chapter11王关富商务英语阅读译文.doc
商务英语阅读(第二版)-王关富-UnitThe-Incredible-Shrinking-Europe-课后标准答案
商务英语阅读(第二版)-王关富-UnitThe-Incredible-Shrinki ng-Europe-课后答案————————————————————————————————作者：————————————————————————————————日期：Unit 4The Incredible Shrinking EuropeExercises1. Answers to the questions on the text:1) What was the dream that the Europhiles were familiar with?Their dream was to make E.U. a newly emboldened world power stepping up to calm trouble spots, using aid and persuasion where it could, but prepared to send in troops when it had to.2) Why does the passage say that Europe is a remarkably good place to live?Because Europe is more stable, safe, green and culturally diverse than most parts of the world and a quality life can be guaranteed in E.U. states.3) Does the good life at home make Europe strong abroad ? Why?No, a good life at home doesn’t mean a strong Europe abroad. Because the E.U.may have all the soft-power credentials in the world, but on the grand stage it has lacked the weight and influence of others on some big issues.4) What do Critics think of the selection of Herman Van Rompuy and Catherine Ashton as Europe's President and Foreign Minister?They consider the selection as symbolic of a lack of vision and it means the grouping will have to reconcile itself to five years of underperformance.5) What can be listed as E.U.’s achievements in the years around 1980s according to the passage?By extending an area of peace and liberal government to the east, the E.U. has done much to calm a part of the world that not long ago was the cockpit for murderous rivalries.6) In what way can Europe realize its own dreams and those of others according to the passage?It has to act as a true single bloc and win others to its side.7) Why does the German government face enormous domestic challenges in admitting its forces in Afghanistan are there to fight, not to be humanitarian workers in uniform ?Because one of modern Europe's most cherished convictions is that the force of arms rarely settles political disputes for long and European public opinion in the 20th century seems unwilling to commit to the war in Afghanistan for the long haul.8) What roles did Germany play in Europe in the 20th century?For the last half of the 20th century, Germany was at the heart of the European experiment. But since the end of the Cold War, it has stepped back from the E.U.and begun strengthening ties with Russia.9 What are the advantages for E.U. to be chosen as the White House’s partner?The advantages are that Europe is rich and democratic, and its values arecloser to those of the U.S. than those of anywhere else.2. Fill in each blank of the following sentences with one of the phrases in the listgiven below. Make changes when necessary.1) China will adhere to the principle of developing high technology and realizingindustrialization to step up the commercialization, industrialization and internationalization of scientific and technological achievements.2) In the recent crisis no banks could manage to bail out the companies in financialpressure.3) In terms of the information from the Universe he is apathetic and sometimesirritable, he is like an ostrich sticking his head in sand.4) It will be up to the board to decide if the CEO should be removed.5) All our hopes rest upon the arrival of the shipment.6) The plan has already been worked out, and could be put into operation at amoment's notice.7) The whole machinery of civilization will break down if this doctrine wins in thewar.8) His remarks hit home when he said that we did not work enough.9) Some analysts suspected that Toyota had pulled strings to stifle probes into itsauto quality problems.10) Mercy is reaching out to those who have nothing to give back to you.3. Match the terms in column A with the explanations in column B:A ____________________ B_____________________________________1)free market A) Effects on the behavior of individuals causedby observation of the actions of others and theirconsequences. 32) coalition government B) An economic turmoil where companies gobankrupt, people are laid off, and markets aresluggish. There is a lot of panic in bothbusiness and daily lives.93) demonstration effects C) A market in which there is no economicinterventionby the state, except to enforceprivate contracts and the ownership of property.14) health insurance D) A qualified retirement plan set up by acorporation, laborunion, government, orotherorganization for itsemployees. 6E) A form of collectivism by means of whichpeople collectivelypool their risk, in this casethe risk of incurringmedical expenses. 45) national interest F) The ability to obtain what one wants througheconomic or cultural means. It allows nations toexert their influence without using militarymeans or coercion. 86) pension scheme G) A fight or contention for territory, power,control, or resources between tow more partiesin a place or area.. 77) turf war H) Things of great importance to a nation,including itsgoals, visionsand ambitions inpolitical,economic,cultural fields,etc. and actions,circumstances,and decisions toachieve them. 5 8) soft power I) A cabinet of a parliamentary government inwhich severalparties cooperate. 29) economic crunch4. Translate the following into Chinese.有什么能让欧洲振奋起来吗？当然：如果欧洲领导人能像20年前那样抓住时机，欧盟就将繁荣昌盛。
商务英语王关富翻译
R。
的王关富《商务英语阅读》课文翻译鄙人从考研论坛中搜到的资料，跟大家共享一下，同时十分感谢考研论坛为研友提供的帮助~~~~（)高级商务英语阅读课文译文第1 课主课文译文新长征“中国制造”这个标记很久以前就不新鲜了，它贴在鞋子上、玩具上、服装上，以及为跨国公司制造的其他商品上，世界各地到处可见。
现在真正新鲜的是以中国品牌出售的中国制造的商品。
目前中国只有为数不多的几家公司拥有足够的财力和管理知识来打造国际名牌；其余的绝大多数公司还在为在国内获得知名度而努力奋斗着。
但是正在海外市场上试水的各大先锋公司，很有可能把事情做大。
一些人认为，在创业精神饱满的本地管理层的协助下，或者在一些想在其产品系列里添加新产品的外国公司的协助下，中国商品在极具竞争力的价格的基础上，若把卖点放在产品质量和异国情调上，那末10 年之内，中国品牌将一个一个地走向全球。
总部在香港的广告公司中国精信（Grey China）的执行董事陈一木丹（Viveca Chan）说：“如果世界上只有一个国家具备创立全球品牌的潜力，那么这个国家就是中国。
”短期之内，中国商品最有希望打入国际市场的当属中草药和特色食品，当然也包括那些体现中国浪漫并具有异国情调的产品，例如化妆品、时装和音乐作品。
中国总部设在上海的泰勒·娜尔森·索福瑞（Taylor Nelson Sofres）市场调研公司的中国区总经理Kevin Tan 说：“与中国相联系的神秘色彩还有许多。
化妆品是种靠形象推销的产品，假如你要做化妆品，你会一下子就发现，中国化妆品来头不小。
”努力走向世界的中国品牌还有一些领导时尚潮头的饮料和啤酒品牌，也包括家用电器等具有品牌潜力的产品，它们都能以竞争性的价格提供高品质的产品。
这些中国品牌中的一部分，最终将会通过合资、兼并和收购的途径走向国际市场。
而对于合资双方中的外国投资者来说，这些品牌则将成为他们更快地进入中国消费市场和销售渠道的载体，同时这些中国品牌也能进一步充实国外投资者在国际市场上已经确立的优质品牌的阵营。
Chapter 9王关富 商务英语阅读 译文【最新】
这些庞大的储备违背了经济学逻辑，因为这意味着自身理应充分拥有投资机会的穷国，正向富裕国家主要是美国提供低息贷款。这类贷款通过压低美国的长期利率从而促使其突然陷入危机中。如今，随着美国人多储蓄少消费，且正值全球需求扩大的情况下，他们表现得却更为节俭。
从理论上讲，其货币体制也正变得更具灵活性。其中，约40%由官方实行浮动汇率制，较15年前的不到20%相比有所上升。但是浮动大都受到严格管制。各国不愿意令其货币自由浮动。当资金涌入时，中央银行通过买入外汇来遏制货币升值。
他们这样做部分原因的是各国ZF不愿其汇率骤然飙升抑制出口。很多国家都担心其稳定性和速度，他们希望出口导向型的增长---估值偏低的货币来刺激出口。
