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グローバル人材育成の道｜海野惠一（元アクセンチュア代表）2017年02月
2017年02月22日
真実、嘘 そしてトランプ政権 嘘をつくことはアメリカの外交政策の基礎にはなりえない。
Truth, lies and the Trump administration
Falsehood cannot be the basis for US foreign policy
JANUARY 23, 2017 by: Gideon Rachman FT
真実、嘘 そしてトランプ政権
嘘をつくことはアメリカの外交政策の基礎にはなりえない。
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The man from the BBC was laughing as he reported the White House’s false claims about the size of the crowd at Donald Trump’s inauguration. He should have been crying. What we are witnessing is the destruction of the credibility of the American government.
destruction ：破滅状態
This spectacle of obvious lies being peddled by the White House is a tragedy for US democracy. But the rest of the world — and, in particular, America’s allies — should also be frightened. A Trump administration that is addicted to the “big lie” has very dangerous implications for global security.
spectacle：異様な有様
peddled：広めて回る
frightened：心配する
As Robert Moore, the Washington correspondent for ITN, puts it: “If the White House press secretary says things that we know to be demonstrably false, why will we trust him on North Korea, Russia, Iran [and the] war on Isis?” That is not just a good question — it is a vital one.
demonstrably：実証できるように
vital：極めて重要な
There are international crises during every US presidency. The Trump administration is likely to be particularly crisis-prone, given the new president’s volatile and aggressive nature. When an international confrontation looms, the US has traditionally looked to its allies for support — at the UN or even on the battlefield. But how will America be able to rally support, in the Trump era, if its allies no longer believe what the US president and his aides have to say?
crisis-prone：危機を起こしがちな
confrontation：対立
rally：支持を集める
It is true that faith in America’s word was badly damaged by the failure to find weapons of mass destruction after the invasion of Iraq in 2003. But most of America’s friends were still willing to believe that the US had blundered on the basis of false intelligence, rather than deliberately lying to make the case for war. Since the Iraq war, the Obama administration has done a lot to rebuild faith in the credibility of the US government.
blundered：大失敗する
deliberately：故意に
Mr Trump is undoing all that good work in days. He is in a different category of dishonesty from the villains of yesteryear, such as Dick Cheney, George W Bush’s vice-president. With Mr Trump, the lies are so frequent and so flagrant that they are undeniable.
villains：悪役・悪人
yesteryear：昨年
flagrant：たちの悪い
Some may argue, desperately, that lying about the size of the crowds at the inauguration, or about disputes with the intelligence services, are just “little” lies that need not affect the Trump administration’s credibility on serious issues of war and peace.
desperately：やけになって
That ignores the fact that Mr Trump’s political career has been soaked in falsehoods from the start. It began on the basis of a lie — that President Barack Obama was not born in America — and proceeded from there.
soaked：満ちてきた
proceeded ：し始める
If the Trump administration now destroys American credibility, it will have handed the Russian and Chinese governments a victory of historic proportions. The cold war was a battle not just about economics or military strength, but also about the truth. The Soviet Union collapsed, in the end, partly because it was too obvious that it was a regime based on lies.
victory of historic proportions：取り返しのつかないほどの勝利
Modern Russia has adopted a more sophisticated form of dishonesty. Vladimir Putin’s Kremlin claims, with a knowing wink, that everybody lies and manipulates, and that the White House is no different from the Kremlin. Russia has made some progress with this strategy. But it also has clear limitations. The Kremlin was unable convincingly to deny that Russian weaponry was used to shoot down Malaysia Airlines flight 17 over Ukraine in 2014. The result was the imposition of further international economic sanctions on Russia.
wink：得意顔で目配せをして
convincingly：人が納得できるように
imposition：課すこと
But in any future struggle over the true version of events during an international crisis, the rest of the world may be now no more inclined to believe Mr Trump’s America than Mr Putin’s Russia.
Having a liar in the White House is a disaster not just for global security but also for the cause of democracy all over the world. Until now, dissidents in Russia, China or other authoritarian regimes could wage a lonely and dangerous fight for the truth, and point to the west to show that a better way existed. They could argue that lies are not the norm and that “the truth will set us free”. But the word freedom barely figured in Mr Trump’s inaugural address. And the US president is clearly indifferent to the truth.
dissidents：反体制派
norm：規範
barely：ほとんどない
indifferent：無関心
If the Trump administration cannot be relied upon to stand up for normal standards of honesty in politics, where else can the world turn? The German government, led by Angela Merkel, cannot do it alone. The British may be too desperate to do a trade deal with the US to take any chances with its relationship with Mr Trump. Indeed, there is a real risk that Theresa May, the UK prime minister, will abase herself and her country by embracing Mr Trump too tightly when she visits Washington later this week.
desperate：深刻な
abase：卑下する・へりくだる
The European democracies could still set an example, by demonstrating that most western countries do not practise the debased discourse of Trumpism. But the biggest role in protecting the truth — and therefore democracy itself — will fall to Americans.
debased：品格を落とした
discourse：対話・談話
fall to：に義務がある
The press will need to be robust and courageous. The legal system, in which the truth still matters, may ultimately determine the fate of this administration.
robust：断固とした
American institutions from the media to Congress and the courts have demonstrated their independence from the White House in the past. They are about to be tested as never before.
トランプの嘘はアメリカのみならず、世界を混乱させるだろう。アメリカがしっかりしなければ他の誰も世界の秩序を維持することはできない。報道が断固として彼の嘘に対して立ち上がらなければならない。政府に対抗して議会や司法がある。彼らに訴えていくべきだろう。
確かにトランプは品格を書いた嘘をついてきた。多分、それは彼の性格だろう。彼には徳がない。育ちが悪いのかもしれない。悪いことを今までの経緯を無視して、率直に言うことが彼の支持されている理由だ。こうして、彼の嘘が続くようであれば彼は長くはないかもしれない。
木曜日。今日は大神さんと河田先生との会食が六本木である。ではまた明日。
Falsehood cannot be the basis for US foreign policy
JANUARY 23, 2017 by: Gideon Rachman FT
真実、嘘 そしてトランプ政権
嘘をつくことはアメリカの外交政策の基礎にはなりえない。
The man from the BBC was laughing as he reported the White House’s false claims about the size of the crowd at Donald Trump’s inauguration. He should have been crying. What we are witnessing is the destruction of the credibility of the American government.
destruction ：破滅状態
This spectacle of obvious lies being peddled by the White House is a tragedy for US democracy. But the rest of the world — and, in particular, America’s allies — should also be frightened. A Trump administration that is addicted to the “big lie” has very dangerous implications for global security.
