英语笔译实务(二级)

醉翁之意不在酒

最近，美国的一些高级经济官员宣称，人民币兑美元的价值被低估了，因此人民币应该升值。这一说法的根据是：中国的外汇储备已达约3500亿美元，而中国拥有的美国政府债券已经超过1220亿美元。从这个意义上说，中国已成为美国的最大债权国之一，已经占了上风。美国政府的这种担心不难理解。曾几何时，美国把日本当做替罪羊，说是日本人抢走了美国人的饭碗。然后又指责墨西哥。现在又指控说中国人做事不公，以廉价的币值和较低的单位成本向美国出口产品。

在此情况下，美国的高价产品滞销，美国工厂的库存积压，其结果是工人失业，甚至工厂关闭。所以，中国的经济政策应对美国的失业问题负责。此种论调根本站不住脚。如果美国的消费者不购买廉价的中国产品，则需购买高价的同类产品。因此，购买中国产品可省下钱来购买更多的由美国生产的资本密集型或知识密集型产品。实际情况是，中国向美国出口低价商品可以增加美国人的实际收入。由此看来，美国政府对中国一而再、再而三地抱怨完全是醉翁之意不在酒。

What Are They Driving At?

Recently, some top U. S. economic officials argue that the RMB yuan is undervalued vis-à-vis the U. S. dollar. Therefore, it is time for the yuan to appreciate. The basis for their argument is that China has accumulated about $350 billion in foreign-currency reserves and over $122 billion in U. S. government bonds. China has, it that sense, become one of the biggest creditors to the United States, which has given China an upper hand over the United States. It is not difficult to understand why the United States has such a worry. It was not too long ago that the Japanese were made the scapegoat of the Amerians. They were accused of taking American jobs. The the Mexicans were accused. Now they have found another accusation, saying that the Chineses are not fair – they go about exporting to the U.S. by taking advantage of a cheap yuan which means lower unit costs of Chinese goods.

Such being the case, higher priced American goods are not selling well, and inventories build up at U. S. factories, and the result is layoffs or, even worse, plant closings. Therefore, it is agued that China’s economic policies are responsible for the job losses in the U.S.. An argument of this kind can hardly hold water. American consumers either buy Chinese low priced goods or go elsewhere to buy them at higher prices. Since purchases of Chinese goods can save money, it means the Americans can make more purchases of the more capital or knowledge intensive goods manufactured in the United States. The fact of the matter is that the cheap Chinese-made exports into the United States can actually increase the real income of American consumers. It is obvious that the U. S. was making a left-handed complaint for ulterior puposes by harping on the “undervalued” RMB.

中国从容应对亚洲金融危机

1997年亚洲金融危机爆发，在周边国家货币大幅贬值、地区及世界金融市场动荡不定的情况下，中国从自身实际情况和国际形势的要求出发，实行人民币汇率稳定的政策。人民币保持稳定，对地区金融市场发挥了重要的稳定锚作用，赢得了广泛的国际赞誉。

由于中国供给能力的提高，特别是农产品供大于求和农产品价格下降，使农民的消费能力增长受到抑制，中国在2001年至2002年期间出现了轻微的通货紧缩，2002年的消费无增加增长为负0.4%。中国政府通过采取积极的财政政策和稳健的货币政策，开发西部地区和增加基础建设投资，增加外汇储备，不仅迅速摆脱了亚洲金融风波的影响，而且同伙紧缩情况得以改善，中国的物价水平在2002年下半年出现了逐月增长的局面，2003年年初的消费物价指数已经为正直。

China Stayed Calm in the Face of the Asian Financial Turmoil

The outbreak of the financial turmoil in Asia in 1997 caused the currencies of China’s neighboring countries to depreciate considerably, and the regional as well as the world financial markets to become unstable. Under such cirucumstances, in consideration of Chin a’s own reality and of the worldwide situation, China chose to keep its RMB’s exchange rates unchanged. The stable RMB exchange rates served as an anchor to maintain order in the region’s financial markets, which won general approval by the international community.

The increase in the supply of goods, especially in farm produce, has caused the prices of agricultural prodcuts to fall, which in turn hindered the increase of farmers’ consumption. There was actually a slight deflation in China in 2001 and 2002, resulting in a minus growth rate (-0.4%) in the prices of consumer goods in 2002. However, because of the the pro-active fiscal policy and the sound monetary policy, the enchancement of the development drive in China’s western regions, the increased investment in infrastructure projects, and the enlarged total of foreign exchange reserve, China not only overcame the adverse impact of the Asian financial crisis quickly, but also eased the negative effects of deflation. In the second half of 2002, the price level in China showed an increase month by month. And the consumer price index in early 2003 turned for the positive.