2020商务英语中级写作范文：贸易

　　China's trade

　　Surplus to requirements 顺差的需要

　　Why is China’s trade surplus growing when its exports have collapsed?

　　为什么中国的出口大幅下降时，贸易顺差却在增长?

　　THIS week revised figures revealed that China overtook Germany in 2007 to become the world’s third-biggest economy. At the start of last year China also looked set to become the world’s biggest exporter, but a slump in exports in the final months of the year meant they remained smaller than Germany’s. China’s exports tumbled by 13% (in dollar terms) in the fourth quarter, leaving them 3% lower in December than a year earlier. Despite this, China’s trade surplus rose to a record $457 billion at an annual rate in the fourth quarter—50% bigger than in the same period of 2007. What is going on?

　　本周，修正后的数字显示中国在2007年已经超越德国成为世界第三大经济体。在去年初，中国也目标成为世界上最大的出口国，但是年末数月出口的大幅下落意味着他们仍然排在德国之后。按照美元来计算，中国的出口额在第四季度下降了13%，比一年前同期少了3%。尽管如此，中国的贸易顺差在第四季度却以全年增速上升到创纪录的4570亿美元，比2007年同期增长了50%。这其中到底有何玄机?

　　In the first half of 2008 China’s trade surplus did indeed shrink (see chart). But since then, although exports slumped, imports fell by much more—down by 21% in the 12 months to December. The slide in both exports and imports was exacerbated by the global credit freeze, which has made it harder for companies around the world to get letters of credit to guarantee payment. Imports were also dragged down by cheaper oil and commodity prices, and by weaker imports of materials and components used to make exports (over 50% of total imports).

　　2008年上半年，中国的贸易顺差确实出现了缩水(见表)。但是自那以后，尽管出口大跌，但是进口跌的更惨——到12月时，12个月内下跌了21%。进出口双双下滑由于受到全球信贷停滞影响而加剧。这是因为信用冻结导致全世界的公司更加难以获得信用证从而保证支付。出口同样也受到拖累，其下跌主要是由于更廉价的原油和商品价格，以及原材料和用于出口产品的部件进口(占到进口总量的50%以上)表现疲软。

　　But a more worrying reason why China bought less from the rest of the world is that its domestic demand has weakened. Consumer spending and manufacturing investment have so far held up reasonably well, but construction—a big user of imported raw materials—has collapsed.

　　但是关于中国进口下降的一个更令人忧虑的原因是：中国的国内需求减小。消费支出和生产投资目前的收缩尚且适当，但是建筑业作为进口原材料的使用大户也出现了急剧下滑。

　　With most of the world in recession, China’s exports will continue to slide this year. Nomura forecasts a drop of 6%—the first annual decline for more than 25 years. Imports, on the other hand, are expected to increase. By mid-year, the government’s planned massive increase in infrastructure spending will boost imports of raw materials and machinery. If so, China’s trade surplus will shrink in 2009.

　　随着全球大部分地区陷入衰退，中国的出口今年将继续下滑。野村证券预测的下滑是6%，为25年来的首次下滑。另一方面，进口预计将增长。到年中时，政府计划的基础设施投入大幅增长将会推动原材料和机械进口。这样的话，中国2009年的贸易顺差将会缩水。

　　The collapse in exports and the consequent job losses in southern China have triggered speculation that the government might try to push down the value of the yuan. But not only would this provoke a protectionist backlash from America’s new government, it would also do little to help producers. China’s problem is weak foreign demand, not competitiveness. The best way for China to support its economy—and to help unwind global trade imbalances—is to bolster domestic demand.

　　出口剧减加上随之而来的中国南方的失业会导致政府考虑人民币贬值。但这将不仅激起美国新政府的保护主义反弹，对生产者也帮助甚小。中国的问题是在于疲软的国外需求，而不是竞争力。支持中国经济乃至帮助全球贸易摆脱不平衡的方法，是加强内需。

　　One piece of good news this week is that, following interest-rate cuts and the government’s scrapping of credit restrictions, total bank loans jumped by 19% in the 12 months to December, up from growth of 14% last summer. China is perhaps the only big economy where credit growth has heated up in recent months. If that is sustained, it could help to boost domestic spending.

　　本周的一个好消息是：随着减息和政府去除信贷限制，银行信贷总额到12月的12个月中从去年夏天的14%猛增19%。中国也许是最近几个月内世界大经济体中唯一出现信贷增长加速的地方。如果增速持续，它将促进内需支出。

　　China certainly cannot rely on exports any more. Becoming the world’s biggest exporter will be of little comfort if global trade is spiralling downwards.

