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经贸专业英语1999【试题+答案】

经贸专业英语1999【试题+答案】
经贸专业英语1999【试题+答案】

1999对外经济贸易大学国际贸易专业英语试题

1. ASIA: ONE YEAR LATER

On the first anniversary of Asia’s worst recession in half a century, it is clear that the geoeconomic shape of the Pacific Rim will be far different from what anyone anticipated just a year ago. The fulcrum of growth is slowly shifting from a senescent Japan and stagnant Southeast Asia to a dynamic, confident China, President Clinton’s remarkable journey will likely mark this tectonicshift for future histories. Consider these events taking place: CHINA is choosing a strategy of pumping up domestic-led economic growth, in contrast with the International Monetary Fund’s policy of austerity and Japan’s weak yan-and-export push. By cutting interest rates, privatizing housing, inviting foreign investment, and keeping the renminbi stable, Beijing is increasing domestic demand and growth. Certainly, China shares many of the woes afflicting Asia-insolvent banks, lax regulatory enforcement, and corruption. Yet its vigor in attacking these problems and its decision to opt for a strong currency set it apart and show real leadship. Japan, in contrast, is stick in a hermetically sealed society. Despite the rhetoric of reform, its political and bureaucratic elites deny there is anything basically wrong and run the country as a pension state focused on an aging population. Problems are described as isolated , and solutions take an inordinate amount of time. Seven years into a severe banking crisis, Tokyo is just now passing legislation to create a Resolution Trust Corp.-type unit. Meanwhile, the unemployment rate soars to new records. Among men, who constitute most of thelabor force, it hit 4.3% in May, It is worse for the young. The jobless rate for men 15 to 24 years old rose to 8.4%.

Foreign investment should be pouring in to reinvigorate growth, but little is allowed. Mergers and acquisitions should be consolidating companies, but few are permitted. Immigrants should be arriving to give new life to society and support the elderly, but they are forbidden. Outside CEOs should be taking over failing corporations, but is not accepted. As much as China is invigorated, Japan is stultified. The contrast is startling.

SOUTHESAT ASIA is in agony. A huge nascent middle class is being pushed back into poverty. Depression is looming. Indonesia is deindustrializing, with people leaving cities to return to villages. Chinese merchants are fleeing(up to 100,000 have left). Overseas Chinese capital that funded much of Southeast Asia’s past three decated of growth is drying up.

1.一年之后的亚洲

很明显,在半个世纪以来亚洲出现最严重经济衰退的一周年之际,环太平洋地区的地缘经济状况形势和一年以前任何人预期的都相去甚远。经济增长的支柱已经由疲软的日本、东南亚向经济发展势头强劲、满怀自信的中国转移,克林顿总统的非凡之旅也将标志着未来经济架构的巨大转变。请看看都发生了什么事件:与国际货币基金组织节俭政策和日本弱日元的出口推动模式相反,中国正在选择发展内需拉动型经济增长,通过降低利率、房产私有化、吸引外国投资和保持人民币币值稳定等举措,中国政府旨在增加国内需求和促进经济增长。当然,一些曾经困扰亚洲破产银行的诟病、政策实施的不力以及腐败问题在中国也同样存在,但其解决这些问题的决心和维持硬通货的决定明显的与其他国家不同,显示出了中国领导者的风范。

形成鲜明对比的日本则依然封闭在自己的国家里,尽管进行了一些表面花哨的改革,但其政界精英们认为其基本政策没有错误,他们把这个国家作为一个注重老龄人口的福利国家来管理。他们认为存在的问题只是个别的,因此仅仅在这些小问题上推出零零散散的解决方案,没有一点连贯性。七年的之后,结果出现严重的银行业危机,对此,日本政府则通过了一项法规建立一个清偿债务信托公司予以应对,而此时,失业率也创造了历史新高。作为劳动力市场主力军,成年男子失业率在五月份达到 4.3%,青少年的情况则更糟,15岁至24岁年龄段的失业率高达8.4%。

在这种情况下,外资的注入应该能够重振经济,但是很少有外资被允许进入;公司间的购并能够达到整合的目的,可这也是不允许的;外国移民的进入能够缓解社会老龄化的问题,可这被日本政府禁止;引进外国首席执行官来管理落败的企业才是可行之策,遗憾的是这也不能被接受。在中国经济不断振兴的同时,日本则萎靡不振,差别之大的真是令人吃惊。

