英語(yǔ)口譯教程(第二版)--中級(jí) UNIT 12-14

9-4 The Information Age Text for Interpretation ;
Interpret the following passage from English into Chinese: ;
My topic today is "Information- A Valuable Commodity," ;
Let us take a look at the most important commodity is the world information. ;
The advancement of communication technology has given us the ability to ;
know and understand what is going to in any part of the world at any given time. ;
It has become imperative for us to understand the implications of ;
economic and political change and the impact that this has on foreign exchange rates ;
and the stock market. Financial institutions have put great emphasis on developing ;
technology that will enable us to have the edge on our competitors ;
in terms of analyzing the global information and distributing this to our customer base. ;
The growth in the number of independent news companies ;
combined with improved telecommunication has led to a boom in the level of coverage of ;
breaking news and a drop in the cost of obtaining that information. ;
Thus,the proprietary knowledge that was previously possessed by dealers ;
is now generally available to non-bank financial institutions and corporations. ;
This change immediately has led to a narrowing in the profit margin being ;
made from customer business and greater competition among ;
ealers for that business.Customers have been marketed more intensely ;
by an increasing number of financial institutions. ;
The corporate customer now receives more information analysis ;
and opinion from such a wide range of market players ;
that they themselves have more information available to them than ;
some of the lesser financial institutions. ;
The general response of customers to this huge flow of information ;
led to an increase in the level of business transacted as they seek to ;
take advantage of market opportunities. ;
The dramatic increase in information flow has been a key ;
influential factor in the financial market over the last 20 years. ;
My next lecture will focus on electronic dealing and broking, ;
and their impact on the marketplace.Your attendance is most welcome. ;
Sentences in Focus ;
Interpret the following sentences from English into Chinese: ;
1.Although the languages of various regions are so different ;
that they are mutually unintelligible, ;
they have a great deal in common in their basic principles, ;
and in the way they approach certain specific problems of communication. ;
2.One of the wonders about language and language use is that ;
with a finite set of rules speakers can produce and understand an infinite set of sentences, ;
3.The creative aspect of human language is not found in the communication system ;
of any other species. That is,human beings have the ability to ;
combine basic linguistic units to form an infinite set ;
of grammatical sentences,most of which are novel, ;
never before produced or heard. ;
4.The difference between a human brain and a computer can be ;
expressed in a single word:complexity, ;
5.The many billions of brain cells are interconnected in a vastly complicated ;
network that we can I begin to interpret as yet. ;
6.While the computer switch is just an on-off device, ;
the brain cell is itself possessed of a tremendously complex inner structure. ;
7.Our gene "program" is so much more enormously complex ;
that we might like to define "thinking" in terms of our creativity ;
in literature,art, science and technology. ;
8.The point of concern is that while programming the computer, ;
mankind is not only creating a servant, but also a threatening rival. ;
9.What I want to focus on is the principles that underlie computer programming. ;
10.New breakthroughs in biomedical technology are announced daily; ;
achievements such as the completion of the human genome project ;
portend much more serious changes to come. ;
11.We don't have to await the arrival of human genetic engineering ;
to foresee a time when we will be able to enhance intelligence, ;
memory,emotional sensitivity,as well as manipulate behavior in a host of other ways. ;
12.While many medical advances have ;