spectacle：異様な有様
peddled：広めて回る
frightened：心配する
As Robert Moore, the Washington correspondent for ITN, puts it: “If the White House press secretary says things that we know to be demonstrably false, why will we trust him on North Korea, Russia, Iran [and the] war on Isis?” That is not just a good question — it is a vital one.
demonstrably：実証できるように
vital：極めて重要な
There are international crises during every US presidency. The Trump administration is likely to be particularly crisis-prone, given the new president’s volatile and aggressive nature. When an international confrontation looms, the US has traditionally looked to its allies for support — at the UN or even on the battlefield. But how will America be able to rally support, in the Trump era, if its allies no longer believe what the US president and his aides have to say?
crisis-prone：危機を起こしがちな
confrontation：対立
rally：支持を集める
It is true that faith in America’s word was badly damaged by the failure to find weapons of mass destruction after the invasion of Iraq in 2003. But most of America’s friends were still willing to believe that the US had blundered on the basis of false intelligence, rather than deliberately lying to make the case for war. Since the Iraq war, the Obama administration has done a lot to rebuild faith in the credibility of the US government.
blundered：大失敗する
deliberately：故意に
Mr Trump is undoing all that good work in days. He is in a different category of dishonesty from the villains of yesteryear, such as Dick Cheney, George W Bush’s vice-president. With Mr Trump, the lies are so frequent and so flagrant that they are undeniable.
villains：悪役・悪人
yesteryear：昨年
flagrant：たちの悪い
Some may argue, desperately, that lying about the size of the crowds at the inauguration, or about disputes with the intelligence services, are just “little” lies that need not affect the Trump administration’s credibility on serious issues of war and peace.
desperately：やけになって
That ignores the fact that Mr Trump’s political career has been soaked in falsehoods from the start. It began on the basis of a lie — that President Barack Obama was not born in America — and proceeded from there.
soaked：満ちてきた
proceeded ：し始める
If the Trump administration now destroys American credibility, it will have handed the Russian and Chinese governments a victory of historic proportions. The cold war was a battle not just about economics or military strength, but also about the truth. The Soviet Union collapsed, in the end, partly because it was too obvious that it was a regime based on lies.
victory of historic proportions：取り返しのつかないほどの勝利
Modern Russia has adopted a more sophisticated form of dishonesty. Vladimir Putin’s Kremlin claims, with a knowing wink, that everybody lies and manipulates, and that the White House is no different from the Kremlin. Russia has made some progress with this strategy. But it also has clear limitations. The Kremlin was unable convincingly to deny that Russian weaponry was used to shoot down Malaysia Airlines flight 17 over Ukraine in 2014. The result was the imposition of further international economic sanctions on Russia.
wink：得意顔で目配せをして
convincingly：人が納得できるように
imposition：課すこと
But in any future struggle over the true version of events during an international crisis, the rest of the world may be now no more inclined to believe Mr Trump’s America than Mr Putin’s Russia.
Having a liar in the White House is a disaster not just for global security but also for the cause of democracy all over the world. Until now, dissidents in Russia, China or other authoritarian regimes could wage a lonely and dangerous fight for the truth, and point to the west to show that a better way existed. They could argue that lies are not the norm and that “the truth will set us free”. But the word freedom barely figured in Mr Trump’s inaugural address. And the US president is clearly indifferent to the truth.
dissidents：反体制派
norm：規範
barely：ほとんどない
indifferent：無関心
If the Trump administration cannot be relied upon to stand up for normal standards of honesty in politics, where else can the world turn? The German government, led by Angela Merkel, cannot do it alone. The British may be too desperate to do a trade deal with the US to take any chances with its relationship with Mr Trump. Indeed, there is a real risk that Theresa May, the UK prime minister, will abase herself and her country by embracing Mr Trump too tightly when she visits Washington later this week.
desperate：深刻な
abase：卑下する・へりくだる
The European democracies could still set an example, by demonstrating that most western countries do not practise the debased discourse of Trumpism. But the biggest role in protecting the truth — and therefore democracy itself — will fall to Americans.
debased：品格を落とした
discourse：対話・談話
fall to：に義務がある
The press will need to be robust and courageous. The legal system, in which the truth still matters, may ultimately determine the fate of this administration.
robust：断固とした
American institutions from the media to Congress and the courts have demonstrated their independence from the White House in the past. They are about to be tested as never before.
トランプの嘘はアメリカのみならず、世界を混乱させるだろう。アメリカがしっかりしなければ他の誰も世界の秩序を維持することはできない。報道が断固として彼の嘘に対して立ち上がらなければならない。政府に対抗して議会や司法がある。彼らに訴えていくべきだろう。
確かにトランプは品格を書いた嘘をついてきた。多分、それは彼の性格だろう。彼には徳がない。育ちが悪いのかもしれない。悪いことを今までの経緯を無視して、率直に言うことが彼の支持されている理由だ。こうして、彼の嘘が続くようであれば彼は長くはないかもしれない。
木曜日。今日は大神さんと河田先生との会食が六本木である。ではまた明日。
2017年02月21日
多国籍企業が窮地に立っている。 グローバル企業は驚くほど攻撃に脆弱だ。(2)
In a majority of industries they are growing more slowly and are less profitable than local firms that stayed in their backyard. The share of global profits accounted for by multinationals has fallen from 35% a decade ago to 30% now. For many industrial, manufacturing, financial, natural-resources, media and telecoms companies, global reach has become a burden, not an advantage.
That is because a 30-year window of arbitrage is closing. Firms’ tax bills have been massaged down as low as they can go; in China factory workers’ wages are rising. Local firms have become more sophisticated. They can steal, copy or displace global firms’ innovations without building costly offices and factories abroad. From America’s shale industry to Brazilian banking, from Chinese e-commerce to Indian telecoms, the companies at the cutting edge are local, not global.
arbitrage：鞘取り
tax bills：税金の支払い
sophisticated：洗練された
cutting edge：最先端・優位
The changing political landscape is making things even harder for the giants. Mr Trump is the latest and most strident manifestation of a worldwide shift to grab more of the value that multinationals capture. China wants global firms to place not just their supply chains there, but also their brainiest activities such as research and development. Last year Europe and America battled over who gets the $13bn of tax that Apple and Pfizer pay annually. From Germany to Indonesia rules on takeovers, antitrust and data are tightening.
landscape：全般的状況
strident ：自己主張の強い
manifestation：感情の表れ
brainiest：聡明な
Mr Trump’s arrival will only accelerate a gory process of restructuring. Many firms are simply too big: they will have to shrink their empires. Others are putting down deeper roots in the markets where they operate. General Electric and Siemens are “localising” supply chains, production, jobs and tax into regional or national units. Another strategy is to become “intangible”. Silicon Valley’s stars, from Uber to Google, are still expanding abroad. Fast-food firms and hotel chains are shifting from flipping burgers and making beds to selling branding rights. But such virtual multinationals are also vulnerable to populism because they create few direct jobs, pay little tax and are not protected by trade rules designed for physical goods.
gory：生々しい
flipping burgers：ファストフードレストランで働く
branding rights：ブランド構築の財産
Taking back control
The retreat of global firms will give politicians a feeling of greater control as companies promise to do their bidding. But not every country can get a bigger share of the same firms’ production, jobs and tax. And a rapid unwinding of the dominant form of business of the past 20 years could be chaotic. Many countries with trade deficits (including “global Britain”) rely on the flow of capital that multinationals bring. If firms’ profits drop further, the value of stockmarkets will probably fall.
