“外刊经贸知识选读”串讲（2）

　　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。
　　第五章
　　一、术语：
　　trade representative 贸易谈判代表
　　government procurement 政府采购
　　NAFTA （ North America Free Trade Agreements ）北美自由贸易协定
　　trade sanctions 贸易制裁
　　trade hawks 贸易中主张强硬路线的鹰派人物
　　二、词语释义：
　　1.tough： uncompromising （不妥协的，强硬的）
　　2.discrimination： unfair treatment
　　3.sanctions： penalty
　　4.escalate： develop； intensify
　　5.frictions： conflicts
　　6.procurement： purchase
　　7.be bullied into doing： be forced to do
　　8.is awake t is conscious of
　　9.amenable to responsive to
　　10.a ragged start： a poor start
　　11.intolerable： unbearable
　　12.retaliate： revenge； reprisal
　　13.impose： exert； influence
　　14s.drawn-out： prolonged and boring
　　15.shock： impact
　　16. prompting： provoking
　　17. tactical： skillful
　　18. underpinning： foundation
　　19. peeved： annoyed
　　20. embrace： acceptance
　　三、句子翻译：
　　1.WASHINGTON-The Clinton administration is drawing the first lines of a tougher U.S. policy on trade， signaling to Europe and Japan that it will demand fairer treatment for American exports and is prepared to see relationships with U.S. trading partners get worse before they get better.
　　华盛顿消息：克林顿政府正采取更加强硬的美国贸易政策，向欧洲和日本发出信号要求对美国的出口品提供一个更为公正的待遇，并已做好准备迎接将在与贸易伙伴关系改善之前出现的关系恶化。
　　2.The strongest signal came last week， when Mickey Kanter， the U.S. trade representative， moved quickly to cite the 12-nation European Community for “intolerable” discrimination against U.S. companies seeking government contracts within the community. The administration will begin retaliating in six weeks if EC policies remain unchanged.
　　最强的信号来自于上周，美国贸易代表米奇·凯特引用欧共体的话指出，12国欧共体谋求共同体内部的政府间合同是对美国公司的“令人无法忍受的”歧视。凯特先生说，如果欧共体一意孤行，美国政府将于六周后开始报复。
　　3.Administration officials see littl