东南亚也处于一片水深火热之中。大批新生的中产阶级返贫,到处都是一片萧条。印尼的工业化发生倒退,导致居住在城市的人们被迫返回农村。华人资本家的商人们纷纷逃散(多达10万人已经离去)。过去三十年中,海外华人在东南亚的投资化为乌有。

2. FRAMEWORK AGREEMENT.

The Framework Agreement is made up of six parts that lay out the basic parameters of the GATS. The six parts deal with (1) the scope and definition of GATS,(2)general obligations, and disciplines of member states, (3)obligations and disciplines concerning specific commitments of member states,(4)a schedule for progressively liberalizating the world’s trade in services, (5)the institutional structure for implementing the GATS , and (6)miscellaneous provisions.

While much of the GATS is based on the provisions in the General Agreement on Tariffs and Trade and uses much of the same terminology, the “architecture” of the Agreement is significantly different. Unlike GATT, which provides for a single set of the obligation that apply to all measures affecting trade in goods, the GATS contains two sets of obligations (1) a set of general principles and rules that apply to all measures affecting trade in services and (2)a set of principles and rules that apply only to specific sectors and subsectors listed in a member state’s Schedule. The consequence of this division of obligation is that the principles and rules in the GATS, as we shall see, are less “binding” than t hose in the GATT.

2.框架协议

框架协议由六部分组成,它们构成了GATS的基本内容。这六部分涉及到(1)GATS的范围和定义;(2)成员国的一般义务和规则;(3)成员国具体承诺的义务和规则;(4)各国开放自由服务贸易的时间表;(5)GATS执行机构的组成;(6)其他规定。

GATS很大程度上以关贸总协定为基础,大量使用同样的术语。但是,服务贸易总协定的体系与之不同。GATT对所有影响货物贸易的措施提供了单一的义务规范。与此不同的是,GATS对所有影响服务贸易的措施提供了两套的义务规范:一套是一般原则和规则,适用于所有影响服务贸易的措施,另一套原则和规则适用于成员国时间表中列出的具体部门和分部门所有影响服务贸易的措施。就像我们看到的那样,这种义务划分的后果是,GATS中的原则和规则比GATT缺乏约束力。

3. PURPOSES OF TAXATION

Taxation schemes are usually created for three basic purposes: (1) to raise revenue for government; (2) to encourage, regulate, or restrict local or foreign

investment; and (3) to protect consumers or local producers. The rationale most commonly used for adopting or changing a particular tax scheme is to improve revenues. For example, the multinational oil companies that discovered and developed the petroleum industry in the Middle East encouraged the local governments to impose a corporate income tax. Although this seems irrational at first blush, it was a sound financial move. The countries, rather than taking a percentage royalty on profits (which was the arrangement originally agreed to), imposed an income tax on profits at a slightly higher percentage. The result was an increase in income for both the companies and the countries. This was because the companies could use the taxes they paid to the Middle East countries to offset the taxes they paid to their home-country governments. (Royalties, by contrast, cannot-in most countries-be used to offset corporate income taxes.) This meant that the companies paid fewer taxes at home and, even though they were paying more to the host countries, their after-tax profits were large. A second example is the value-added tax (VAT), which generally produces greater revenues than a sales tax. In the last thirty years, some forty countries have switched to, or adopted directly, a VAT. By contrast, the most difficult tax scheme for governments to alter is one that protects local products. Producers are commonly able to lobby the government to maintain a particular scheme, even though it may run contrary to other governmental objectives. However, the protection of local producers is not necessarily a frivolous rational for a tax scheme, even in times of increased international trade.

3.税收的目的

税种征收通常有三个基本目的:(1)获得政府财政收入;(2)鼓励、监管或限制本地或外国投资;(3)保护消费者或本地制造商。征收或改变单个税种通常是为了增加财政收入。例如,跨国公司在中东建立和发展石油产业使得当地政府征收公司所得税。虽然乍一看这似乎不大合理,但是它是一个正确的财政举动。各国不是根据一定百分比对利润收取的矿区使用费(双方事先同意做出的安排),而是根据一个略微高一点的百分比对利润收取所得税。其结果是石油公司和石油出产国家的收入都有增长。之所以如此,是因为跨国公司它们向中东国家缴纳的税额抵消本国政府的税额。(相比之下,在大多数国家,矿区使用费不能用来抵消公司所得税。)

