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current account
The reactions to these first signals from the Clinton team have been sharply divergent.
Passage 1 If European aren't bursting to give the single market a coming-out party, it may simply be that markets aren't the kinds of things people gush about, as EC commission president Jacaues Delors has often noted. The fact that free movement of people— aspect of the market that will be most evident to the average person—is not yet a reality also plays a role. Another explanation is that many of the market's original 282 directives have already been implemented. “By Jan. 1 we ill have passed 95 per cent of what we sought in 1986 to create the single market, much of the will already have been translated into national law,” says Perissich. “Adjustment to the market has been going on for years won't be expected overnight.” 36.What does “EC” stfor what is the meaning of “gush about”? 37.Paraphrase the underlined sentence. 38.In addition to people, what else can be moved freely within the Single Market?
Aggregate output for developing country advancedby slightly less than 2 percent during 1991.
The treaty stipulates a member’s obligations benefits.（ ） A. privilege B. duty C. ability D. action
Textiles footwear had accounted for quite a large percentage of China’s total exportswere till growing the fastest.
The government decided to slash its tariff by 25 percent. A. reduce drastically B. divide C. increase D. raise
Passage 2 It is time to junk much conventional wisdom about the US economy. Until recently, most analysts assumed the recovery from recession would remain abnormally weak. looking further ahead they assume that the US would continue to decline economically relative to other industrial countries, principally Japan a more unified European Community. Both assumptions are now looking shaky. A clutch of much stronger than expected data suggests the US recovery is finally beginning to take off. Output per hour increased 2.7percent last year-the fastest productivity growth in 20 years. With productivity increases translating into impressive gains in corporate profits, US share prices are hitting record high the dollar is beginning to climb relative to other leading currencies. For internationally mobile capital, the attractions of the US economy are enhanced by worse than expected performance just about everywhere else. Growth throughout Europe is being held back by the strains imposed by German unification currency instability, Japan, meanwhile, is struggling with its worst financial crisis in decades. President Mr. Bill Clinton is not only inheriting a lean, productive economy, he is inheriting the most encouraging inflation outlook for a generation. Consumer prices are expected to rise by only about 2.5% to 3% this year next. Mr. Clinton, however, in his State of Union address on February 17, is expected to announce an economic stimulus worth about US $ 30 billion, or 0.5 percent of GDP. He will also announce longer term plans to tackle the familiar budget deficit, now running at about $ 300 billion but expected nearly to double within a decade because of runaway growth of spending on health care other ‘entitlement’ programs.Statements: 47.The conventional wisdom about the US economy assumed that the recovery would remain abnormally weak.( ) 48.The US economy recovery becomes more attractive for internationally mobile capital because the US recovery is abnormally strong.( )49.Both assumptions are now looking right.( )50.Mr. Clinton will make effort to slash the familiar budget deficit.( )51. The budget deficit of US is expected to be worse in the next ten years.( )
vested interests
trade surplus
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