第三章

　　一、术语：

　　1.economic heavyweight 举足轻重的经济强国

　　2.commercial hub 商业活动中心

　　3.Per capita 人均

　　4.Gross National Product 国民生产总值

　　5.punitive import tariff 惩罚性进口关税

　　6.securities 有价证券

　　7.real estate market 房地产市场

　　8.“ Greater China”trade bloc “大中华”贸易集团

　　9.conglomerate 跨行业公司

　　10.consortium 国际财团

　　11.GATT:General Agreement on Tariffs and Trade 关贸总协定

　　二、词语释义：

　　1.jockey: move

　　2.is bustling with: is filled with

　　3.giddy: dizzy; euphoric

　　4.farfetched: improbable; incredible

　　5.clear: earn a net profit

　　6.deal a hard blow t strike heavily

　　7.rung: level

　　8.retaliation: return of ill treatment for ill treatment; revenge; reprisal

　　9.career out of control: run out of control

　　三、句子翻译：

　　1. A farfetched prediction? The new American administration doesn’t think so. Bill Clinton has appointed China hands to top Asia posts at the state and Treasury departments. When critics called the appointments a slight to Japan, the leading Pacific economic power, U.S. Deputy Treasury Secretary Roger Altman explained the administration’s reasoning: by early in the next century, he said ,China may replace Japan in importance to the U.S. as an economic partner. Japan recognizes the rise of China. As a warning shot in an intensifying rivalry, Tokyo last week put punitive import tariffs on Chinese steel.

　　一个牵强的预测吗？新美国行政机构不这样俯为，克林顿已被委任中国国务院和财政部在亚洲的要职，评论家称这个委任冷落了日本。最大的太平经济力量，美国的代表-财政部长罗格·奥得曼解释行政机构的理由：他说：“在下个世纪初，中国可以会取代日本作为美国经济伙伴的重要地位。”日本承认中国的崛起，上周日本作为在日益激烈竞争中的一次鸣枪警示给中国的钢以惩罚性的进口关税。

　　2.With the U.S. Congress due to consider the renewal of China"s most-favored nation trade status in June, officials in Beijing fear the trade imbalance could surpass human rights as a source of U.S. opposition to preferred status for China. “The trade surplus itself will be the NO.1 problem this year.” Says one Chinese official. “After Japan, we’ll be first in line for relation.”

　　美国议会由于考虑在六月延长中国最惠国待遇，北京的官员担心贸易不平衡可能超越人权问题而作为反对优惠待遇的借口。中国的一位官员说：“贸易顺差将会成为今年首要问题。”继日本之后，我们会成为第一个被报复的国家。

　　3.However, even as the party promotes growth as a national priority, it worries about going too far. Inflation has recently climbed back into double digits, and the party press is issuing strident warnings, urging restraint on buyers and sellers alike. Rapid development is overwhelming China’s antique transport networks.

　　然而，正当党把促进增长作为一个国家优先的问题时，它又担心增长的太快。通货膨胀已在近期又回到了两位数，党政刊物发出刺耳的警告，力劝买卖方都要克制。

　　第四章

　　一、术语：

　　1.centrally-planned economy 中央计划经济

　　2.market economy 市场经济

　　3.disinflationary (anti-inflationary) policies 反通货膨胀政策

　　4.deflation 通货紧缩

　　5.short-term dollar interest rates 短期美元利率

　　6.commodity market 商品市场

　　7.nominal (dollar) terms 名义(美元)价

　　8.constant (dollar) terms 不变(美元)价9.business cycle 商业周期

　　10.weighted average 加权平均数

　　11.hard currencies 硬通货

　　12.fiscal adjustment 财政调整

　　13.portfolio investment 有价证券投资

　　14.market diversification 市场多元化

　　15.tight credit policy 紧缩的信贷政策16.exchange-rate devaluation 汇率贬值

　　17.accommodative monetary policy 融通性货币政策

　　18.yield curve 收益曲线

　　19.per capita GDP 人均国内生产总值

　　20.GATT: General Agreement on Tariffs and Trade 关贸总协定

　　21.EMS: European Monetary System 欧洲货币体系

　　22.GDP deflator 消除国内生产总值通货膨胀因素指数( GDP 平减指数)

