英语四级长篇阅读匹配练习题(7)Exorbitant(过度旳)Privilege A. IN ICBC，a state．controlled Chinese company that is the world’s most valuable bank，bought four-fifths of the Argentine subsidiary of Standard Bank，a South African firm．The deA. was hailed as a leap forward for“South-South”co-operation—direct economic ties between emerging markets(新兴市场)．But one group of fich-world middlemen got a slice of the action：lawyers．ICBC was represented by Linklaters，an English firm，and Standard Bank by Jones Day,an American one．The deal was made under English law,with any differences to be settled in A.l English arbitration center． B.Though emerging markets now account for over hA.f the world’s GDP at purchasing-power parity(购置力平价)，and trade between them is booming，just two developed countries retain a stranglehold on cross-border finance，investment，mergers and acquisitions．Just as America benefits from issuing the world’s reserve currency,America and its former colonial master,Britain,enjoy the exorbitant privilege of issuing the world’s“reserve law”．A global survey by Queen Mary University in London in of general counsels and legal-department heads found that 40％most frequently did business using English law and another 22％American．generally the law of New York state．No other country’s lawgot a significant share． C.America and Britain reap large rewards from their legal dominance．of the world’s 100 highest-grossing law firms，9 1 have their headquarters in one of the two．America’s legA. sector is bigger than the GDP of Peru；though much of that is because of Americans’litigiousness．a good chunk comes from foreign work．The New York offices of American firms earn around$1．8 billion annually from international...
