贸易顺差

Based on China' s stylized facts behind foreign trade and a brief review of trade theories in new classicalism, Keynesianism, monetarism and intertemporal approach of current account , a theoretical model is built.

在新古典主义、凯恩斯主义、货币主义和八十年代以后的新古典宏观经济学的带动下，理论界对贸易余额的研究方向也不断发展和完善，尽管这样，仅仅靠这些理论还不足以解释类似中国所经历的贸易顺差问题。

Unfortunately, that may well prove temporary: first, your stimulus programme, with its reliance on massive credit expansion, may prove unsustainable; second, the decline in China's trade surplus is largely the result of the crisis-induced collapse in world trade; and, third and most important, China has embarked on currency deprecation by locking the renminbi to the falling dollar.

不幸的是，这种缩减很可能只是暂时的：首先，贵国的刺激方案依赖于大规模信贷扩张，可能难以维续；其次，中国贸易顺差的减少，主要是金融危机导致的世界贸易萎缩的结果；最后一点，也是最重要的一点，由于钉住了不断贬值的美元，人民币也在贬值。

Further said that, the present world trade pattern had decided occupies for a long time the trade deficit country incapably after the domestic currency (no matter it whether belongs to world currency) to revalue the exportation growth which the realization sends, on the contrary, occupies the trade surplus country to have ability for a long time the import growth and following after which sends first through the domestic currency revaluation realization sends the exportation growth.

进一步说，目前的世界贸易格局决定了长期处在贸易逆差的国家无力通过本国货币(不论其是否属于世界货币)升值实现后发的出口增长，相反，长期处在贸易顺差的国家则有能力通过本国货币升值实现先发的进口增长和随之而来的后发出口增长。

The party's trade surplus is the net profit into the money; But the trade deficit side, it is the net pay the money.

而贸易顺差的一方，就是净赚进了钱；而贸易逆差的一方，则是净付出了钱。

China's big surplus in its trade with the United States has become a global concern, he said.

他说，在中美贸易中，中国巨大的贸易顺差已成为全球关注的焦点。

If the U.S. was running a $.6 trillion current-account surplus, commentators worldwide would violently condemn our policy, viewing it as an extreme form of "mercantilism"– a long-discredited economic strategy under which countries fostered exports, discouraged imports, and piled up treasure. I would condemn such a policy as well. But, in effect if not in intent, the rest of the world is practicing mercantilism in respect to the U.S., an act made possible by our vast store of assets and our pristine credit history. Indeed, the world would never let any other country use a credit card denominated in its own currency to the insatiable extent we are employing ours. Presently, most foreign investors are sanguine: they may view us as spending junkies, but they know we are rich junkies as well.

换个角度来说，如果美国现在享有的是 6，000 亿美元的贸易顺差的话，其它国家一定会立刻跳出来谴责我们的贸易政策，将之视为重商主义，也就是长久以来，为人所垢病的鼓励出口，压抑进口，囤积财富的经济政策，我对这种做法也期期以为不可，但事实上就算不是有意的，目前世界上其它国家确实正对美国实行重商主义，觊谀我国丰厚的资产以及深厚的家底，确实除了美国以外，世界上再也没有其它国家可以享有几乎无上限的信用额度，截至目前为止，大部份的外国人还是相当乐观，他们认定我们是花钱如流水的败家子，而且是极其富有的败家子。

If the US was running a $.6 trillion current-account surplus, commentators worldwide would violently condemn our policy, viewing it as an extreme form of "mercantilism"– a long-discredited economic strategy under which countries fostered exports, discouraged imports, and piled up treasure. I would condemn such a policy as well. But, in effect if not in intent, the rest of the world is practicing mercantilism in respect to the US, an act made possible by our vast store of assets and our pristine credit history. Indeed, the world would never let any other country use a credit card denominated in its own currency to the insatiable extent we are employing ours. Presently, most foreign investors are sanguine: they may view us as spending junkies, but they know we are rich junkies as well.

换个角度来说，如果美国现在享有的是6000亿美元的贸易顺差的话，其他国家一定会立刻跳出来谴责我们的贸易政策，将之视为重商主义，也就是长久以来，为人所垢病的鼓励出口、压抑进口、囤积财富的经济政策，我对这种做法也期期以为不可，但事实上就算不是有意的，目前世界上其它国家确实正对美国实行重商主义，觊谀我国丰厚的资产以及深厚的家底，确实除了美国以外，世界上再也没有其它国家可以享有几乎无上限的信用额度，截至目前为止，大部份的外国人还是相当乐观，他们认定我们是花钱如流水的败家子，而且是极其富有的败家子。

The negative trade in goods (imports marginally outweighing exports, including re-exports) is compensated for almost twofold by the positive trade in services.

香港在货物贸易上的逆差（进口额仅多於出口额，包括转口在内），获得近两倍的服务贸易顺差的补偿。

Mainly; The export of deep processed product represented by furniture increases rapidly, but the international Chinese wood furniture anti-dumping situation is serious; Log, saw material, paper, paper pulp still forest products imported to rely on product mainly The overall state of international trade of the wooden forest products in China is shown as: It result in seriously imbalance between supply and demand not domestic last international market raw materials import not alleviating; The comparative advantage of processing industry represented by labor intensity is remarkable, the exit increase for the panel products (the plywood , single-board ); The international competitiveness of the deep processed product improves progressively , the international competition contradiction still exists; The lasting unfavorable balance of revenue and expenditure of trade, is the strong support index of coordinating the whole China's favorable trade balance..

中国木质林产品国际贸易总体状况表现为：国内供需矛盾导致严重依赖国际市场原材料进口缓解；以劳动密集为代表的加工业比较优势显著，板材产品出口增加；深加工产品国际竞争力逐步提高，仍存在国际竞争矛盾；贸易收支持续逆差，是协调整体中国贸易顺差的有力支撑指标。

But whether this, or a succession of revaluations, eliminates China's trade surplus will have little effect on the more important problem of global trade imbalances, and particularly on the US trade deficit.

然而，此次升值或随后的多次升值，无论能否消除中国的贸易顺差，对全球贸易失衡这一更为重要的问题都影响甚微，特别是对美国贸易逆差的影响。

Neither the killing of Mr Zarqawi nor any breakthrough on the political front will stop the insurgency and the fratricidal murders in their tracks.

在对危险的南部地区访问时，他斥责什叶派民兵领导人对中央集权的挑衅行为。

In fact,I've got him on the satellite mobile right now.

实际上 我们已接通卫星可视电话了