On December11,2001,after15years of negotiations,the world’s most populous country finally joined the world’s most important trade body.Yet China’s accession to the WTO,although hailed by some as signaling“a seismic shift in global marketing”,should nudge perceptive observers to look beyond the rhetoric and focus on the actions that will be needed to prosper in China’s complex market.Those who fail to do so will likely experience more pain than profit.
Far from being a signal that foreign companies can sweep into China and establish market dominance,WTO accession marks the first milestone in what promises to be a long and potentially grueling contest between foreign and local brands.（1）Foreign products were perceived to be inherently more desirable than local ones even if they were less affordable.But a growing brand savvy among Chinese enterprises is rapidly eroding this perception,making it harder for foreign companies to establish and maintain leadership in China.
（2）Foreign companies will also have to adjust to the realities of being guests in a country undergoing profound social and economic stress.For the first time, Chinese enterprises will face full-blown international competition and closer regulatory scrutiny from entities located outside their own borders.（3）The huge tasks of restructuring state-owned enterprises and getting rid of the social welfare
system of the past half century are certain to make the next5to10years difficult for many Chinese,no matter how smoothly the government manages the transition.
China represents a potential goldmine for the ambitious marketer.（4）In addition to having a large and growing number of middle-class consumers,it has shown a singular genius for weathering the financial and economic storms that have attacked other countries in Asia and throughout the industrialized world. Many foreign companies are thriving here.Starbucks,Kentucky Fried Chicken,and McDonald’s dot the maps of China’s major cities,while technology companies such as IBM,Nokia,and Motorola are among the most successful brands in their categories.The growth extends into the financial and professional services sectors as well.
（5）Yet foreign brands face a serious challenge in China,and for those who care to read them,the warning signs are already visible:strong local brands, Chinese nationalism and the readiness of local firms to compete according to the new rules of the game.
（1）【解析】本句翻译应注意把if they were less affordable修饰成分适当放置，使之符合汉语习惯。
【译文】外国生产的产品，即便价格不菲，和国产的相比，仍然受国人青睐。（2）【解析】要将句中的时间状语前置，这样显得更加合理。翻译adjust to the realities of being guests时要适当增词，“针对…这一实际情况”。
（3）【解析】本句要把no matter how引导的让步状语从句放在句首，另外还要适当加词“沿用的”，使意思更加完整。are certain to译为“一定会”就不如“无疑会”
（5）【解析】本句主要是处理好strong local brands,Chinese nationalism等专有术语的翻译。
Most U.S.businesses,large or small,belong to what is called the private enterprise system.（1）This means simply that firms operate in a dynamic environment where success or failure is determined by how well they match and counter the offerings of competitors.Competition is the battle among businesses
for consumer acceptance.（2）Sales and profits are the yardsticks by which such acceptance is measured.
（3）The business world has abundant examples of firms that were once successful but that failed to continue satisfying consumer demands.Competition assures that,over the long run,firms that satisfy consumer demands will be successful and those that do not will be replaced.
The private enterprise system requires that firms continually adjust their strategies,product offerings,service standards,operating procedures,and the like.（4）Otherwise the competition will gain higher shares of an industry’s sales and profits.Consider the following cases.A&P was long the largest supermarket chain. Now Safeway is the largest,and A&P is attempting a recovery.Ford once was the dominant automaker.Today,it is second to General Motors,among domestic producers.These events suggest the dynamic environment of the private enterprise system.
（5）Competition is a critical mechanism for guaranteeing that the private enterprise system will continue to provide the goods and services that make for high living standards and sophisticated life styles.Few organizations that offer a product or service can escape the influence of competition.The American Cancer Society competes for contributions with the American Heart Association,your own college,and other nonprofit enterprises（非盈利企业）.The armed forces compete in the labor market with private employers.Even the U.S.Postal Service faces competition.United Parcel Service competes for package shipments（包裹运输）.
Express Mail faces competition from Western Union’s mailgrams.And firms like The Mailbox,which rents post office boxes in the Seattle area,compete for the post-office-box business.
（1）【解析】本句是一个主从复合句。This没有实际意义，可将This means simply译为“简言之”。where引导的定语从句修饰environment，由于本句的定语从句较
需增译“企业”。“a dynamic environment”表示“动态环境”，“be
determined by”的意思是“取决于”。“how well”引导名词从句作宾语。
（2）【解析】本句是一个简单句，为主系表结构。介词+which引导定语从句修饰表语yardstick，翻译时根据汉语习惯，将定语前置。“be measured by”表示“由…
最后说明主体。“fail to”表示“未能…”。“continue doing”的意思是“继续
（4）【解析】Otherwise表示对上文内容的转折。higher作形容词比较级表示“更高”的意思。“an industry’s sales and profits”译为“企业销售额和利润”。此处需
（5）【解析】本句结构较复杂，句子主干是Competition is a critical mechanism。其中第一个that是引导宾语从句，第二个that引导定语从句修饰the goods and
The Great Depression（大萧条）was the longest and most severe period of economic depression ever experienced by the United States.It began with a collapse of prices on the New York Stock Exchange（NYSE）in October1929,and did not end until the United States entered World WarⅡin late1941.At its worst point—in early1933—the American economy seemed on the verge of total collapse.National income had declined by almost one-half in a little over3years; capital investment had dropped to the point where net investment was negative; and one out of three people in the labor force was out of work.
Recovery from the depths of this economic decline was excruciatingly slow.In 1941,12years after the initial shock of the stockmarket crash,more than10percent