Taking back：取り戻す
bidding：人のいいなりになる
unwinding：巻き戻し・調整
What of consumers and voters? They touch screens, wear clothes and are kept healthy by the products of firms that they dislike as immoral, exploitative and aloof. The golden age of global firms has also been a golden age for consumer choice and efficiency. Its demise may make the world seem fairer. But the retreat of the multinational cannot bring back all the jobs that the likes of Mr Trump promise. And it will mean rising prices, diminishing competition and slowing innovation. In time, millions of small firms trading across borders could replace big firms as transmitters of ideas and capital. But their weight is tiny. People may yet look back on the era when global firms ruled the business world, and regret its passing.
immoral：不道徳な
exploitative：搾取的な
aloof：冷淡な
demise：終了
多国籍企業の利益がだんだん減ってきて、グローバルの利益に占める割合は３０％になってしまった。この３０年で世界の経済の事情が中国に賃金のように大きく変わってきた。トランプ政権になってアメリカの雇用を促進しようとして、こうした企業をやり玉に挙げているので、ますます、多国籍企業は衰退して行ってしまうだろう。そうなると今までそれに恩恵を受けていた消費者は高いものを買わされる羽目になるだろう。アメリカ国内の雇用な多国籍企業のアメリカ回帰を強制しても雇用な増えない。いずれ、後悔することになるだろう。
トランプの言っているアメリカの雇用を増やすために、海外の工場をアメリカに戻す政策は馬鹿げている。なぜアメリカの雇用が減ったのかの原因はそこにはないからだ。海外に工場を作るのはアメリカの工場が採算が取れないからだ。企業の利益にマイナスになることを企業に強制してもその効果はありえない。多国籍企業で元気のいいのはIT関連だけだが、本来そうした企業はグローバルビジネスを国家が支援して成り立つのだが、アメリカはそれに反した方向に動いているようだ。
水曜日。今日はいつも会食があって、水道橋カツ吉だ。夜は海野塾がある。７３１部隊とフィリピン、ビルマ、シンガポールのWWllの話をする。WWllはもうそろそろ終わりにしたい。では、また明日。
That is because a 30-year window of arbitrage is closing. Firms’ tax bills have been massaged down as low as they can go; in China factory workers’ wages are rising. Local firms have become more sophisticated. They can steal, copy or displace global firms’ innovations without building costly offices and factories abroad. From America’s shale industry to Brazilian banking, from Chinese e-commerce to Indian telecoms, the companies at the cutting edge are local, not global.
arbitrage：鞘取り
tax bills：税金の支払い
sophisticated：洗練された
cutting edge：最先端・優位
The changing political landscape is making things even harder for the giants. Mr Trump is the latest and most strident manifestation of a worldwide shift to grab more of the value that multinationals capture. China wants global firms to place not just their supply chains there, but also their brainiest activities such as research and development. Last year Europe and America battled over who gets the $13bn of tax that Apple and Pfizer pay annually. From Germany to Indonesia rules on takeovers, antitrust and data are tightening.
landscape：全般的状況
strident ：自己主張の強い
manifestation：感情の表れ
brainiest：聡明な
Mr Trump’s arrival will only accelerate a gory process of restructuring. Many firms are simply too big: they will have to shrink their empires. Others are putting down deeper roots in the markets where they operate. General Electric and Siemens are “localising” supply chains, production, jobs and tax into regional or national units. Another strategy is to become “intangible”. Silicon Valley’s stars, from Uber to Google, are still expanding abroad. Fast-food firms and hotel chains are shifting from flipping burgers and making beds to selling branding rights. But such virtual multinationals are also vulnerable to populism because they create few direct jobs, pay little tax and are not protected by trade rules designed for physical goods.
gory：生々しい
flipping burgers：ファストフードレストランで働く
branding rights：ブランド構築の財産
Taking back control
The retreat of global firms will give politicians a feeling of greater control as companies promise to do their bidding. But not every country can get a bigger share of the same firms’ production, jobs and tax. And a rapid unwinding of the dominant form of business of the past 20 years could be chaotic. Many countries with trade deficits (including “global Britain”) rely on the flow of capital that multinationals bring. If firms’ profits drop further, the value of stockmarkets will probably fall.
Taking back：取り戻す
bidding：人のいいなりになる
unwinding：巻き戻し・調整
What of consumers and voters? They touch screens, wear clothes and are kept healthy by the products of firms that they dislike as immoral, exploitative and aloof. The golden age of global firms has also been a golden age for consumer choice and efficiency. Its demise may make the world seem fairer. But the retreat of the multinational cannot bring back all the jobs that the likes of Mr Trump promise. And it will mean rising prices, diminishing competition and slowing innovation. In time, millions of small firms trading across borders could replace big firms as transmitters of ideas and capital. But their weight is tiny. People may yet look back on the era when global firms ruled the business world, and regret its passing.
