Venezuela's economy
35. A funny way to beat inflation (Jun 19th 2008, CARACAS)
From The Economist print edition

-Hugo Chavez invites the private sector to help him build socialism.

35-1-151
TO BUILD his promised socialist revolution, Hugo Chavez seems to have concluded that he needs the help of capitalist businessmen. Earlier this month he invited a handpicked group of captains of finance and industry to the presidential palace. He lectured them about the imminent demise of capitalism, but then proceeded to offer them cheap credit and joint ventures to 'reactivate' production.
That such efforts are needed is at first sight odd. Although it sells at a discount because much of it is heavy and sulphurous, the price of a barrel of Venezuelan oil recently topped $120. This year, Mr Chavez says, oil will contribute $75 billion to government revenues, up from $43.5 billion last year and only around $7 billion when he came to power in 1999.
Nevertheless, the economy slowed sharply in the first quarter of this year. That came as a surprise to the planning ministry, which had forecast growth of 6.7%. To make matters worse, the government's inflation forecast of 12% for this year has proved even more wildly optimistic. This is particularly bad news for the poor, Mr Chavez's main constituency. The price of food is rising faster than the overall index. According to the Centre for Documentation and Analysis (CENDA), a group linked to the trade unions, the cost of feeding a family of five rose by 2.4% in May and stands some 60% higher than the minimum wage, even though this was recently increased. For the first time in the past three years, the living standards of ordinary Venezuelans are declining.

A. 어휘
private sector 민간부문. handpicked 주의해서 고른, 精選(정선)한.
captain 대실업가, 거물. finance 재정, 금융. the presidential palace 대통령궁.
lecture 강연하다. imminent 臨迫(임박)한. demise 死去(사거). credit 貸付(대부).
joint venture 합작기업. reactivate 부활하다. at first sight 처음 볼 때. odd 이상한.
heavy 중질유의. sulphurous 유황의. top ...에 이르다. contribute 寄與(기여)하다.
revenue 稅入(세입), 총수입. come to power 執權(집권)하다.
the first quarter 1/4 분기. the planning ministry [경제]기획부.
forecast 예상하다, 예상. to make matters worse 雪上加霜(설상가상)으로.
inflation forecast 인플레이션 예상. wildly 터무니없이. optimistic 樂觀的(낙관적)인.
constituency 支持者(지지자)층, 투표자. index 指標(지표). documentation 考證(고증), 정보관리.
analysis 분석. trade union 노동조합. feed-fed-fed 먹이다.
the minimum wage 최저임금. decline 쇠퇴하다, 내려가다.

B. 구문
- Hugo Chavez seems to have concluded→It seems that Hugo Chavez has concluded
[휴고 차베즈는 ...라고 결론을 내렸던 것처럼 보인다.]
cf. 완료부정사→ 본 동사 보다 한 시제 앞선다.
It seems that he is a teacher.
→He seems to be a teacher. (단순부정사)
It seems that he was (has been) a teacher.
→He seems to have been a teacher. (완료부정사)

35-2-152
After losing a referendum on constitutional change last December--Mr Chavez's first electoral defeat--the government has made efforts to tackle the sources of popular discontent, including food shortages. It has used its oil wealth to import more food. But as fast as one gap is plugged another appears. CENDA reports that staples such as black beans, rice, maize flour and meat were missing from the shelves of many shops in May. Butchers have staged protests, complaining that price controls oblige them to sell some cuts below cost. The government's consumer watchdog accuses them of hoarding and speculation, complaining that they are selling under the counter to restaurants at a higher price.
Officials rightly point out that the shortages arise partly because Venezuelans are consuming more. But they also reflect big economic imbalances. The government has channelled much of its oil wealth into handouts and subsidies, while its socialist policies have provided little incentive to increase production. Private investment has all but dried up. Businessmen have been scared by Mr Chavez's recent nationalisations of the cement and iron and steel industries, and some dairy companies. Most industries are producing “at the limit” of their capacity, admits Andres Izarra, the information minister.

A. 어휘
referendum 국민투표. constitutional 憲法(헌법)의. electoral defeat 선거패배.
tackle 대결하다. popular discontent 대중의 불만. food shortage 식량부족.
import 수입하다. gap 갈라진 틈, 구멍. plug ...을 틀어막다, ...에 마개를 하다.
staple 주요식품. bean 콩. maize 옥수수. flour 가루. shelf 선반. butcher 푸줏간 주인.
complain 불평하다. price controls 가격통제. oblige 강요하다.
cut 크게 베어낸 고깃덩이(joint). accuse...of 고발하다, 비난하다.
hoarding 사재기, 秘藏(비장). speculation 투기. under the counter 비밀히, 부정하게.
official 관리. reflect 반영하다, 반사하다. imbalance 불균형.
handout [거지에게 주는] 음식, 금전. subsidy 보조금. private investment 민간투자.
scare 겁나게 하다. nationalization 國有化(국유화). dairy 酪農業(낙농업).
at the limit 최저상태로. capacity 생산능력.