increased the quality of life for older people, ;
many have bad the opposite effect by prolonging only one aspect of life and ;
increasing dependency. ;
13.We could find ways to preserve bodily health but would fail ;
to put off age related mental deterioration. ;
14.Stem cell research might yield ways to grow new body parts, ;
but without a parallel curer for Alzheimer's. this wonderful new technology ;
would do no more than allow more people to persist in vegetative states for years ;
longer than is currently possible. ;
15.I should thank you for the privilege of speaking here and ;
for ensuring me such an attentive audience, ;
16.The advancement of telecommunication technology has given us the ability to ;
know and understand what is going on in any part of the world at any given time. ;
17.It has become imperative for us to understand the implications of ;
economic and political change and the impact that this has on the market of stocks, ;
securities and futures. ;
18.The dramatic increase in information flow ;
has been a major influential factor in the financial market over the last decade. ;
Unit 10 Interpreting Academic Speeches Chinese- English Interpretation ;
10-1 On Cultural Clashes Text for interpretation ;
Interpret the following passage from Chinese into English: ;
主席先生：能有機(jī)會(huì)在研 討會(huì)以“文化沖突與融合 ” 為題進(jìn)行發(fā)言，我謹(jǐn)向您 表示感謝。 ;
約翰遜博士在他的講話中 提出了“沖突論”的見解 。 約翰遜博士的理論是建筑 在這樣一種觀點(diǎn)之上的： ;
他認(rèn)為在后冷戰(zhàn)時(shí)期， 全球沖突源于文化沖突， 而文化沖突的焦點(diǎn)集中在 宗教和信仰的不同， ;
而非意識(shí)形態(tài)的不同，也 不是國(guó)與國(guó)之間在經(jīng)濟(jì)與 政治上的對(duì)抗。他認(rèn)為同 屬一個(gè)文明圈的國(guó)家將在 ;
沖突中集合在一起，信奉 儒教和伊斯蘭教的國(guó)家將 站在同一條戰(zhàn)線上，與 西方國(guó)家和世界其他地區(qū) ;
形成對(duì)抗，我對(duì)這樣一種 觀點(diǎn)深感不安。 約翰遜博士的沖突論表明 了許多西方國(guó)家對(duì)東亞， ;
尤其對(duì)中國(guó)近年來(lái)經(jīng)濟(jì) 持續(xù)增長(zhǎng)的一種失望而 又焦慮的心情，同時(shí) 反映了人們對(duì)西方文明 ;
的一種與日俱增的困惑 感和信心缺乏癥狀。 ;
我們承認(rèn)不同文化之間 的巨大差異，這些差異 有時(shí)可能會(huì)引起磨擦。 ;
然而，將這種磨擦夸大 其詞為世界政治沖突和 戰(zhàn)爭(zhēng)是一種誤導(dǎo)，是很 危險(xiǎn)的。 ;
倘若這種沖突對(duì)決策 產(chǎn)生影響作用，其危險(xiǎn) 性便越大。 ;
一些西方人士認(rèn)為， 其他國(guó)家的現(xiàn)代化意味 著對(duì)西方經(jīng)濟(jì)，政治和 社會(huì)制度與價(jià)值觀念 ;
仿效。我認(rèn)為，現(xiàn)代化 不意味著西方化。事實(shí) 上，亞洲的經(jīng)濟(jì)成功使 亞洲人民覺悟起來(lái)， ;
產(chǎn)生了文化認(rèn)同感。 他們開始重新思考西 方的社會(huì)與政治模式 ;
是否適合用于他們本 國(guó)，他們是否應(yīng)該建立 起自己的社會(huì)與政治 發(fā)展模式。 ;
我認(rèn)為，西方模式只是 通往現(xiàn)代化的一種途徑， 全然不是唯一的途徑， ;
或許很可能不是一條 最佳途徑。 ;
中國(guó)以及其他一些亞洲 國(guó)家的經(jīng)濟(jì)成功不是 簡(jiǎn)單模仿現(xiàn)代西方文明 的結(jié)果; ;
恰恰相反，我們的成功 代表了一種新文化的 誕生， ;
它代表了一種集東西方 傳統(tǒng)的優(yōu)點(diǎn)之大成的新 價(jià)值體系。 ;
我贊同許多東亞學(xué)者的 觀點(diǎn)，東方文明可以醫(yī) 治盛行于西方世界的 一些頑疾。 ;
西方世界個(gè)人自由的 泛濫導(dǎo)致了極端個(gè)人 主義，性關(guān)系混亂以及 過度的暴力行為， ;
對(duì)此我們決不可視而不 見。相反，東方社會(huì)的 自我約束性，集體責(zé)任 感以及溫厚儒雅的傳統(tǒng) ;
倒可以消除西方社會(huì)的 許多惡疾。 在這個(gè)信息時(shí)代，世界 已縮小為一個(gè)地球村。 ;
這個(gè)地球村里，不再有 什么涇渭分明的東方 世界和西方世界， ;
我們是生活在同一個(gè) 社區(qū)里的鄰里。因此， 我們彼此之間無(wú)需相互 沖突。 ;
我們之間的關(guān)系是一種 友好合作，平等互補(bǔ) 的關(guān)系。我們應(yīng)該相互 理解，相互學(xué)習(xí)， ;
和睦相處。 我的發(fā)言到此結(jié)束， 謝謝主席先生。 ;
10-2 Communicative Competence ;
Text for Interpretation ;
Interpret the following passage from Chinese into English: ;
人們聚在一起，無(wú)論做 什么總離不了說話。 我們生活在語(yǔ)言的世界 里。我們對(duì)家人說話， ;
對(duì)親屬說話，對(duì)朋友說 話，對(duì)同事說話，我們 還對(duì)陌生人說話。我們 面對(duì)面說話， ;
我們?cè)陔娫捓镎f話，我 們回答時(shí)還要說話。 ;
電話機(jī)和收音機(jī)在言語(yǔ) 海洋里起著推波助瀾的 作用。除了睡覺之外， ;
我們很少有不說話的時(shí) 候，我們甚至在睡夢(mèng)中 也會(huì)說話。有些人在 睡眠時(shí)會(huì)大聲說話。 ;
我們還會(huì)自言自語(yǔ)，有 時(shí)會(huì)對(duì)寵物說話。有時(shí) 對(duì)自己說話。 ;
我們是這個(gè)星球上唯一 能說話的動(dòng)物。 擁有語(yǔ)言，確切地說是 擁有創(chuàng)造性的語(yǔ)言， ;
較之任何其他屬性更能 將人類同其他動(dòng)物區(qū)別 開來(lái)。 ;
要理解人類就必須理解 那種使我們成為人的語(yǔ) 言。 ;
懂一種語(yǔ)言使你可以說 這門語(yǔ)言，你說的話也 可以被其他懂這種語(yǔ)言 的人聽懂。 ;
這意味著你能夠發(fā)出 表示某種概念或意義的 聲音，能夠聽懂或解釋 其他人發(fā)出的聲音。 ;
因此，懂得一種語(yǔ)言 不僅指了解這種語(yǔ)言 包含了哪些語(yǔ)音， ;
而且還指了解語(yǔ)音與 意義的關(guān)系。 你如果不懂某種語(yǔ)言， ;
別人用這種語(yǔ)言和你 說話時(shí)發(fā)出的聲音你 基本上無(wú)法理解， ;
這是因?yàn)榇蟛糠终Z(yǔ)音 與語(yǔ)義之間的關(guān)系是 任意確定的。 ;
懂得一種語(yǔ)言能使你 譴詞造句。懂得一種 語(yǔ)言意味你能夠說出 前人未說過的話， ;
也能聽懂在此之前無(wú) 人說過的話。語(yǔ)言學(xué)家 稱這種能力為語(yǔ)言運(yùn)用 的創(chuàng)造屬性。 ;
懂得一種語(yǔ)言包括懂得 哪些句子在某種場(chǎng)合中 使用是恰當(dāng)?shù)摹?;
這就是說，語(yǔ)言的使用 受到場(chǎng)合或上下文的 約束。 ;
當(dāng)一個(gè)人對(duì)另外一個(gè)人 說話時(shí)，他會(huì)根據(jù)不同 的對(duì)象使用不同的詞匯 和語(yǔ)氣。 ;
當(dāng)一個(gè)人說出一句話時(shí) 同樣這句話在不同的場(chǎng) 合、對(duì)不同的聽眾可以 包含不同的內(nèi)容。 ;