immoral：不道徳な
exploitative：搾取的な
aloof：冷淡な
demise：終了
多国籍企業の利益がだんだん減ってきて、グローバルの利益に占める割合は３０％になってしまった。この３０年で世界の経済の事情が中国に賃金のように大きく変わってきた。トランプ政権になってアメリカの雇用を促進しようとして、こうした企業をやり玉に挙げているので、ますます、多国籍企業は衰退して行ってしまうだろう。そうなると今までそれに恩恵を受けていた消費者は高いものを買わされる羽目になるだろう。アメリカ国内の雇用な多国籍企業のアメリカ回帰を強制しても雇用な増えない。いずれ、後悔することになるだろう。
トランプの言っているアメリカの雇用を増やすために、海外の工場をアメリカに戻す政策は馬鹿げている。なぜアメリカの雇用が減ったのかの原因はそこにはないからだ。海外に工場を作るのはアメリカの工場が採算が取れないからだ。企業の利益にマイナスになることを企業に強制してもその効果はありえない。多国籍企業で元気のいいのはIT関連だけだが、本来そうした企業はグローバルビジネスを国家が支援して成り立つのだが、アメリカはそれに反した方向に動いているようだ。
水曜日。今日はいつも会食があって、水道橋カツ吉だ。夜は海野塾がある。７３１部隊とフィリピン、ビルマ、シンガポールのWWllの話をする。WWllはもうそろそろ終わりにしたい。では、また明日。
2017年02月20日
多国籍企業が窮地に立っている。 グローバル企業は驚くほど攻撃に脆弱だ。
The multinational company is in trouble
Global firms are surprisingly vulnerable to attack
Jan 28th 2017
多国籍企業が窮地に立っている。
グローバル企業は驚くほど攻撃に脆弱だ。
AMONG the many things that Donald Trump dislikes are big global firms. Faceless and rootless, they stand accused of unleashing “carnage” on ordinary Americans by shipping jobs and factories abroad. His answer is to domesticate these marauding multinationals. Lower taxes will draw their cash home, border charges will hobble their cross-border supply chains and the trade deals that help them do business will be rewritten. To avoid punitive treatment, “all you have to do is stay,” he told American bosses this week.
stand ：状態でいる
accused：非難された
unleashing：繋いだ犬を解き放つ
carnage：大虐殺
domesticate：動物を飼いならす
marauding：略奪するために荒しまわる
draw：引くようにそっと移動させる
hobble：を故意に妨害する
punitive：懲罰的
Mr Trump is unusual in his aggressively protectionist tone. But in many ways he is behind the times. Multinational companies, the agents behind global integration, were already in retreat well before the populist revolts of 2016. Their financial performance has slipped so that they are no longer outstripping local firms. Many seem to have exhausted their ability to cut costs and taxes and to out-think their local competitors. Mr Trump’s broadsides are aimed at companies that are surprisingly vulnerable and, in many cases, are already heading home. The impact on global commerce will be profound.
behind the times：時代遅れで
in retreat：退却して
revolts：反乱
slipped：悪化する
outstripping ：を凌ぐ
out-think：裏をかく
broadsides：激しい批判
heading：に向かう
profound：深刻な
Multinational firms (those that do a large chunk of their business outside their home region) employ only one in 50 of the world’s workers. But they matter. A few thousand firms influence what billions of people watch, wear and eat. The likes of IBM, McDonald’s, Ford, H&M, Infosys, Lenovo and Honda have been the benchmark for managers. They co-ordinate the supply chains that account for over 50% of all trade. They account for a third of the value of the world’s stockmarkets and they own the lion’s share of its intellectual property—from lingerie designs to virtual-reality software and diabetes drugs.
matter：重要である
benchmark：基準
account：を占める
lingerie：ランジェリー
They boomed in the early 1990s, as China and the former Soviet bloc opened and Europe integrated. Investors liked global firms’ economies of scale and efficiency. Rather than running themselves as national fiefs, firms unbundled their functions. A Chinese factory might use tools from Germany, have owners in the United States, pay taxes in Luxembourg and sell to Japan. Governments in the rich world dreamed of their national champions becoming world-beaters. Governments in the emerging world welcomed the jobs, exports and technology that global firms brought. It was a golden age.
fiefs：封土
unbundled：別々に切り離す
Central to the rise of the global firm was its claim to be a superior moneymaking machine. That claim lies in tatters (see Briefing). In the past five years the profits of multinationals have dropped by 25%. Returns on capital have slipped to their lowest in two decades. A strong dollar and a low oil price explain part of the decline. Technology superstars and consumer firms with strong brands are still thriving. But the pain is too widespread and prolonged to be dismissed as a blip. About 40% of all multinationals make a return on equity of less than 10%, a yardstick for underperformance.
Central：中心的な
claim：主張
tatters：ボロボロになって
dismissed：相手にされない
blip：状況の悪化
yardstick：基準
underperformance：標準以下
多国籍企業をトランプは目の敵にしているが、勝手のような状況ではない。確かに貿易の５０％を超えるサプライチェーンを主導しているが、ドル高と原油安のために、４０％の多国籍企業は株主資本利益率は１０％を切っている。
火曜日。今日は英語資料レビューのサポーターがアメリカに帰国するので、その送別会がある。困ったな。ではまた明日。
Global firms are surprisingly vulnerable to attack
Jan 28th 2017
多国籍企業が窮地に立っている。
グローバル企業は驚くほど攻撃に脆弱だ。
AMONG the many things that Donald Trump dislikes are big global firms. Faceless and rootless, they stand accused of unleashing “carnage” on ordinary Americans by shipping jobs and factories abroad. His answer is to domesticate these marauding multinationals. Lower taxes will draw their cash home, border charges will hobble their cross-border supply chains and the trade deals that help them do business will be rewritten. To avoid punitive treatment, “all you have to do is stay,” he told American bosses this week.
stand ：状態でいる
accused：非難された
unleashing：繋いだ犬を解き放つ
carnage：大虐殺
domesticate：動物を飼いならす
marauding：略奪するために荒しまわる
draw：引くようにそっと移動させる
hobble：を故意に妨害する
punitive：懲罰的
Mr Trump is unusual in his aggressively protectionist tone. But in many ways he is behind the times. Multinational companies, the agents behind global integration, were already in retreat well before the populist revolts of 2016. Their financial performance has slipped so that they are no longer outstripping local firms. Many seem to have exhausted their ability to cut costs and taxes and to out-think their local competitors. Mr Trump’s broadsides are aimed at companies that are surprisingly vulnerable and, in many cases, are already heading home. The impact on global commerce will be profound.
behind the times：時代遅れで
in retreat：退却して
revolts：反乱
slipped：悪化する
outstripping ：を凌ぐ
out-think：裏をかく
broadsides：激しい批判
heading：に向かう
profound：深刻な
Multinational firms (those that do a large chunk of their business outside their home region) employ only one in 50 of the world’s workers. But they matter. A few thousand firms influence what billions of people watch, wear and eat. The likes of IBM, McDonald’s, Ford, H&M, Infosys, Lenovo and Honda have been the benchmark for managers. They co-ordinate the supply chains that account for over 50% of all trade. They account for a third of the value of the world’s stockmarkets and they own the lion’s share of its intellectual property—from lingerie designs to virtual-reality software and diabetes drugs.
matter：重要である
benchmark：基準
account：を占める
lingerie：ランジェリー
They boomed in the early 1990s, as China and the former Soviet bloc opened and Europe integrated. Investors liked global firms’ economies of scale and efficiency. Rather than running themselves as national fiefs, firms unbundled their functions. A Chinese factory might use tools from Germany, have owners in the United States, pay taxes in Luxembourg and sell to Japan. Governments in the rich world dreamed of their national champions becoming world-beaters. Governments in the emerging world welcomed the jobs, exports and technology that global firms brought. It was a golden age.
fiefs：封土
unbundled：別々に切り離す
Central to the rise of the global firm was its claim to be a superior moneymaking machine. That claim lies in tatters (see Briefing). In the past five years the profits of multinationals have dropped by 25%. Returns on capital have slipped to their lowest in two decades. A strong dollar and a low oil price explain part of the decline. Technology superstars and consumer firms with strong brands are still thriving. But the pain is too widespread and prolonged to be dismissed as a blip. About 40% of all multinationals make a return on equity of less than 10%, a yardstick for underperformance.
