一、術(shù)語(yǔ)：
1.centrally-planned economy 中央計(jì)劃經(jīng)濟(jì)
2.market economy 市場(chǎng)經(jīng)濟(jì)
3.disinflationary （anti-inflationary） policies 反通貨膨脹政策
4.deflation 通貨緊縮
5.short-term dollar interest rates 短期美元利率
6.commodity market 商品市場(chǎng)
7.nominal （dollar） terms 名義（美元）價(jià)
8.constant （dollar） terms 不變（美元）價(jià)9.business cycle 商業(yè)周期
10.weighted average 加權(quán)平均數(shù)
11.hard currencies 硬通貨
12.fiscal adjustment 財(cái)政調(diào)整
13.portfolio investment 有價(jià)證券投資
14.market diversification 市場(chǎng)多元化
15.tight credit policy 緊縮的信貸政策16.exchange-rate devaluation 匯率貶值
17.accommodative monetary policy 融通性貨幣政策
18.yield curve 收益曲線
19.per capita GDP 人均國(guó)內(nèi)生產(chǎn)總值
20.GATT： General Agreement on Tariffs and Trade 關(guān)貿(mào)總協(xié)定
21.EMS： European Monetary System 歐洲貨幣體系
22.GDP deflator 消除國(guó)內(nèi)生產(chǎn)總值通貨膨脹因素指數(shù)（ GDP 平減指數(shù)）
23.CMEA （Comecon）： Council for Mutual Economic Assistance 經(jīng)互會(huì)
24.LIBOR： London Inter-Bank Offered Rate 倫敦同業(yè)銀行優(yōu)惠利率
22.per capita income 人均收入
23.multilateral trade agreements 多邊貿(mào)易協(xié)定
24.Portfolio investment 證券投資
25.cyclical deceleration in investment spending 生產(chǎn)總值通貨膨脹因素指數(shù)
26.the population-weighted growth rate 人口加權(quán)增長(zhǎng)率
二、詞語(yǔ)釋義：
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、句子翻譯：
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，在發(fā)展中國(guó)家增長(zhǎng)惡化的國(guó)際情形下，七個(gè)主要工業(yè)國(guó)的國(guó)內(nèi)生產(chǎn)總值經(jīng)歷了一個(gè)急劇的下滑，從1990年的2.8%下降到1991年的1.9%，像加拿大、美國(guó)、英國(guó)陷入了蕭條，歐洲大陸和日本增長(zhǎng)率減緩。這個(gè)減速與發(fā)生在20世紀(jì)70年代和80年代的不同。并不是反通貨膨脹政策的結(jié)果，需求的疲軟大多與發(fā)展勢(shì)頭的喪失緊密相關(guān)，這個(gè)勢(shì)頭開(kāi)始于1983年，在長(zhǎng)期擴(kuò)充中已經(jīng)形成。此外，在許多工業(yè)國(guó)減速的一個(gè)普遍的根本因素是投資開(kāi)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.
盡管美國(guó)疲軟的需求導(dǎo)致了短期美元利率急劇地下跌，但對(duì)于發(fā)展中國(guó)家的發(fā)展是積極的，它也導(dǎo)致了名義產(chǎn)品價(jià)格約6％的下跌，世界貿(mào)易增長(zhǎng)下跌了3％。蘇聯(lián)和它的后繼國(guó)經(jīng)濟(jì)情形的惡化加劇了這一趨勢(shì)，外匯短缺的增長(zhǎng)導(dǎo)致了從東歐進(jìn)口的壓縮，加速了某些產(chǎn)品的出口，獲得了硬通貨。
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.
過(guò)多債務(wù)的財(cái)政壓力招致了家族和公司部門是另外一種結(jié)構(gòu)問(wèn)題的例子，尤其是日本和美國(guó)的經(jīng)濟(jì)。這兩個(gè)國(guó)家在財(cái)政制度上采取了比較保守的借貸政策，削減了對(duì)商業(yè)建筑這類高風(fēng)險(xiǎn)的財(cái)政項(xiàng)目和對(duì)公司依靠大量借貸進(jìn)行交易的融資。大多數(shù)疲軟的機(jī)構(gòu)也通過(guò)破產(chǎn)，合并和重組來(lái)聯(lián)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.
