链男4经降贸多大是 高级商务英语阅读 the Executive Branch.Because the Fast Track Bill passed,Congress will now only be able to vote YES or NO on the complete FTAA.Many will be reluctant to turn down the whole package for the sake of a few missing environmental or labor standards.The FTAA will be proposed to Congress in 20030r2004 3.About U.S Trade Deficits Over the past decade,U.S.trade deficits have grown steadily.As each monthly report of the latest trade statistics is released,the print media and the broadcast news carry commentaries and debates over the causes of the deficit and its consequences.Some take the position that trade deficits are the result of U.S.prosperity and that the inflow of foreign capital and goods have kept inflation and interest rates low and boosted productive investments:they are essential components of American prosperity.Others see a more troubling side to the deficits.They see the deficits as evidence that globalization and the workings of the world trading system pose threats to continued U.S.prosperity. Democratic and Republican Commissioners hold differing views on the causes of the trade and current account deficits. In the view of the Republican Commissioners,U.S.and foreign macroeconomic performance primarily cause trade and current account deficits.In the 1990s,the relative strength of the U.S. economy led to substantially increased imports,while the relative weakness of many of their trading partners led to much slower growth in exports.The long-standing tendency for U.S.imports to grow faster than U.S.income adds to this faster growth in imports compared to exports.Trade barriers are objectionable,but not because they are a major cause of trade deficits.International capital flows,in their view,are also a consequence of the relative strength of the U.S.economy. With a higher rate of return on investments here than in other countries,the United States is an attractive target for investment.This brings substantial benefits to the United States.In particular, since total saving in the United States is less than total investment,capital inflows help to finance investment that otherwise could not occur.Furthermore,the large net capital inflows have been keeping the dollar stronger than it would be otherwise.The strong dollar makes U.S.exports less 第3页共7页高级商务英语阅读 the Executive Branch. Because the Fast Track Bill passed, Congress will now only be able to vote YES or NO on the complete FTAA. Many will be reluctant to turn down the whole package for the sake of a few missing environmental or labor standards. The FTAA will be proposed to Congress in 2003 or 2004. 3. About U.S Trade Deficits Over the past decade, U.S. trade deficits have grown steadily. As each monthly report of the latest trade statistics is released, the print media and the broadcast news carry commentaries and debates over the causes of the deficit and its consequences. Some take the position that trade deficits are the result of U.S. prosperity and that the inflow of foreign capital and goods have kept inflation and interest rates low and boosted productive investments: they are essential components of American prosperity. Others see a more troubling side to the deficits. They see the deficits as evidence that globalization and the workings of the world trading system pose threats to continued U.S. prosperity. Democratic and Republican Commissioners hold differing views on the causes of the trade and current account deficits. In the view of the Republican Commissioners, U.S. and foreign macroeconomic performance primarily cause trade and current account deficits. In the 1990s, the relative strength of the U.S. economy led to substantially increased imports, while the relative weakness of many of their trading partners led to much slower growth in exports. The long-standing tendency for U.S. imports to grow faster than U.S. income adds to this faster growth in imports compared to exports. Trade barriers are objectionable, but not because they are a major cause of trade deficits. International capital flows, in their view, are also a consequence of the relative strength of the U.S. economy. With a higher rate of return on investments here than in other countries, the United States is an attractive target for investment. This brings substantial benefits to the United States. In particular, since total saving in the United States is less than total investment, capital inflows help to finance investment that otherwise could not occur. Furthermore, the large net capital inflows have been keeping the dollar stronger than it would be otherwise. The strong dollar makes U.S. exports less 第 3 页 共 7 页