外刊经贸知识选读2014年4月真题试题及答案解析（00096）

America usually adopts protectionism only when its economy slows.

In matters relating to the environment, the United Nations Conference on Environment and Development, held in June 1992 in Rio de Janeiro, produced an “Earth Charter,” or declaration of basic principles for the conduct of nations and peoples with respect to environment and development; agreements on special legal measures, including conventions on climate change and biodiversity, and principles for a framework agreement on forests; and an agenda for action, establishing the environmental work program agreed by the international community for the period beyond 1992 and into the 21th century.

Freer trade requires both political and business support.

According to the author, the biggest beneficiaries would be consumers in the United States.

Protectionist has been increasing not only in the United States but also in other countries.

Passage 2

America’s trade deficit has rocketed to a record high, provoking squeals from companies and politicians alike. There is even talk among officials of reviving the unilateral battering ram(杀手锏) known as “Super 301”, the cause of much trade friction in the past. Since protectionism is on the up even in an American boom, the rest of the world could be in for a mauling(伤害) when that economy eventually slows. Other countries are also becoming more protectionist. Following the American lead, European and Canadian steel makers have launched a barrage of “anti-dumping” cases against imports they deem too cheap. Anti-dumping suits are also proliferating in Asia and Latin America. Brazil, Russia and China have all recently tightened their import controls.What can be done to limit the damage? For a start, rather than undermining the WTO, America and Europe should collaborate to improve its working. They should also keep their markets open to imports. Do not look on this as an act of charity. True, trade world help drag Asia and Latin America out of dumps, but the biggest beneficiaries would be American and European consumers—and, loath(勉强的) though the unions are to believe it, jobs on both continents, To argue this takes political backbone, which has been lacking in America and Europe of late. All the more reason for America and Europe to support a new round of trade-liberalization talks at the WTO.

America’s deficit has been controlled to a record low.

Heavy debt burden has greatly blocked economy growth of the developing countries.

The passage mainly tells about the ways to help developing countries repay their debts without affecting their economy.

Debt problems are especially severe in Africa.

In some developing countries half of the export revenue is used to service the debt.

Passage 1

By 1991 the level of foreign indebtedness has drastically altered the role that many developing countries play in the world trading system. Imports had been severely cut back and there was evidence of a scramble to export additional products, such as timber(木材), at heavy cost to the environment. Debt had emerged as the biggest single obstacle to development, with about 50 developing countries carrying a severe debt burden, over half of them in Africa.At the end of 1990, developing countries owed $1,280 billion to Western countries, international aid agencies, the IMF, and banks. Their yearly earnings from international trade were under $1,000 billion; the overall debt of developing countries was therefore more than the value of their exports. To service that debt—to pay interest and repay part of the capital—cost developing countries $143. 5 billion in 1990. They received $85 billion in aid and investment from abroad, thus paying richer countries nearly $60 billion more than they receive D. New aids and investment was wiped out by past debt. In 1991, according to OCED figures, the severely indebted low-income countries paid a higher proportion of their export revenue on debt service than at any time during the 1980s—31. 3% of such revenues, compared with 23. 8% in the 1980s.

Developing countries export timber in order to pay the debt.

insolvency

Passage 1

China’s cautious approach to foreign borrowing is to be maintained, at least for the time being. The debt problems confronting a number of developing countries have reinforced China’s determination to introduce foreign technology by means of direct investment and concessionary finance rather than by raising substantial sums of money on the international capital markets. Foreign investment is advantageous insofar as it facilitates the transfer of technology and skills and avoids creating an overhang of debt. The authorities do not consider it appropriate to incur large amounts of external debt until a number of practical bottlenecks in the economy, such as an inadequate transport network and energy constraints, have been tackled. China’s access to substantial sums of money from the World Bank also reduces the need to borrow on commercial terms.

36、Why did China refuse to borrow more until her transport capacity and energy supply have further increased?

37、What does “borrow on commercial terms” imply here?

38、Why does China prefer loans from the World Bank?

Passage 2

Major investment is going into the Dubai-based Emirates airline, which added four new destinations last summer—Rome, Zurich, Paris and Jakarta—and on 14 April started operations to Dhahran, its 31st destination. Emirates now employs almost 3,500 staff, making it one of Dubai’s largest employers.Soon, $2,000 million in financing will have to be arranged for the next phase of development, which will cover deliveries from 1996 to 2000. Firm orders have been placed for seven Boeing 777s with Rolls Royce engines and there is an option on a further seven.

39、What is meant by “Dubai-based”?

40、What does the underlined word “Emirates” stand for here?

41、What does “which” represent in the second paragraph?

government procurement

infrastructure

stock exchange

registered capital

joint venture

the General Agreement on Tariffs and Trade

manufactured goods

franchise

managed trade

贴现率

自由贸易区

国际清算银行

双重税

对等贸易

贸易顺差

推销商品

反通货膨胀政策

国际收支

证券及房地产市场

According to trade sources, futures activity of rubber remains at a virtual (standstill).

Another government firm took (title) to the vehicles and sold them to a local distributor.

The U. S. recently announced an export enhancement program to (facilitate) its sale of eggs to HK.

The oil price increases sent global economy into deep (recession).

Disputes over farm trade have (bedeviled) the current round of GATT talks.

Fearful that it will lose its (edge), Japan has fought to prevent the Korean from using its technologies.

The single market made its (debut) just as Europe traversed one of its roughest economic storm in year.

China’s average (tariff) level has dropped to 9. 9 percent in 2005 as the country is earnestly fulfilling its commitments to the WTO.

The (underpinnings) of Mr. Kantor’s decision were plainly found in Mr. Klinton’s trade speech.

The volume of (merchandise) exports of developing countries declined by 2% last year.

The northeast used to be a (moribund) center of state industry in China.

A (uniform) income-tax rate is applied for every factory or business established in the SEZs.

China has the most (dynamic) economy in the world today.

Our (leading) export markets within the European Community are Germany and the United Kingdom.

Assembly manufacturing can be (eligible) for exemption from customs duties and taxation.