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1、Unit4EconomyLesson10(E--C)BilingualReadingAGlobalEconomyPresidentClintonrealized--asallofusmust--thattoday’seconomyisglobal.Weliveinanerainwhichinformation,goodsandcapitalspeedaroundtheglobe,everyhourofeveryday.Whetherwelikeitornot,allofourfortunesaretiedtogether.Wearetrulyinterdependent.America
2、supportsinternationaltradebecausewebelievefundamentallythattradewillenrichthosenationswhoembraceitsdiscipline.Thegreatpromiseoftradeisitspotentialtopromotemutualprosperity--andtostrengthenthebondsbetweensovereignnations.TheU.S.andChinabothdemonstratethepotentialoftradetoimprovethelivesofourpeopl
3、e.YouknowbetterthanIthegreatachievementsoftheChineseeconomyoverthepasttwodecades.In1977,thesumtotalofChineseimportsandexportswaslessthan$15billion,puttingChina’sshareofworldtradeat0.6percent.Themostpopulouscountryintheworld,Chinarankedadistant30thamongexportingnations.By1993China’sexportsandimpo
4、rtstotalednearly$200billion.Chinahadbecometheworld’stenthlargestexporter.Since1978,whenChinabeganopeningitseconomytoincreasedforeigninvestmentandtrade,aggregateoutputhasmorethandoubled.ThestrongestgrowthhasoccurredinthecoastalareasnearHongKongandoppositeTaiwan,whereforeigninvestmentandmodernprod
5、uctionmethodshavespurredproductionofbothdomesticandexportgoods.PercapitaGNPhasgrownatanaveragerateof7.6%from1980-1992.Thenumbersareinteresting,buthowhasthisaffectedthepeopleofChina?Inthelastdecade,telephoneconnectionsrosemorethan60%.Electricalproductionmorethandoubledto621millionkilowatthours.In
6、short,Chinahasimprovedtheeconomicwell-beingofitspeople.ThepeopleoftheUnitedStatesalsohaveexperiencedthebenefitsofworldtrade.SinceWorldWarII,theU.S.hasbeentheworld’slargesteconomyand,inmostyears,theworld’slargestexporter.Buttheimportanceoftradeinoureconomyhasexplodedinthepastthreedecades.In1970,t
7、hevalueoftwowaytradewasequaltojust13%oftheU.S.economy.Lastyear,thatfigure,at28%,wasmorethantwiceashigh.Injustthelastsevenyears,jobssupportedbyU.S.exports(goodsandservices)haverisenby4million,toatotalof11million.That’salmosto
