【题目】 the single market

1、[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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2、[主观题]【翻译】However，even as the party promotes growth as a national priority，it worries about going too far.Inflation has recently climbed back into double digits，and the party press is issuing strident warnings，urging restraint on buyers and sellers alike.Rapid development is overwhelming China's antique transport networks.

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3、[主观题]【翻译】The major risk facing this highly trade-oriented region is the potential for sluggishness or disruption in world-trade flows.Economic weakness in some of the region's traditional export markets has underlined the importance of market diversification，including a further strengthening of ties within the region.Increasingly buoyant intraregional trade in East Asia may be viewed as evidence of an ongoing process of“market-oriented”regional integration，a development that could partially offset lackluster progress in the area of multilateral trade agreements.

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4、[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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5、[主观题]【翻译】The strongest signal came last week，when Mickey Kanter，the U.S.trade representative，moved quickly to cite the 12-nation European Community for“intolerable”discrimination against U.S.companies seeking government contracts within the community.The administration will begin retaliating in six weeks if EC policies remain unchanged.

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