【题目】 【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.

1、[主观题]【翻译】Stock-taking of the open policy will come later this year when the National People„s Congress discusses the seventh five-year plan，which will run to the end of the decade.

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2、[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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3、[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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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】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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