1
The Challenges of Reform
Of course, building a modern economy carries costs too.
当然，建立现代经济是有代价的。
Different countries will manage these costs in different ways.
各国应付这种代价的方式也不尽相同。
But the problems China has had to deal with in recent years are familiar to Britain
and other countries undergoing（经历，忍受，遭受） major economic transition（转
变，过渡，变调，转换）: the conundrum （答案有双关意义的）谜语，难题of unleashing
（释放）enterprises while keeping inflation in check; the social consequences and
complexity of reforming（重整） uncompetitive（无竞争力的） or declining（倾斜的，
衰退中的） industries.

而中国近年来面临的一些问题是英国和其他处于重大经济转轨时期的国家所熟悉的：即如何
在控制通货膨胀的情况下使企业获得发展，如何处理由于改造缺乏竞争力或是每况愈下的工
业所造成的复杂的社会后果。

The conclusion we reached in Britain is that change simply cannot sensibly be put
off. For an industry to have a viable（可行的，能养活的） future it must learn to
compete on its own merits. Of course change must be managed sensitively, with care.
But jobs that depend on protection and subsidy （补助金，津贴）cannot be sustained
（持续不变的，相同的） or long.

我们英国人得出的结论是，改革是大势所趋。一个工业要生存下去，就必须学会靠自身的力
量去竞争。当然，处理变革问题应该十分谨慎。但依赖保护和补贴来保障就业是不能持久的。

By contrast, the British experience is that the industry that can adapt to the demands
of competition will usually thrive（兴旺，繁荣）. The enterprise that best meets the
needs of its customer, at the best price. Offers the most secure future for its
workers.

英国的经验是，能够适应竞争的工业通常会昌盛。那些能以最低价格最大限度地满足客户要
求的企业就能为其工人提供最可靠的前途保障。

That is why the British Government believes strongly in the case for economic
liberalization and deregulation（违反规定，反常） at home.

这就是为什么英国政府坚信应当在国内实行经济自由化和撤销经济管制。

But the policy consequences of this are not solely （单独地，独自地）domestic.
但这样做的政策性影响并不仅限于国内。
2

With the liberalization of world trade, economic competition now means international
as well as domestic competition.

随着世界贸易的自由化，现在的经济竞争意味着既是国际的竞争，也是国内的竞争。
Opening up national economies brings fresh challenges as well as new opportunities.
New opportunities to do business and win investment; but fresh challenges from foreign
firms too, new competition in established markets at home and abroad.

开放本国经济既带来新的挑战，也带来新的机遇，既带来新的商业和投资机会，也带来外国
公司的新的挑战以及在国内外业已发育健全的市场上的新的竞争。

For Britain our membership （成员资格，成员人数）of the European Union and World Trade
Organisation has brought this home. But we accept that because we have recognized
that free trade is not a zero-sum game.

对我们英国来说，我们参加欧盟和世界贸易组织的经历使我们对这一点深有感触。但我们接
受这一现实，因为我们认识到自由贸易不是一种你输我赢的游戏。外国投资若投向合理，则
可使投资方和接受投资方均收益。

There is no finite stock of economic activity, which can grow in one country only
at the cost of decline in another.
Rather, increased trade generates further growth, further prosperity for all
participants（参与者，共享者，参与的）.

也就是说，一个国家的增长并非必须建立在另一个国家的经济衰退的基础之上。相反，贸易
的扩大会带来进一步的经济增长，使所有参与 者更加繁荣。

Foreign investment, successfully deployed, benefits donor（损赠人） and recipient
（容易接受的，感受性强的，容纳者，容器）alike.

外国投资若投向合理，则可使投资方和接受投资方均收益。
So economic interdependence （互相依赖）is not a hazard （冒险，危险，冒险的事）
to be minimized （最小化，将……减到最少）or avoided; but an opportunity ot be promoted
and exploited.

因此，经济上的相互依存并不是一种有害物，不需将其缩小到最低程度或加以避免；相反；
它给我们提供了机会，我们应予以促进和利用。

Exploiting the opportunity depends crucially on establishing a strong international
framework（框架结构） of rules and multilateral（多边的，多国的）
disciplines（纪律，学科）. I will return to this point in a moment.

而要利用这种机会，就必须依靠在国际上建立一种强有力的多边规则的框架。后面我将将谈
到这一点。