10-3 Chinese Calligraphy Text for Interpretation ;
Interpret the following passage from Chinese into English: ;
我很高興有機(jī)會(huì)向諸位 介紹中國(guó)書法這一寶貴 的文化遺產(chǎn)及其對(duì)中國(guó) 旅游業(yè)的貢獻(xiàn)。 ;
中國(guó)有句古話是這樣 說的:"山不在高， 有仙則名;水不在深， 有龍則靈。 ;
”中國(guó)書法好似山上之 仙、水中之龍。 ;
中國(guó)書法同其他書寫形 式有很大區(qū)別。 ;
漢字在其漫長(zhǎng)的發(fā)展史 中演化成許多不同的 藝術(shù)形式， ;
其中包括甲骨銘文、 青銅器銘文、篆書、 隸書、楷書、行書和 草書。 ;
許多漢字屬象形文字. 常可從字的形狀揣知 其義。 ;
無(wú)淪是刀刻書法還是筆 墨書法都可以通過字形 的夸張取得藝術(shù)效果。 ;
因此書法一直是一門研 究藝術(shù)。 ;
千百年來(lái)中國(guó)書法家傾 注了大量的心血研究書 法藝術(shù)的形式、 規(guī)則及理論。 ;
他們的成果對(duì)朝鮮、 日本和東南亞國(guó)家的 漢字書法家產(chǎn)生了巨大 的影響。 ;
這些國(guó)家的書法家經(jīng)常 不斷地訪問中國(guó)，探索 書法藝術(shù)。 ;
漢字的傳統(tǒng)書法并未受 到外界的影響，這是我 國(guó)的一大旅游資源。 ;
中國(guó)大多數(shù)旅游區(qū)都有 不可勝數(shù)的銘文石碑 (其中許多是刻在懸崖 峭壁上的銘文)、 ;
匾額和廳堂卷軸對(duì)聯(lián)。 以石碑聞名遐邇的桂林 七星巖內(nèi)各個(gè)朝代的銘 文隨處可見。 ;
旅游區(qū)的古代書法遺跡 皆以碑林和石刻為主。 例如建于1091年的 西安碑林”. ;
碑林區(qū)還留有大量的周 (公元前11世紀(jì)一公元 前256年)秦<公元前221 一公元前206年) ;
時(shí)期的石刻作品。 對(duì)于那些有興趣把書法 作為一種藝術(shù)形式來(lái) 研究的人士來(lái)說， ;
曲阜孔廟和泰山岱廟里 的石碑是必看無(wú)疑的。 ;
兩處都存有數(shù)百件書 法風(fēng)格各異的石刻碑 匾。 ;
中國(guó)歷史上許多詩(shī)人和 高僧在浪跡名山時(shí)皆 墨撒懸崖峭壁，以此 抒發(fā)感情。 ;
所幸的是，他們的許多 作品均被完好地保存下 來(lái)。 ;
除了石碑巖崖作品外， 在絲綢和紙張上行文留 字則是更為常見的書法 形式。 ;
漢字書法無(wú)論以何種 形式出現(xiàn)都將吸引海外 游客。 ;
10-4 Community Service Text for Interpretation ;
Interpret the following passage from Chinese into English: ;
女士們，先生們： 我很高興能夠參加本屆 社區(qū)服務(wù)國(guó)際學(xué)術(shù)研討 會(huì)，并作發(fā)言。 ;
社區(qū)服務(wù)是當(dāng)今各國(guó) 普遍關(guān)注的一個(gè)問題。 它不但是社會(huì)穩(wěn)定的 措施之一， ;
而且是社會(huì)進(jìn)步與發(fā)展 的需要。社區(qū)服務(wù)對(duì)于 解決某些社會(huì)問題， ;
改善人民生活，促進(jìn) 精神文明建設(shè)都有著 重要的作用。 ;
過去我國(guó)在較長(zhǎng)時(shí)間內(nèi) 沒有使用“社區(qū)服務(wù)”這 個(gè)名稱， ;
但是在實(shí)踐中做了許多 服務(wù)于社區(qū)居民的工 作， ;
例如我國(guó)許多城市的街 道委員會(huì)和里弄居民委 員會(huì)所做的許多工作， 屬于社區(qū)服務(wù)工作。 ;
改革開放以來(lái)，尤其是 自國(guó)家民政部在總結(jié)城 市社會(huì)福利改革經(jīng)驗(yàn)的 基礎(chǔ)上， ;
肯定和推廣社區(qū)服務(wù)的 經(jīng)驗(yàn)以來(lái)，社區(qū)服務(wù)在 全國(guó)范圍內(nèi)蓬勃展開。 ;
我國(guó)的國(guó)民經(jīng)濟(jì)和社會(huì) 發(fā)展“十五”計(jì)劃和2010 年遠(yuǎn)景目標(biāo)綱要明確提 出要積極發(fā)展社會(huì)福利 ;
事業(yè)和社區(qū)服務(wù)?？梢?預(yù)期，社區(qū)服務(wù)將引起 全社會(huì)的普遍關(guān)注. 并將有一個(gè)新的發(fā)展。 ;
當(dāng)然，我國(guó)社區(qū)服務(wù)的 發(fā)展還很不平衡，還有 許多不足之處和薄弱 環(huán)節(jié)。 ;
這些問題的解決，除了 政府加強(qiáng)領(lǐng)導(dǎo)予以解決 之外， ;
非常需要社會(huì)各方面以 及非政府組織的積極 努力. ;
需要廣大群眾的直接參 與，做出奉獻(xiàn)。這既是 過去實(shí)踐的經(jīng)驗(yàn)總結(jié)， ;
又是今后工作的努力 方向。 ;
我國(guó)社區(qū)服務(wù)起步較 晚，經(jīng)驗(yàn)不足。參加 這次研討會(huì)的歐美社區(qū) 服務(wù)學(xué)者， ;
以及來(lái)自東南亞國(guó)家和 地區(qū)的朋友們給我們帶 來(lái)了寶貴的經(jīng)驗(yàn)和意 見， ;
他們所作的學(xué)術(shù)報(bào)告對(duì) 進(jìn)一步促進(jìn)和改善我國(guó) 的社區(qū)服務(wù)工作， 必將產(chǎn)生積極的影響。 ;
句子精練 sen1tences in Focus ;
Interpret the following sentences from Chinese into English。 ;
1.我對(duì)全球沖突源于 文化沖突這樣一種觀點(diǎn) 深感不安。 ;
2.這種觀點(diǎn)反映了人 們對(duì)西方文明的前途懷 有一種與日俱增的困 惑感。 ;
3.亞洲的經(jīng)濟(jì)成功使 這個(gè)地區(qū)的人民覺悟 起來(lái)， ;
對(duì)自己的聰明才智與 創(chuàng)造力有了新的認(rèn)識(shí). ;
他們開始重新思考西方 的社會(huì)模式與政治模式 是否適用于他們本國(guó)。 ;
4.東亞的經(jīng)濟(jì)成功代 表了一種新文化的誕 生。 ;
代表了一種集東西方傳 統(tǒng)優(yōu)點(diǎn)之大成的新價(jià)值 體系的誕生。 ;
5.我贊同許多東亞學(xué) 者的觀點(diǎn)，東亞社會(huì) 的自我約束性、 ;
集體責(zé)任感以及溫厚 儒雅的傳統(tǒng)可以醫(yī)治 盛行于西方世界的許 多頑疾。 ;
6.在這個(gè)信息時(shí)代， 世界已縮小為一個(gè)地球 村，我們彼此之間無(wú) 需沖突， ;
我們之間的關(guān)系是一種 友好合作、平等互利、 和睦相處的關(guān)系。 ;
7.我們創(chuàng)造性地運(yùn)用語(yǔ) 言的能力較之任何其 他人類的屬性更能將我 們同動(dòng)物區(qū)別開來(lái)。 ;
8.懂得一門語(yǔ)言還包括 懂得哪些句子在某種場(chǎng) 合中使用是恰當(dāng)?shù)模?;
這就是說，語(yǔ)言的使用 受到場(chǎng)合或上下文的約 束。 ;
9.中國(guó)有句古話是這樣 說的：“山不在高， 有仙則名，水不在深， 有龍則靈”。 ;
10.許多漢字屬象形文 字，人們?？蓮淖值男?狀揣知其義。 ;
11.漢字在其漫長(zhǎng)的發(fā) 展史中演化成許多不同 的藝術(shù)形式， ;
其中包括甲骨銘文、 青銅器銘文、篆書、 隸書、楷書、行書和 草書。 ;
12.干百年來(lái)中國(guó)許多 書法家潛心研究書法藝 術(shù)的形式、規(guī)則及理 論。 ;
13.以石碑聞名遐邇的 桂林七星巖內(nèi)各個(gè)朝代 的銘文隨處可見。 ;
14.對(duì)于那些有興趣把 書法作為一種藝術(shù)形式 來(lái)研究的人士來(lái)說， ;
曲阜孔廟和泰山岱廟是 必游之地。 ;
15.中國(guó)歷史上許多詩(shī) 人和高僧在浪跡名山時(shí) 皆撒墨于懸崖峭壁上， ;
他們以此來(lái)抒發(fā)自己 的感情。 ;
16.社區(qū)服務(wù)不但是社 會(huì)穩(wěn)定的一種措施，同 時(shí)也是社會(huì)進(jìn)步與發(fā)展 的需要。 ;
17.我國(guó)社區(qū)服務(wù)起步 較晚，發(fā)展還很不平 衡，還有許多不足之處 和薄弱環(huán)節(jié)需要克服。 ;
18.各位專家學(xué)者所作 的學(xué)術(shù)報(bào)告對(duì)促進(jìn)和 改善我們的工作， 必將產(chǎn)生積極的影響。 ;
unit 11 Interpreting Business Speeches English-Chinese Interpretation ;
11-1 Entrepreneurial Culture ;
Text for Interpretion ;
