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China‘s Economic Role in Asia China‘s economic role in Asia is burgeoning. With 1.2 billion people and an economy growing more rapid than any other in the region. China‘s rising importance as a trader manufacturer and investor offers neighbors a fast-growth cushion against slowdowns in the West. In 1995, for Japanese businesses grappling with the strong Yen, China is especially attractive. Japan‘s domestic market is sagging, and yen-based costs are pricing its exports too high. China offers thriving market and a cheap production base. Nearly one of every 10 yen that Japanese companies invest this year will end up in China, by one estimate. But it isn‘t manufacturing that links China to Asia. China‘s huge appetite for everything from grain to top-of-the-line technologies helps, too. South Korea‘s auto industry and Japan‘s steel industry, both dragging, get a big lift from China. And China‘s market could grow even more important, and not just to Asia. Although Sino-American trade surged to $40 billion last year from only $2 billion when Beijing begin its economic reforms in 1979, trade in some areas, notably services, is still generally closed. As it opens, other areas of market will expand. To be sure, China‘s trade expansion hasn‘t been smooth. This year, Beijing averted U. S. sanctions by settling a dispute over copy right and patent protection. But by the year 2010. According to OCED, Asia will account for one-third of global demand and China will almost certainly be the largest component.1. China opened completely its commodity and service market（）2.This year, about 10% of Japan‘s foreign investment went to China（）3.The opening of Chinese market benefited South Korea‘s auto industry（）4.China was sanctioned by the U. S. for its ineffectiveness of intellectual property protection（）5.Strong yen will promote more exports in Japan（）

Greater Wealth of Nations Conclusion of the Uruguay Round is truly a triumph in adversity. Securing agreement among so many countries on such a complex raft of trade agreements frequently seemed an insuperable challenge in the past seven years. Whatever the shortcoming of the result, the original vision of a broad expansion of international trade law is now much closer to fulfillment. More remarkable still so is the dream that drove the founding fathers of the General Agreement on Tariffs and Trade: that of a liberal rule-based international trading system overseen by an authoritative world trade organization. The Final Act of the Uruguay Round promise to bring farm products within GATT discipline. Inclusion of farm trade, though incomplete, will reduce the danger of international conflict over dumping of subsidized surpluses, reinforce market-based agricultural reforms that are gradually being introduced in the developed world, and give developing countries a better chance of exploiting their comparative advantage as food producers. In textiles, gradual phasing out of the protectionist Multifibre Arrangement will eventually allow greater international competition and force overdue restructuring of textile industries in the developed world. The agreement provides for significant elaboration of rules designed to ensure that trade is fair as well as free. It promises greater clarity concerning when and for how long countries will be permitted to resort to "safeguard" measures against imports, to impose anti-dumping duties and to subsidize domestic industries.1. It‘s difficult for the members to conclude the Uruguay Round and reach agreements（）2.A liberal and rules-based international trading system is completely fulfilled after the Uruguay Round（）3.Market-based agriculture reforms means cutting down protectionist measures in production and exports（）4.No member country has the right to use protectionist measures under any conditions（）5.The Multifibre Arrangement is an agreement preventing free trade in textiles（）

People were upset about giving executives high fixed salaries not correlating directly to firm performance（）

The cost of recession will push the budget deficit to 12% of GDP this year（）

Russia is setting up uniform regulations for its market to make it attractive to foreign investors（）

More than half think the Fed will hike interest rates in the latter half of the year（）

Iranian officials this week warned against attempts of gasoline imports sanctions（）

The charges include fraud, breach of contract and failure to report income（）

With fast economic growth and higher market returns, their obligation is fulfilled（）

Family tour is the fastest-growing segment of travel industry（）

An author may not waive any of the rights provided by copyright（）

Raising prices while the world economy is in such a fragile state is a very dangerous game（）

Critics said that further publication of the documents could compromise our country‘s security（）

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