　　23.CMEA (Comecon): Council for Mutual Economic Assistance 经互会

　　24.LIBOR: London Inter-Bank Offered Rate 伦敦同业银行优惠利率

　　22.per capita income 人均收入

　　23.multilateral trade agreements 多边贸易协定

　　24.Portfolio investment 证券投资

　　25.cyclical deceleration in investment spending 生产总值通货膨胀因素指数

　　26.the population-weighted growth rate 人口加权增长率

　　二、词语释义：

　　1.in a row: in succession

　　2.easing: slowing down; decrease

　　3.momentum: force of movement

　　4.underlying: being at the basis of

　　5.slackening: slowing of speed

　　6.compound: worsen

　　7.moderate inflation: ease inflation

　　8.robust: strong and healthy

　　9.setbacks: frustrations

　　10.slump: depression

　　11.edge down: move slowly down

　　12.depreciation: devaluation

　　13.spike: abrupt increase

　　14.pick-up: recovery

　　15.rein in: control

　　16.bottoming-out: reaching the lowest point before rising again ( 止跌回升)

　　17.stagnat: stop; almost

　　三、句子翻译：

　　1.International conditions for growth in developing countries deteriorated in 1991. The Seven major industrial countries (the G-7) experienced a significant slowdown in GDP growth-from 2.8 percent in 1990 to 1.9 percent during 1991 as recession gripped Canada, the United Kingdom, and the United States and growth rates slowed in Continental Europe and Japan. In important respects. The slowdown was different from those that occurred during the 1970s and 1980s. Rather than reflecting the effect of disinflationary policies, weakness in demand was more closely related to the loss of momentum that had built up during the long period of expansion that began in 1983. In addition, a common factor underlying the slowdown in many industrial countries was the cyclical deceleration in investment spending.

　　1991年，在发展中国家增长恶化的国际情形下，七个主要工业国的国内生产总值经历了一个急剧的下滑，从1990年的2.8%下降到1991年的1.9%，像加拿大、美国、英国陷入了萧条，欧洲大陆和日本增长率减缓。这个减速与发生在20世纪70年代和80年代的不同。并不是反通货膨胀政策的结果，需求的疲软大多与发展势头的丧失紧密相关，这个势头开始于1983年，在长期扩充中已经形成。此外，在许多工业国减速的一个普遍的根本因素是投资开支的周期性。

　　2.Although the weakness in demand in the United States led to a sharp decline in short-term dollar interest rates—a positive development for many developing countries—it also contributed to a drop of over 6 percent in nominal commodity prices and to a slackening, to 3 percent, in the growth of world trade. These trends were compounded by worsening economic conditions in the soviet Union and its successor states, where a growing shortage of foreign exchange led to a compression of import from Eastern Europe and an acceleration of certain commodity exports to earn hard currencies.

　　尽管美国疲软的需求导致了短期美元利率急剧地下跌，但对于发展中国家的发展是积极的，它也导致了名义产品价格约6%的下跌，世界贸易增长下跌了3%。苏联和它的后继国经济情形的恶化加剧了这一趋势，外汇短缺的增长导致了从东欧进口的压缩，加速了某些产品的出口，获得了硬通货。

　　3.Financial stress brought on by excessive debt in the household and corporate sectors was an example of another kind of structural problem, in particular for the economies of Japan and the United States. Financial institutions in these two countries adopted more conservative lending policies, curtailing financing of higher-risk projects such as commercial construction and highly leveraged corporate transaction. A number of weaker institutions were also consolicated through bankruptcy, merger and reorganization.

　　过多债务的财政压力招致了家族和公司部门是另外一种结构问题的例子，尤其是日本和美国的经济。这两个国家在财政制度上采取了比较保守的借贷政策，削减了对商业建筑这类高风险的财政项目和对公司依靠大量借贷进行交易的融资。大多数疲软的机构也通过破产，合并和重组来联合。

　　4.The major risk facing this highly trade-oriented region is the potential for sluggishness or disruption in world-trade flows. Economic weakness in some of the region’s traditional export markets has underlined the importance of market diversification, including a further strengthening of ties within the region. Increasingly buoyant intraregional trade in East Asia may be viewed as evidence of an ongoing process of “market-oriented” regional integration, a development that could partially offset lackluster progress in the area of multilateral trade agreements.

　　这个高度以贸易为导向的地区面对的风险主要是潜在的世界贸易流中的萧条或混乱。一些地区传统出口市场的经济萎靡已强调了市场多样化的重要性。包括进一步加强地区内的联系。

　　日益活跃的东亚内贸易可被视为一个“市场导向”地区一体化的见证，这一点可弥补多边贸易协定领域毫无生气的进展局面。

本文转自《花落雪的BLOG》，点击查看博客原文。

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