Interpret the following passage from English into Chinese: ;
indies and gentlemen. ;
Good afternoon. ;
Today I'll focus on the importance of entrepreneurial culture, ;
drawing on the lesson from the Enron case. ;
For most of the 1990s. ;
CEOs at Old Economy companies struggled to ;
turn slow-moving organizations into nimbler,more flexible outfits. ;
The truth is real transformations are the exception rather than the rule, ;
Changing the core values,the attitudes, ;
and the fundamental relationships of a vast organization ;
is overwhelmingly difficult.That's why an army of academics ;
and consul tarns descended on Enron in the late 1990s ;
and held it up as a paragon of management virtue. ;
Enron seemed to have transformed itself from a stodgy regulated utility ;
to a fast-moving enterprise where performance was paramount. ;
If only that were true.Enron tumbled down. ;
Many of the same academics are now busy distilling the cultural ;
and leadership lessons from the debacle. ;
Their conclusion so far:Enron didn't fail just ;
because of improper accounting or alleged corruption at the top. ;
lt also failed because of its entrepreneurial culture ;
the very reason Knron attracted so much attention and acclaim. ;
Too much emphasis on earning- growth and individual initiative, ;
coupled with a shocking absence of the usual corporate cheeks ;
and balances,turned Enron's entrepreneurial culture from one ;
that rewarded aggressive strategy to one that ;
increasingly relied on unethical means. ;
In the end,too much leeway was given to young, ;
inexperienced managers without the ;
necessary controls to minimize failures. ;
Jeffrey K.Skilling assumed Enron CEO in early 2001. ;
His recipe for changing the company ;
was right out of the New Economy play book. ;
Layers of management were wiped out. ;
Hundreds of outsiders were recruited and ;
encouraged to bring new thinking to a tradition-bound business. ;
The company abolished seniority- based salaries in favor of ;
more highly leveraged compensation that ;
offered huge cash bonuses and stock option grants to top performers. ;
Young People. ;
many just out of undergraduate or MBA programs, ;
were handed extraordinary authority, ;
able to make $5 million decisions without higher approval. ;
In larger companies like IBM,even though there is a movement inward youth, ;
there are still enough older people around to mentor them. ;
At Enron, you had a bunch of kids running loose ;
without adult supervision. ;
The new entrepreneurial culture encourages ;
the "loose and tight"environment. ;
The idea is to combine tight controls ;
with maximum individual authority to allow entrepreneurship ;
to flourish without the culture edging into chaos. ;
At Enron,however, the pressure to make the numbers ;
was often overwhelming.The environment was ripe for abuse. ;
Nobody at corporate was asking the right questions. ;
It was completely hands-off management.It was a runaway train. ;
I'd like to stop here and take your questions. ;
11-2 Getting to Know Bonds ;
Text for Interpretation ;
Interpret the following passage from English into Chinese: ;
How many of you buy bonds?More and more people show great interest in bonds investment. ;
A major appeal of investing in bonds is that they provide investors ;
with a steady stream of income and ;
guarantee the repayment of the loan in full at maturity. ;
Bonds also appeal to investors because of their scope ;
for capital appreciation.Take for instance a fall in interest rales, ;
in this case bonds which were issued when interest rates were high ;
will become increasingly valuable and as the bond price rises, ;
this provides profit for bond sellers. ;
In addition,if intcrol rates had fallen significantly ;
over a period of time,economic growth would be stimulated ;
as lower borrowing costs and savings rates would ;
encourage businesses to invest and households to consume. ;
In such a low interest-rale environment, ;
It may still be good for investors to ;
consider investing some money in bonds because they will be ;
able to achieve a higher return than cash deposits. ;
In a nutshell,an investor should consider investing ;
