Translating from English into Chinese.
The greatest challenge of the 21st century will be to narrow the income gap between rich and poor nations, writers Martin Wolf. None of the readers of this column, has much chance of being alive at the end of this century. But suppose, for a moment, one was. What would give most pleasure? My answer is simple: that the economic opportunities now available to a small proportion of humanity would have become available to all.
马丁. 沃尔夫写道：21世纪最大的挑战将是缩小贫富国家之间的收入差距。与该文同时代的读者也许没有一位能活到这个世纪末，但是假如有一个人可以的话，那么他最有希望看到的情况会是什么呢？答案很简单，那就是现在只有少数人才能得到的经济机会可以为所有人享有。
Two centuries ago, the lives of the great majority of human beings were, in the words of Thomas Hobbes, “nasty, brutish and short”. But then in a small island off the western end of Eurasia began what the great US economist, Simon Kuznets, called “modern economic growth”. By this he meant cumulative rises in real incomes per head. This was so much newer than what is today called the “new economy” that almost all the great e conomists failed to realize what was happening. Yet, according to Angus Maddison, the economic historian, since 1820 world population has increased 6-fold and world real output 50-fold. But the distribution of those huge gains has been highly unequal. At the beginning of the 19th century, the ratio of real incomes per head between the world’s richest and poorest countries was 3 to1. By 1900, it was 10 to 1. By 2000,it has risen to 60 to 1.
按照托马斯. 霍布斯的说法，在两个世纪前，大多数人的生活不仅“艰难、残酷，而且短暂”。然而在欧亚大陆西端外的一个小岛上，开始出现了一种被美国伟大的经济学家西蒙.库兹涅茨称为“现代经济增长”的现象。他所说的经济增长指的是人均实际收入的累计增长。这种说法比当今的“新经济”概念还要新，以至于当时几乎所有权威的经济学家都未意识到所发生的一切。
依据经济历史学家安格斯.麦迪森的观点，1820年以来世界人口仅增长了6倍，而世界财富却实际增长了50倍。但是，这些巨额财富却分配严重不均。19世纪初，在世界最富和最穷国家之间，人均收入比是3:1. 到1900年，这一比率扩大为10:1，而到2000年，这种人均收入比率已经飙升到60:1.
Translating from English to Chinese.
The letter of credit is the most widely used instrument of international banking. It has had a long and successful history as a means of facilitating international trade particularly during times of economic and political uncertainty. The letter of credit is the bank instrument that assures the person selling merchandise of payment if he makes the agreed-upon shipment. On the other hand, it also assures the buyer that he is not required to pay until the seller ships the goods. It provides the buyer and the seller with mutual protection in dealing with each other.
信用证是国际银行业务中最广泛使用的凭证。信用证由来已久，卓有成效，是促进国际贸易的一种手段，在经济和政治不稳定时期尤其如此。当买卖双方
签定合同时，一笔国际交易就开始了。合同写明这项交易的全部内容：商品名称、价格、交货日期、运输方法以及商品的颜色、规格等细节。
An international trading transaction begins when a buyer and a seller sign a contract that records all the elements of the transaction: the merchandise, price, delivery date, and method of shipment, as well as specifics of color, size and so on.
协议达成后，买卖双方必须安排支付问题。买方想在付款前拿到货物，而卖方则想在交货之前获得货款。由于彼此往往不甚了解，所以买卖双方对交易都存有某种戒心。
Having worked out an agreement, the buyer and seller must arrange payment. The buyer will want possession before paying, and the seller will want payment before making delivery. Since each party oftern has incomplete knowledge of the other, there is a certain caution to their dealings. At this point, the letter of credit can be extremely useful. The buyer requests his bank to issue a letter of credit in favor of the seller. Assuming that the credit risk is acceptable to the bank, it issues its letter of credit. The letter says, in essence, to the seller;” We, the bank, promise that we will pay you when you submit certain documents proving that you have made the agreed-upon shipment.” The letter of credit also protects the buyer, for he knows that he will not be called upon for payment by his bank until the evidence shows that the shipment has actually been effected.
协议达成后，买卖双方必须安排支付问题。买方想在付款前拿到货物，而卖方则想在交货前获得贷款。由于彼此往往不甚了解，所以买卖双方对交易都存有某种戒心。信用证在这一点上极为有用。买方就要求银行给卖方开具一张信用证。如果银行愿意承担风险，它就发放信用证。信用证实际上是告诉卖方；“当你出示凭证证明货物已按协议装运完毕，我行答应付款”。信用证同时还保护着买方，因为买方知道，在有凭证证明货物确已装运后，银行才会要求他付款。
Translating from English into Chinese.
The most important drawback of the AMA is that it takes a simplistic and incomplete view of the marketing process. According to the definition, marketing is construed to occur from marketer to consumer. The flow is in one direction . Such a viewpoint overlooks how marketing actually occurs in the real world. The process is not limited to a one-way flow or sequence from marketer to consumer. Rather, the vast majority of marketing activities involves interaction between seller and buyer. As a consequence, a number of marketers now view marketing in terms of exchange relationships.
该定义最大的缺点在于，它对营销过程的理解过于简单、片面。依据它的定义，营销被解释为是从销售商到消费者的单向的业务过程。这种观点没有考虑到显示中的实际情况。市场营销的过程不仅仅是从销售商到消费者单向流动的过程或顺序，绝大多数市场营销活动都会涉及买方与卖方的相互作用。所以有一些企业营销人员会从交换关系这个角度去看待市场营销。
The field of marketing is quite broad in scope and overlaps with and draws upon many related subject areas. As we may discover, marketers continually borrow
