【推荐2】A Mountain But not a Volcano

On September 20th the Bank of International Settlements (BIS), the central banks' central bank, released data showing that corporate borrowing around the world remains at an all time high. A notable ______ is in China, where there is even more business borrowing as a share of GDP than in Japan at the peak of its bubble-related borrowing fever in the 1990s. But it is high everywhere. Corporate ______ in the rich world stood at 102% of GDP at the end of March, compared with 92% before the outbreak of the covid-19 pandemic. Could high levels of debt ______ the recovery in advanced economies?

Many regulators were sounding the ______ about elevated company debt even before the covid19 pandemic. Since then, the hit to firm's incomes has led to a wave of rating downgrades: between March 2020 and March 2021, Fitch, a ratings agency, ______ 460 firms, or almost 20% of its corporate portfolio. While defanlts (违约) have eased this year as economies have recovered, many firms will be ______ by higher levels of debt for years to come. Even if interest rates remain ______, this "debt overhand" could affect their willingness to invest or to hire new staff.

Intriguingly, however, aftereffects from corporate debt booms rarely cause significant economic damage, even if ______ themselves suffer when firms default. A recent paper by Moritz Schularick, of the University of Bonn, and several co-authors, examines data on business cycles for 17 advanced countries over more than a century, and compares corporate debt bursts with those associated with ______ borrowing (like the 200809 financial crisis).

The authors argue that lenders often have a/an ______ to restructure old corporate loans, reducing the risk of "zombie" companies persisting, and freeing up finance to support the next recovery. For household debt, however, restructuring thousands of ______ loans is often impossible, and lenders may be more inclined to keep the loans on their books in the hope that house prices eventually ______. The risks to the economy are higher after commercial property bursts than for corporate debt where lenders mainly have their eyes on firm's cash flows. This is one reason why the property-related debt depression in China are potentially disturbing.

In much of the rich world, there are reasons to be ______ optimistic. The largest lenders are in much better health than in 2008. All of the major ______ authorities, carried out stress tests during 2020, using macroeconomic scenarios much more severe than have actually came out, but their banking systems were able to absorb large corporate losses and carry on lending. And the parts of the economy that have had the toughest time during the pandemic only account for a relatively small share of corporate debt. For example, the BIS projects that ______ will increase in the hospitality industry (酒店餐饮业) over the coming years, but they note that the sector only accounts for between 1.5% and 8% of corporate credit in the nine major economies they model.

There will be a mountain of corporate debt in many countries for some time. But that dos not mean the recovery will necessarily falter (衰退).

【推荐3】Word on the street is that gossip is the worst. An Ann Landers（安·兰德斯, 知名专栏作家）advice column once characterized it as "the faceless demon that breaks ________and ruins careers" The Talmud（describes it as "three-pronged tongue" that kills three people: the teller, the ________, and the person being gossiped about. And Blaise Pascal observed, not unreasonably, that if "people really knew what others said about them, there would not be four friends left in the world."________as these indictments（控告）seem, however, a significant body of research suggests that gossip may in fact be healthy.

It's a good thing, too, since gossip is pretty common. Children tend to be seasoned gossips by the age of 5, and gossip as most researchers understand it--talk between at least two people about ________ others-accounts for about two-thirds of conversation.

Despite dodgy（躲闪）reputation, surprisingly ________share of it--as little as 3 to 4percent-is actually malicious（蓄意的）. And even that portion can bring people together. Researchers at the University of Texas and the University of Oklahoma found that if two people share negative feelings about a third person, they are likely to feel closer to each other than they would if they both felt ________about him or her.

Gossip may even make us better people. A team of Dutch researchers reported that hearing gossip about others made research subjects more ________positive gossip inspired self-improvement efforts, and negative gossip made people prouder of themselves. In another study, the worse participants felt upon hearing a piece of negative gossip, the more likely they were to say they had learnt a ________from it. Negative gossip can also have a prosocial（亲社会的）effect on those who are gossip about. Researchers at Stanford and UC Berkeley found that once people were ostracized（排斥）from a ground due to reputed selfishness, they reformed their ways in an attempt to regain the ________ of the people they had alienated.

By far the most positive assessment of gossip, though, comes from the anthropologist and evolutionary psychologist Robin Dunbar. Once upon a time, in Dunbar's account, our primate ancestors ________ through grooming（梳毛）, their mutual back-scratching ensuring mutual self-defense in the event of attack by predators. But as hominids（原始人类）grew more intelligent and more social, their groups became too ________ to unite by grooming alone. That's where ________and gossip, broadly defined-stepped in. Dubar argues that idle chatter with and about others gave early humans sense of shared identity and helped them grow ________ of their environment, thus cultivating the complex higher functioning that would ________ yield such glories of civilization as the Talmud, Pascal, and Ann Landers.

So next time you're tempted to gossip, fear not-you may actually be promoting cooperation, boosting others self-esteem, and ________ essential task of the human family. That`s what I heard, anyway.

【推荐3】Expressive arts therapy is a form of therapy that uses dance, drama, music, poetry, and art to enhance one's overall well－being. The arts are used to let go, _____ and to release.

People have been using the arts as tools for _____for many centuries. In the early 1940's expressive arts therapy became formally _____ and has since provided meaningful therapeutic _____ for people of all ages in a variety of treatment settings. There is no right or wrong way in the arts and clients are encouraged to be _____ with self－expression. Expressive arts therapy focuses on the _____ of making art and exploring _____ the piece means to the individual, _____ the final product.

Through the arts, people can _____ ideas and feelings that may be hard to put into words, such as negative memories and stress. It has been _____ that use of the arts can help people develop social skills, _____ anxiety, manage behavior, and increase self－confidence. A free form of expression makes clients _____ of their own work by reducing the need to compare themselves to others, an unfortunate problem seen today.

Expressive arts therapists are professionally _____. Anyone can be an expressive art therapist provided that they get the appropriate training. Knowledge in psychology is _____ to all training, but from there training _____ includes getting a master's degree in counseling with specialized instruction in implementing (实施) the art, music, poetry, and dance/movement therapeutically. Some professionals extend their _____ and obtain a PhD in expressive therapy.

_____ expressive arts therapy is unique, the clinical goal is _____ to other mental health professions. This _____ is to facilitate clients' growth and _____ change.