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Chinas access to substantial sums of money from the World Bank also reduces the need to borrow on commercial terms.
China is reaping the rewards of reforms first launched by Deng Xiaoping in 1979.
As a result,the visible trade surplus rose sharply from US $ 1.4 billion in 1981 to US $ 4.4 billin in 1982 US $ 3.7 billion in 1983. A.inport B.export C.excess D.saving
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?
A year ago. AT&T looked as if it might soon be sleeping with the fishes. Its long- time boss, Bob Allen, had been replaced in November 1997 by Michael Armstrong from Hughes Electronics, who was a relative novice in the telecoms business. The firm's long-distance operation was being whittled away by newcomers such as WorldCom.Its international alliances were floundering. it had wasted $ 4 billion trying to persuade its uppity offspring, the Baby Bells, to let it into their lucrative $ 100 billion local markets. People whispered that the only good bit of AT&T had been its equipment business. Yet in the past six months Mr. Armstrong has silenced most of his critics. Some of his moves - for instance slimming AT&T's workforce by another 18,000 people piling money into Internet research - were only to the expected. But AT&T has also begun to throw its weight around: It has terrified the Baby bells, first by buying TeleCommunications Inc, America's biggest cable -TV firm, for $ 48 billion and, this week, by forming a joint - venture with Time Warner, the second -biggest cable group, to deliver local telephone services. AT&T now has a potential line into 50 million American houses (more than 40% of the total), it talking with other big cable operators about extending its reach.Statements: 1.When Machael Armstrong replaced Bob Allen in November 1997, he was considered as an expert in the telecoms business.( ) 2.Though AT&T's long - distance operation was being reduced, its international alliances were doing extremely well.( ) 3.Mr.Armstrong was expected to make more employees redundant soon after he became the new boss of AT&T.( ) 4.Undr Machale Armstrong,AT&T threw its weight around by buying TeleCommunications Inc, by forming a joint - venture with Time Warner.( )5.Mr. Armstrong was quite irresolute in dealing with his critics.( )
Economic problems were exacerbated by three bad harvests with the result that national income the volume of foreign trade contracted during 1960-1962. A.deepened B.stagnated C.deteriorated D.postponed
barter trade
Few state owned firms have been sold,most are laggard behemoths.
American hopes that pressure from the U. S.will force Japan to suddenly dismantle its trade barriers are almost certain to evaporate in disappointment. The fact is that Washington faces an obstacle far more formidable than a few power brokers in Tokyo's government offices. It must buck centuries-old, deeply ingrained Japanese customs. To move the Japanese government, Washington must move an entire nation.Questions:1.What are American hopes?2.Can their hopes come true? Why? Or why not?3.What does ‘move’ mean in the given context?
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