discount rate

countervailing duty

dumping

Passage 1Once, when Japan faced pressure from abroad, it would either give in reluctantly or keep quietand hope that the fuss would die down. No longer it seems. America wants Japan to meet importtargets for some American goods, but far from capitulating to the thrust of American trade policy,Japan is taking stand that could lead to a trans-Pacific confrontation. The annual white paper ontrade development published by the Ministry of International Trade and Industry will reject theargument that Japan needs special trade sanctions. It is Japan's persistent surplus, more thananything, that has provoked anger in Washington. This year the surplus has been growing fast. Withthe economy still barely growing, despite two fiscal packages in the past nine months, Japan's criticssay that the country is once more exporting its way out of recession.Which word can"give in" be replaced by?

Passage 1Once, when Japan faced pressure from abroad, it would either give in reluctantly or keep quietand hope that the fuss would die down. No longer it seems. America wants Japan to meet importtargets for some American goods, but far from capitulating to the thrust of American trade policy,Japan is taking stand that could lead to a trans-Pacific confrontation. The annual white paper ontrade development published by the Ministry of International Trade and Industry will reject theargument that Japan needs special trade sanctions. It is Japan's persistent surplus, more thananything, that has provoked anger in Washington. This year the surplus has been growing fast. Withthe economy still barely growing, despite two fiscal packages in the past nine months, Japan's criticssay that the country is once more exporting its way out of recession.Explain"the fuss would die down".

Passage 1Once, when Japan faced pressure from abroad, it would either give in reluctantly or keep quietand hope that the fuss would die down. No longer it seems. America wants Japan to meet importtargets for some American goods, but far from capitulating to the thrust of American trade policy,Japan is taking stand that could lead to a trans-Pacific confrontation. The annual white paper ontrade development published by the Ministry of International Trade and Industry will reject theargument that Japan needs special trade sanctions. It is Japan's persistent surplus, more thananything, that has provoked anger in Washington. This year the surplus has been growing fast. Withthe economy still barely growing, despite two fiscal packages in the past nine months, Japan's criticssay that the country is once more exporting its way out of recession.Paraphrase "exporting its way out of recession".

Passage 2 The price of tin on the European spot market rose to 4, 400 pounds per ton, reflecting widespread production cuts in the world tin industry, at a two-day meeting in Indonesia,the association of tin-producing countries, whose members represent 70 percent of world tin output, decided to strengthen their co-operation in a bid to stabilize tin prices and to call on the United States to limit sales of tin from its strategic stockpile. Platinum progressed at the outset on concern about strike action in South African mines but quickly fell victim to profit-taking as work resume.What isstrategic stockpile?

Passage 2 The price of tin on the European spot market rose to 4, 400 pounds per ton, reflecting widespread production cuts in the world tin industry, at a two-day meeting in Indonesia,the association of tin-producing countries, whose members represent 70 percent of world tin output, decided to strengthen their co-operation in a bid to stabilize tin prices and to call on the United States to limit sales of tin from its strategic stockpile. Platinum progressed at the outset on concern about strike action in South African mines but quickly fell victim to profit-taking as work resume.What does "progress"mean in the context?

Passage 2 The price of tin on the European spot market rose to 4, 400 pounds per ton, reflecting widespread production cuts in the world tin industry, at a two-day meeting in Indonesia,the association of tin-producing countries, whose members represent 70 percent of world tin output, decided to strengthen their co-operation in a bid to stabilize tin prices and to call on the United States to limit sales of tin from its strategic stockpile. Platinum progressed at the outset on concern about strike action in South African mines but quickly fell victim to profit-taking as work resume.What is profit-taking in business?

Commerce among nations entered a modern era; the constrained trading between imperial powers and their colonies began to break down. World markets opened to all countries, and multilateral trade flourished. Generally, a country could sell its goods in the best market it could find and buy what is needed from the least expensive supplier. Moreover, since currencies were convertible, most transactions could be completed with cash. Barter was as antiquated as the horse-soldier. During the past few years, however, the international monetary system has begun to strain under a variety of economic changes. One important cause is the enormous burden of debt carried by Third World countries. A professor at Harvard University says, "The plain fact is that many countries are broken.