in bonds as an alternative for the purpose of diversification ;
in invesirnent. ;
As a bond pays a regular interest, it may be suitable for investors, ;
such as retirees, who require a regular income over a specific time. ;
Equities and government bonds are well suited to some investors. ;
Younger investors will henefit from equity capital growth ;
because they are generally investing for the longer term ;
and not unduly concerned with the lack of immediate yield. ;
Investors concerned wilh avoiding risk will be prepared to ;
accept the relatively low yields now ;
available on government bonds. ;
But many investors fall somewhere between these two extremes. ;
In recent years, financial markets ;
have become increasingly polarized between growth and security. ;
Investors looking for medium and low-risk ;
are increasingly turning to the corporate bond market ;
as an alternative to equities and government bonds. ;
Corporate bonds offer an ideal alternative to equities ;
and government bonds,providing some of the benefits of each. ;
With corporate bonds,an investor can opt for a lower risk exposure ;
than with equities but a higher income yield than with government bonds. ;
The main disadvantage of corporate bonds is ;
that an investor only indirectly participates in the company's success, ;
through its credit- worthiness,but otherwise will not benefit ;
from corporate expansion in the way that equity holders will. ;
On the other hand, absolute risk is lower than for equities ;
because coupon payments cannot be waived and. ;
in the event of a default,bondholders are ranked highly among creditors. ;
However,corporate credit -worthiness is a key factor ;
in assessing the value find risk of corporate bonds. ;
Credit rating agencies play an important role in this process. ;
The two main agencies are Moody's and Standard&Poors. ;
They assign ratings both to ;
entities issuing bonds and to specific corporate bond issues. ;
This gives investors a guide as to their credit quality, ;
which indicates possible risk. ;
Liquidity is also an important factor. Investors should be generally aware ;
that corporate bonds,even in mature markets such as the United States ;
and Britain,have fairly limited secondary markets. That is to say. ;
unlike equities or government bonds, ;
they cannot always be sold easily to other investors. ;
Although corporate bonds carry more risk than government bonds, ;
that risk can be controlled to a large extent by credit analysis ;
and other checks on the issuer and the terms of the bond. ;
In return,investor have the opportunity to achieve a good cash income. ;
Buy stocks or bonds? Make your own decision. ;
11-3 The Unique Silicon Valley ;
Text for Interpretation ;
Interpret the following passage from English into Chinese: ;
What makes Silicon Valley so successful and unique? ;
Silicon Valley is a magnet to which numerous talented engineers. ;
scientists and entrepreneurs from overseas flock in search of fame ;
and fast money and to participate enthusiastically ;
in a technological revolulion whose impact on mankind ;
will surely surpass the epoch-making European Renaissance ;
and Industrial Revolution of the bygone age. ;
With the rapid spread of the Internet and the relentless ;
technological innovations generated through it, ;
the information era is truly upon us. profoundly influencing ;
and changing not only our lifestyle, but also the way we work, ;
do business,think and communicate with others. ;
It is noteworthy that close to 50% of its skilled manpower, ;
including engineers, scientists and entrepreneurs, ;
come from Asia. Prominent among them are Indians. ;
Chinese and Singaporeans. They include such illustrious names ;
as Vinod Khosla who co-founded Sun Microsystems. ;
Jerry Yang of Yahoo fame Find Singaporean Sim Wong Hoo. ;
Many countries have, or are in the process of creating, ;
their own "Silicon Valley."So far, ;
none has as yet threatened the preeminence of the U.S. prototype. ;
What makes Silicon Valley such a unique entity? ;
I think there are several crucial factors. ;
First and foremost, it has the largest concentraiion of brilliant computer ;
