英譯中

　　If there's a threat of dangerous deflation-a general fall in prices-the causes lie as much in Europe and Japan as in the United States. The inevitable collapse of America's speculative boom need not have been especially damaging if the world's other advanced economies were healthy. Their expanding appetite for imports would have bolstered the United States and so-called emerging market countries, from Brazil to South Korea. The trouble is that other advanced economies aren't healthy.

　　Deflation could emerge from simultaneous slumps in the world's three major economies. Prices drop because there's too little global demand chasing too much global supply-everything from steel to shoes. Japan's ills are well known its banks are awash in bad loans. Less understood (at least in the United States) is the fact the Europe's troubles stem significantly from Germany. Germany is Europe's "sick man", just as Japan is Asia's. Only 15 years ago, these countries seemed poised to assume leadership of the world economy. Now they are dragging it down.

　　【參考譯文】

　　如果通貨緊縮--即(消費(fèi)品)價(jià)格普遍下跌(的現(xiàn)象)--會(huì)帶來危害，歐洲、日本同樣還有美國(guó)難逃其咎。如果世界上其它發(fā)達(dá)經(jīng)濟(jì)體良好，(即使)美國(guó)投機(jī)熱不可避免地覆滅，(也)不會(huì)帶來特別的危害。那些國(guó)家熱衷于進(jìn)口，確實(shí)給美國(guó)和一些所謂新興市場(chǎng)國(guó)家如巴西、韓國(guó)打了一針強(qiáng)心劑。不過)問題在于其它發(fā)達(dá)經(jīng)濟(jì)體并不完善。如果全球三大經(jīng)濟(jì)體同時(shí)下滑，通貨緊縮就會(huì)產(chǎn)生。從鋼鐵業(yè)到鞋業(yè)，全球需求急劇萎縮，而供給卻源源不斷，從而/這樣就會(huì)導(dǎo)致商品價(jià)格下跌。眾所周知的是，日本的癥結(jié)在于銀行不良貸款的沖擊。但有一點(diǎn)全世界(至少美國(guó))搞不太明白，即歐洲國(guó)家的經(jīng)濟(jì)問題主要由德國(guó)引起。德國(guó)是歐洲的病根，就像日本是亞洲的病根一樣，僅僅15年前，這些國(guó)家曾信誓旦旦地想要扛起全球經(jīng)濟(jì)的領(lǐng)導(dǎo)大旗，而現(xiàn)在卻在拖后腿。

　　中譯英

　　中國(guó)改革開放以來，國(guó)民經(jīng)濟(jì)年均增長(zhǎng)速度達(dá)到9.7%。中國(guó)已經(jīng)發(fā)展成為一個(gè)全球極富吸引力的大市場(chǎng)。世界各國(guó)和地區(qū)不少有遠(yuǎn)見卓識(shí)的企業(yè)家，都將目光投向了中國(guó)，投向了西部，并從投資活動(dòng)中獲得了豐厚的回報(bào)。中國(guó)加入世貿(mào)組織后，外商參與中國(guó)西部開發(fā)的機(jī)會(huì)越來越多。西部大開發(fā)一定能成為溝通世界各國(guó)和中國(guó)的一座橋梁，促進(jìn)中國(guó)和世界經(jīng)濟(jì)共同發(fā)展，共同繁榮。

　　【參考譯文】

　　Since the adoption of opening and reform policy, China's annual growth of national economy has reached 9.7%. China has developed into a big market attractive to the world. Numerous/A number of entrepreneurs of foresight around the world have cast their eye to China, especially the west China and gained abundant profit/profitability from investment. After China's entry into the WTO, there are more and more opportunities for foreign businessmen to join in the development of the West. The Great Western Development is sure to be a bridge between China and the rest world, which promotes/promoting the common development and prosperity of China and the world.