只有中国解释了大量全球外汇储备增加的原因（见图表3）。其行为也影响了其他国家。许多其他新兴经济体，尤其是亚洲，不愿拿其货币竞争力冒险使币值升高太多。结果世界上许多经济增长强劲的国家实际上紧盯美元，创建了被称为“布雷顿森林体系2.0版”的协定。
History lessons历史教训
这种准美元标准和原版的布雷顿森林体系之间的相似性意味着如今的许多问题都有历史相似性。加利福利亚大学（伯克利分校）的巴瑞•艾森格林在即将出版的《超级特权》中探讨了这些相似性。该书论述了国际货币体系的前世今生。
正像20世纪90年代金融危机留下的创伤所造成的重大影响一样。外资外逃引起严重衰退。许多新兴经济体的ZF得出结论在经济全球化时代，安全在于积聚大量的储备。这一逻辑在2008年的危机中得到佐证，当中国或巴西等国拥有大量储备时，要比那些储备较少的国家经济运行的更好。即使韩国的资本准备金占GDP的25%，它还是须求助于美联储，来获取最高美元应急流动资金。
商务英语阅读(第二版)王关富unit13privateequity课后答案
Unit 13The Business of Making MoneyExercises1. Questions on the text:1)What are the latest developments in private equity in recent yearsCompared to the 1980s, the targets of today’s private equity groups are much bigger in size. In recent years, the private equity industry has raised record money and its share of mergers and acquisitions has grown massively. The industry has also become a byword for money-making skills but its wealth has also brought many enemies.2)According to the article, what are the main inconveniences for a company to bea publicly quoted companyThe main inconveniences for a publicly quoted company include: its executives have to face intrusive media coverage; it has to obey strict and long corporate-governance codes; it also has to face the threats of activist investors and short sellers and the scrutiny by some politicians.3)What are the main reasons for a company to get listed on a stockmarketTraditionally there are three main reasons to get a company’s share listed on a stockmarket. The first is to raise capital, either to expand the business or to allow the founders to realise their wealth. The second is to help retain staff, who can be offered share options as an incentive to stay and work hard. The third involves prestige; customers, suppliers and potential employees may be reassured (and attracted) by the apparent seal of approval given by a public listing. Meanwhile, being publicly listed gives a company better access to fund investors and retail investors.4)Why are companies in the Anglo-Saxon economies reluctant to borrow frombanksCompanies in the Anglo-Saxon economies were reluctant to borrow from banks because their often felt nervous about the possibility of the sudden withdrawal of credit from the banks, due to a change in lending policy, new management or an economic downturn.5)According to the article, what are the main sources for today’s companies toraise money (including equity capital and debt)Nowadays the main sources for companies to raise money are: first, equity market; second, banks, though much less important than they used to be; third, bond market; fourth, private equity.6)How do private-equity firms respond to the problems identified by ProfessorJensen with regard to public companiesProfessor Jensen argued that the structure of a public company creates an inherent conflict between investors and the managers they hire to run the business, particularly with regard to the use of free cash flow. He also arguedthat borrowing imposed discipline on executives. Private-equity firms have applied his argument in practice by gearing up the balance sheets of companies they buy with more debt than public firms are willing to accept. Though private equity firms, in the process, often have a bad reputation for relentlessly cutting unprofitable operations and shedding jobs, academic studies suggest that they create jobs rather than destroy them.7)What are the similarities and differences between today’s private-equity firmsand the conglomerates of the 1970s and 1980sSimilarities between today’s private-equity firms and the conglomerates of the 1970s and 1980s are: first, both of them use their financial power to construct diverse industrial empires; second, both claim that they could improve the companies they owned through superior management. The differences are: first, the conglomerates used highly rated shares to buy companies while private-equity firms use borrowed money; second, the conglomerates used to make ever-bigger acquisitions continuously to expand while private-equity firms claim to sell regularly their portfolio companies or business for profit.8)What make it impossible for the private-equity model to become the norm forcompaniesThere are several reasons: first, what might be logical for an individual company might not be best for the economy overall. If all companies were to substitute debt for equity on the scale that private-equity firms have, there would be an increase in the cost of debt. That would lead to lower equity returns; second, since private-equity firms need an exit route to sell their investments, a public market will be needed in the end for someone to realise their profit; third, a bigger role for private equity might make the economy more vulnerable because in a world where most companies carried private-equity-style debt levels, companies would be much more vulnerable and recessions might become much more frequent and consequently monetary policy would become more difficult, and even government revenues might be affected.9)According to the article, what factors have helped the development ofprivate-equity firms since 2003Those factors are: low interest rates, lots of liquidity and rising asset prices10)What are the signs showing that private-equity firms may now face the peak ofthe cycleThose signs are: first, bond yields have been rising, making takeovers more expensive; second, the high level of corporate profits suggests that it could be difficult for private-equity firms to wring more money out of these companies;third, the relentless campaign against private-equity tax privileges may lead to government actions against the interests of private-equity firms; last, more and more private-equity deals often leads to more competition and thus lower returns.2. Fill in each blank of the following sentences with one of the phrases in the list given below:1)The journey usually takes six weeks but you should allow for delays caused bybad weather.2) A popular bicycle rental scheme in Paris that has transformed travel in the cityhas run into problems just 18 months after its successful launch.3)China’s import as a proportion of total trade has substantially increased inrecent years as it’s been pursuing a more balanced trade.4) A growing pile of evidence shows that skimping on sleep promotes weight gain.5)Such a move would put the bank in danger of going bust.6)We have turned down four applicants already.7)When you're cooking, you should keep all