2011年3月高级口译真题与答案.doc

2011年3月高级口译考试真题和答案 【Spot Dictation】 Renowned U.S. economist, John Rutledge, who helped frame the fiscal policies of two former U.S. presidents, warned that an abrupt rise in China’s currency could lead to another Asian financial crisis. The founder of Rutledge Capital told the media that if the yuan rises ____________________(1) it would discourage foreign direct investment in China while ____________________(2) by market speculators. Currency change is more difficult for investors and ____________________(3). The Chinese currency has appreciated by ____________________(4) since July 2005 when the country allowed the yuan to ____________________(5) within a daily band of 0.3 percent. The analysts are expecting the currency to rise ____________________(6) by the end of this year. sssBut if the yuan rose 20 to 30 percent, as some U.S. politicians are demanding, it would ____________________(7) causing a recession and deflation. Similar advice to allow an abrupt appreciation of a currency led to ____________________(8) in 1997, and came very close to destroying ____________________(9). The U.S. economist says that investors want foremost to ____________________(10) associated with large fluctuations in currency and inflation. They ____________________(11) after evaluating risks to benefits such as ____________________(12). A rising yuan would drive up labor costs for foreign investors and would not ____________________(13). Earlier reports said that currency speculators had pumped ____________________(14) U.S. dollars into China by the end of last year, with another 70 billion U.S. dollars ____________________(15) in the first three months of this year. There is no way to ____________________(16) of this type of investment and many economists disagree that ____________________(17) is so high. Instead of further appreciating its currency, China should make the yuan ____________________(18). If the yuan were more easily converted into foreign currencies it would allow Ch