Central：中心的な
claim：主張
tatters：ボロボロになって
dismissed：相手にされない
blip：状況の悪化
yardstick：基準
underperformance：標準以下
多国籍企業をトランプは目の敵にしているが、勝手のような状況ではない。確かに貿易の５０％を超えるサプライチェーンを主導しているが、ドル高と原油安のために、４０％の多国籍企業は株主資本利益率は１０％を切っている。
火曜日。今日は英語資料レビューのサポーターがアメリカに帰国するので、その送別会がある。困ったな。ではまた明日。
Stratforの2017年の予測(22)
The State of the Islamic State
The Islamic State will lose power elsewhere too. Military campaigns in Iraq and Syria will degrade the group as a conventional military force but will do little to degrade it as terrorist or insurgent force. Dispersed throughout the areas they once controlled, remnants of the Islamic State will remain relevant by exploiting ethnic and sectarian divisions throughout Iraq and Syria. Terrorist attacks will therefore return to Iraq in spectacular form. (Despite the military setbacks in Iraq, the Islamic State will have a little more latitude to operate in Syria, where the coalition effort to fight Islamic State is far more convoluted.)
campaigns；軍事行動
insurgent：暴徒
Dispersed ：分散した
remnants：残党
relevant：現実の問題の直結する
ethnic：民族的な
sectarian ：宗派間の
spectacular：目覚ましい
latitude：することをより広く許容する
convoluted：入り組んだ
Islamic State attacks abroad, however, will be a much more limited threat. Militants returning home from Iraq and Syria are certainly a risk for Western countries, but they are a risk that will be mitigated by heightened awareness and intelligence oversight and increased risk of interdiction. More resourceful grassroots terrorists that do not have to rely on extensive networks and capabilities will be the bigger threat from Islamic State in 2017, especially for the West.
mitigated：和らげる
oversight：監視
interdiction：阻止
While the Islamic State has commanded the attention of the international community, al Qaeda has been quietly rebuilding itself, honing its capabilities in multiple theaters to stage its comeback. Al Qaeda nodes that have restyled themselves under various names in Libya, Algeria, Mali, Tunisia, Egypt and Yemen are likely to become more active and influential. Al Qaeda in the Arabian Peninsula is particularly concerning. The tacit agreement it had with Saudi Arabia in Yemen has broken down, making the kingdom a viable target for the jihadist group.
commanded the attention：注目を集める
honing：に注意を向ける
nodes ：中心点
concerning：気がかりだ
tacit：暗黙の
Jihadists will remain active elsewhere, too, though their attacks will be relatively unsophisticated. If attacks become more complex in places like Indonesia and Bangladesh, it means more experienced fighters in the Middle East successfully found their way back home.
unsophisticated：お粗末な
In Nigeria, Wilayat al Sudan al Gharbi, better known by its former name, Boko Haram, will continue to adopt al Qaeda's targeting strategy, which focuses on military and Western targets while refraining from attacking civilians and Muslims. The faction of the group under the leadership of Abubaker Shekau, however, will continue to attack mosques, Muslims, markets, civilians and other soft targets.
faction：派閥
シリアやイラクにおけるISILの軍事行動は衰えていくが、今度はテロとしてシリアで展開されていくだろう。こうしたテロは海外においてはそうしたテロに対しての監視の目が厳しくなるので、数多くが起こることはない。それよりも草の根のテロ活動の方が西側諸国にとっては脅威かもしれない。またアルカイダが再び勢力を拡大していくだろう。特にイエメンをはじめとしたアラビア半島での彼らの活動が懸念される。ジハーディストは今は対したことはないが、力をつけてくるとWilayat al Sudan al Gharbi（以前のBoko Haram）のように脅威になってくるだろう。
Israel Emboldened
2017 will present Israel with a variety of opportunities, the biggest of which will come from its security guarantor, the United States. With Republicans firmly in control of the executive and legislative branches of government in the U.S., Israel will have freer rein to pursue its interests without rebuke. The country will benefit from a more assertive U.S. policy on Iran, and through Washington may try to place even more restrictions on Iranian uranium enrichment — after all, the new U.S. administration is liable to be more receptive to intelligence collected on Iran, especially if it points to infractions of the nuclear deal.
Emboldened：元気付ける
guarantor：保証人
rein：主導権を握る
rebuke：非難
assertive：積極的な
liable：しがちだ
receptive：物分かりの良い
infractions：違反行為
An emboldened Israel will also probably accelerate settlement development in the West Bank, even if doing so incites attacks from Palestinian militants. An escalation in Israeli-Palestinian frictions will stress Israel's relationships with Jordan and Egypt, both facing internal stresses of their own. (The Palestinian issue will also notably be a source of competition between Turkey and Egypt. Ankara will try to develop better relations with Palestinian groups while managing a normalized but still tense relationship with Israel.)
incites：を誘発する
stress ：に圧力を加える・緊張
notably：顕著に
normalized：正常化する
But 2017 will also present Israel with a variety of challenges. To its north, it will have to contend with Hezbollah, arguably more powerful and experienced than it has been in years thanks to its heavy participation in the Syrian civil war. But Hezbollah has its hands full. It will consolidate territory in Syria for regime loyalists, it will fend off political challenges in Lebanon and it will meanwhile keep its eye on Israel. Worried about Hezbollah's military strength, cognizant that it will have a window of opportunity, and unencumbered by Washington's reproach, Israel is likely to intensify its operations in Syria and Lebanon in an attempt to weaken Hezbollah and limit their access to advanced weaponry.
