【题目】 securities

1、[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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2、[主观题]【翻译】In some ways，Mr.Clinton and his advisers are following the same well-trod path as the Bush administration，which threatened sanctions against the Community last year and walked away from GATT negotiations rather than sign an agreement that would provide only small gains for U.S.companies.

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3、[主观题]【翻译】WASHINGTON-The Clinton administration is drawing the first lines of a tougher U.S.policy on trade，signaling to Europe and Japan that it will demand fairer treatment for American exports and is prepared to see relationships with U.S.trading partners get worse before they get better.

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4、[主观题]【翻译】A farfetched prediction？The new American administration doesn't think so.Bill Clinton has appointed China hands to top Asia posts at the state and Treasury departments.When critics called the appointments a slight to Japan，the leading Pacific economic power，U.S.Deputy Treasury Secretary Roger Altman explained the administration's reasoning：by early in the next century，he said，China may replace Japan in importance to the U.S.as an economic partner.Japan
recognizes the rise of China.As a warning shot in an intensifying rivalry，Tokyo last week put punitive import tariffs on Chinese steel.

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5、[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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