Business Channel 2007-03-29&31

The United States has sustained 31 consecutive¹ years of trade deficits³. Those deficits have reached successively higher records in each of the past five years. The US trade deficit² has in fact more than doubled since President George W. Bush took office. The U.S. trade deficit has been a drag on our economic growth in 18 of the 24 quarters of George W. Bush's presidency⁴.

Free trade has been the most expensive trade policy this nation has ever pursued. There is absolutely nothing free about ever-larger trade deficits, mounting trade debts and the loss of millions of good-paying American jobs.

Since the beginning of this new century, the United States has lost more than three million manufacturing jobs. Three million more jobs have been lost to cheap overseas labor⁵ markets in the name of outsourcing, as corporate⁶ America campaigns relentlessly⁷ for what it calls "higher productivity", "efficiency," and "competitiveness," all three words have been revealed to mean nothing more than, they are code words, code words for the cheapest possible labor in the world.

I've been called a "table-thumping⁸ protectionist," and the Bush administration has hurled⁹ at me its favorite public epithet¹⁰, at least in terms of economic policy, calling me an "economic isolationist." Nothing could be farther from the truth. I believe, as I hope you and the majority of all members of this Congress believe, irrespective of your political party, in the importance of an international system of trade and finance that is orderly, predictive, well-regulated, mutual¹¹ and fair.

Reciprocity does not in any way connote protectionism. Neutrality does not in any way connote economic isolationism. But both terms when applied¹² to our trade policy require a pragmatism and a commitment to the domestic and national interests of this country in all international agreements. And I believe, as I hope you do, that no international agreement of any kind should ever again be signed by this government without clear, honest understanding of the potentially awesome¹³ impact that such agreements have on the lives of our working men and women, our environment, and the quality of life.


Notes:

1. free trade

Policy in which a government does not discriminate¹⁴ against imports or interfere¹⁵ with exports. A free-trade policy does not necessarily imply that the government abandons all control and taxation¹⁶ of imports and exports, but rather that it refrains from actions specifically designed to hinder international trade, such as tariff¹⁷ barriers, currency restrictions¹⁸, and import quotas¹⁹. The theoretical case for free trade is based on Adam Smith's argument that the division of labour among countries leads to specialization, greater efficiency, and higher aggregate²⁰ production. The way to foster such a division of labour, Smith believed, is to allow nations to make and sell whatever products can compete successfully in an international market.

2. table thumping

Ppl should be very mad when he thumps²¹ the table.

1 consecutive   

adj.连续的，联贯的，始终一贯的

参考例句：

• It has rained for four consecutive days.已连续下了四天雨。
• The policy of our Party is consecutive.我党的政策始终如一。

2 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
• We have a great deficit this year.我们今年有很大亏损。

3 deficits   

n.不足额( deficit的名词复数 )；赤字；亏空；亏损

参考例句：

• The Ministry of Finance consistently overestimated its budget deficits. 财政部一贯高估预算赤字。 来自《简明英汉词典》
• Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。 来自辞典例句

4 presidency   

n.总统(校长，总经理)的职位(任期)

参考例句：

• Roosevelt was elected four times to the presidency of the United States.罗斯福连续当选四届美国总统。
• Two candidates are emerging as contestants for the presidency.两位候选人最终成为总统职位竞争者。

5 labor   

n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦

参考例句：

• We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
• He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。

6 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。

7 relentlessly   

adv.不屈不挠地；残酷地；不间断

参考例句：

• The African sun beat relentlessly down on his aching head. 非洲的太阳无情地照射在他那发痛的头上。
• He pursued her relentlessly, refusing to take 'no' for an answer. 他锲而不舍地追求她，拒不接受“不”的回答。

8 thumping   

adj.重大的，巨大的；重击的；尺码大的；极好的adv.极端地；非常地v.重击(thump的现在分词)；狠打；怦怦地跳；全力支持

参考例句：

• Her heart was thumping with emotion. 她激动得心怦怦直跳。 来自《现代汉英综合大词典》
• He was thumping the keys of the piano. 他用力弹钢琴。 来自《现代英汉综合大词典》

9 hurled   

v.猛投，用力掷( hurl的过去式和过去分词 )；大声叫骂

参考例句：

• He hurled a brick through the window. 他往窗户里扔了块砖。
• The strong wind hurled down bits of the roof. 大风把屋顶的瓦片刮了下来。 来自《简明英汉词典》

10 epithet   

n.（用于褒贬人物等的）表述形容词，修饰语

参考例句：

• In "Alfred the Great","the Great"is an epithet.“阿尔弗雷德大帝”中的“大帝”是个称号。
• It is an epithet that sums up my feelings.这是一个简洁地表达了我思想感情的形容词。

11 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• We must pull together for mutual interest.我们必须为相互的利益而通力合作。
• Mutual interests tied us together.相互的利害关系把我们联系在一起。

12 applied   

adj.应用的；v.应用，适用

参考例句：

• She plans to take a course in applied linguistics.她打算学习应用语言学课程。
• This cream is best applied to the face at night.这种乳霜最好晚上擦脸用。

13 awesome   

adj.令人惊叹的，难得吓人的，很好的

参考例句：

• The church in Ireland has always exercised an awesome power.爱尔兰的教堂一直掌握着令人敬畏的权力。
• That new white convertible is totally awesome.那辆新的白色折篷汽车简直棒极了.

14 discriminate   

v.区别，辨别，区分；有区别地对待

参考例句：

• You must learn to discriminate between facts and opinions.你必须学会把事实和看法区分出来。
• They can discriminate hundreds of colours.他们能分辨上百种颜色。

15 interfere   

v.(in)干涉，干预；(with)妨碍，打扰

参考例句：

• If we interfere, it may do more harm than good.如果我们干预的话，可能弊多利少。
• When others interfere in the affair,it always makes troubles. 别人一卷入这一事件，棘手的事情就来了。

16 taxation   

n.征税，税收，税金

参考例句：

• He made a number of simplifications in the taxation system.他在税制上作了一些简化。
• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。

17 tariff   

n.关税，税率；(旅馆、饭店等)价目表，收费表

参考例句：

• There is a very high tariff on jewelry.宝石类的关税率很高。
• The government is going to lower the tariff on importing cars.政府打算降低进口汽车的关税。

18 restrictions   

约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）

参考例句：

• I found the restrictions irksome. 我对那些限制感到很烦。
• a snaggle of restrictions 杂乱无章的种种限制

19 quotas   

（正式限定的）定量( quota的名词复数 )； 定额； 指标； 摊派

参考例句：

• In fulfilling the production quotas, John made rings round all his fellow workers. 约翰完成生产定额大大超过他的同事们。
• Quotas of the means of production are allocated by the higher administrative bodies to the lower ones. 物资指标按隶属关系分配。

20 aggregate   

adj.总计的，集合的；n.总数；v.合计；集合

参考例句：

• The football team had a low goal aggregate last season.这支足球队上个赛季的进球总数很少。
• The money collected will aggregate a thousand dollars.进帐总额将达一千美元。

21 thumps   

n.猪肺病；砰的重击声( thump的名词复数 )v.重击， （指心脏）急速跳动( thump的第三人称单数 )

参考例句：

• Normally the heart movements can be felt as distinct systolic and diastolic thumps. 正常时，能够感觉到心脏的运动是性质截然不同的收缩和舒张的撞击。 来自辞典例句
• These thumps are replaced by thrills when valvular insufficiencies or stenoses or congenital defects are present. 这些撞击在瓣膜闭锁不全或狭窄，或者有先天性缺损时被震颤所代替。 来自辞典例句