the ingredients close at hand.8)She wrote to him in the belief that he would help her.9)Dr. Cong will continue to lead the company as its CEO and hold a stake in it forthree years.10)A lot of questions were being asked at the conference today and surprisingly theofficials answered them in spades.11)In the absence of outside leadership, we have created these guidelines in orderto respond timely and effectively.12)With the joining of South Africa, the Bric club of influential emerging economiesis now in pursuit of a common market among them.3. Match the terms in column A with the explanations in column B:A B1) corporate governance a) An investor who attempts to force a corporation tomake changes in management, board structure,investment policies, use of retained earnings, orother practices, often by introducing shareholderproposals or putting forward alternative directors.62) bridge financing b) An interest group that endeavors to influencepublic policy and especially governmentallegislation, regarding its particular concerns andpriorities. 83) trade union c) A privilege, sold by one party to another, thatgives the buyer the right, but not the obligation, tobuy or sell a stock at an agreed-upon price withinacertain period or on a specific date. 104) stakeholder d) A method of financing, used by companies beforetheir IPO, to obtain necessary cash for themaintenance of operations. 25) short seller e) The set of processes, customs, policies, laws, andinstitutions affecting the way a corporation (orcompany) is directed, administered or controlled.16) activist investor f) A n organization of workers that have bandedtogether to achieve common goals such as higherwages or better working conditions. 37) venture capital g) The process of buying an undervalued companywith the intent to sell off its assets for a profit. 9 8) pressure group h) An investor who sells a commodity, currency, orsecurity which he or she does not own at the timeof sale. 59) asset stripping i) Money provided by investors to startup firms andsmall businesses with perceived long-term growthpotential. 710) stock option j) Person, group, or organization that has direct orindirect stake in an organization because it canaffect or be affected by the organization's actions,objectives, and policies. 44.Translate the following into Chinese:出于几个原因，上市的前景对私募股权投资公司而言具有相当的吸引力。
王关富商务英语阅读(第二版)参考译文
第1课中国是今年唯一呈现出重大发展的主要经济体（economy），由于它通常是唯一敢于打破经济教科书中每一条例的经济体。
事实上，中国不像其他五大经济体那样发展缓慢的主要原因是，它宏观调控的能力（its capacity for macro-economic control）为什么中国市场经济体系奏效？（market economic system）目前，欧美等国正通过银行及汽车业国有化及金融业实施新的有力规定（regulations），走向宏观调控。
但问题更加紧迫（the question has a new urgency）。
中国看上去最能驾驭（navigate）七十年内最糟的经济滑坡（downturn）在危机中，中国官员既能吸取像西方同行（counterparts）的传统市场工具，也能吸取中国市场经济体系的积累经验（arsenal）。
去年早期，由于房地产市场（housing market）过热，中国官员仅命令银行削减房贷（cut back on housing loans），然后随着房屋销售量下降（fall），他们提供类似更低的房屋购置税（lower taxes on home purchases）。
最近几周，他们展开类似西方的经济救援行动（launch economic rescue efforts），其中包括价值6000亿的大计划以增加政府开支和大幅利率削减（ramp up government spending）（big interests cuts）。
但同时，他们也发布在西方国家眼里是不合理的干涉的命令，例如，上周中国官员召集包括钢铁建筑等行业的国有行业并购（buy up）国内外新资产（at home and abroad）以积极（actively）发挥在经济中的作用曾把中国宏观调控视为不成熟经济的弊病（immature economy），现在是稳定的保障（bulwark of stability）。
《商务英语阅读》第11单元译文
第11单元消费者管理行为的重要性本文介绍了消费者行为以及消费者行为对全世界企业生死攸关的作用。
世纪之交，理解消费者行为对于全世界企业的成功更加重要。
在本文中，我们定义了消费者行为的概念，确定了不同类型的消费者和消费角色，阐明了它们的领域。
本文也讨论了消费者行为对于企业目标实现的重要性。
并且讨论了如果企业采取以消费者为中心的战略，企业有哪些竞争优势。
消费者行为的概念消费者行为指那些能够导致支付、购买、使用商品和服务的决策行为的个人和企业消费者的心理、身体活动。
消费者行为的定义包括人们的各种活动和承担的不同角色。
图11—1阐释了消费者行为的不同方面，它们超出了营销人员对消费者行为的传统定义。
图11—1 消费者的类型、角色和行为消费者类型通常，消费者指对营销人员或厂商完成交易起一定作用的个人或组织。
企业消费者可能以家庭成员或公司代表的身份进行交易。
所以，我们说的消费者的定义包括了家庭和企业市场的消费者行为。
传统观点认为，消费者（consumer）仅仅指消费品市场，而产业市场的顾客叫做顾客（customer）。
在本文中，我们把两个市场的顾客都叫做“customer”。
实际上，教科书中比实际应用中更多地出现“consumer”这个词，其意指消费品市场。
例如，零售店把它们的老主顾叫做“顾客”,而不叫做“消费者”。
公共事业公司（煤气公司、电力公司以及电信公司）、金融机构（银行、信用卡发行公司等）、服务性质公司（草坪维修、缝纫、干洗等），甚至包括个人服务提供机构（如算命人、按摩师、从事打眼文身等服务的小店等）都是这样称呼。
个人服务提供机构是指把消费品市场的个人作为服务对象的机构（如律师事务所、房地产公司以及纳税顾问），或者从他们承担的具体角色来说（医生称其顾客为病人，教育者称其顾客为学生，募捐者称其顾客为募捐人等等）。
只有那些不与产品最终使用者打交道的那些生产商称其顾客为“消费者”（如宝洁公司、强生公司、卡夫食品公司、通用食品公司等将产品的最终使用者称为“消费者”）。
王关富商务英语阅读第二版参考译文分析解析
第1课中国是今年唯一呈现出重大发展的主要经济体（economy），由于它通常是唯一敢于打破经济教科书中每一条例的经济体。
事实上，中国不像其他五大经济体那样发展缓慢的主要原因是，它宏观调控的能力（its capacity for macro-economic control）为什么中国市场经济体系奏效？（market economic system）目前，欧美等国正通过银行及汽车业国有化及金融业实施新的有力规定（regulations），走向宏观调控。
但问题更加紧迫（the question has a new urgency）。
中国看上去最能驾驭（navigate）七十年内最糟的经济滑坡（downturn）在危机中，中国官员既能吸取像西方同行（counterparts）的传统市场工具，也能吸取中国市场经济体系的积累经验（arsenal）。
去年早期，由于房地产市场（housing market）过热，中国官员仅命令银行削减房贷（cut back on housing loans），然后随着房屋销售量下降（fall），他们提供类似更低的房屋购置税（lower taxes on home purchases）。
最近几周，他们展开类似西方的经济救援行动（launch economic rescue efforts），其中包括价值6000亿的大计划以增加政府开支和大幅利率削减（ramp up government spending）（big interests cuts）。
但同时，他们也发布在西方国家眼里是不合理的干涉的命令，例如，上周中国官员召集包括钢铁建筑等行业的国有行业并购（buy up）国内外新资产（at home and abroad）以积极（actively）发挥在经济中的作用曾把中国宏观调控视为不成熟经济的弊病（immature economy），现在是稳定的保障（bulwark of stability）。
chapter10王关富 商务英语阅读 译文.doc
第10 课主课文译文杰克.韦尔奇执掌通用电气之道有关韦尔奇的评介近年来有许多,大都介绍了他如何把一个老字号的美国产业巨人改造成一个具有强劲竞争力的全球增长型的发动机，如何精明地把一个老牌制造商带入了服务业，如何通过六百多项收购和有力打入了海外新兴市场完成了对通用电气公司的改造。
然而鲜为人知的是，杰克·韦尔奇是如何做到在这样一个全美业务最广、机构最庞杂的组织内，实施了如此之大的权力和影响。
许多公司经理不过领导、激励数十人而已，但他们忙得终日不可开交。
还有许多首席执行官掌管的公司规模远不及通用电气，他们倾心倾力，但还是业绩平平。
相比之下，通用电气拥有三千零四十亿美元资产，年销售额高达八百九十三点三亿美元，其二十七万六千员工分散在上百个国家；而身居这一企业帝国最高位的韦尔奇又是何以做到的呢？他做到这些完全靠他的人格魅力，靠他那追求商场取胜的奔放激情，还有他对具体细节的强烈关注，而许多总裁往往对具体细节视而不见。
他做到了这些是因为在他主持的公司年度规划会议上，鼓励一种近乎残酷的直率态度；他做到了这些，最主要的是他坚信公司员工的力量。
韦尔奇能够牢牢地掌握通用电气，是基于他对这个公司，对效力该公司的员工的非同一般的了解。
首先，在这些员工中有数千名他在哈德逊克劳顿校园授课时结识的“学员”，该校园被通用电气员工俗称为克劳顿村。
再有就是他的时间安排：他用多半的时间去关注“人”的问题。
但最重要的是，他在一个如此庞大的公司内完成了一项创新：不拘泥条条框框。
韦尔奇喜欢把通用电气称作“食品杂货店”。
这种比喻用于如此庞然大物上尽管十分离奇，却能让韦尔奇在观念上如同挽起袖口、穿上围裙，置身于食品店柜台后面一样。
正是置身于此位，韦尔奇能了解到他的每位员工，能服务于每一位顾客。
韦尔奇说：“无论是在食品杂货店、还是发动机或医疗系统部门，其重要的关注点都一样，如顾客是否满意，货物是否变质，货架是否摆放妥当，提供的货或服务是否对路。
商务翻译 Chapter 11
译文: 在承包商负责照管期间，倘如工程或其他 任何部分，或待用的材料或设备出现任何 损失或损坏，除第53.1.1条限定的风险情况 外，不论出于何种原因，承包商均应出资 弥补此类损失或损坏，以使永久工程在各 方面符合合同的规定，达到工程师满意的 程度。
If, before the Time for Completion of the whole of the Works or, if applicable, any Section, a Taking –Over Certificate（移交证书） has been issued for any part of the Works or of a Section, the liquidated damages for delay in completion of the remainder of the Works or of that Section shall, for any period of delay after the date stated in such Taking-Over Certificate, and in the absence of alternative provisions in the Contract, be reduced in the Proportion which the value of the Part so certified bears to the value for the whole of the Works or Section, as applicable.
