OVERALL ECONOMIC PERFORMANCE IN 1999 GDP China s GDP grew slightly more than 7 percent in 1999, thanks only to the government s ongoing stimulus program. With other Asian countries recovering, China s probable WTO accession this year, and a new drive to boost the private sector, however, both the Chinese government and outside analysts predict slightly stronger growth-around 7.5 percent-in 2000. Investment Investment in fixed assets rose 7.8 percent in 1999, and is expected to increase by another 7.8 percent in 2000. Much of the investment came from the government s stimulus plan. Prices Consumer and retail prices fell throughout 1999. Overcapacity in many industries was chiefly responsible for the 27-month deflation, but slack demand caused by consumer worry about job security and education and health costs also played a role. Many economists believe that the worst is past, and that deflation will wane in 2000. Notes performance n.something performed. an accomplishment完成的事;成就 GDP:gross domestic product国内生产总值 thanks (to) n.(与to连用) 由于;多亏 例:It was thanks to John that we won the game. 多亏约翰,我们才赢了这场比赛。 ongoing stimulus program持续不断的刺激计划(措施) ongoing adj.currently taking place进行中的:现在正在发生的 stimulus n.促进因素, 刺激 program n.程序, 纲要, 计划 WTO:world trade organization世界贸易组织 accession n.access. admittance进入;接收 drive n.energy, push, or aggressiveness干劲、冲动或攻击性 boost vt.to assist in further development or progress刺激增长:辅助长远的发展和进步 例:a bill intended to boost local charities. 一项意在刺激地方慈善事业增长的议案 private sector:non-state sector非国有部门,私营部门 analyst n.分析家 predict vt.to state, tell about, or make known in advance, especially on the basis of special knowledge预测,预知,预告 investment n.投资 fixed assets固定资产(如厂房、机器设备等) retail price零售价格 overcapacity n.too great a capacity for production of commodities or delivery of services in relation to actual need生产能力过剩:与实际需要相比,过大的生产工业商品能力或过多的服务 例:the problem of overcapacity in many large industries. 许多大型工业存在着生产能力过剩的问题 deflation n.[Economics] a persistent decrease in the level of consumer prices or a persistent increase in the purchasing power of money because of a reduction in available currency and credit 【经济学】通货紧缩:由于可获得货币和信贷的减少,导致消费品价格水平的持续下降或货币购买力的持续提高 slack demand需求不旺盛 slack a.lacking in activity. not busy清淡的:缺少活力的;不忙碌的 例:a slack season for the travel business. 旅游业的淡季 job security就业保障 security n.安全;保障 wane vi.亏缺, 衰落