VOA标准英语2011--China Hopes Trade Deficit Will Slow Call

China Hopes Trade Deficit¹ Will Slow Calls for Weaker Currency

China hopes its first quarterly trade deficit in seven years will quiet calls for it to revalue its currency, which Western nations say is artificially low and gives Chinese companies a trade advantage. Some economists³, however, say the trade deficit will not last.
Latest data released by the General Administration of Customs shows China's deficit for the first three months of the year is slightly more than $1 billion.
Li Wei, an economist² at Standard Chartered in Hong Kong, said the deficit figure is a one-time thing, helped by the rising costs of imports into China. He said the trade balance will return to surplus, in the coming months, and the pressure on China to revalue its currency will remain strong.
"Beijing is trying reduce its trade balance, but it's going to take time," said Li. "There's no answer to that. We will see a trade surplus again in Q2 [the second quarter] and Q3. We still do think the yuan is structurally⁴ under valued and it's not just in the trade surplus, but also in the financial and capital accounts, which is why we are calling for a 5 percent CNY [Chinese yuan] appreciation⁵ against the U.S. dollar for this year. And, we think just one quarter of a small trade deficit doesn't make the revaluation calls go away."
The rare deficit already looks short lived. China reported a tiny trade surplus of $140 million in March.
Beijing aims to spark domestic demand and reduce the role of exports in the economy through wage increases, rather than through exchange-rate gains wanted by the United States and other countries.
Beijing is accused of keeping the yuan artificially low, to support its export sector⁶. A weaker currency makes China's goods cheaper, giving its exporters have an edge against their international competitors.
There has been a slight appreciation of the yuan in the last year. It gained more than four percent against the dollar. But Western nations want it to rise in value quickly.
Beijing argues a sudden appreciation of its currency would be harmful to its economy and those of others, as the world tries to recover from the global financial crisis.

1 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。

2 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

3 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

4 structurally   

在结构上

参考例句：

• The house roof was (structurally) unsound. 这屋顶（结构）不牢固。
• Pinhole on shot-hole damage is never structurally significant. 针孔和蛀洞所造成的危害对结构的影响不大。

5 appreciation   

n.评价；欣赏；感谢；领会，理解；价格上涨

参考例句：

• I would like to express my appreciation and thanks to you all.我想对你们所有人表达我的感激和谢意。
• I'll be sending them a donation in appreciation of their help.我将送给他们一笔捐款以感谢他们的帮助。

6 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。