•
Party A shall bear all expenses for advertising and publicity. 译文：甲方应承担所有广告和宣传费用的支出。
商务英语阅读(第二版) 王关富 Unit8 The decade of Steve 课后答案
Unit 8The decade of SteveExercises1.Answer the questions on the text.1)What makes the story of Steve Jobs so incredible and remarkable?So perseverant in his goals;Experiencing and overcoming so many difficulties and frustrations;Dominating in as many as four distinct industries;Running Apple so well------creatively, competitively, and profitably;Miraculously returning from his fatal diseases.2)What are the four markets that Steve Jobs reorganized and dominated?Music, movies, mobile telephones as well as computing.3)Why is he regarded as the rare businessman?Predilections unique to him.Distinctive design taste and elegant retail stores.Outside-the box approach to advertisingA showman, born salesman, and a magician.Legitimate worldwide celebrityAlways making products customers want to buy.Visionary but grounded in reality.Motivated not by money, but by a visceral ardor for Apple.4)What astounding achievements has Steve Jobs made up to date?Increasing corporate worth from $5 billion in 2000 to $170 billion now.Moving from cash drain and near bankruptcy to $34 billion in cash and market securities.275 retail stores in 9 countries with 73% share of US MP3 player market, and undisputed leadership in mobile phone innovation.His personal net worth about $5 billion.5)What was the first important success of Steve’s team?It created the first Macintosh (iMac), a breakthrough all-in-one computer and monitor. With drastic cost cutting and lucrative sales, it greatly improved the Apple’s balance sheet and financially got Apple well prepared for big investments and business leap.6)Why did Steve object to Ellison buy out Apple in 1997?Because he didn’t like people to second-guess the intention of his return (as making money) and wanted to take high moral ground so that he could easy and graceful decisions.7)Why did Steve build Apple-owned retail stores and some have doubts?Because through the building of retail stores, Steve could establish direct contact with customers, get to know what they really want, and fill the stores with allthose products.But some people at the time, even members of the board had great doubts about establishing retail stores. They are extremely nervous that the stores might become a risky cash drain.8)What are the outstanding qualities reflected from Jobs’integration ofmicromanagement with big-picture vision?# Micro-management:Consciousness/ dedication/ concentrationHe tries to know everything about Apple. He is involved in so many details that people can hardly believe. He is so detailed that he might tell an ad writer that the third word in the fourth paragraph wasn’t right.# Big-picture vision:Acumen for market changeHe recognized gorgeous design as differentiator for Apple.Creative, innovative and visionary in product developmentClients responded “Give me the next Steve Jobs”Knack for taking opportunities at the right momentHe made iTunes compatible with Windows and expanded Apple market to all PCs.He developed Apple’s own digital-music sales stores.9)How did Steve Jobs master the message?Carefully consider what he and Apple say and don’t say to the public.Rehearse time and again before speaking publicly.Authorize only a small number of executives to speak publicly.He is careful to avoid overexposure.Nobody is supposed to speak without the permission of Apple’s media relations team reporting directly Steve Jobs.10) How did Steve Jobs handle Apple’s stock options backdating scandal?He remained silent initially but later in the report to SEC he admitted and apologized for the change of option grant dates for employee benefits. He said it was totally inappropriate for Apple to do.11) Whom did Steve Jobs thank and why when he returned?He thanked Tim Cook (Apple’s chief operating officer) for excellent running of the company during his absence.He also thanked a twentysomething who died in a car crash for donating his liver.12) How do people feel about the future of Apple?Though some are worried about its future due to Steve’s health problem, most are confident about its future because:He is a fabulous brand and irreplaceable person.He has educated and influenced Apple employees well enough to think and behave like him.His influence has gone beyond Apple and become a hero for the IT industry.His pursuit for secrecy and surprise and proven brilliance will ensure greater successes for Apple in the future.2.Fill in each blank of the following sentences with one of the phrases in the listgiven below. Make changes when necessary.1)When the starlet was asked about her new boyfriend, she couldn’t help but gushabout him and their intimate plans for Valentine’s Day.2)The leaking of as many as 251,000 State Department documents, including secretembassy reports from around the world, is nothing short of a political meltdown for US foreign policy.3)With very critical views on the government economic policies, she often palsaround with those scholars who also take rather radical stance on economic issues.4)It is high time for everyone in the department to kick into full gear and fulfill oursales quota by the end of the year.5)The mother did whatever possible to prevent her son from hanging out with theguy who she thought was up to nothing good.6)Obama’s victory in the election was viewed by many as progress in the UnitedStates. But I think his ethnicity is beside the point.7)The neighbors said what happened was totally out of character for the womanthey knew as quiet and friendly.8)Unfortunately, the firm has not been able to pare) production cost to the level thatmatches its competitors in the market.9)On the back of strong corporate earnings reports from a number of firms last week,coupled with the improving unemployment rate, investor sentiment was bolstered on the first trading day of the week.10)The team is expected to take a vote tonight that could set in motion a new plan torevitalize the financial market.11)It was a long time before our business partners could catch on to what we reallyintended.12)As a shrewd man, he successfully pounced at the opportunity last year to becomethe marketing manager.3.Match the terms in column A with the definitions in column B:A______________________ B________________________________________ 1)market share A) A group of advisors, originally to a political candidate,for their expertise in particular fields, but now to anydecision makers, whether or not in politics. 62)cash drain B) The rate of new product development, which isgetting faster with more severe competition andfaster technological advancement. 103)shareholder wealth C) Percentage or proportion of the total availablemarket or market segment that a product orcompany takes. 14)net worth D) A group of executives employed to manage aproject, department, or company with theirparticular expertise or skills. 55)management team E) A person, project, business or company thatcontinues to consume large amounts of cash withno end in sight. 26)brain trust F) A person or firm that invests in a businessventure, providing capital for start-up orexpansion, and expecting a higher rate of returnthan that for traditional investments. 97)balance sheet G) The wealth shareholders get to accrue from theirownership of shares in a firm, which can beincreased by raising either share prices ordividend payments. 38)captains of industry H) A financial statement that summarizes acompany's assets, liabilities and shareholders'equity at a specific point in time. 79)Venture capitalist I) Total assets minus total liabilities, an importantdeterminant of the value of a company, primarilycomposed of all the money that has been investedand the retained earnings for the duration of itsoperation. 410)product cycle L) A business leader who is especially successfuland powerful and whose means of amassing apersonal fortune contributes substantially to thecountry in some way. 84.Translate the following passage into Chinese:头已秃顶，留着胡须的他坐在其超大的华盛顿办公室内谈论着经济话题，从眼神可看出显得疲劳。
王关富《商务英语阅读》(第二版)参考答案
王关富《商务英语阅读（第二版）》参考答案Unit 1Why China WorksExercises1. Answer the questions on the text:1) How does the author view the Chinese economy?It is the most important bright spot in the world economy under the global recession, the only major economy that is likely to show significant growth this year, and the only one that routinely breaks every rule in the economic textbook. 2) According to the author, why can the Chinese economy perform so well?Because of:(1) the capacity for state control by the Chinese government.(2) its rejection of exotic financial innovations that are the melting core of the global credit crisis.(3) the integration of its economic policies between traditional market tools and state control measures.3) In what way does the author imply that western economists are erroneous in their bias toward “China’s market economic system”?The United States and Europe are moving toward state control by nationalizing their banking and car industries, and imposing heavy new regulation on the financial industry.4) What is the view of Stephen Roach on the Chinese economy system?Investment is the backbone of sustainable growth in the Chinese economy, which works more effectively than other market based systems in times of economic stress.5) Why can China work in the eye of the author?It has followed a radical pragmatism focusing on a slow but steady shift toward freer markets.6) What is regarded as the strategic thinking of the Chinese leaders in market reforms?They understand even under the serious financial crisis that it can stabilize the Chinese market and economy to introduce more sophisticated forms of securitization, including stock index funds, corporate bonds and other debt products. They also realize that, in the course of doing this, they should learn from the mistakes the westerners have made.7) What is the example given to illustrate the steadiness of the Chinese leaders in their policy execution?They continue to allow the value of yuan to rise despite of the American charges and the need for export competitiveness by their own enterprises.8) What is “shock therapy”?It is the economic policy adopted in Russia from 1991 to 1992 that totally deregulated prices and lead to a runaway inflation. It proved to be all shock and no therapy.9) In what ways does the Chinese economic system work efficiently?It can get things done quickly, move in a coherent manner, and marshal its people and resources to a common target: economic growth and prosperity.11) What are the Internet and public opinion used for?For putting pressure on local officials and influencing policy decisions.2. Fill in each blank of the following sentences with one of the phrases in the list given below. Make changes when necessary.1)At a time when the need is growing for mental health services, many countries are unfortunately cutting back on itsspending.2)There is an increasing number of people out of work. But the western media often unfairly label them as lazy andreliable.3)Now that the flow of oil has been stopped by BP, the impact of all the spilled oil and natural gas is still beingmeasured.4)Once again its ability to steer economic policy will be tested against the ability to deliver on services and projectsaimed at growing the economy and jobs.5)Housing prices are incredibly high today. But he bought his house for a song about five years ago.6)As people are complaining high prices, especially those related to daily necessities, the government feels rather urgentto hold down inflation rate immediately.7)Under the new economy policy investors are invited to buy into state-owned enterprises.8)Since a serious gun shooting occurred in Arizona last week, security concerns have trickled down to all places,including residential buildings.9)Social unrest is a daily occurrence in the country nowadays. It is in the last place when it comes to investment formultinational companies.10)Efforts to ban smoking in China are so effective yet. Some chain smokers never think of quitting while many othershave battled in vain to quit.3. Match the terms in column A with the definitions in column B:A_______________________ B__________________________________1)financial innovation A) A reduction in the general availability of loans (orcredit) or a sudden tightening of the conditionsrequired to obtain a loan from the banks.72)stimulus package B) A non-bank entity or organization such asinvestment companies and mutual funds thatinvests in large quantities. 83)overheating C)A legal entity created by a government to undertakecommercial activities on its behalf. 64)stamp tax D) The trading of a corporation's stock or othersecurities (e.g. bonds or stock options) byindividuals with potential access to non-publicinformation.9E) An industry that requires large amounts of capital, machinery and equipment toproduce goods. 55)capital-intensive sector F) Generation of new and creative approaches tosecurities, money management or investing. 16)state-run firm G) An economy that is expanding so rapidly that toomuch money is chasing too few goods andeconomists fear a rise in inflation . 37)credit crisis H) tax levied on certain legal transactions such as thetransfer of a property such as building, copyright,land, patent, and securities. 48)institutional investor I) A plan or a series of measures taken by agovernment to jump-start its ailing economy,generally as a part of its fiscal policy. 210) insider trading4. Translate the following passage into Chinese.我们所面临的来自中国的真正挑战并不是他们向我们大量销售的货物，而恰恰相反，是他们正在提升的价值链。
高级商务英语阅读王关富
companies signed up to exhibit, including famous companies such as Huawei and Putian. Although
the June event was cancelled due to the SARS outbreak, the rise in Chinese participation is
evidence that more and more Chinese companies are realizing the importance of overseas
that watch live TV broadcasts of the games played by the Chinese basketball superstar.
