中国

These economic entities have been growing before the economic crises and are speeding up in the succedent crises.

与此同时，作为新兴经济体的典型代表，中国有效应对了这场危机，中国经济快速复苏也让其他国家受益，这增强了中国影响力，中国正成为世界经济的一支稳定力量。

On the basis of Chinese characteristic, the writer bring forward to take advantage of chinese economy and set up indigenous innovation strategy of chinese economics. In the first place, we should synthetize western non-mainstream economics by traditional chinese philosophy.

在此基础上，本文以立足于中国特定的情境和脉络，充分发挥中国经济学的后发优势为着眼点，对中国经济学的自主创新战略提出构想和建议，并指出，中国经济学的自主创新可以从以下四个方面着手进行。

For the security market with restricted borrowing and short sale unallowed, Options pricing formula are advanced, and the relation between them and Black-Scholes Options pricing formula is discussed. The essence of Black-Scholes Options pricing formula is set forth. To the security market with restricted borrowing and short sale unallowed, stock returns risk pricing formula is advanced and the demonstration analysis of China security market is provided. From the demonstration analysis, arbitrage exists in China security market, which can be applied to explain the riddle of a great deal of China bank money and hot money swarming into China security market.

本文在B-S期权定价的基础上，直接利用股票本身的参数推导出股票收益率风险的定价公式；对不允许融资和卖空的证券市场，给出了看涨期权和看跌期权的定价公式，并讨论了他们和相应B-S期权定价公式之间的关系；对B-S期权定价公式的本质做出了阐述；对不允许融资和卖空的证券市场，给出了股票收益率风险的定义；利用股票收益率风险的新定义，对中国证券市场进行实证分析，得出中国证券市场存在套利，解释了2006年和2007年中国大量银行资金和国外热钱流向中国股市之谜。

From the motivation of the optimizing and upgrading of industrial structure, in the international market structure of uncomplete competition, the developing nations, limited by internal finance, require unequilibrium strategy and promote the development of strategic industry by strategic trade policy and therefore promote industrial structure optimizing and upgrading.

基于上述几个方面的认识和中国产业结构调整和产业组织存在的问题以及基于战略性贸易政策在理论和实践上的重要意义，鉴于中国国内以战略性贸易政策为导向来对中国产业结构战略性调整和产业组织的研究尚欠深入的现状，因此，在经济全球化的大背景下，从战略性贸易政策理论的角度研究中国产业结构调整和产业组织问题就显得非常必要。

In particular in the 160 years and more since the Opium War in 1840, the Chinese people have fought courageously and unyieldingly to rid themselves of poverty and backwardness and to realize national rejuvenation, thus profoundly changing the destiny of the Chinese nation.

特别是从1840年鸦片战争以来的160多年间，中国人民为摆脱积贫积弱的境遇，实现民族复兴，前仆后继，顽强斗争，使中华民族的命运发生了深刻变化。95年前，中国人民通过辛亥革命推翻了统治中国几千年的君主专制制度，为中国的进步打开了闸门。

In particular in the 160 years and more since the Opium War in 1840, the Chinese people havefought courageously and unyieldingly to rid themselves of poverty and backwardness and to realize national rejuvenation, thus profoundly changing the destiny of the Chinese nation. Ninety-five years ago, the Chinese people launched the Revolution of 1911 that overthrew the feudal autocracy which had ruledChina for several thousand years and opened the door to China's progress.

特别是从1840年鸦片战争以来的160多年间，中国人民为摆脱积贫积弱的境遇，实现民族复兴，前仆后继，顽强斗争，使中华民族的命运发生了深刻变化。95年前，中国人民通过辛亥革命推翻了统治中国几千年的君主专制制度，为中国的进步打开了闸门。

In particular in the 160 years and more since the Opium War in 1840, the Chinese people have fought courageously and unyieldingly to rid themselves of poverty and backwardness and to realize national rejuvenation, thus profoundly changing the destiny of the Chinese nation. Ninety-five years ago, the Chinese people launched the Revolution of 1911 that overthrew the feudal autocracy which had ruled China for several thousand years and opened the door to Chinas progress.

特别是从1840年鸦片战争以来的160多年间，中国人民为摆脱积贫积弱的境遇，实现民族复兴，前仆后继，顽强斗争，使中华民族的命运发生了深刻变化。95年前，中国人民通过辛亥革命推翻了统治中国几千年的君主专制制度，为中国的进步打开了闸门。

In particular in the 160 years and more since the Opium War in 1840, the Chinese people have fought courageously and unyieldingly to rid themselves of poverty and backwardness and to realize national rejuvenation, thus profoundly changing the destiny of the Chinese nation. Ninety-five years ago, the Chinese people launched the Revolution of 1911 that overthrew the feudal autocracy which had ruled China for several thousand years and opened the door to China's progress.

特别是从1840年鸦片战争以来的160多年间，中国人民为摆脱积贫积弱的境遇，实现民族复兴，前仆后继，顽强斗争，使中华民族的命运发生了深刻变化。95年前，中国人民通过辛亥革命推翻了统治中国几千年的君主专制制度，为中国的进步打开了闸门。

In particular in the 160 years and more since the Opium War in 1840, the Chinese people have fought courageously and unyieldingly to rid themselves of poverty and backwardness and to realize national rejuvenation, thus profoundly changing the destiny of the Chinese nation. Ninety-five years ago, the Chinese people launched the Revolution of 1911 that overthrew the feudal autocracy which had ruled China for several thousand years and opened the door to China's progress.

特别是从1840年鸦片战争以来的160多年间，中国人民为摆脱积贫积弱的境遇，实现民族复兴，前仆后继，顽强斗争，使中华民族的命运发生了深刻变化。95年前，中国人民通过辛亥革命****了统治中国几千年的君主****制度，为中国的进步打开了闸门。

In particular in the 160 years and more since the Opium War in 1840, the Chinese people have fought courageously and unyieldingly to rid themselves of poverty and backwardness and to realize national rejuvenation, thus profoundly changing the destiny of the Chinese nation. Ninety-five year s ago , the Chinese people launched the Revolution of 1911 that overthrew the feudal autocracy which had ruled China for several thousand year s and opened the door to China's progress.

特别是从1840年鸦片战争以来的160多年间，中国人民为摆脱积贫积弱的境遇，实现民族复兴，前仆后继，顽强斗争，使中华民族的命运发生了深刻变化。95年前，中国人民通过辛亥革命推翻了统治中国几千年的君主专制制度，为中国的进步打开了闸门。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。