professionals and the best supporting services in the world. ;
and easy access to world-class research institutions, ;
like Stanford University,which continually nurture would-be geniuses ;
which the industry needs in order to move forward. ;
Without these advantages,the Valley would be a different place. ;
Secondly,it actively encourages,or even exalts,risk-taking. ;
Hence,failure holds no terror and there is no stigma ;
attached to a failed effort.On the contrary, ;
they will try even harder next time round. ;
Such never-say-die approach is the sine qua non for the ultimate triumph ;
in entrcpreneurship and technological breakthrough. ;
A third decisive factor is the vital role of venture capitalists ;
who willingly support promising start-ups with ;
urgently needed initial capital to get them started. ;
Some would even give failed entrepreneurs a second chance ;
if convinced that a fresh concept might lead to eventual success. ;
It is a common practice for start-ups to offer ;
generous share options to employees ;
in order to attract the right talent into their folds. ;
This is a powerful incentive to motivate the staff to do their utmost ;
and to share in the company's prosperity if it reaches its goal. ;
Many regard this as the foundation of a successful enterprise. ;
Those that have become high flyers, such as Netscape. ;
Intel.Cisco and Yahoo,have turned many of their employees, ;
including support staff like secretaries,into dot. ;
com millionaires overnight,often at the relatively young age of 20s or 30s. ;
The valley's professionals are among the most hardworking people anywhere. ;
A l5-hour day and 7-day week is not uncommon. ;
especially during the start-tip stage. They would give up social life, ;
and curtail their family life too, in order to pursue the pot of gold ;
at the end of the rainbow. ;
It is this single- minded pursuit of excellence, ;
supported by strong ethos of teamwork and espril de corps, ;
that sustain them until their mission is accomplished. ;
Paper qualification, though useful,is not a be all and end all. ;
More weight is given to a candidate's proven abilities ;
and aptitude for the job.This is amply demonstrated by ;
industry icons like Apple's Jobs and Wozniak and Microsoft's Gates, ;
all college dropouts who might not have emerged ;
in a qualifieation- conscious community. ;
While racial prejudice no doubt still exists in the United States, ;
it is hardly discernible in the Valley. ;
What counts most is one's vision and track record, ;
and not one's nationality,skin color or creed. ;
This,together with its multiracial society, ;
informal lifestyle and agreeable climate, ;
lures foreigners to its shores. ;
Its phenomenal success has led to a worldwide fever to proliferate dot, ;
com companies,both as a prestigious symbol and a quicker way to wealth. ;
In consequence, many bright young people have given up ;
their secure jobs to join in the race. ;
But the reality is that,because of its high-risk nature, ;
for every success story there are hundreds who will fall by the wayside. ;
However,with the collapse of the U.S. NASDAQ share index. ;
the share options held by numerous paper dot.com millionaires have ;
become virtually worthless in these changed circumstances. ;
Those who could not take the hit,as it were, ;
left their employment feeling disillusioned. ;
Be that as it may. the majority in the Valley views this traumatic experience ;
only as a temporary setback for the industry. ;
They are sanguine that its longer- term prospects remain bright ;
as the ultimate potential of the ;
information age has not yet run its full course. ;
They are confident that it will flourish well into this century ;
provided it maintains its cutting-edge in ;
science and technology. ;
11-4 On Patent Laws Text for Interpretation ;
Interpret the following passage from English into Chinese: ;
Today,we,pioneers and leaders of electronic commerce, ;
are meeting here to call for changes in US patent laws. ;
We believe such changes are needed to deal with new business models ;
related to the growth of the Internet. ;
I share the same view with Jeff Bezos, ;