Creating, communicating and managing brand image is a relatively new concept for Chinese
legislators to cap textile imports fromChina, using World Trade Organization (WTO) provisions in
force sinceChinajoined the WTO in 2001 and charging thatChinaunfairly undervalues its
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高级商务英语阅读
faith after the management shake-up: the company is trading again at a handsome $31 per share
王关富商务英语阅读第二版参考译文chapter10
U10The alchemists of finance金融魔法点石成金May 17th 2007From The Economist print edition（本文由ECO论坛dtchengxc翻译，原文版权归经济学人集团（The Economist Newspaper Limited）所有，译文版权归译者所有，未经授权，不得转载，谢谢合作！）漫画作者玛丽亚•吉夫斯（Maria Jeeves）Global investment banks are taking ever more risk, and are devising ever more sophisticated ways of spreading it, says Henry Tricks. Is that reassuring or worrying?亨利•特里克斯(Henry Tricks)说：“全球的投资银行正承受着越来越大的风险，也在设计着越来越复杂的分散风险的方法。
”这究竟是会让人放心还是让人担心？AT LEAST since 1823, when Byron's Don Juan described “Jew Rothschild, and his fellow Christian Baring” as the “true Lords of Europe”, investment bankers have inspired awe, envy and, rightly or wrongly, a measure of disdain. Exactly 100 years ago the undisputed patriarch of the modern industry, J. Pierpont Morgan, stemmed the Panic of 1907, a financial crisis caused by unregulated trusts (the hedge funds of their day). Acting, in effect, as lender of last resort from his Wall Street office, he was briefly feted before Americans realised the danger of having such power vested in one man. Cartoonists then mercilessly mocked him. After his death in 1913 the Federal Reserve was set up.不晚于1823年——那时拜伦（Byron）在《唐璜》（Don Juan）中将“犹太人罗思柴尔德（Rothschild）和他的同伙基督徒巴林（Baring）”称为“欧洲真正的主宰”，投资银行家们博得了敬畏、羡慕以及一定程度的蔑视——不管这正确与否。
商务英语阅读王关富答案
商务英语阅读王关富答案【篇一：商务英语阅读(第二版) 王关富 unit10 banking课后答案】>the alchemists of financeexercises1. questions on the text1) what’s the main difference between commercial banks and investmentbanks?in todays business environment, the main business of commercial banks is to collect deposits and make loans, while that of investment banks is to underwrite stocks and bonds and advise companies on mergers and acquisitions.2) why do investment banks try to keep quiet about their big profits?investment banks try to keep quiet about their big profits for two major reasons: first, they are under more scrutiny by regulators and investors; second, private equity and hedge funds have overtaken them in raising money and making excessive bets.3) what changes have taken place in the financial markets since the 1980s?the main changes since 1980s have been the rapid growth of financial instruments with unprecedented breadth, depth and richness, brought out by technology and innovation. examples of those financial instruments are public and private debt securities and derivatives.4) why do bankers and regulators worry about a possible collapse of aninvestment bank?they worry about a possible collapse of an investment bank because such an event will have serious implications for the whole financial system, and it is vital to know how such institutions evolve, how they handle risks and how well those risks are spread around the financial system.5) which three factors can explain the huge profit for investment banks?those factors are: first, the alchemists trick of turning debt (mostly leaden) into derivatives (mostly liquid); second, the emergence of a new class of leveraged client (hedge funds and private equity); third, seeking out new capital markets and clients around the world. meanwhile, in all these pursuits the banks are now using their own money, to differing degrees.6) what does the expression “the wild east” refer to?that expression refers to the new markets emerging in europe and asia. the introduction of the euro in 1999 and the rapid growth of economies in those regions have attracted investment banks.7) what makes london an impressive rival to new york as a global financialcenter?london has become an impressive rival to new york as a global financial center because: first, london trades a wide range of assets and is regulated on the spot; second, london is a hub for europe and continent european countries can raise capital there; third, london is also regarded as a springboard for emergingmarkets such as china and russia.8) how do investment banks manage the risks?investment banks try to find the most talented people to handle the intricate assets; they measure the correlations between different financial instruments in an attempt to spread risk; they invest hundreds of millions of dollars a year in technologies to measure and stress-test risks; they also try to boost their risk-weighted capital.9) according to the text, what’s t he relationship between revenue and risk infinance?the relationship between revenue and risk is fundamental in finance. risk-taking is awarded by possible high revenue. low risk often means less revenue. however, in order to gain more revenue, you need to take more risks. you should carefully calculate the risk and balance it against revenue beforehand, or you will pay a high price for foolish investment bet.10) which one is more important to the growth of the finance industry,innovation or regulation?based on the text, both innovation and regulation are vital to the healthy growth of the finance industry. without innovation, investors have fewer places to gain returns on their money and those seeking money would have much more difficulties in obtaining it. thus innovation boosts the rapid growth of finance industry and brings benefits to more people both in developed countries and developing countries. however, innovation without proper regulation, such as the securities that no one knows how to exactly measure their risk, could lead the growth of the finance industry to a disastrous end.2. fill in each blank of the following sentences with one of the phrases in the list given below:1) the government has taken many measures to2) employees are asked to3) regulators demand the monopoly company to smaller entities.4) it’s reported that china telecom plans to its network services unit in hk.5) the traffic had for miles because of the accident.6) according to those representatives, new forces are in the refiningindustry.7) we shall never know how she managed to acquire her promotion; there is no wayto8) a nationwide law aimed at stamping out passive smoking in public spaces inswitzerland on saturday.9) innovations will dramatic changes in this industrial sector.10) i would say that,3. match the terms in column a with the explanations in column b:1) liquidity crisis a) a bank that provides checking accounts,2) leveraged buy-out3) credit crunch4) over-the-counter securities5) initial public offering6) commercial bank7) stress test8) investment bank9) hedge fund10) risk management savings accounts, and money market accounts and that accepts time deposits. b) a company issues common stock or shares to the public for the first time. c) the situation in which a business experiences a lack of cash required to grow the business, pay for day-to-day operations, or meet its debt obligations when they are due, causing it to default. d) the acquisition of another company using a significant amount of borrowed money (bonds or loans) to meet the cost of acquisition. e) a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the clients agent in the issuance of securities. f) an aggressively managed portfolio of investments that uses advanced investment strategies such as leveraged, long, short and derivative positions in both domestic and international markets with the goal of generating high returns. g) a sharp increase in the interest rates and a strong decrease in allocated credits. h) a process that measures whether one institution has adequate capital and/or assetsto respond effectively to various, adverse scenarios usually presented by a computer program. i) securities traded in some context other than on a formal exchange such as the nyse, etc. j) the identification, assessment, andprioritization of risks followed by coordinatedand economical application of resources tominimize, monitor, and control the probabilityand/or impact of unfortunate events or tomaximize the realization of opportunities.4. translate the following into chinese：在去年信贷危机爆发的时候，联邦的监管者们向国内的各主要金融机构注入了数以百亿计美元，而他们这么做的原因在于这些银行是如此之大以至于官员们担心它们的破产将会拖垮整个金融体系。
商务英语阅读（第二版）王关富Unit13privateequity课后答案
