Here’s my version of your analysis – but it’s only one version and you could analyse the last bit as a second clause but I think this works too:
Third, the crisis [[(that is) in the European and the global economy]] [ACTOR – with downranked spatial meaning ie NOT a circumstance but a Qualifier realising circumstantial meaning] has entered [PRO: MATERIAL] a second phase, [[(that is) characterized by a recovery [[that is proceeding at a faltering pace]] //and (which) is uneven [ATTRIBUTE] across countries]]Basically, this way, you’ve got one clause with lots of embedding, which is typical of highly written text. And you’ve got circumstantial meaning being realised across numerous lexicogrammatical structures – see my attached paper (and have another one forthcoming on circumstantial meanings)
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[1] The proposed analysis can represented as follows:
Third
|
the crisis [[in the European and the global economy]]
|
has entered
|
a second phase [[characterised by a recovery [[that
is proceeding at a faltering pace]] //
and is
|
uneven
|
across countries]]
|
Actor
|
Process: material
|
?
|
Attribute
|
?
|
[2] To be clear, the instance in question is a complex of four clauses:
Third, the crisis in the European and the
global economy has entered a second phase
|
characterised by a recovery
|
that is proceeding at a faltering pace
|
and is uneven across countries
|
α
|
= β
|
||
α
|
= β
|
||
1
|
+ 2
|
Suggested transitivity analyses of the four clauses can be viewed here.
[3] Trivially, this is an embedded phrase ([ ]), not an embedded clause ([[ ]]).
[4] Trivially, // marks a tone group boundary, not a clause boundary (||).
[5] The primary source of Dreyfus' confusion — analysing a complex of four clauses as a single clause — is her mistaking non-defining relative clauses (hypotactic elaboration) for defining relative clauses (embedded clauses serving as nominal group Qualifier).
[6] To be clear, the circumstantial meanings in this instance are realised grammatically as
- locational Qualifier (nominal group): in the European and the global economy;
- circumstance of Manner (clause): at a faltering pace;
- circumstance of Location (clause): across countries.
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