The Sino-US Trade & Economic Relations

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1 The Sino-US Trade & Economic Relations

2 Business Terms sluggish scapegoat 萧条的 替罪羊 competitive advantage 竞争优势
balance of payments purchasing power to hold down the inflation rate a weakening dollar 萧条的 替罪羊 竞争优势 国际收支 购买力 降低通货膨胀率 日益趋疲的美元

3 Business Terms 美国国库券 子公司 外部采办/外包 基础设施 资本设备 估值过低的货币 操纵 有活力的 不断急剧下降
U.S. Treasuries Subsidiary outsourcing infrastructure capital equipment undervalued currency to manipulate dynamic to spiral downwards

4 Business Terms sluggish 缺乏活力的 red ink 赤字 law firm 律师事务所 aggressive
to capture a market trade barrier export-led growth comparative advantage international division of labour 缺乏活力的 赤字 律师事务所 积极进取的 占领市场 贸易壁垒 以出口为导向的增长 比较优势 国际劳动分工

5 Why we Ought to Be Thanking the Chinese
March 22, 2004

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7 Flirt with to think about or be interested in sth for a short time, but not very seriously玩儿似地想…… I flirted briefly with the idea of emigrating. 我闹着玩似地动过移民的念头。

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9 Bottom line≠底线 the final line on a company's accounting statement that shows profit or loss that the company makes at the end of a given period of time after everything has been calculated." The bottom line for 2001 was pre-tax profit of ￡ 5 million. 2001年公司财务状况是税前利润500万英镑。

10 the deciding or crucial factor; the essential point in a discussion or an argument; the most important thing that one must consider or accept; the most important factor that must be accepted, however reluctantly or even you may not like it The bottom line is that we have to increase our sales or take a cut in pay. 关键问题是我们必须增加销售额，否则就得减工资。 If you don't make a profit, you go out of business: that is the bottom line. 如果不盈利，你就会破产，这是必须面对的现实。

11 How can China avoid the middle income trap?
The finance minister of the People’s Republic of China, Lou Jiwei says China has a 50 per cent chance of falling into the much-dreaded ‘middle income trap’. How can China avoid the middle income trap?

12 Structure Some see China’s rise as a threat.
Some see China’s ascension as an opportunity. The author sees China’s opening as progress.

13 Para. 4 一些公司要求通过保护来抵御中国。保护主义，充其量只会给生产商一个有名无实的避风港，一次短暂的喘息机会。而这样做付出的巨大代价是消费者将被迫为商品支付较高的价格。近几十年来，汽车、钢材和纺织品一直是美国备加保护的行业。可是，所有这些行业都一直在走下坡路。未经受过竞争的严峻考验，这些公司缺乏活力，且效率低下。无论如何它们最终将萎缩，随之而来的是我们试图保护的就业机会也将失去。

14 Para. 17 由于充分发挥其在制造业中低工资的比较优势，中国势必将迫使其他国家将资源转移到他们最擅长的领域去。就美国而言，这通常是指那些高价值的服务、技术和中间产品，即与高薪工作联系在一起的经营活动。