商务英语阅读（第二版）王关富Unit13privateequity课后答案Unit 13The Business of Making MoneyExercises1. Questions on the text:1)What are the latest developments in private equity in recent years?Compared to the 1980s, the targets of today’s private equity groups are much bigger in size. In recent years, the private equity industry has raised record money and its share of mergers and acquisitions has grown massively. The industry has also become a byword for money-making skills but its wealth has also brought many enemies.2)According to the article, what are the main inconveniences for a company tobe a publicly quoted company?The main inconveniences for a publicly quoted company include: its executives have to face intrusive media coverage; it has to obey strict and long corporate-governance codes; it also has to face the threats of activist investors and short sellers and the scrutiny by some politicians.3)What are the main reasons for a company to get listed ona stockmarket?Traditionally there are three main reasons to get a company’s share listed on a stockmarket. The first is to raise capital, either to expand the business or to allow the founders to realise their wealth. The second is to help retain staff, who can be offered share options as an incentive to stay and work hard. Thethird involves prestige; customers, suppliers and potential employees may be reassured (and attracted) by the apparent seal of approval given by a public listing. Meanwhile, being publicly listed gives a company better access to fund investors and retail investors.4)Why are companies in the Anglo-Saxon economies reluctant to borrow frombanks?Companies in the Anglo-Saxon economies were reluctant to borrow from banks because their often felt nervous about the possibility of the sudden withdrawal of credit from the banks, due to a change in lending policy, new management or an economic downturn.5)According to the article, what are the main sources for today’s compan ies toraise money (including equity capital and debt)?Nowadays the main sources for companies to raise money are: first, equity market; second, banks, though much less important than they used to be; third, bond market; fourth, private equity.6)How do private-equity firms respond to the problems identified by ProfessorJensen with regard to public companies?Professor Jensen argued that the structure of a public company creates an inherent conflict between investors and the managers they hire to run the business, particularly with regard to the use of free cash flow. He also argued thatborrowing imposed discipline on executives. Private-equity firms have applied his argument in practice by gearing up the balance sheets of companies they buy with more debt thanpublic firms are willing to accept. Though private equity firms, in the process, often have a bad reputation for relentlessly cutting unprofitable operations and shedding jobs, academic studies suggest that they create jobs rather than destroy them.7)What are the similarities and differences between today’s private-equityfirms and the conglomerates of the 1970s and 1980s？Similarities between today’s private-equity firms and the conglomerates of the 1970s and 1980s are: first, both of them use their financial power to construct diverse industrial empires; second, both claim that they could improve the companies they owned through superior management. The differences are: first, the conglomerates used highly rated shares to buy companies while private-equity firms use borrowed money; second, the conglomerates used to make ever-bigger acquisitions continuously to expand while private-equity firms claim to sell regularly their portfolio companies or business for profit.8)What make it impossible for the private-equity model to become the normfor companies?There are several reasons: first, what might be logical for an individual company might not be best for the economy overall. If all companies were to substitute debt for equity on the scale that private-equity firms have, there would be an increase in the cost of debt. That would lead to lower equity returns; second, since private-equity firms need an exit route to sell their investments, a public market will be needed in the end for someone to realise their profit; third, a bigger role for private equity might make the economy more vulnerable because in a world where most companies carried private-equity-style debtlevels, companies would be much more vulnerable and recessions might become much more frequent and consequently monetary policy would become more difficult, and even government revenues might be affected.9)According to the article, what factors have helped the development ofprivate-equity firms since 2003?Those factors are: low interest rates, lots of liquidity and rising asset prices10)What are the signs showing that private-equity firms may now face the peakof the cycle？Those signs are: first, bond yields have been rising, making takeovers more expensive; second, the high level of corporate profits suggests that it could be difficult for private-equity firms to wring more money out of these companies;third, the relentless campaign against private-equity tax privileges may lead to government actions against the interests of private-equity firms; last, more and more private-equity deals often leads to more competition and thus lower returns.2. Fill in each blank of the following sentences with one of the phrases in the list given below:1)The journey usually takes six weeks but you should allow for delays caused bybad weather.2) A popular bicycle rental scheme in Paris that has transformed travel in the cityhas run into problems just 18 months after its successful launch.3)China’s import as a proportion of total trade hassubstantially increased in recentyears as it’s been pursuing a more balanced trade.4) A growing pile of evidence shows that skimping on sleep promotes weight gain.5)Such a move would put the bank in danger of going bust.6)We have turned down four applicants already.7)When you're cooking, you should keep all the ingredients close at hand.8)She wrote to him in the belief that he would help her.9)Dr. Cong will continue to lead the company as its CEO and hold a stake in it forthree years.10)A lot of questions were being asked at the conference today and surprisingly theofficials answered them in spades.11)In the absence of outside leadership, we have created these guidelines in order torespond timely and effectively.12)With the joining of South Africa, the Bric club of influential emerging economiesis now in pursuit of a common market among them.3. Match the terms in column A with the explanations in column B:A B1) corporate governance a) An investor who attempts to force a corporation tomake changes in management, board structure,investment policies, use of retained earnings, orother practices, often by introducing shareholderproposals or putting forward alternative directors.62) bridge financing b) An interest group that endeavors to influencepublic policy and especially governmentallegislation, regarding its particular concerns andpriorities. 83) trade union c) A privilege, sold by one party to another, thatgives the buyer the right, but not the obligation, tobuy or sell a stock at an agreed-upon price within acertain period or on a specific date. 104) stakeholder d) A method of financing, used by companies beforetheir IPO, to obtain necessary cash for themaintenance of operations. 25) short seller e) The set of processes, customs, policies, laws, andinstitutions affecting the way a corporation (orcompany) is directed, administered or controlled. 1 6) activist investor f) A n organization of workers that have banded together to achieve common goals such as higherwages or better working conditions. 37) venture capital g) The process of buying an undervalued companywith the intent to sell off its assets for a profit. 9 8) pressure group h) An investor who sells a commodity, currency, or security which he or she does not own at the timeof sale. 59) asset stripping i) Money provided by investors to startup firms andsmall businesses with perceived long-term growthpotential. 710) stock option j) Person, group, or organization that has direct orindirect stake in an organization because it canaffect or be affected by the organization's actions,objectives, and policies. 44.Translate the following into Chinese:出于几个原因，上市的前景对私募股权投资公司而言具有相当的吸引力。
商务英语阅读 unit 11 人际关系
We are in the 21st Century and here the life is very busy. “We don’t have time” that is what we say to others. We all carry mobile phones all the time, walking, eating, working, traveling even also at the time of sleeping, but we don’t have time to send a message or give a call to our parents or relatives. In this era, it is impossible to think about a life without Internet but now it is a need. We have Internet in office. We have Internet at home, but we don’t find even few minutes in a day to write few words for our friends. We never forget to read newspaper or watch television to keep ourselves updated with the latest news, but we hardly get time to know as what is happening in our colony or in our family. We have time to go to Movie Theaters, Picnics, Shopping malls but we don’t have time to visit our kids in their school or college and enquire about their performance. If we don’t have time, then of course, they will be arrogant, ill mannered and will behave impolitely.
