Learn the English vocabulary you need to read, write and speak about the economy in English! These business English podcast lessons teach you English vocabulary for finance, business, banking, and economics by showing how these words and expressions are used in context. The podcast host, Alan Robert, has been teaching English to economists for more than 20 years. Join him for these weekly English lessons that cover a wide range of topics.
Chinese Real Estate Developer 'Evergrande Group' in a Liquidity Crisis
Real Estate: Houses or buildings
Liability: In this story, liability is debt.
Onshore and Offshore: Inside a country and outside of the country
Liquidity Crisis: A lack of cash or liquid assets
Contagion: The spreading of something negative, like fear, or an illness.
Demolish: To knockdown, or tear down, a building.
Surge: a sudden powerful forward or upward movement
Variant: a version of something that differs from a standard.
Disrupt: to interrupt / to cause a disturbance or problem.
Flight crews: the workers responsible for the operation of an aircraft during flight.
Contagious: able to be passed from one individual to another through contact
Staff shortage: not enough workers to do the job properly
Complacent: to lose the feeling that there is a risk
China's Belt and Road Initiative
In this week’s episode, English for Economists looks at the Belt and Road Initiative, the massive global infrastructure development program being promoted and funded by China.
But first, our vocabulary:
Infrastructure: Infrastructure is the physical and organizational structures and facilities, for example, buildings, airports, roads, the electrical system, ports.
Linkage: The connection or interconnection between two or more parties. In this case, it is the connection, or the relationship, between countries.
Soft power: the use of economic or cultural pressure as a method of influence.
Debt burden: the obligation to pay back borrowed money. You take a loan? Well, you have acquired a certain debt burden. It is a weight. An obligation.
Debt trap diplomacy: When the creditor country is said to extend excessive credit to a debtor country with the goal of getting economic or political concessions when the debtor country is unable to pay the money back.
Creditor trap: When the lender is unable to collect on loans and is faced with taking a loss.
Contractor: Contractors are professionals or companies who provide skills or services for a limited time. In other words, people, or companies, that are contracted to do something.
The Commercial Fishing Industry
Today's podcast takes a look at some vocabulary you can use to talk about the commercial fishing industry.
Fishery: the enterprise of raising or harvesting fish.
Wild fishery: a natural body of water with a fish or other aquatic animal population that can be harvested for its commercial value.
Freshwater fishery: Fishery in ponds, reservoirs, lakes, rivers, and other inland waterways. The opposite of freshwater is salty water, by the way.
Ocean fisheries: Fishery in the oceans, in saltwater.
Aquaculture: Basically, it is farming in water. Aquaculture is breeding, raising, and harvesting fish, shellfish, and aquatic plants. Related words are are fish farming and pisciculture.
Fishing season: The legally established time period when fishing is allowed.
Fishing quota: An assigned share of a fish catch by weight to an individual or enterprise. Authorities try to prevent overfishing by establishing fishing quotas.
Bycatch: is a fish or other marine species that is caught unintentionally while fishing for specific species.
Factory ship: ship accompanying a group of fishing vessels known as a fishing fleet, with facilities to process the catch.
Fish meal: ground dried fish used as fertilizer or animal feed.
Overfishing: the practice of catching fish faster than they can reproduce.
Moratorium on fishing: This is a ban on fishing, or in other words, a temporary or permanent stop to fishing.
Returning to work and the hybrid workplace
In today’s podcast, we are going to look at what has become a reality for many of you: hybrid work. And by hybrid work, I mean when you some of your job at your traditional place of work, and some of it at home… or at some other place. Human resource departments and management have a lot of thinking and planning to do so their workers can be productive.
Workforce: People who are engaged in, or ready to work. The workers.
Workplace: The place where people work, like an office, school, or factory.
Remote work: Remote work (also known as work from home or telecommuting, is a type of flexible working arrangement that allows an employee to work from home, or some other location.
Hybrid working: Hybrid working is a type of flexible working where an employee splits their time between the workplace and working remotely
Pilot program: A pilot program, also called a trial, is a small-scale, short-term experiment that helps an organization learn how a project might work.
Employee wellbeing: The happiness, comfort and health of employees. Also called “welfare”.
Employee morale: The confidence, enthusiasm and happiness of employees.
Personnel: people employed in an organization
Microfinance: Small loans backed by trust
Today, our topic is microfinance.
Here is the Vocabulary: It is a much longer list today. Listen closely, and listen to this section a few times if you need to!
Microfinance: this refers to the financial services provided to low-income individuals or groups who are typically excluded from traditional banking.
Working capital: money that the entrepreneur can use for day-to-day operations, or purchase transport or equipment.
Microcredit: A part of the field of microfinance, microcredit is the provision of credit services to low-income entrepreneurs. Another way to say microcredit is microloan.
Collateral: Something offered as security for the repayment of the loan.
Unbanked: A term used to describe the world’s working poor who are outside of the formal banking sector.
Microentrepreneur: Micro entrepreneurs are people who own small-scale businesses that are known as microenterprises.
Financial Inclusion: Financial inclusion happens when people have access to a range of banking products at affordable prices.
Group Lending: Group Lending happens when a group of people make a collective repayment promise.
Sponsors: An individual who supports a borrower.
I also want to remind you of a word you learned on last weeks podcast “Pledge”. Remember? To pledge means “to promise”.