2010级第7周商务英语翻译.doc

2010级第7周商务英语翻译(S)一、英译汉：The Great Depression1The Great Depression was the longest and most severe period of economic depression ever experienced by the United States. It began with a collapse of prices on the New York Stock Exchange (NYST) in October 1929, and did not end until the United States entered World War II in late 1941. At its worst pointin early 1933the American economy seemed on the verge of total collapse. National income had declined by almost one-half in little over 3 years; capital investment had dropped to the point where net investment was negative; and one out of three people in the labor force was out of work. 2 Recovery from the depths of this economic decline was excruciatingly slow. In 1941, 12 years after the initial shock of the stock market crash, more than 10 percent of the labor force was still unemployed, and per capita income had not yet regained the level of 1929. The most protracted period of economic stagnation in American history was finally ended by the war mobilization effort in 1942. Obviously, no single event or factor was responsible for the decline. There are, however, several factors which seem to play a prominent role in most explanations of the period.The Collapse of Asset Prices 3The stock-market crash which began on October 24, 1929, was not confined to a single day; the decline in asset prices was a process of continual erosion for almost 3 years. By late 1932 stock prices on the NYSE had fallen to only 20 percent of their values in late 1929, and the prices of other assets had similarly declined. This enormous fall in the value of assets not only wiped out countless individual fortunes and savings, it also placed serious pressures on the stability of financial institutions, particularly banks.The Decline in Spending 4The so-called spending thesis analyzes the Great Depression in terms of the enormous fall in both consumption and investment expenditures between 1929 and 1933 and in terms of the failure of these expenditures to recover after 1933.In this view, the interrelationship of income, consumption, and investment, together with the pessimistic expectations following the financial collapse, acted to discourage spending and thus to hinder the recovery of income. Not until government spending increased dramatically following the 193738 slump did aggregate spending return to a level sufficient to restore employment to a full employment level.Structural Weakness in the American Economy 5Both the spending thesis and the monetarist thesis acknowledge the importance of serious flaws in the institutional framework of the American economy which contributed to the problems of 1929 to 1941.Most obvious was the inability of the financial sector to adjust to the decline in asset values, a failure which was transmitted to other sectors of the economy as well. The extent to which was transmitted to income and wealth were concentrated in the hands of a small fraction of the population may have magnified the effects of the stock market crash on spending. Even more significant was the absence of any institutional arrangements to cushion the effect that loss of income due to unemployment had on aggregate spending. In short, the institutional framework of the United States in 1929 was simply not equipped to deal with such a dramatic shift in expectations and the level of economic activity. Once the momentum of the decline had built up, there were no institutional arrangements which might stem the tide of activity.Economic Philosophy in the United States 6 The experience of the Great Depression shattered Americans faith in their laissez faire economic philosophy. The inability of the economic system to stem the economic decline after 1929 produced increasing pressures for action by the governmentpressures which undoubtedly contributed to Roosevelts election in 1932,Roosevel responded with a variety of programs intended to promote recovery. These included: programs for income maintenance; government-sponsored price and wage codes designed to limit the harmful effects of cutthroat competition and, finally, programs of public works to provide jobs for the unemployed. This last approachpublic worksincreasingly become the mainstay of the governments effort to reduce unemployment. The notion that government should play an active role in maintaining stability was a major tenet of New Deal thinking.二、汉译英：回归颂香港回归祖国是中华民族的盛事，也是全世界瞩目的一件大事。中华民族洗雪了百年耻辱，振奋了民族精神，感到无比的骄傲和自豪。香港实现平稳过渡，标志着邓小平“一国两制”构想的巨大成功，对澳门回归和解决台湾问题，实现祖国完全统一将起到积极的推动作用。香港自回归祖国以来，保持了原有的社会、经济制度不变，生活方式不变和法律基本不变，“一国两制”、“港人治港”、高度自治的方针和香港特别行政区基本法得到全面贯彻执行。香港社会稳定，人心稳定，经济保持稳健运行。中央政府全力支持香港特别行政区政府的工作，支持香港为应付东南亚金融风暴的冲击而采取的措施。我们高兴地看到，香港特别行政区作为独立的选举单位，选出自己的全国人大代表，出席本次大会，参与管理国家大事。香港回归祖国以来已经有了一个良好的开端，也一定会有更加美好的未来。海滨国际宾馆海滨国际宾馆是我国高校首批涉外宾馆之一。宾馆拥有雅致舒适的标准客房和豪华套房，客房内设有卫星闭路电视系统、中央空调、国际国内直拨电话、小酒吧等设施。宾馆还有多功能厅、会议厅、华丽宽敞的宴会厅多座，以及国际标准保龄球馆、桌球房、游艺室