王关富商务英语高级翻译
Supplementary Exercises forChapter 1 The Long MarchI.Questions on the text:1.Based on the facts and opinions given in the article, try to list what Chineseproducts that are most likely selling best in foreign markets.2.Why are these products sold well in overseas markets? Please specifypossible reasons as specified in the text.3.Based on the facts and opinions given in the essay, specify the major featuresof Chinese products that appeal to overseas markets.4.Do you think it is possible for Chinese products to go global in the nearfuture? Give your justifications.5.If you do, specify your suggestions on how to successfully market Chineseproducts overseas.6.What are the existing problems that block Chinese enterprises from goingglobal now?II.Read the following text and choose the best sentence from A to F below to fill in each of the gaps in the text:China is the world’s largest shoemaker and exporter. But it must step out of its reputation as a cheap shoemaker. To achieve that goal, Chinese shoemakers should enhance their shoemaking technologies, improve their brands and begin exporting to more regions.More than two-thirds of the 6 billion pairs of shoes produced last year in China were exported. Export volumes of Chinese-made shoes exceeded US $10 billion.1)________ Leather shoes sold for US$ 5.50 per pair.Low-grade shoes account for most of China’s exports of shoes. Prices ofChinese-made shoes are lower than those manufactured in Brazil, South Korea and Thailand. Chinese-made shoes tend to cost less than shoes manufactured by rising exporters such as Viet Nam.2)________ Chinese shoemakers produce a combined 12 billion pairs of shoes per year, and oversupplies have left China’s shoemakers heavily reliant on shoe dealers who often choose account sales to reduce risks. Many retailers and wholesalers fail to pay shoemakers within a reasonable time.But most domestic producers have failed to improve quality and upgrade their designs to increase competitiveness. Rather, they have begun focusing on the export market, where payments for their goods are generally ensured. 3)________Most Chinese shoemakers, because they are small, do not invest to improve quality and/or upgrade designs. As a result, Chinese shoes are running towards international markets. China has few large shoe manufacturers. Most export US$ 100,000 worth of shoes per year. These small shoe exporters commonly adopt low-price strategies, which result in decreased export prices of their shoes. Overproduction and the debut of numerous small shoe exporters exacerbated the situation.In addition, China’s shoemakers have long neglected research, development and design. 4)________ Chinese shoemakers also lack necessary information about international markets. Their technologies also lag behind those of their international counterparts.As a result, Chinese shoemakers and exporters have lingered in the low-end shoe market. Unable to open new markets, they become used to concentrating on markets filled by other Chinese shoemakers. 5)________ Meanwhile, other markets, such as South America, Russia and Africa, have been neglected by China’s shoe manufacturers.Given that situation, Chinese shoemakers should improve their production and sharpen their brand images to shed their reputations makers of cheap shoes. Domestically, pushed by some successful private shoemakers, China’s shoemaking industry has been restructured. Numerous small shoemakers have been merged and/or acquired by leading producers. Industry associations, especially the China Association of Leather Industry, are pushing shoemakers to create their own famous brands. According to the association’s development plan, China’s shoemaking industry will need 10 to 15 years to build and solidify its reputation for producing high-quality shoes. 6)________With the country’s long tradition of shoemaking, efficient industry reorganization, and government information and financial support, China will maintain its status as the world’s largest shoemaker, and will become a strong shoemaker in international markets.A.Also, shoemakers receive tax breaks on their exports.B.However, the average price of each pair of shoes China exported was US$ 2.40.C.Overproduction is the main reason for the lower prices of Chinese shoes in theinternational market.D.Such overseas markets as Japan and the United States, have become saturatedwith Chinese shoes.E.The association plans to develop by 2010 three to five famous Chinese brands ininternational shoe markets.F.They have for years received orders to produce existing styles or to copy others’designs.III.E-C Translation:1.In the short-term, the strongest promise is in Chinese medicine, herbs andspecialty food, as well as goods that play to the romantic foreignness ofChina -- whether in cosmetics, fashion or music.2.Besides bringing in additional revenue, a global brand also burnishes acompany’s image in China, stimulating sales among status-conscious domestic consumers.3.Chinese brands under the wings of foreign companies usually have theadvantage of plumper marketing budgets and better access to managementexpertise.4.The world economy was beset by heightened geopolitical uncertainties in late2002 and early 2003. Such factors continue to pose a downside risk to globaleconomic growth, but this risk diminished substantially in the second quarterof 2003. A new non-economic shock — severe acute respiratory syndrome(SARS) — jolted economic activity in some countries in early 2003 butappears to have been largely contained.IV.Key to Exercises:1. Exercise II:1) B; 2) C; 3) A 4) F; 5) D; 6) E2. Exercise III:1. 中国商品中走向国际市场的把握最大的，短期之内当推中药、草药和特色食品，还有能够体现中国浪漫而具异国情调的产品，例如化妆品、时装、音乐作品。