chief executive of online bookseller Amazon-dot-com. ;
Mr.Bezos argued in an open letter that current patent laws ;
could end up harming all kinds of businesses if the laws ;
were not adapted to new business methods used in e-commerce. ;
I think US Patent laws are designed to protect ;
the commercial rights of people who have invested in new products, ;
systems or methods. Hereby I propose that the period of protection offered ;
by patents should be cut from 17 years to about 4 years. ;
I also propose a one month period of public consultation before patents ;
are issued.The purpose of these changes is to ensure ;
that patented business models and software are more quickly ;
released into the public domain. ;
Amazon was once under criticism for allegedly ahusing current laws ;
by patenting business methods that are so general in scope ;
they should be available to everyone. ;
Two examples include Amazon's patent for the so-called one click purchasing ;
option on its World Wide Web site and its program for ;
paying other web sites that refer customers to the Amazon site. ;
From my experience of working with Hi-Technology companies ;
in California's Silicon Valley, the biggest problems arise ;
when existing patent protections for business methods ;
are combined with the Internet. ;
When you combine the ability to patent business methods with the advent of ;
the Internet you have a very interesting coincidence. ;
The Internet,because it is brand new, provides a new way of doing just ;
about everything.You can have electronic shopping carts on the Internet ;
that mimic the shopping carts in the real world. ;
But because it is in a new environment, a new medium, ;
that is sufficiently novel to obtain a patent on that idea. ;
If changes in the patent laws are going to have any real impact, ;
they must be made soon, before too many more new ;
business method patents are issued. Some of my colleagues ;
in the industry have already begun lobbying lawmakers to make the changes. ;
But we have to be a little bit more patient because ;
it will take at least two years for any changes proposed now to be approved ;
by lawmakers and established as law. ;
Sentences in Focus ;
Interpret the following sentences from English into Chinese: ;
1.Today I'll focus on the importance of entrepreneurial culture, ;
drawing on the lesson from a few outstanding cases. ;
2.The truth is, really successful transformations are ;
the exception rather than the rule. ;
3.Changing the core values,the attitudes, ;
and the fundamental relationships of a vast organization ;
is overwhelmingly difficult. ;
4.Too much emphasis on earnings growth and individual initiative, ;
coupled with a shocking absence of the usual corporate checks and balances, ;
turned the company's entrepreneurial culture from one that rewarded ;
aggressive strategy to one that increasingly relied on unethical means. ;
5.The new entrepreneurial culture encourages ;
the "loose and tight"environment. ;
The idea is to combine light controls with ;
maximum individual authority to allow entrepreneurship ;
to flourish without the culture edging into chaos. ;
6.Bonds appeal to investors because of their scope for ;
capital approciation. ;
7.Investors consider investing some money in bonds ;
because they will be able to achieve a higher return than cash deposits. ;
8.In a nutshell,an investor should consider investing in bonds ;
as an alternative for the purpose of diversification in investment. ;
9.In recent years, financial markets have become ;
increasingly polarized between growth and security. ;
10.Credit rating agencies,such as Moody's and Standard & Poors, ;
assign ratings both to entities issuing bonds ;
and to specific corporate bond issues, ;
and indicate possible risk in financial investment. ;
11.Silicon Valley is a magnet to which numerous talented engineers, ;
scientists and entrepreneurs from ;
overseas flock in search of fame and gain. ;
12.First and foremost,Silicon Valley has ;
the largest concentration of brilliant computer professionals ;
and the best supporting services in the world. ;
13.The never-say-die approach is the sine qua non ;
