thErE ArE spECtACulAr DiFFErEnCEs BEtwEEn FinAnCiAl mArkEts on thEContinEnt oFEuropE on thE onE hAnD, AnD inBritAin on thE othEr hAn
D、inBritAin, thE mArkEt is rEAlly thECity oF lonDon. it is A FrEE mArkEt, AnD it Controls most oF thE Flow oF sAvings to invEstmEnt. on thEContinEnt, EithEr A FEw BAnks or govErnmEnt oFFiCiAls DirECt thE Flow oF FunDs to suit thEir EConomiC plAns. in gErmAny thE Flow is DirECtED By All-powErFul BAnks. inBritAin thErE is morE FrEE intErplAy oF mArkEt ForCEs AnD FAr FEwEr rEgulAtions, rulEs AnD "rED tApE".
A、FrEnCh BAnkEr summED it up this wAy: "on thEContinEnt you CAn’t Do Anything unlEss you’rE BEEn tolD you CAn; inEnglAnD on thE othEr hAnD you CAn Do EvErything As long As you hAvEn’t BEEn tolD not to."
thErE ArE mAny BAsiC rEAsons For thEsE DiFFErEnCEs. onE is thAtContinEntAl sAvErs tEnD to prEFEr golD, CAsh or short-tErm AssEts. thEy invEst only 10% oF thEir sAvings in institutions likE pEnsion FunDs or insurAnCE CompAniEs.But inBritAin 50% oF sAvings goEs to thEm, AnD thEy, in turn, invEst DirECtly in Equity mArkEt.
A、FAr lowEr proportion oF sAvings is put in thE BAnks in thE Form oF liquiD AssEts thAn on thEContinEnt.ContinEntAl govErnmEnts intErvEnE DirECtly or through thE BAnks to CollECt sAvings togEthEr AnD trAnsForm thEm into mEDium or long-tErm loAns For invEstmEnt. thE Equity mArkEt is lArgEly BypAssE
D、on thEContinEnt EConomiC plAnning tEnDs to BE FAr morE CEntrAlizED thAn inBritAin. inBritAin it is possiBlE to inFluEnCE DECisions AFFECting thE Country’s EConomy From within thECity. it AttrACts A skillED AnD highly quAliFiED work ForCE. in FrAnCE, on thE othEr hAnD, An intElligEnt young mAn who wAnts A CArEEr in FinAnCE woulD proBABly FinD thE Civil sErviCE morE AttrACtivE.
inBritAin thE mArkEt, or morE ACCurAtEly, monEy tEnDs to BE rEgArDED As An EnD in itsElF. on thEContinEnt it is rEgArDED As A mEAns to An EnD: invEstmEnt in thE EConomy. toBritish EyEs ContinEntAl systEms with possiBlE ExCEption oF thEDutCh sEEm slow AnD inEFFiCiEnt.But thErE is onE outstAnDing FACt thECity shoulD not ovErlook.BritAin’s growth rAtEs AnD lEvEls oF invEstmEnt ovEr thE lAst tEn yEArs hAvE BEEn muCh lowEr thAn on thEContinEnt. thErE ArE mAny rEAsons For this, But thECity must tAkE pArt oF thE BlAmE. iF it is ACCEptED thAt thE BAsiC FunCtion oF A FinAnCiAl mArkEt is to supply inDustry AnD CommErCE with FinAnCE in orDEr to AChiEvE DEsirED rAtEs oF growth, it CAn BE sAiD thAt By ConCEntrAting on thE mArkEt For its own sAkE thECity hAs tEnDED to ForgEt thAt BAsiC FunCtion.
ACCorDing to thE pAssAgE, thEDutCh wAy oF FinAnCE AnD BAnking ______.
A、is similAr to thAt oF thE FrEnCh
B、mAkEs no DiFFErEnCE whAtEvEr systEm it is CompArED to
C、is pErhAps rEsEmBling thAt oF thEBritish
D、hAs A low EFFiCiEnCy