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第11课最近，我刚刚结束了魁北克五日之行，那是一座位于圣劳伦斯河畔古色古香、风景如画的小镇，今后，它将以“世界催泪瓦斯之都”载入史册。
我此行的目的是为了打入反全球化、反自由贸易运动的头脑人物内部，但问题是，那里根本没有“头脑”可寻。
我所看到的只是心绪的漫天宣泄，我面前是一派悲天悯人的景象。
显而易见，这里的稀缺之物是清醒的思考。
我来魁北克有个堂而皇之的理由，那便是采访美洲高峰会，这是一次跨越西半球三十四位国家首脑的聚会，会议最重要的议题是通过谈判，努力建立起美洲自由贸易区–一个地域跨越阿拉斯加至阿根廷的无贸易壁垒区域。
其实，我来魁北克是为了“人民的峰会”，那才是真正的亮点。
这一应运而生、有组织的活动看起来是要反映“人民的观点”，还会是别的吗？（我曾想，那些参加峰会、经选举产生的领导人是为此目的而来，但我有什么资格向“那些人民”提出质疑呢？）半球社会联盟由不同的社会团体组成，他们有着共同的思想意识和经济利益，他们共同反对贸易自由化。
该联盟这次邀请参加“反资本主义狂欢节”的都是激进团体，从极左到更极左，“狂欢节”在沿河畔搭建的硕大白色帐篷内举行。
加拿大政府好事做过了头，不仅资助了这项活动（其实是加拿大纳税人提供的资助），而且还为拉丁美洲的激进分子付费参加活动。
“反资本主义狂欢节”丝毫无愧于它的名称，有小丑、木偶表演、拉拉队长的呐喊、舞者和演员的表演，还有“愤怒的奶奶们”（一群不算太老辱骂大公司的妇女），甚至还有一个悬在空中、上面写着“实施安全贸易！”的巨大绿色安全套。
或许我最喜欢的是那些身着蓝色服装、面对由纸浆制成的女水神像歌唱并参拜的演员们。
除了此道风景，别无其他实质性内容，无论是在街面上，还是在各类有组织的“讲道论坛”中，情况均如此。
看一看下面的对话，这是我同一个保养得极好的年轻激进分子之间的谈话（当然喽，此人穿的是进口的牛崽裤和运动鞋）。
她向我挥动着拳头，肌肉松弛，毫无力量。
她的一位同志把我们之间的对话用一架日本摄象机拍了下来，摄象机的价值起码要比拉丁美洲人一年的平均工资还要多。
“人民高于利润！”她叫喊着，离我的脸只有数寸之遥。
“好吧，你说得还不错，”我一边说，一边向后退了一步，“那到底是什么意思？”“意思就是要提高人民的地位，人民高于利润。
”“好，这一点我明白了，但你具体指什么？你们有没有政策？其含义是什么？”“我们需要政策，”她回答着我的问题，也被激怒了，“我们的政策是人民的利益优先公司利润。
”谈话就这样进行着。
如果她思想更深刻一些，我也不会故意戏弄她。
毫无疑问，“人民高于利润法案”已近在咫尺，它的出台只是个时间早晚问题。
真该有人早点儿想到这一点！另一方面，如果利润真的是衡量企业家扣除成本之外所创造财富的尺度，生活在无利润的社会里或许对人民根本没有什么好处。
尽管这里很无聊，我还是认认真真地、想方设法去理解人民峰会参加者的想法。
我采访了几十个人，重点是身上穿孔少于十个的那些人。
在具有加拿大风格的市政厅会议上，与会抗议者对我“盘问”了将近两个小时——当然这并不意味着他们对我的观点有什么兴趣。
我阅读了所有能够找到的关于反对贸易自由化的材料，但从头至尾，见不到一例合乎逻辑的反自由贸易申诉，姑且不谈它是否有道理。
几乎没有人愿意下任何工夫去了解一下有关供求关系最基本的原则，而所有人却都在声称，自己对世界经济的最佳运作有着不容置疑的组织能力。
高峰会在拖延，我受挫的感觉也愈加强烈。
时间单调乏味，一小时一小时过去，我站在阳光下，听着身披花色丝质大手帕的青少年大声抱怨，他们在谈论自己如何有资格属于环绕市中心 2.5 英里安全带的另一边，在那里美洲高峰会的代表正在开会。
他们想要，不，是有资格，坐在那边的谈判桌旁。
一个不到二十岁的自由贸易讨伐战士告诉我，如果拉丁美洲过群居打猎的生活，那么人们会更加富裕，因为“群居打猎者每天吃的都很好”。
一位服装厂的工会成员，其工作大概仅仅是禁止人们购买洪都拉斯生产的衬衫，表情严肃地举着一块标语牌，上面写着“自由贸易等同公司财富。
”如果此话当真那就奇怪了，为什么如此众多的企业，如纺织厂和炼钢厂，死抱住关税和补贴不放呢！这样的言论在世界上任何大学的经济学系里都会成为笑柄。
正如太平洋孤岛上与世隔绝的狂热日本兵那样，魁北克街上的人们并没有意识到这样的事实：有关贸易产生何种影响的论战已经结束，主张自由贸易的一方已经获得胜利。
数以百计的研究成果、甚至是粗略的观察均向人们显示，哪里有市场的扩展，哪里就有苦难的缓解。
那些敞开国门、参与国际贸易与投资的国家与那些封闭自己、不参与全球经济的国家相比，其发展速度更加迅猛，根据经济合作与发展组织的保守估算，前者的发展速度为后者的两倍以上。
不仅如此，贸易创造出的财富使不同收入阶层人们的生活水平得到全面提高。
自从二十年前发展中国家开始开放市场以来，数以千万计的人口摆脱了一贫如洗的生活状况——前无古人的丰功伟绩。
然而，抗议者们对此视而不见，却宁愿与天下的劳苦大众为敌，试图剥夺贫穷国家赖以发展的手段，侈谈什么资本主义和自由贸易导致了贫穷。
这种无知无异于犯罪。
带给欧洲的教训反自由贸易左派的荒唐之举损害了以国际谈判实现自由贸易的尝试与努力，这些激进分子提出的批评几乎无任何实质内容，他们不断在国际会议召开之时抗议示威，这是对老式保护主义者的包庇行为，而老式保护主义者所期望的是，全球货物与资本流动受到更加严格的限制。
美国和加拿大两国仅仅通过加强国际会议安全措施处理这一问题，但是，最终所需要的解决办法将是完全彻底的变革。
抗议人群中流行着这样的观点，全球化主要是由国际机构促成的一种近期现象，其前身关贸总协定在消除贸易壁垒方面数年来也起到过推波助澜的作用。
实际上，国际组织的影响力显然是有限的。
使世界经济得以扩展的大事件均发生在贸易谈判领域之外，如中国的改革、苏联帝国的崩溃以及许多第三世界国家对“进口替代”发展模式的放弃。
80 年代中期以来，有六十多个发展中国家已单方面降低了对进口及引进外资的限制，更多的国家蜂拥而至，希望加入世贸组织。
如今，世贸组织成员国当中有四分之三以上为发展中国家，还有二十个急切想加入的发展中国家。
简而言之，自由贸易不是自上而下强加的，而是自下而上兴起的。
全球经济自由化趋势的出现是保护主义及国家控制发展战略惨痛失败的直接产物，今天，这一趋势仍在发展的原因也在于此。
换言之，即使美洲自由贸易区和世贸组织归于失败，经济自由化的进程仍将继续。
由于这些国际组织的失败只能使全球范围内经济自由化步伐趋于减缓，因此充其量也只能使发展中国家遭受一些挫折。
近期反贸易、反资本主义抗议活动的泛滥，应促使自由贸易人士对其推进市场开放战略重新进行评估。
转移与让步数十年来，贸易自由化（自由贸易）通过奉行“转移与让步”政策得以实现：回避开放国内市场的话题，强调出口及对外政策，用“公平贸易”政策安抚贸易保护主义者，使政治上有根基的企业参与国际竞争。
这一战略长期以来颇为凑效，使世界市场逐步得到开放。
然而，转移与让步的成功取决于若干因素，而这些因素已不复存在。
别的不说，冷战已经结束，贸易自由化已不能作为巩固北大西洋联盟的工具四处兜售。
同时，全球化的扩展意味着贸易已不是某个国家的内部游戏，国际经济问题牵动着公众的情绪，已成为路人关心的问题。
在新的环境下，转移与让步策略已不能有效地推进自由贸易的发展，的确，它已成为一种导致自我失败的主张（走向了自己的反面）。
主张经济开放者未能向重商主义思想以及公平贸易的错误观念直接提出挑战—没有能够讲明真正意义上的自由开放贸易—因而助长了公众的疑虑，认为有关对自由贸易的批评也有合理的一面。
在具有社会主义倾向的欧洲，情况尤为如此，欧洲人常认为全球化的出现是美国施加影响的结果。
为自由市场而战的前沿阵地必须从国际会议转向欧洲本土，自由贸易不应作为开放国外市场的手段加以兜售，而应成为欧洲的最佳政策，无需考虑别的国家采取何种行动。
现在是欧洲的自由贸易人士认真考虑单边贸易开放的时候了。
首先，贸易谈判只强调开放别国市场的好处，这是重商主义观念，应予以扬弃。
的确，按照此类谈判的说法，开放本国市场是一种“让步”，是一种换取贸易伙伴做出相应让步不得已而为之的行为。
然而，自亚当·斯密以来的经济学家均指出，作为让步去开放国外市场的观念恰好与客观事实背道而驰：贸易的真正益处是进口，而其必要的成本是出口。
无论别的国家怎样做，一个国家从开放本国市场当中获得利益。
不幸的是，客观事实并没有向日益惧怕全球化的公众充分地解释清楚。
自由贸易人士远远没有理直气壮地宣传开放市场的意义，他们在把所有精力集中在打开外国市场的同时，将贸易壁垒视作自身的资本，其所作所为使保护主义者正中下怀。
看来，维护进口的清白已刻不容缓。
抛弃共同农业政策自由贸易人士再也不能对自己本土极其恶劣的贸易壁垒听之任之了。
在欧洲，这显然意味着要迎头痛击共同农业政策。
以反倾销税为名掩盖保护主义的行为一定要暴光，那些政治上有根基的工业，如钢铁工业和纺织工业，一定不能继续得宠，也不能利用指定配额和关税与他们疏通关系。
为了实现上述目标，计划的制定要包括将那些以进口促出口的企业——即欧盟国家中与受保护产业相比具有明显优势的经济部门——组织起来，建立起自由贸易联盟。
此种战略在美国已开始凑效，例如，美国的汽车生产厂家与其他使用钢铁的产业已开始同美国国内的钢铁生产商进行斗争，因为钢铁生产商试图将业已受到保护的美国市场进一步关闭。
许多自由贸易的支持者反对单边贸易开放，指出虽然开放国内市场很重要，但是所有市场同时开放则更可取。
那样固然更可取，但贸易谈判并不能迫使任何国家放弃贸易壁垒，这同样也是事实，一国的开放只有在其国内的政治气氛合适时才可行。
自由贸易带给人们好处，贸易协定可能是“锁定”这些好处的一种有效办法，但从来不是推动自由贸易发展的中坚力量。
的确如此，发展中国家之所以信奉自由贸易是因为他们看到了自由贸易带来的好处。
对于欧洲来说，打开国外市场最有效的方法是以身作则，开放自己的市场。
即使是最坚定的多边主义者对都会同意这样的观点，在一个贸易协定受到广泛制约（监督）的世界里，对公众进行宣传教育、讲明开放国内市场的好处，应是当前的首要任务。
另一种促进自由贸易的方法是对世贸组织的争端解决程序进行改革，特别要强调更多依靠“补偿”的手段，对违反贸易承诺的国家实施判决。
目前，原告国家更倾向求助于制裁手段，美国目前与欧盟之间臭名昭著的牛肉和香蕉争端既属此类行为。
运用高关税对违约国出口商进行制裁，从而使其减少贸易壁的想法只能导致损害双方国家消费者的结果。
的确，应该要求世贸组织中的败诉方，以在其他领域里减少贸易壁垒的方式，对其违反世贸原则的保护主义行为做出补偿。
这样的补偿将会鼓励大家遵守各自的贸易承诺，引导大家朝着正确的方向–开放市场的方向前进。