這個(gè)高度以貿(mào)易為導(dǎo)向的地區(qū)面對(duì)的風(fēng)險(xiǎn)主要是潛在的世界貿(mào)易流中的蕭條或混亂。一些地區(qū)傳統(tǒng)出口市場(chǎng)的經(jīng)濟(jì)萎靡已強(qiáng)調(diào)了市場(chǎng)多樣化的重要性。包括進(jìn)一步加強(qiáng)地區(qū)內(nèi)的聯(lián)系。
日益活躍的東亞內(nèi)貿(mào)易可被視為一個(gè)“市場(chǎng)導(dǎo)向”地區(qū)一體化的見(jiàn)證，這一點(diǎn)可彌補(bǔ)多邊貿(mào)易協(xié)定領(lǐng)域毫無(wú)生氣的進(jìn)展局面。
1.centrally-planned economy 中央計(jì)劃經(jīng)濟(jì)
2.market economy 市場(chǎng)經(jīng)濟(jì)
3.disinflationary （anti-inflationary） policies 反通貨膨脹政策
4.deflation 通貨緊縮
5.short-term dollar interest rates 短期美元利率
6.commodity market 商品市場(chǎng)
7.nominal （dollar） terms 名義（美元）價(jià)
8.constant （dollar） terms 不變（美元）價(jià)9.business cycle 商業(yè)周期
10.weighted average 加權(quán)平均數(shù)
11.hard currencies 硬通貨
12.fiscal adjustment 財(cái)政調(diào)整
13.portfolio investment 有價(jià)證券投資
14.market diversification 市場(chǎng)多元化
15.tight credit policy 緊縮的信貸政策16.exchange-rate devaluation 匯率貶值
17.accommodative monetary policy 融通性貨幣政策
18.yield curve 收益曲線
19.per capita GDP 人均國(guó)內(nèi)生產(chǎn)總值
20.GATT： General Agreement on Tariffs and Trade 關(guān)貿(mào)總協(xié)定
21.EMS： European Monetary System 歐洲貨幣體系
22.GDP deflator 消除國(guó)內(nèi)生產(chǎn)總值通貨膨脹因素指數(shù)（ GDP 平減指數(shù)）
23.CMEA （Comecon）： Council for Mutual Economic Assistance 經(jīng)互會(huì)
24.LIBOR： London Inter-Bank Offered Rate 倫敦同業(yè)銀行優(yōu)惠利率
22.per capita income 人均收入
23.multilateral trade agreements 多邊貿(mào)易協(xié)定
24.Portfolio investment 證券投資
25.cyclical deceleration in investment spending 生產(chǎn)總值通貨膨脹因素指數(shù)
26.the population-weighted growth rate 人口加權(quán)增長(zhǎng)率
二、詞語(yǔ)釋義：
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、句子翻譯：
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，在發(fā)展中國(guó)家增長(zhǎng)惡化的國(guó)際情形下，七個(gè)主要工業(yè)國(guó)的國(guó)內(nèi)生產(chǎn)總值經(jīng)歷了一個(gè)急劇的下滑，從1990年的2.8%下降到1991年的1.9%，像加拿大、美國(guó)、英國(guó)陷入了蕭條，歐洲大陸和日本增長(zhǎng)率減緩。這個(gè)減速與發(fā)生在20世紀(jì)70年代和80年代的不同。并不是反通貨膨脹政策的結(jié)果，需求的疲軟大多與發(fā)展勢(shì)頭的喪失緊密相關(guān)，這個(gè)勢(shì)頭開(kāi)始于1983年，在長(zhǎng)期擴(kuò)充中已經(jīng)形成。此外，在許多工業(yè)國(guó)減速的一個(gè)普遍的根本因素是投資開(kāi)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.
盡管美國(guó)疲軟的需求導(dǎo)致了短期美元利率急劇地下跌，但對(duì)于發(fā)展中國(guó)家的發(fā)展是積極的，它也導(dǎo)致了名義產(chǎn)品價(jià)格約6％的下跌，世界貿(mào)易增長(zhǎng)下跌了3％。蘇聯(lián)和它的后繼國(guó)經(jīng)濟(jì)情形的惡化加劇了這一趨勢(shì)，外匯短缺的增長(zhǎng)導(dǎo)致了從東歐進(jìn)口的壓縮，加速了某些產(chǎn)品的出口，獲得了硬通貨。
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.
過(guò)多債務(wù)的財(cái)政壓力招致了家族和公司部門是另外一種結(jié)構(gòu)問(wèn)題的例子，尤其是日本和美國(guó)的經(jīng)濟(jì)。這兩個(gè)國(guó)家在財(cái)政制度上采取了比較保守的借貸政策，削減了對(duì)商業(yè)建筑這類高風(fēng)險(xiǎn)的財(cái)政項(xiàng)目和對(duì)公司依靠大量借貸進(jìn)行交易的融資。大多數(shù)疲軟的機(jī)構(gòu)也通過(guò)破產(chǎn)，合并和重組來(lái)聯(lián)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.
這個(gè)高度以貿(mào)易為導(dǎo)向的地區(qū)面對(duì)的風(fēng)險(xiǎn)主要是潛在的世界貿(mào)易流中的蕭條或混亂。一些地區(qū)傳統(tǒng)出口市場(chǎng)的經(jīng)濟(jì)萎靡已強(qiáng)調(diào)了市場(chǎng)多樣化的重要性。包括進(jìn)一步加強(qiáng)地區(qū)內(nèi)的聯(lián)系。
日益活躍的東亞內(nèi)貿(mào)易可被視為一個(gè)“市場(chǎng)導(dǎo)向”地區(qū)一體化的見(jiàn)證，這一點(diǎn)可彌補(bǔ)多邊貿(mào)易協(xié)定領(lǐng)域毫無(wú)生氣的進(jìn)展局面。