Passage 1

As the world’s largest trading nation, its largest exporter and second largest importer, China wields extensive influence on global trade and the world economy. China’s advantages of course lie not only in the stable foreign trade policy decided by the recently held Central Economic Work Conference, but also in the strength and resilience of a broad-based and fast-growing economy.The country’s primary advantage comes from its stable macro-economy. The Chinese economy has generally realized a soft landing following a period of extremely rapid economic growth. While China did confront severe inflationary pressures in 2011, as well as a brief drop in the value of the renminbi exchange rate, China’s financial status is the most stable of the world’s major economies and leading emerging markets. While China still faces risks related to local financing platforms and potential non-performing loans in the banking sector, the overall assets status of the Chinese banking system is still sounds and China’s rate of inflation remains lower than India’s and those of other hot emerging markets by several percentage points.Although pressure for renminbi depreciation continues to accumulate, the yuan is still stable compared with most emerging market currencies, many of which are now nearing currency crisis levels.Among the largest emerging economies—BRICS—in the first nine months of 2011, only China’s yuan appreciated by more than 3 percent in the inter-bank foreign exchange market. In the other four BRICS countries, the Russian ruble depreciated by 4. 06 percent, the Brazilian real lost 8. 01 percent of its value, while the Indian rupee and South African rand devalued by 8. 5 percent and 15. 7 percent, respectively.

China’s advantages mainly lie in the stable foreign trade policy.

2011，dubbed (被称为) the “year of global indignation,” revealed three major social problems of the current world.First, the financial crisis has caused rising income disparities. Living standards of the middle class were severely impacted as their wealth shrank by a wide margin. Second, rapidly developing information technology and globalization have brought people together. With the help of new media and non-state actors, turmoil in one country can easily spread to other countries. Third, the unbalanced population and employment structure have aggravated social tensions. The long-term unemployment of young people has made “young malcontents (不满现状者)” a common problem of the whole world.

Passage 2

Once, when Japan faced pressure from abroad, it would either give in reluctantly or keep quiet and hope (that the fuss would die down). No longer, it seems. The Clinton administration strongly believes in exerting such pressure. Its policy is to open some Japanese markets by setting import targets—(an approach) to trade policy that supporters call “results-oriented”. This ugly term foreshadows uncertain (consequences). Far from capitulating to this new thrust of American trade policy, Japan is taking a stand that could lead to a trans-Pacific confrontation.

49、What’s the meaning of “that the fuss would die down”?

50、What is the meaning of“approach”?

51、What is the meaning of “consequences”?

Passage 1

The trouble is, many countries still think of opening their markets to more imports as a concession to be made reluctantly, not (as economists see it) as something that is good for them in its own right. Even America and the European Union, which have led the push for open markets, still shelter parts of their economics for fear of hurting workers in coddled industries.Globalization has aroused worries in many rich countries that free trade with much poorer countries threatens jobs and prosperity. This was plain in last yearns debate in the United States and Mexico, was viewed by many Americans as their loss and Mexico’s gain. The idea that trade is desirable only if it happens among countries with similar wages dies hard.

46、What do economists think of opening markets to more imports?

47、Why do America and the European Union still shelter parts of their economies?

48、How did many Americans view last year’s debate in the United States and Mexico?

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