On the contrary, according to the IMF, “weakness has been contained to certain portions of the sub-prime market (and, to a lesser extent, the Alt-A market), and is not likely to pose a serious systemic threat."

恰恰相反，按照国际货币基金组织的观点，“缺陷被限制在了次贷市场的某些特定部分（比方说Alt-A细分市场），因此不太可能造成严重的系统性威胁。”

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 16.02.2011

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 16.02.2011

But, between the sub-prime US mortgage crisis and the dollar’s ongoing decline, America’s exorbitant privilege now looks a bit shaky.

但是，在美国次级房贷危机已经正在下滑的美元当中，美国的嚣张特权现在似乎有点不稳了。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 15.01.2011

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 15.01.2011

The average increment ratio for the income from main operation during three years shall refer to the average increment of the enterprise's prime operation in three consecutive years, of which the calculation formula is:

三年主营业务收入平均增长率是指企业主营业务连续三年的平均增长情况，计算公式为：

© 中国投资指南

http://www.fdi.gov.cn/index.htm 30.04.2011

© Invest in China

http://www.fdi.gov.cn/index.htm 30.04.2011

As economic deregulation increased, financial crises began erupting: since 1990, there have been three distinct crises in Latin America, one each in Russia and Asia, the Internet bubble, and now the sub-prime crisis.

经济管制解除增加之际，金融危机开始爆发。从1990年以来，拉美、俄国和亚洲出现三起突出的危机，又有互联网泡沫，现在又是次级房贷危机。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 13.01.2011

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 13.01.2011

It was 30 years ago that former Prime Minister Takeo Fukuda, the father of today’s prime minister, signed a Peace and Friendship Treaty with China.

就在30年前，现任日本首相的父亲，前任日本首相福田赳夫，与中国签订了《和平友好条约》。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 27.10.2010

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 27.10.2010

China’s currency peg has also come in handy for Europe in its fight to keep inflation in check, while its monetary policy remains constrained by the sub-prime crisis.

当欧洲货币政策受制于次贷危机的时候，中国的货币挂钩政策也在欧洲控制通货膨胀的战斗中发挥了重要作用。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 23.01.2011

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 23.01.2011

If Denmark’s prime minister, Anders Fogh Rasmussen were to succeed as a compromise candidate between Juncker and Blair, as is widely suggested, the presence of two center-right Scandinavians would present a problem.

如果丹麦首相拉斯穆森正如许多人所建议的那样成为容克尔和布莱尔之间的妥协人选，那么，两个中间偏右的斯堪的那维亚人就会成为麻烦。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 16.02.2011

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 16.02.2011

In the sadly immortal words of Victor Chernomyrdin, Russia’s prime minister during the Yeltsin era, “We wanted for the better, but it turned out to be like always.”

俄罗斯重复着叶利钦时代俄国总理丘诺米丁（Victor Chernomyrdin）可悲的不朽名言，“我们希望国家变得更好，但结果却总是很难尽如人意。”

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 24.01.2011

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 24.01.2011

Recall Yevgeny Primakov – or Putin at the end of Boris Yeltsin’s last presidential term, when it was obvious to everyone that the prime minister was running the country.

想一想普里马科夫或者叶利钦最后一个总统任期末尾的普京，当时每一个人都很清楚是总理在掌管着这个国家。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 23.01.2011

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 23.01.2011

Much depends on who is prime minister; heavyweight politicians holding the office can potentially eclipse the president.

关键是要看是谁在担任总理；如果执掌行政部门的是一位重量级的政治家，那么他就有可能凌驾于总统之上。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 23.01.2011

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 23.01.2011

After the War, it was a prime EU objective to moderate nationalism and promote regionalism in Germany, a feat that was accomplished to the benefit of all Europeans.

战争结束后，控制民族主义、推动地区主义成了欧盟在德国的主要目标，这一目标最终实现也让所有的欧洲民众 都获益匪浅。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 29.10.2010

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 29.10.2010

Today, the defunct economic theory is that a rapid shift in preferences – colorfully called a “reduced appetite for risk” – is the key reason behind the current sub-prime mortgage and financial crisis.

今天，过时的经济理论是发生迅速转变的偏好——被美称为“弱化了的对风险的渴望”是当前次级抵押以及金融危机背后的主要原因。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 23.12.2010

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 23.12.2010

The sub-prime crisis has so far affected mainly financial markets in the US and Europe.

次级房屋贷款危机目前为止主要影响到美国和欧洲的金融市场。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 24.01.2011

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 24.01.2011

Against the backdrop of the sub-prime crisis, the disasters at many financial institutions, and the weakening of the stock market, these “masters of the universe” seemed less omniscient than they did a short while ago.

在次贷危机、许多金融机构面临灾难和股市低迷的背景下，这些“世界统治者”似乎没有像他们前一段时间那样无所不知了。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 24.01.2011

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 24.01.2011

The Sunnis, who comprise at most 20% of the population, are given the state office with the greatest executive power, that of prime minister.

而仅占总人口20%的逊尼派穆斯林却被给予了拥有最高的国家行政权力的 首相职位。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 28.10.2010

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 28.10.2010