这意味着,即使跨国公司在东道国交纳了大量税收,它们在本国可以缴纳了较少的税收,因此它们的税后利润是巨大的。另一个例子是增值税(VAT)。它比销售税创造更多的财政收入。在过去30年,大多数国家大约40个国家转向招收增值税,或直接征收增值税。相比之下,政府不易改变的税种当属保护当地产品的税种。本地制造商常常游说政府保留特定税种,即使它不符合政府的其他目标。但是,就是在国际贸易不断增长的时代,保护本地制造商并不是税种存废的理由。

4. PAYMENT TERMS

Unless otherwise agreed in writing, or implied from a prior course of dealing between the parties, payment of the price and of any other sums due by the Buyer to the Seller shall be on open account and time of payment shall be 30 days from the date of invoice. The amount due shall be transferred, unless otherwise agreed, by teletransmission to the Seller’s bank in the Seller’s country for the account of the Seller and the Buyer shall be deemed to have performed his payment

obligations when the respective sums due have been received by the Seller’s bank in immediately available funds. If the parties have agreed on payment in advance, without further indication, it will be assumed that such advance payment, unless otherwise agreed, refers to the full price, and that the advance payment must be recei ved by the Seller’s bank in immediately available funds at least 30 days before the agreed date of delivery or the earliest date within the agreed delivery period. If advance payment has been agreed only for a part of the contract price, the payment conditions of the remaining amount will be determined according to the rules set forth in this article.

4.支付条款

除非经过书面同意,或双方以前的交易另有默示,买方应该在发票开出之日起30日内向卖方支付到期的买价和其他款项。除非双方另有协议,到期款项必须“汇到卖方所在国卖方银行的卖方账户上。卖方银行接收到相应数量的金额,买方才被视为履行了义务。”如果当事人同意支付预付款,而没有进一步对此协商,除非另有约定,推定此类预付款是指全部合同金额。并且应至少在商定的支付日前30天或在协议支付期限内最早的一天以现金方式汇到卖方银行。如果当事人商定预先支付合同金额的一部分,余下金额要根据合同条款的规定的规则支付。

5. TYPES OF DIVIDENDS

Cash Dividends. The most customary type of dividend is the cash dividend declared and paid at regular intervals depending in amount upon the policy of the board of directors and earnings of the enterprise. References to “regular” dividends in a charter or contract are considered as referring to a distribution of the earned surplus in the form of cash. While dividends are almost invariably paid in cash, in a few instances a distribution of earnings has been made to shareholders in the form of property and has been termed a property dividend. On one occasion, a distillery declared and paid a dividend in bonded whiskey. Stock Dividends. A stock dividend is a ratable distribution of additional shares of the capital stock of the corporation to its shareholders. It is reflected on the books of the corporation by a reduction in surplus account equal to the amount of the stock dividend and a corresponding increase in the stated capital account. The practical and legal significance of a stock dividend differs greatly from a dividend payable in cash or property. Following the payment of a stock dividend, the assets of the corporation are no less than they were before, and the shareholder does not have any greater relative interest in the net worth of the corporation than he had before except possibly where the dividend is paid in shares of a different class. His shares will each represent a smaller proportionate interest in the assets of the corporation, but by reason of the increase in the number of shares his total investment will remain the same. The declaration and payment of a stock dividend means that surplus which may have been previously available for distribution or other uses is thereafter frozen in stated capital. A stock dividend should not be confused with a stock split. By the latter, each of the issued and outstanding shares is simply broked up into a greater number of shares, each representing approportionately smaller interest in the corporation. A stock split effects no change in the stated capital or in the

surplus account. Where there is more than one class of shares outstanding it is possible for either a stock dividend or a stock split in one class to alter the relative voting strength of the different classes.

5.股利的类型

现金股利。最普遍的派息方式是定期公告和派送的现金股利,派送股利的数额依据董事会的政策决议和企业的利得利润。在公司章程和协议中所涉及到定期股利被认为是一种用现金形式对公司赚取盈余的分派。在曾有的几个案例里,当股利几乎总是用现金派发时,盈余的分发以物品的形式派给股东,冠以专业术语“实物股利”。有些时候,某个酿酒商会用保税仓库内的威士忌宣派股利。

