[主观题] 【翻译】The debt problems confronting a number of developing countries have reinforced China„s determination to introduce foreign technology by means of direct investment and concessionary finance rather than by raising substantial sums of money on the international capital markets.The authorities do not consider it appropriate to incur large amounts of external debt until a number of practical bottlenecks in the economy，such as an inadequate transport network and energy constraints，have been tackled.

1、[名词解释]merger

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2、[主观题]【翻译】Financial stress brought on by excessive debt in the household and corporate sectors was an example of another kind of structural problem，in particular for the economies of Japan and the United States.Financial institutions in these two countries adopted more conservative lending policies，curtailing financing of higher-risk projects such as commercial construction and highly leveraged corporate transaction.A number of weaker institutions were also consolicated through bankruptcy，merger and reorganization.

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3、[主观题]【翻译】Although the weakness in demand in the United States led to a sharp decline in short-term dollar interest rates—a positive development for many developing countries—it also contributed to a drop of over 6 percent in nominal commodity prices and to a slackening，to 3 percent，in the growth of world trade.These trends were compounded by worsening economic conditions in the soviet Union and its successor states，where a growing shortage of foreign exchange led to a compression of import from Eastern Europe and an acceleration of certain commodity exports to earn hard currencies.

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4、[主观题]【翻译】Yet in its current dour mood，Europe risks almost overlooking the revolutionary step forward it has taken in creating the world's largest and wealthiest barrier-free market—and on a continent where，for centuries，economic battles have led to some of history's bloodiest wars.But perhaps the major reason is the dark economic clouds now hanging over Europe.One of the central justifications for the single market was its ability to create greater prosperity，but it is making its debut just as Europe traverses one of its roughest economic storms in years.

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5、[主观题]【翻译】During the 1950s China exported agricultural products to the USSR and East European countries in return for manufactured goods and the capital equipment required for the country„s industrialization programme which placed emphasis on the development of heavy industry.

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