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?

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.