contend：争う
arguably：おそらく
consolidate：強固にする
fend：攻撃をかわす
meanwhile：一方では
cognizant：気がついて
window：一瞬の好機
unencumbered：邪魔されない
reproach：非難
イスラエルは今年は様々は好機が訪れるだろう。特にアメリカがイスラエルの後ろ盾になって、イランに対してもイスラエルに有利に動いて行くことになる。West Bankへの入植も加速するだろう。イスラエルとパレスチナの関係が悪化するとエジプトとヨルダンに対してのイスラエルととの関係も緊張を増して行くだろう。彼ら自身の国内自体も緊張状態にあるが。ヒズボラがシリアの内戦で力をつけてきている。イスラエルはアメリカが非難しないことをいいことに、シリアとレバノンでヒズボラを弱体化させようとするだろう。
このStratforの２０１７年の予測はこれで終了。
月曜日。昨日は研修資料の作成と本書き。今朝は朝会と昼は娘と昼食。ではまた明日。
The Islamic State will lose power elsewhere too. Military campaigns in Iraq and Syria will degrade the group as a conventional military force but will do little to degrade it as terrorist or insurgent force. Dispersed throughout the areas they once controlled, remnants of the Islamic State will remain relevant by exploiting ethnic and sectarian divisions throughout Iraq and Syria. Terrorist attacks will therefore return to Iraq in spectacular form. (Despite the military setbacks in Iraq, the Islamic State will have a little more latitude to operate in Syria, where the coalition effort to fight Islamic State is far more convoluted.)
campaigns；軍事行動
insurgent：暴徒
Dispersed ：分散した
remnants：残党
relevant：現実の問題の直結する
ethnic：民族的な
sectarian ：宗派間の
spectacular：目覚ましい
latitude：することをより広く許容する
convoluted：入り組んだ
Islamic State attacks abroad, however, will be a much more limited threat. Militants returning home from Iraq and Syria are certainly a risk for Western countries, but they are a risk that will be mitigated by heightened awareness and intelligence oversight and increased risk of interdiction. More resourceful grassroots terrorists that do not have to rely on extensive networks and capabilities will be the bigger threat from Islamic State in 2017, especially for the West.
mitigated：和らげる
oversight：監視
interdiction：阻止
While the Islamic State has commanded the attention of the international community, al Qaeda has been quietly rebuilding itself, honing its capabilities in multiple theaters to stage its comeback. Al Qaeda nodes that have restyled themselves under various names in Libya, Algeria, Mali, Tunisia, Egypt and Yemen are likely to become more active and influential. Al Qaeda in the Arabian Peninsula is particularly concerning. The tacit agreement it had with Saudi Arabia in Yemen has broken down, making the kingdom a viable target for the jihadist group.
commanded the attention：注目を集める
honing：に注意を向ける
nodes ：中心点
concerning：気がかりだ
tacit：暗黙の
Jihadists will remain active elsewhere, too, though their attacks will be relatively unsophisticated. If attacks become more complex in places like Indonesia and Bangladesh, it means more experienced fighters in the Middle East successfully found their way back home.
unsophisticated：お粗末な
In Nigeria, Wilayat al Sudan al Gharbi, better known by its former name, Boko Haram, will continue to adopt al Qaeda's targeting strategy, which focuses on military and Western targets while refraining from attacking civilians and Muslims. The faction of the group under the leadership of Abubaker Shekau, however, will continue to attack mosques, Muslims, markets, civilians and other soft targets.
faction：派閥
シリアやイラクにおけるISILの軍事行動は衰えていくが、今度はテロとしてシリアで展開されていくだろう。こうしたテロは海外においてはそうしたテロに対しての監視の目が厳しくなるので、数多くが起こることはない。それよりも草の根のテロ活動の方が西側諸国にとっては脅威かもしれない。またアルカイダが再び勢力を拡大していくだろう。特にイエメンをはじめとしたアラビア半島での彼らの活動が懸念される。ジハーディストは今は対したことはないが、力をつけてくるとWilayat al Sudan al Gharbi（以前のBoko Haram）のように脅威になってくるだろう。
Israel Emboldened
2017 will present Israel with a variety of opportunities, the biggest of which will come from its security guarantor, the United States. With Republicans firmly in control of the executive and legislative branches of government in the U.S., Israel will have freer rein to pursue its interests without rebuke. The country will benefit from a more assertive U.S. policy on Iran, and through Washington may try to place even more restrictions on Iranian uranium enrichment — after all, the new U.S. administration is liable to be more receptive to intelligence collected on Iran, especially if it points to infractions of the nuclear deal.
Emboldened：元気付ける
guarantor：保証人
rein：主導権を握る
rebuke：非難
assertive：積極的な
liable：しがちだ
receptive：物分かりの良い
infractions：違反行為
An emboldened Israel will also probably accelerate settlement development in the West Bank, even if doing so incites attacks from Palestinian militants. An escalation in Israeli-Palestinian frictions will stress Israel's relationships with Jordan and Egypt, both facing internal stresses of their own. (The Palestinian issue will also notably be a source of competition between Turkey and Egypt. Ankara will try to develop better relations with Palestinian groups while managing a normalized but still tense relationship with Israel.)
incites：を誘発する
stress ：に圧力を加える・緊張
notably：顕著に
normalized：正常化する
But 2017 will also present Israel with a variety of challenges. To its north, it will have to contend with Hezbollah, arguably more powerful and experienced than it has been in years thanks to its heavy participation in the Syrian civil war. But Hezbollah has its hands full. It will consolidate territory in Syria for regime loyalists, it will fend off political challenges in Lebanon and it will meanwhile keep its eye on Israel. Worried about Hezbollah's military strength, cognizant that it will have a window of opportunity, and unencumbered by Washington's reproach, Israel is likely to intensify its operations in Syria and Lebanon in an attempt to weaken Hezbollah and limit their access to advanced weaponry.
contend：争う
arguably：おそらく
consolidate：強固にする
fend：攻撃をかわす
meanwhile：一方では
cognizant：気がついて
window：一瞬の好機
unencumbered：邪魔されない
reproach：非難
イスラエルは今年は様々は好機が訪れるだろう。特にアメリカがイスラエルの後ろ盾になって、イランに対してもイスラエルに有利に動いて行くことになる。West Bankへの入植も加速するだろう。イスラエルとパレスチナの関係が悪化するとエジプトとヨルダンに対してのイスラエルととの関係も緊張を増して行くだろう。彼ら自身の国内自体も緊張状態にあるが。ヒズボラがシリアの内戦で力をつけてきている。イスラエルはアメリカが非難しないことをいいことに、シリアとレバノンでヒズボラを弱体化させようとするだろう。
このStratforの２０１７年の予測はこれで終了。
月曜日。昨日は研修資料の作成と本書き。今朝は朝会と昼は娘と昼食。ではまた明日。
2017年02月19日
Stratforの2017年の予測(21)
North Africa
These same dynamics will appear in the GCC's foreign policy in North Africa. Saudi Arabia will continue to give its allies economic and security support in exchange for their support of its foreign policy in places like Yemen and Syria. The United Arab Emirates will be a more moderate voice, however, and in its moderation it will undermine the credibility of Saudi Arabia.
