英译中

　　If there's a threat of dangerous deflation-a general fall in prices-the causes lie as much in Europe and Japan as in the United States. The inevitable collapse of America's speculative boom need not have been especially damaging if the world's other advanced economies were healthy. Their expanding appetite for imports would have bolstered the United States and so-called emerging market countries, from Brazil to South Korea. The trouble is that other advanced economies aren't healthy.

　　Deflation could emerge from simultaneous slumps in the world's three major economies. Prices drop because there's too little global demand chasing too much global supply-everything from steel to shoes. Japan's ills are well known its banks are awash in bad loans. Less understood (at least in the United States) is the fact the Europe's troubles stem significantly from Germany. Germany is Europe's "sick man", just as Japan is Asia's. Only 15 years ago, these countries seemed poised to assume leadership of the world economy. Now they are dragging it down.

　　【参考译文】

　　如果通货紧缩--即(消费品)价格普遍下跌(的现象)--会带来危害，欧洲、日本同样还有美国难逃其咎。如果世界上其它发达经济体良好，(即使)美国投机热不可避免地覆灭，(也)不会带来特别的危害。那些国家热衷于进口，确实给美国和一些所谓新兴市场国家如巴西、韩国打了一针强心剂。不过)问题在于其它发达经济体并不完善。如果全球三大经济体同时下滑，通货紧缩就会产生。从钢铁业到鞋业，全球需求急剧萎缩，而供给却源源不断，从而/这样就会导致商品价格下跌。众所周知的是，日本的症结在于银行不良贷款的冲击。但有一点全世界(至少美国)搞不太明白，即欧洲国家的经济问题主要由德国引起。德国是欧洲的病根，就像日本是亚洲的病根一样，仅仅15年前，这些国家曾信誓旦旦地想要扛起全球经济的领导大旗，而现在却在拖后腿。

　　中译英

　　中国改革开放以来，国民经济年均增长速度达到9.7%。中国已经发展成为一个全球极富吸引力的大市场。世界各国和地区不少有远见卓识的企业家，都将目光投向了中国，投向了西部，并从投资活动中获得了丰厚的回报。中国加入世贸组织后，外商参与中国西部开发的机会越来越多。西部大开发一定能成为沟通世界各国和中国的一座桥梁，促进中国和世界经济共同发展，共同繁荣。

　　【参考译文】

　　Since the adoption of opening and reform policy, China's annual growth of national economy has reached 9.7%. China has developed into a big market attractive to the world. Numerous/A number of entrepreneurs of foresight around the world have cast their eye to China, especially the west China and gained abundant profit/profitability from investment. After China's entry into the WTO, there are more and more opportunities for foreign businessmen to join in the development of the West. The Great Western Development is sure to be a bridge between China and the rest world, which promotes/promoting the common development and prosperity of China and the world.