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自分が読んで興味深く感じた英文記事を中心に取り上げる予定です

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日本についての社説

 
WSJの社説がアベノミクスを取り上げていました。まあ、別に読まなくてもさらなる「構造改革」を進めることを提言していることは想像できますが、どのように表現しているか確認してみます。WSJは日本語版を立ち上げていることですし、英語教育にも力を入れたら企業側のニーズにも応えることになると思うんですが。。。

Making Abenomics Work for Japan
Wages won't rise until reforms boost productivity.
May 8, 2014 2:45 p.m. ET

Prime Minister Shinzo Abe's economic revival plan for Japan is entering a new phase, and all eyes are on the labor market. After a year of unprecedented monetary expansion, there are signs that growth, inflation and corporate profits are ticking up. Now the question is whether wages and consumption will follow. This is where Mr. Abe risks meeting his Waterloo if he doesn't pick up the pace of reform.

Mr. Abe has repeatedly highlighted the importance of wage increases, practically begging employers to boost pay. The theory is that exporters are booking higher profits thanks to his weak-yen policy, and they should boost compensation so their employees can spend more domestically and spark a virtuous growth cycle.

英語表現This is where Mr. Abe risks meeting his Waterloo if he doesn't pick up the pace of reform.を確認してみます。動詞riskのrisk doingの形です。基本語を柔軟に使えるようにするのは大事ですね。

(主語)Mr. Abe
(動詞)risks
(doing)meeting his Waterloo

Waterlooを字面だけみると何を指しているの想像できないかもしれませんが、動画をみると「あれね!」となると思います。



下記28秒当たりにフランス語の発音を聞けますが「ワータール」って感じですね。



こちらの地元の自治体が作成したものは「ワーテルロー」となっています。



「ワーテルローの戦い」が含意するものは「(異例な成功の後の)大敗北, 惨敗」だそうです。ロングマンとマクミランには「これまでうまくいっていたものが失敗する」とあります。

(ロングマン)
Waterloo
1, the Battle of Waterloo
an important battle fought in 1815 near Brussels, Belgium, in which the Duke of Wellington, leading the British and the Prussians, defeated Napoleon and the French. It was Napoleon's final defeat, and he never regained power after this.
2 one of the main railway stations in London, just south of the River Thames. Trains from Waterloo go to the south and southwest of England.
3 meet your Waterloo
to be finally defeated after a long period of success:
• Despite widespread unpopularity, the party did not meet its Waterloo until the election of 1997.

(マクミラン)
meet your Waterloo
to fail at something that you have always been successful at until now

ここでWaterlooが使われているということは著者はAbenomicsがこれまで成功を収めていると認識しているのでしょう。下記の記事の冒頭に書いています。Abenomicsでこれまでうまくいったものは「三本の矢」の最初の2本でthe first two arrows in his quiver – massive monetary easing and targeted fiscal support – have succeeded in quickening economic growth and setting prices on an upward trajectoryにあたるのでしょう。

February 25, 2014, 3:55 AM ET
For Abenomics, ‘Third Arrow’ is the Hardest–and Most Needed
ByMichael S. Arnold

Prime Minister Shinzo Abe swept into power in Japan wielding the “three arrows” of his program to revitalize Japan’s economy. Through his first 14 months in office, the first two arrows in his quiver – massive monetary easing and targeted fiscal support – have succeeded in quickening economic growth and setting prices on an upward trajectory that’s encouraging Japanese to spend rather than save.

But the crucial “third arrow” of Abenomics – structural reforms that will position Japan’s economy to compete in the 21st century, even as its population shrinks and ages – has been half-hearted at best.

WSJの社説では賃上げがうまく進まない要因を「社員の生産性の低さ」に求めています。正社員を解雇しにくい硬直的な日本の労働市場を問題視しているのです。次の2つのパラグラフの関係は、主張と主張をサポートする具体的なデータというセオリー通りです。

The reason this isn't happening gets to the core of Abenomics: productivity. Many Japanese are employed unproductively, either in dead-end, make-work jobs or in jobs for which their skills are poorly suited. Rigid labor laws and social mores make it almost impossible for a Japanese company to fire employees. This creates a huge pool of surplus labor within companies, and low average worker productivity makes it difficult for employers to afford pay increases.

The nearby chart illustrates how big the pool of hidden surplus labor may be. Junko Nishioka of RBS estimates the number of workers that would be required to generate the production measured in the economy, and then compares that to the actual number of workers. While the manufacturing industry now has the right number of employees for its level of production, the economy as a whole remains overstaffed by about 5%.

労働市場を解放しないと"in-house unemployed"(社内失業)のため設備投資に回せないと心配しています。さらに次のパラグラフではMr. Abe also needs to pick up the pace on his other policy reforms, the so-called third arrow that hasn't materializedと「第三の矢」である構造改革も進めるよう主張しています。

Mr. Abe has resisted any suggestion that Tokyo liberalize hiring and firing. Yet until companies are able to trim their labor forces to the right size, it's hard to see how they'll be able to invest in the productivity gains needed to boost pay for the workers who remain. Each yen paid to the "in-house unemployed" is a yen a company can't devote to capital investment.

Mr. Abe also needs to pick up the pace on his other policy reforms, the so-called third arrow that hasn't materialized. Japan's productivity gap explains why monetary expansion alone will not lead to the wage boost Mr. Abe had hoped for. Instead, he needs to encourage greater competition to stimulate productivity gains. Opening Japan's sheltered economy to foreign competition, whether through the Trans-Pacific Partnership trade deal or unilaterally, would be a good start.

これ以外にも「春闘」をspring wage negotiationsと表現していたりして、いろいろと表現の勉強になります。
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Yuta

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