for the ultimate triumph in cntrepreneurship ;
and technological breakthrough. ;
14.They willingly support promising start-ups with urgently ;
needed initial capital to get them started. ;
15.Paper qualification, though useful, ;
is not a be all and end all. ;
16.Because of its high-risk nature, ;
for every success story there are hundreds who will fall by the wayside. ;
17.Today,we,pioneers and leaders of electronic commerce, ;
are meeting here to call together for ;
changes in the existing patent laws. ;
18.I propose a one-month period of public consultation ;
before patents are issued. ;
Unit 12 ;
Interpreting Business Speeches Chinese-English Interpretation ;
12-1 The Growing Financial Industry ;
Text for Interpretation ;
Interpret the following passage from Chinese into English: ;
先生們，女士們： 我今天想談一下上海 金融業(yè)的現(xiàn)狀與發(fā)展 趨勢(shì)。 ;
眾所周知，目前的亞洲 是全球經(jīng)濟(jì)發(fā)展最為 迅速的地區(qū)， ;
中國(guó)是亞洲經(jīng)濟(jì)增長(zhǎng) 最快的國(guó)家，上海更是 中國(guó)經(jīng)濟(jì)發(fā)展最引入矚 目的城市之一。 ;
在上個(gè)世紀(jì)三四十年 代，上海曾是遠(yuǎn)東最大 的國(guó)際金融中心。 ;
今天，鑒于上海特殊的 歷史地位與地理優(yōu)勢(shì)， 亦基于中國(guó)經(jīng)濟(jì)強(qiáng)勁 發(fā)展的實(shí)力， ;
這座城市重建遠(yuǎn)東國(guó)際 金融中心的勢(shì)態(tài)已成 定局。 ;
中國(guó)改革的總設(shè)計(jì)師、 已故的鄧小平先生早 在1992年來(lái)滬時(shí)便明 確提出， ;
“中國(guó)在金融方面取得 國(guó)際地位.首先要靠 上海。 ;
”中國(guó)決策層已決心 盡快將上海建成國(guó)際 經(jīng)濟(jì)、金融、貿(mào)易中 心城市。 ;
經(jīng)過15年的金融發(fā)展 與改革，上海金融機(jī)構(gòu) 迅速發(fā)展。 ;
目前上海已形成了以 中央銀行(即中國(guó)人民 銀行)為領(lǐng)導(dǎo)。 ;
以國(guó)有商業(yè)銀行為主 體，各種金融機(jī)構(gòu)并 存，發(fā)展比較健全的 金融機(jī)構(gòu)組織體系。 ;
近10年來(lái).外資金融 機(jī)構(gòu)紛紛搶灘上海， 其中包括外資銀行、 外資財(cái)務(wù)公司、 ;
外資保險(xiǎn)公司和外資 金融機(jī)構(gòu)代表處。 與此同時(shí)，上海金融市 場(chǎng)迅速發(fā)展。 ;
迄今為止，上海已建成 了具有一定規(guī)模與相當(dāng) 影響的比較完整的金融 市場(chǎng)體系， ;
其中包括證券市場(chǎng)、 外匯市場(chǎng)、貼現(xiàn)市場(chǎng)、 保險(xiǎn)市場(chǎng)、金銀買賣 市場(chǎng)等。 ;
上海證券市場(chǎng)的發(fā)展最 為矚目，已成為輻射 全國(guó)、影響深遠(yuǎn)的國(guó) 內(nèi)最大的資本市場(chǎng)。 ;
隨著我國(guó)改革開放的 深入和綜合國(guó)力的 增強(qiáng)， ;
上海金融業(yè)必將在更高 層次上得到全面拓展。 根據(jù)上海市政府制定的 社會(huì)和經(jīng)濟(jì)發(fā)展藍(lán)圖， ;
到2010年，上海將基本 建成國(guó)際經(jīng)濟(jì)、金融、 貿(mào)易中心之一，全方位 介入國(guó)際金融活動(dòng)， ;
外匯市場(chǎng)，資本市場(chǎng)、 黃金市場(chǎng)實(shí)現(xiàn)與世界各 金融中心的全天候交 易， ;
人民幣實(shí)行自由兌換。 女士們、先生們， 新世紀(jì)的上海充滿著希 望， ;
是各國(guó)富有遠(yuǎn)見的金融 家和企業(yè)家大展鴻圖的 黃金寶地。 ;
讓我們攜手合作， 共圖發(fā)展大業(yè)。謝謝。 ;
12-2 Asian Cooperation Text for Interpretion ;
我很高興參加博鰲亞洲 論壇首次年會(huì)，與大家 共同探討新世紀(jì)亞洲區(qū) 域合作與發(fā)展的問題。 ;
亞洲是地球上最大的 洲，聚居著世界60%的 人口，資源十分豐富， ;
歷史源遠(yuǎn)流長(zhǎng)，文化博 大精深。近年來(lái)，在亞 洲國(guó)家共同努力下， ;
包容、平等和漸進(jìn)的 地區(qū)合作意識(shí)日益加 強(qiáng)，開放、健康和互利 的合作局面正在形成。 ;
亞太經(jīng)合組織不斷發(fā) 展，東亞區(qū)域合作方 興未艾， ;
“上海合作組織”順利 運(yùn)轉(zhuǎn)。我國(guó)與東盟國(guó)家 一致同意今后10年內(nèi) 逐步建立 ;
中國(guó)一東盟自由貿(mào)易 區(qū)，并正就啟動(dòng)談判進(jìn) 行接觸。 ;
這些將為亞洲國(guó)家和地 區(qū)擴(kuò)大交流、深化合 作，提供重要渠道和 機(jī)制。 ;
但是，與歐洲和北美區(qū) 域合作相比，亞洲區(qū) 域合作相對(duì)落后。 ;
——段時(shí)間以來(lái)，許多方 面對(duì)亞洲區(qū)域合作的 發(fā)展方向提出不少獨(dú)到 見解。 ;
這里，我談幾點(diǎn)看法： ;
第一，以經(jīng)濟(jì)合作為 重點(diǎn)，逐步拓展全方位 合作。 ;
發(fā)展經(jīng)濟(jì)是亞洲各國(guó)的 首要任務(wù)。從實(shí)際需要 和實(shí)踐看， ;
可以把貿(mào)易、交通、 農(nóng)業(yè)、信息、能源作 為優(yōu)先合作領(lǐng)域，并逐 步向其他領(lǐng)域擴(kuò)展。 ;
第二，立足現(xiàn)有合作渠 道，不斷擴(kuò)大合作范 圍。 ;
東亞、南亞、西亞和 中亞地理上相對(duì)獨(dú)立， 經(jīng)濟(jì)發(fā)展各有特色。 ;
從便利性和有效性看， 應(yīng)首先加強(qiáng)次區(qū)域合 作，在此基礎(chǔ)上，積極 探索泛亞合作的途徑。 ;
第三，進(jìn)一步拓展雙邊 合作，增強(qiáng)區(qū)域合作的 基礎(chǔ)。 ;
加強(qiáng)雙邊合作有利于 推動(dòng)區(qū)域合作的順利 發(fā)展。 ;
區(qū)域合作也有利于為 雙邊開辟更廣闊的空 間。兩者可以形成良 性互動(dòng)。 ;
第四，實(shí)行開放式地區(qū) 合作。合作不可能自 我封閉，更不應(yīng)形成排 他性集團(tuán)。 ;
亞洲國(guó)家應(yīng)通過APEC、 亞歐會(huì)議和東亞一拉美 合作論壇等渠道， ;
進(jìn)一步加強(qiáng)與各大洲國(guó) 家的合作。 中國(guó)是亞洲的一員。 ;
20多年來(lái).中國(guó)堅(jiān)定 不移地推進(jìn)改革開放， 加速國(guó)民經(jīng)濟(jì)發(fā)展。 ;
中國(guó)改革開放和現(xiàn)代 化的新跨越，不僅將給 中國(guó)人民帶來(lái)巨大 福祉， ;
也必將提供無(wú)限商機(jī)， 為亞洲和世界經(jīng)濟(jì)合作 開辟新的廣闊空間。 ;
加入世貿(mào)組織，是中國(guó) 對(duì)外開放的新起點(diǎn)。 ;
我們將在更大范圍和更 深程度上參與國(guó)際經(jīng)濟(jì) 合作與競(jìng)爭(zhēng)。 ;
中國(guó)將進(jìn)一步向亞洲和 世界開放，向各國(guó)的企 業(yè)家、投資者開放。 ;
我們恪守人世承諾， 有步驟地?cái)U(kuò)大開放領(lǐng) 域，降低關(guān)稅水平， 取消非關(guān)稅壁壘。 ;
我們也將不斷完善法 治，創(chuàng)造更加公平、 透明和可預(yù)見的市場(chǎng) 環(huán)境。 ;
同時(shí)，我們還將大力 實(shí)施“走出去”戰(zhàn)略， 鼓勵(lì)中國(guó)各種所有制企 業(yè)走向世界。 ;
中國(guó)人民熱愛和平， 中國(guó)的發(fā)展需要和平。 亞洲人民勤勞智慧， 自強(qiáng)不息。 ;
中國(guó)人民愿與亞洲各國(guó) 人民一道，攜手共創(chuàng) 美好未來(lái)。 ;