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Unit 1 1

Text A China's Securities Markets Open to Foreign Investment 1

Text B Euro-area Economies in 2002 13

Unit 2 17

Text A The Monetary Focus 17

Text B Convergence Period 29

Unit 3 34

Text A Housing Market 34

Text B Promoting the Noble Cause of Commerce 45

Unit 4 50

Text A Automobile Industry 50

Text B Battling over the Bankrupt 62

Unit 5 66

Text A IT Grows UP 66

Text B Corporate Governance with Chinese Characteristics 76

Unit 6 86

Text A United Seeks Bankruptcy Protection 86

Text B “Creative Destruction”and United Airlines 97

Unit 7 101

Text A Polishing Its New Industry 101

Text B Yanking the Welcome Mat for Foreign MBAs 111

Unit 8 115

Text A Is Britain Europe's New Sick Man? 115

Text B Rate-Cutting Time in Europe? 124

Unit 9 128

Text A Intel's $10 Billion Gamble 128

Text B Shenzhen：The New Bangalore? 137

Unit 10 141

Text A What's Next On the Agenda? 141

Text B China's Year in WTO Gets a Mixed Review 150

Unit 11 153

Text A international Finaneial System Meets Challenge 153

Text B Learning to Love the Euro 163

Unit 12 167

Text A Gares Against a Wall 167

Text B Asian Seeks Regiollal Trade Pacts 176

Unit 13 179

Text A Women Directors in the USA 179

Text B Cains for the Individual Firm 186

Unit 14 189

Text A India Versus Coca Cola and IBM 189

Text B Youths Dream of Easy,Online Wealth Get-Rich-Quick Plans Crushed 197

Unit 15 201

Text A China's Technology Trade and Development of Hi-Tech Sectors 201

Text B Dotcoms Losing Their Wizards 211

Unit 16 215

Text A Corporate America's Woes 215

Text B Economy Crows at Brisk 4 Percent Rate 227

Unit 17 231

Text A Securing the C1oud 231

Text B Asian Stock Markets Retreat, Fresh U.S.Data Looms 243

Unit 18 246

Texl A A New Kind of Solidarity 246

Text B Big Retail Holiday Weekend Raises Hope 258

Unit 19 262

Text A The Unlikeliest Scourge 262

Text B Corrected-Forex-Weak U.S.Stocks Undermine Dollar 274

Unit 20 278

Text A President Holds Town Hall Forum on Economy in California 278

Text B Economy Recovers But Not Totally Healthy 287

Unit 21 290

Text A Does Population Matter? 290

Text B A Year of Surprises 299

Unit 22 304

Text A Economic Trends 304

Text B Business Travel 313

Unit 23 316

Text A Miracle Economy? 316

Text B Cash in on Your Vision 325

Unit 24 329

Text A The Future Prospects of U.S.-China Economic Relations 329

Text B Bush to Settle on Key Players of Economic Team 338

Unit 25 343

Text A Let It Snow 343

Text B Oil Jumps as Venezuela Strike Continues 351

Unit 26 354

Text A Beyond Solvency 354

Text B Orders Show Japan Recovery in Rut 360

Unit 27 365

Text A The Economics of Terrorism 365

Text B Funds:"Taking on"Mutual Funds 373

Unit 28 376

Text A Social Seeurity Privatization—Tax Increases 376

Text B Jobless Rate Soars,Matches 8-Year High 384

Unit 29 389

Text A Social Security Privatization—Benefit Cuts and Government Investing 389

Text B Asian Stock Markets Close Lower 397

Unit 30 400

Text A Taming the Oil Beast 400

Text B China：The Tricks of Trade 409

Keys to the Exercises 413