Passage 2

The pattern of China’s foreign trade has changed substantially since the founding of the people's Republic. Daring the I950s China exported agricultural products to the USSR and East European countries in return for manufactured goods acid the capital equipment required for the country’s industrialization program which placed emphasis on the development of heavy industry. The Great Leap Forward of 1958-1959 initially produced gains in agricultural and industrial production, but subsequently resulted in serious economic imbalances. Economic problems were (exacerbated) by three bad harvests with the result that national income and the volume of foreign trade contracted during 1960-1962.The withdrawal cf Soviet economic and technical aid in the early 1360s caused trade to shift away from the USSR and its Comecon partners towards Japan and Western Europe. A consistent rheme of China's foreign trade policies has been the strong emphasis which has been placed on developing trade relations with the Third World countries.The growth of foreign trade was disrupted again during the Cultural Revolution (1966-1976) when agricultural and industrial production fell sharply and transportation constraints became more serious.

39、What’s the meaning of “the pattern of China’s foreign trade”?

40、What kind of clause is introduced by “when” in the sentence of the third paragraph? An adverbial clause or an attributive one?

41、What’s the meaning of “exacerbated”?

China’s chemical fiber output is expected to reach 41 million tons by 2015 while its production capacity will hit 46 million tons, the Ministry of Industry and Information Technology said Thursday. The country targets an 8-percent growth in value-added output of the chemical fiber industry, according to a guideline issued Tuesday by the ministry regarding boosting the sector’s development. Over the next four years, the chemical fiber companies will strengthen their abilities to self-innovate, push forward technological advances, promote energy conservation and the circular economy, according to the guideline. The industry will see better product structures and a sharp rise in its production capacity of high-performance chemical fibers by 2015, the guideline said.

If EU is not rescued, the export of Germany goods will boom because the currency of Germany will appreciate sharply.

In order to rescue EU, the euro zone might issue euro bonds.

The result of U. S. sub-prime crisis led to the present U. S. and European sovereign debt crisis.

The U. S. sub-prime crisis will bring the future international financial market more turmoil and push the world economy into another recession.

Passage 2

The global financial crisis can be divided into several stages: From August 2008 to the bankruptcy of Lehman Brothers in September 2008 was the U. S. sub-prime mortgage crisis; after September 2008 it became the international financial crisis; and as of October 2009 when Greek sovereign debt crisis broke out, the crisis became a sovereign debt crisis. The question is: Is the European currency crisis now in a new stage? And what comes next?We think the present U. S. and European sovereign debt is the aftershock of the U. S. sub-prime crisis, and also the pre-shock that will bring future international financial market more turmoil and push the world economy into another recession. Recently Standard & Poor’s placed the European Union on its watch list，and some countries are preparing for the EU to balkanize, so we must he prepared for this crisis.In rescuing the EU, there are three methods: The European Central Bank issues banknotes to rescue the euro; the euro zone issues euro bonds; or it creates a Europe rescue fund. However, these methods arc all difficult to carry out and may trigger inflation.If not rescued, three outcomes are possible: Southern European countries will leave the EU, which may lead to imported inflation; the euro zone breaks up and northern European countries issue new core currency, which may lead to sharp rises of the exchange rate and their economy may stagnate; or each country resumes its own currency, so that the currency of Germany, the European economic development engine, will appreciate sharply and export of German goods will be seriously affected, then debtor nations such as Greece and Spain will lose aid and corpse.There is another choice, or the only way out for the euro, which is to advance a uniform fiscal policy and establish a uniform country, just like the United States that was established as a federal country hundreds of years ago. But the question of whether the public and politicians of various countries have enough consensus needs to be researched.

The global financial crisis started the U. S. sub-prime mortgage crisis.

China Merchants Bank scored well in the financial and corporate-reputation categories, but it didn’t rank high in innovation and vision.

This year there was only one commercial bank in the top 10.

Alibaba’s consumer-auction site, Taobao, reached its gross merchandise volume to 200 billion yuan in 2010.

Passage 1

E-commerce leader Alibaba, com Ltd. came out on top of China’s company rankings in 2010, with high scores in the innovation and vision categories.Alibaba’s strong performance echoes the significant growth in China’s online e-commerce market.Deutschmark Bank forecasts that online sales will grow to 7. 2% of China’s total retail market by 2013, from 2% now.Alibaba’s consumer-auction site, Taobao, expects to double its gross merchandise volume to 400 billion yuan ( $ 60 billion) by the end of 2010.In the first half of this year, Alibaba posted a profit of 693 million yuan, or about $ 104 million, up about 40% from the year-earlier period.Other online companies that made the top 10 include Internet and mobile company Tencent Holdings Ltd. , China’s popular search engine Baidu Inc., and the travel booking site Ctrip. com International Ltd.Commercial bank China Merchants Bank slipped from last year’s top scat to No. 2. It was the only bank in the top 10 this year. Last year four of the top 10 were banks, including two of China’s big four; Bank of China Ltd. and Industrial & Commercial Bank of China Ltd.The banks, which tend to score well in the financial and corporate-reputation categories, didn’t rank high in innovation and vision, with the exception of China Merchants Bank.

The online sales will grow by 5. 2% of China’s total retail market from now till 2013.