　　中国决不能再依赖出口。如果全球贸易持续下降，成为世界最大的出口国亦将无益。

　　China's trade

　　Surplus to requirements 顺差的需要

　　Why is China’s trade surplus growing when its exports have collapsed?

　　为什么中国的出口大幅下降时，贸易顺差却在增长?

　　THIS week revised figures revealed that China overtook Germany in 2007 to become the world’s third-biggest economy. At the start of last year China also looked set to become the world’s biggest exporter, but a slump in exports in the final months of the year meant they remained smaller than Germany’s. China’s exports tumbled by 13% (in dollar terms) in the fourth quarter, leaving them 3% lower in December than a year earlier. Despite this, China’s trade surplus rose to a record $457 billion at an annual rate in the fourth quarter—50% bigger than in the same period of 2007. What is going on?

　　本周，修正后的数字显示中国在2007年已经超越德国成为世界第三大经济体。在去年初，中国也目标成为世界上最大的出口国，但是年末数月出口的大幅下落意味着他们仍然排在德国之后。按照美元来计算，中国的出口额在第四季度下降了13%，比一年前同期少了3%。尽管如此，中国的贸易顺差在第四季度却以全年增速上升到创纪录的4570亿美元，比2007年同期增长了50%。这其中到底有何玄机?

　　In the first half of 2008 China’s trade surplus did indeed shrink (see chart). But since then, although exports slumped, imports fell by much more—down by 21% in the 12 months to December. The slide in both exports and imports was exacerbated by the global credit freeze, which has made it harder for companies around the world to get letters of credit to guarantee payment. Imports were also dragged down by cheaper oil and commodity prices, and by weaker imports of materials and components used to make exports (over 50% of total imports).

　　2008年上半年，中国的贸易顺差确实出现了缩水(见表)。但是自那以后，尽管出口大跌，但是进口跌的更惨——到12月时，12个月内下跌了21%。进出口双双下滑由于受到全球信贷停滞影响而加剧。这是因为信用冻结导致全世界的公司更加难以获得信用证从而保证支付。出口同样也受到拖累，其下跌主要是由于更廉价的原油和商品价格，以及原材料和用于出口产品的部件进口(占到进口总量的50%以上)表现疲软。

　　But a more worrying reason why China bought less from the rest of the world is that its domestic demand has weakened. Consumer spending and manufacturing investment have so far held up reasonably well, but construction—a big user of imported raw materials—has collapsed.

　　但是关于中国进口下降的一个更令人忧虑的原因是：中国的国内需求减小。消费支出和生产投资目前的收缩尚且适当，但是建筑业作为进口原材料的使用大户也出现了急剧下滑。

　　With most of the world in recession, China’s exports will continue to slide this year. Nomura forecasts a drop of 6%—the first annual decline for more than 25 years. Imports, on the other hand, are expected to increase. By mid-year, the government’s planned massive increase in infrastructure spending will boost imports of raw materials and machinery. If so, China’s trade surplus will shrink in 2009.

　　随着全球大部分地区陷入衰退，中国的出口今年将继续下滑。野村证券预测的下滑是6%，为25年来的首次下滑。另一方面，进口预计将增长。到年中时，政府计划的基础设施投入大幅增长将会推动原材料和机械进口。这样的话，中国2009年的贸易顺差将会缩水。

　　The collapse in exports and the consequent job losses in southern China have triggered speculation that the government might try to push down the value of the yuan. But not only would this provoke a protectionist backlash from America’s new government, it would also do little to help producers. China’s problem is weak foreign demand, not competitiveness. The best way for China to support its economy—and to help unwind global trade imbalances—is to bolster domestic demand.

　　出口剧减加上随之而来的中国南方的失业会导致政府考虑人民币贬值。但这将不仅激起美国新政府的保护主义反弹，对生产者也帮助甚小。中国的问题是在于疲软的国外需求，而不是竞争力。支持中国经济乃至帮助全球贸易摆脱不平衡的方法，是加强内需。

　　One piece of good news this week is that, following interest-rate cuts and the government’s scrapping of credit restrictions, total bank loans jumped by 19% in the 12 months to December, up from growth of 14% last summer. China is perhaps the only big economy where credit growth has heated up in recent months. If that is sustained, it could help to boost domestic spending.

　　本周的一个好消息是：随着减息和政府去除信贷限制，银行信贷总额到12月的12个月中从去年夏天的14%猛增19%。中国也许是最近几个月内世界大经济体中唯一出现信贷增长加速的地方。如果增速持续，它将促进内需支出。

　　China certainly cannot rely on exports any more. Becoming the world’s biggest exporter will be of little comfort if global trade is spiralling downwards.

　　中国决不能再依赖出口。如果全球贸易持续下降，成为世界最大的出口国亦将无益。

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