credibility：威信
Egypt will be economically stable enough in 2017 to formulate a foreign policy independent of Saudi interests. To that end, it will try to attract funding from as many external partners as possible. Now that Cairo has devalued its currency, agreed to a deal with the International Monetary Fund and enacted more fuel subsidy reforms, it must implement more fundamental, structural reform, such as reducing public sector wages and raising tax revenue. The government of President Abdel Fattah al-Sisi will be only modestly successful in that regard, hamstrung as it is by the legislature and the people, who bear the brunt of the country's economic malaise.
hamstrung：困難にする
as it is：現状では
brunt ：影響を被る
malaise：沈滞
Egypt will meanwhile remain involved in Libya, where Egyptian and Emirati support for nationalist Gen. Khalifa Hifter, who commands the Libyan National Army, is beginning to pay off. Hifter will be able to strengthen his military and political control in eastern Libya and will expand his control into Western Libya, but he will be unable to do so entirely. The Libyan National Army will try to rally militias to its cause, but not all of them will want to fight for Hifter. Regardless, Hifter's divisiveness is bound to impede U.N.-led negotiations to form and approve a unity government. And so Libya will continue to be a battlespace among rival militias that will limit the potential for a lasting peace deal in 2017. Whoever wins this competition will win Libya's oil wealth.
Khalifa Hifter：２０１４年、Khalifa Hifterという元リビア軍の軍人がLibya National Armyを率いて東部の重要都市ベンガジから行動を起こし、瞬く間にトリポリに軍を進めて議会を事実上解体してしまいました。ヒフターという人物が米国の支持と差し金の下で動いていることに全く疑いの余地はなく、今後について一言いえば、エジプトのアル・シシ将軍（今度の選挙で圧倒的得票率で大統領に当選）とカリファ・ハフター将軍はペアにして考えておくとよいでしょう。シシ将軍がエジプトでそうしたように、ハフター将軍は、米国の意向の下に、リビアでクーデターを行なっているのです。（インターネットから引用）
pay off：うまく行く
rally：大義のために集まる
divisiveness：対立
impede：阻害する
The Islamic State, meanwhile, will lose a lot of its power but will find refuge and allies in the far reaches of Libya. At the same time, al Qaeda-linked militias will continue to quietly expand their influence.
refuge：避難所
サウジはイエメンとかシリアのようなところに支援しているが、UAEが影響力を増して来ている。エジプトが経済的な安定を背景に力を増して来ている。リビアに関与して来ていて、Khalifa HifterのLibya National Armyを支援している。何が勝つにしても、その石油資源を手に入れることになる。
日曜日。昨日は海野塾があった。今日は朝から英語の研修資料のレビューを行った。ではまた明日。
These same dynamics will appear in the GCC's foreign policy in North Africa. Saudi Arabia will continue to give its allies economic and security support in exchange for their support of its foreign policy in places like Yemen and Syria. The United Arab Emirates will be a more moderate voice, however, and in its moderation it will undermine the credibility of Saudi Arabia.
credibility：威信
Egypt will be economically stable enough in 2017 to formulate a foreign policy independent of Saudi interests. To that end, it will try to attract funding from as many external partners as possible. Now that Cairo has devalued its currency, agreed to a deal with the International Monetary Fund and enacted more fuel subsidy reforms, it must implement more fundamental, structural reform, such as reducing public sector wages and raising tax revenue. The government of President Abdel Fattah al-Sisi will be only modestly successful in that regard, hamstrung as it is by the legislature and the people, who bear the brunt of the country's economic malaise.
hamstrung：困難にする
as it is：現状では
brunt ：影響を被る
malaise：沈滞
Egypt will meanwhile remain involved in Libya, where Egyptian and Emirati support for nationalist Gen. Khalifa Hifter, who commands the Libyan National Army, is beginning to pay off. Hifter will be able to strengthen his military and political control in eastern Libya and will expand his control into Western Libya, but he will be unable to do so entirely. The Libyan National Army will try to rally militias to its cause, but not all of them will want to fight for Hifter. Regardless, Hifter's divisiveness is bound to impede U.N.-led negotiations to form and approve a unity government. And so Libya will continue to be a battlespace among rival militias that will limit the potential for a lasting peace deal in 2017. Whoever wins this competition will win Libya's oil wealth.
Khalifa Hifter：２０１４年、Khalifa Hifterという元リビア軍の軍人がLibya National Armyを率いて東部の重要都市ベンガジから行動を起こし、瞬く間にトリポリに軍を進めて議会を事実上解体してしまいました。ヒフターという人物が米国の支持と差し金の下で動いていることに全く疑いの余地はなく、今後について一言いえば、エジプトのアル・シシ将軍（今度の選挙で圧倒的得票率で大統領に当選）とカリファ・ハフター将軍はペアにして考えておくとよいでしょう。シシ将軍がエジプトでそうしたように、ハフター将軍は、米国の意向の下に、リビアでクーデターを行なっているのです。（インターネットから引用）
pay off：うまく行く
rally：大義のために集まる
divisiveness：対立
impede：阻害する
The Islamic State, meanwhile, will lose a lot of its power but will find refuge and allies in the far reaches of Libya. At the same time, al Qaeda-linked militias will continue to quietly expand their influence.
refuge：避難所
サウジはイエメンとかシリアのようなところに支援しているが、UAEが影響力を増して来ている。エジプトが経済的な安定を背景に力を増して来ている。リビアに関与して来ていて、Khalifa HifterのLibya National Armyを支援している。何が勝つにしても、その石油資源を手に入れることになる。
日曜日。昨日は海野塾があった。今日は朝から英語の研修資料のレビューを行った。ではまた明日。
2017年02月18日
Stratforの2017年の予測(20)
The Path to Gulf Reform
Saudi Arabia will relish the deterioration of U.S.-Iran relations. And, like Turkey, it will be driven to bolster its regional proxy battles with Iran. However, Riyadh will have to weigh expensive foreign campaigns against mounting pressures at home. After slashing capital expenditures and trimming its public sector bill in 2016, Saudi Arabia will be able to reduce its budget deficit in 2017. Still, the path to reform has been slow and bumpy, and it will be difficult for Saudi Arabia to translate its ambitious Vision 2030 and Vision 2020 plans into tangible directives its struggling private sector can follow. With more than four times more money set aside this year than last for implementing Vision 2020 directives, Saudi leaders will pressure the public and private sector to begin shifting operations accordingly and create more jobs.