股票股利。对于股东来说,股票股利是一种按比例对公司资本股票(即原始股票)进行追加股份份额的分配方式。它通过与股票股利数额相等的盈余的减少以及同等数额固定资本的增加反映在公司的账簿上。股票股利实际内在的涵义远远不同于现金或实物支付的股利。在发放股利之后,公司资产相对以前不会减少,除非股利有可能按照不同的等级发放,否则公司净值的利息差不会比以前更大。股东股份的每一份额都将代表与公司资产成比例的更少的利息,但是由于股份数额的上升,总投资都将保持不变。股利的公告与派发意味着原来用于发放或其它用途的盈余以后会被冻洁在固定资本中。

股利不能混同于股票分割。就后者而言,每一份发行和未决的股份会被自然地分成更多的股份,都代表在公司更少的利息。股票分割不会引起固定资产或盈余账户的变化。当存在超过一单位未决的股份时,对于无论是一单位的股利还是股票分割,来改变不同单位的相对一致的强势都是有可能的。

6. SAVING AND INFLATION

The greater part of the research, however, has been into the relationship between inflation and the savings ratio. Most of the studies have found a positive connection between these two variables, but there is some disagreement as to why the inflation rate should affect the savings ratio. One theory (Deaton 1977)explains the relationship in terms of consumers failing to perceive that actual rate of inflation. The suggestion is that consumers underestimate the average price level and are therefore unduly shocked at the apparently “excessive” rise in the price of particular commodities. Until such time as consumers recognize the true (and higher) level of average prices, purchases of these commodities will have been cut back in response to the assumed sharp increase in individual prices. Savings will therefore rise as a result of this “inflation surprise” effect. This theory suggests that it is unanticipated inflation that matters, so that the effect on consumption, and therefore savings, will be particularly strong in the early stages of inflation when the rate of inflation is accelerating.

A study by Bulkley (1981) has supplemented the above theory, showing that even if inflation is fully anticipated the savings ratio will increase as long as anticipated inflation is itself increasing. Even if inflation is fully anticipated, workers’ real wages will still have fluctuated throughout the year, since money wages are usually set on only one occasion in the year. Real wages will therefore be at a maximum when the money wage is first set, falling to a minimum a year later as prices progressively rise. In order to smooth out his or her real consumption pattern over the year, an individual will save more each week early in the contract

period, and correspondingly less later in the contract period. If inflation is constant, and if wage contracts are spread evenly over the year, then the additional savings of some will cancel out the reduced savings of others, and there will be no aggregate effect on the savings ratio. However, when anticipated inflation is increasing and with it the money wage, then the extra savings by those who have recently received higher wage awards will more than offset the reduction in the savings of those nearing the end of their nominal wage contracts, and the savings ratio will rise.

6.储蓄与通货膨胀

然而,通货膨胀与货币储蓄比率之间的关系已经成为研究的重头戏。大多数的研究已经发现这两个变量之间的明确关系。但是,至于通货膨胀率为什么会影响储蓄比率,仍然有人对此持有不同观点。一种理论(1997年迪特)解释这种关系在于消费者没能意识到真正的通货膨胀的比率。显示出消费者低估了平均价格水平因此对于个别商品价格的“过度”上涨而表现出过度的震惊,一直到他们意识到真实的(更高的)价格水平,以及这些商品的购买力,由于受假定的商品单价急剧增长的影响,将会大量削减时,他们才不会震惊。由于受这种“通货膨胀震惊”的影响,储蓄也会因此增加。这种理论表明;是不可预知的通货膨胀在起作用,由此影响了消费。因此,当通货膨胀比率正在加速上升的早期的舞台上,储蓄将会变的尤其强大有力。

巴克雷(1981)已经对上述理论进行了补充。他说,即使通货膨胀完全可以预料,只要预料的通货膨胀本身仍在上升,那么储蓄比率就会上升。即使通货膨胀完全可以预见,但由于货币工资一年内通常只设立一次,因此工人的实际工资仍会有波动。当货币工资首先确定时,实际工资的价值因此处于最大值;一年后由于价格逐渐上涨,其价值会跌落到最低值。为了使他们自己的实际的消费方式顺利进行下去,在货币紧缩的早期,个人每周便会储蓄更多的货币,而在货币紧缩的后期则会相对少一些。如果通货膨胀是持续性的,而且工资紧缩在一年中平稳的扩大,一些人增加的储蓄将会抵消其他人减少的储蓄,因此会对储蓄比率产生总体影响。因此,当预期的通货膨胀比率以及伴随着货币工资一块上升时,那么,最近那些获得更高的工资奖金的人们的额外储蓄将会比那些接近名义上的工资紧缩极限的人们由于储蓄减少而获得的补偿还要多,那么储蓄比率将会上升。

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