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Do foreign borrowings enrich languages or diminish them?
But the O.E.D. has always been inclusive of a wide variety of English — slang, foreign borrowings, scientific words, dialect.
Sarah Ogilvie has closely analyzed the patterns of what Burchfield decided to leave out, and concluded that he was less accepting of foreign borrowings than other editors.
In addition, India has not yet introduced full capital-account convertibility, which protects its currency, while its careful control of foreign borrowings by domestic companies limits dependence on the global financial system.
All languages are enriched by foreign borrowings and none is more of a jackdaw than English, a happy jumble of Anglo-Saxon, Norse and Old French to which hundreds of words have been added from around the world.
I hear and read so often that there is such a thing as a "pure" language (like French or Japanese or Arabic), and that its "value" can be mitigated by "invasions" of foreign borrowings.
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One reason to worry is the enormous demand for dollars by Asian companies which, not wise to the risk of devaluation, had not hedged their foreign-currency borrowings.
Foreign-currency borrowings have mostly been exchanged for real-denominated ones, so slumps in the currency no longer hurt the government's balance-sheet.
If voters find the economic pain of adjustment unbearable, politicians can pass laws that will make foreign-currency borrowings repayable in local currency.
They see it as insurance against another financial crisis, such as the one in 1997-98 when Thailand, South Korea and others suffered from an excessive reliance on short-term foreign-currency borrowings and fickle international investors.
TUMBLING exchange rates, gaping current-account deficits, fearsome foreign-currency borrowings and nasty recessions: these sound like the ingredients of a distant third-world-debt crisis from the 1980s and 1990s.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com