relish：することに喜びを感じる
driven：追い込む
weigh：念入りに検討する
trimming：削減する
public sector：公共部門
directives：命令
set aside：取っておく
accordingly：それを受けて
Meanwhile, Riyadh will prepare for Saudi Aramco's initial public offering, which will take place in 2018, and will broaden the scope of its Public Investment Fund to adopt riskier investments abroad in a bid to turn its wealth repository into a true sovereign wealth fund. Mimicking countries like Kuwait and the United Arab Emirates, Saudi Arabia will continue to diversify its overseas investments into various tech sectors — a tried and true way to generate revenue in the long term. The United Arab Emirates will lead a Gulf-wide initiative and put technical preparations in place to set up a standard value-added tax levied at 5 percent. The initiative is slated to kick off in early 2018.
initial：新規株式公募
repository：容器
Mimicking：真似る
levied：課税する
slated：の予定である
Saudi citizens will clamor for change as the drive toward reform presses on, but the government will prioritize the economy over social reform. Even a modest social reform risks alienating the Saudi religious establishment, whose support for the House of Saud will need to manage homegrown jihadist threats.
clamor：大声で要求する
alienating：疎外する
House of Saud：サウド王室 同時多発テロの際立った特徴の一つは、四機の米国民間航空機を乗っ取ったテロリスト十九人のうち、十五人までがサウジアラビア国籍だったことだ。これは、ビンラディンの指揮するテロ組織「アル・カイーダ」の主張に共鳴し、自らの命を犠牲にしてまでも「聖戦」（ジハード）に身を投じる若者が、サウジアラビアには大勢いることを示している。
The rest of the Gulf Cooperation Council will act in concert to curb Iranian influence and defend against common economic and security threats. But there are cracks in the facade of unity. Saudi Arabia will struggle to steer Yemen toward a negotiated settlement while the United Arab Emirates firms up its position in southern Yemen. Oman, known for its relative neutrality, will not participate in the GCC's antagonizing of Iran.
facade：外見
steer：もって行く
settlement：合意
サウジアラビアはアメリカとイランの関係悪化を歓迎しているが、問題は国内だ。石油価格の低迷で、国家予算が赤字続きて、その改革に頭を抱えている。アラムコの上場とそれを元手とした投資をどうするか目論んでいる。政府は社会改革よりも経済の回復に優先度をげている。しかしながら、社会改革なしでは、王族支配の今のままの国家運営も行き詰まって行くだろう。湾岸協力会議はイエメンの紛争もあり、亀裂が入っているのが現状だ。
サウジのパワーは石油の低迷とともに凋落して行くに違いない。ともかく王族の数が多いのとその腐敗がひどいようだ。そうした中での緊縮財政はうまく行くわけがない。５年は持つと言われているが、もっと短いかもしれない。栄枯盛衰とはこの国のことかもしれない。もしかするとここで書いてあるように、そうした国民の不満がジハーディストの温床の場を提供してしまうことになるかもしれない。
土曜日。昨日は朝会と昼の政府の方との会食。本書き。今日は海野塾がある。ではまた明日。
Saudi Arabia will relish the deterioration of U.S.-Iran relations. And, like Turkey, it will be driven to bolster its regional proxy battles with Iran. However, Riyadh will have to weigh expensive foreign campaigns against mounting pressures at home. After slashing capital expenditures and trimming its public sector bill in 2016, Saudi Arabia will be able to reduce its budget deficit in 2017. Still, the path to reform has been slow and bumpy, and it will be difficult for Saudi Arabia to translate its ambitious Vision 2030 and Vision 2020 plans into tangible directives its struggling private sector can follow. With more than four times more money set aside this year than last for implementing Vision 2020 directives, Saudi leaders will pressure the public and private sector to begin shifting operations accordingly and create more jobs.
relish：することに喜びを感じる
driven：追い込む
weigh：念入りに検討する
trimming：削減する
public sector：公共部門
directives：命令
set aside：取っておく
accordingly：それを受けて
Meanwhile, Riyadh will prepare for Saudi Aramco's initial public offering, which will take place in 2018, and will broaden the scope of its Public Investment Fund to adopt riskier investments abroad in a bid to turn its wealth repository into a true sovereign wealth fund. Mimicking countries like Kuwait and the United Arab Emirates, Saudi Arabia will continue to diversify its overseas investments into various tech sectors — a tried and true way to generate revenue in the long term. The United Arab Emirates will lead a Gulf-wide initiative and put technical preparations in place to set up a standard value-added tax levied at 5 percent. The initiative is slated to kick off in early 2018.
initial：新規株式公募
repository：容器
Mimicking：真似る
levied：課税する
slated：の予定である
Saudi citizens will clamor for change as the drive toward reform presses on, but the government will prioritize the economy over social reform. Even a modest social reform risks alienating the Saudi religious establishment, whose support for the House of Saud will need to manage homegrown jihadist threats.
clamor：大声で要求する
alienating：疎外する
House of Saud：サウド王室 同時多発テロの際立った特徴の一つは、四機の米国民間航空機を乗っ取ったテロリスト十九人のうち、十五人までがサウジアラビア国籍だったことだ。これは、ビンラディンの指揮するテロ組織「アル・カイーダ」の主張に共鳴し、自らの命を犠牲にしてまでも「聖戦」（ジハード）に身を投じる若者が、サウジアラビアには大勢いることを示している。
The rest of the Gulf Cooperation Council will act in concert to curb Iranian influence and defend against common economic and security threats. But there are cracks in the facade of unity. Saudi Arabia will struggle to steer Yemen toward a negotiated settlement while the United Arab Emirates firms up its position in southern Yemen. Oman, known for its relative neutrality, will not participate in the GCC's antagonizing of Iran.
facade：外見
steer：もって行く
settlement：合意
サウジアラビアはアメリカとイランの関係悪化を歓迎しているが、問題は国内だ。石油価格の低迷で、国家予算が赤字続きて、その改革に頭を抱えている。アラムコの上場とそれを元手とした投資をどうするか目論んでいる。政府は社会改革よりも経済の回復に優先度をげている。しかしながら、社会改革なしでは、王族支配の今のままの国家運営も行き詰まって行くだろう。湾岸協力会議はイエメンの紛争もあり、亀裂が入っているのが現状だ。
サウジのパワーは石油の低迷とともに凋落して行くに違いない。ともかく王族の数が多いのとその腐敗がひどいようだ。そうした中での緊縮財政はうまく行くわけがない。５年は持つと言われているが、もっと短いかもしれない。栄枯盛衰とはこの国のことかもしれない。もしかするとここで書いてあるように、そうした国民の不満がジハーディストの温床の場を提供してしまうことになるかもしれない。
土曜日。昨日は朝会と昼の政府の方との会食。本書き。今日は海野塾がある。ではまた明日。
