Kim to the White House and expressed enthusiasm for visiting North Korea, but said no dates had been set. Mr Trump also praised the leaders of Japan, South Korea and China as well as Kim himself for the progress made on the issue of denuclearisation.
Source: < https://goo.gl/dEim38> Date of retrieval: June 13th, 2018.
TEXTO I
HOW TO TRICK YOUR BRAIN INTO HEALTHY EATING
Charles Spence and Jozef Youssef
TEXTO:
Multitasking harmful to productivity
TEXTO:
Multitasking harmful to productivity