the low-priced"Made-in-China" products that help keep inflation under control In his presentation at an economic forum, Brown reminded the price-sensitive Britons that Chinese-made commod ities have not only helped bring down the inflation figures but also made the already rich countries like Britain richer Consider the following figures. Over the past 10 years, the total cost of living in Britain, as measured by the official consumer price index, has risen by just 14 percent But that very modest average increase has included high inflation in some categories school fees, for example, are up 62 percent, hairdressing up 58 percent, holidays up 52 percent, and eating out up 33 percent on average, with top London restaurant prices showing much faster growth. Why then has the total cost of living remained so stable? The answer to the question, the professor said, is not just interesting in its own right, but tells Britons a surprising amount about what is happening today not only in Britain but in the world economy as a whole Because the prices of mass-produced goods have been plunging: clothes prices down by 42 percent in a decade, shoes by 3 1 percent and consumer electronics by 63 Professor Brown said that this relates to China's entry into the global economy. B becoming the workshop of the world, China has pushed down the prices of all mass-produced goods Keys: 1.F 2T 3.F 4T 5T Task3: Cars sell well in China Script Although automobile prices in China are among the highest in the world, cars are still selling like hotcakes, the Beijing-based reported Statistics show that China has been the top consumer of limousine brands such Rolls-Royce and Bentley, and their sales volume accounts for almost 20 percent of the total in the whole asian continent According to German figures, China has been the biggest market for BMW and Mercedes-Benz in the world combined with a sales volume between 6.000 to 7.000 units every year The newspaper said various famous international car makers are competing with one another now for more market share in China. Mercedes- Benz is cooperating with Chinese institutions on car research and plans to establish a design center here Meanwhile, Volkswagen, also from Germany, has set up a new lab center in beijing ndicates that among multinational car producers in China now includes research in add ition to sale As a price gap exists between China's and the international auto market, the returns on luxury cars from the domestic market are much higher than the five-percent profit margin in the international market. Over 30 percent of the manufacturers'gains9 the low-priced “Made-in-China” products that help keep inflation under control. In his presentation at an economic forum, Brown reminded the price-sensitive Britons that Chinese-made commodities have not only helped bring down the inflation figures, but also made the already rich countries like Britain richer. Consider the following figures. Over the past 10 years, the total cost of living in Britain, as measured by the official consumer price index, has risen by just 14 percent. But that very modest average increase has included high inflation in some categories: school fees, for example, are up 62 percent, hairdressing up 58 percent, holidays up 52 percent, and eating out up 33 percent on average, with top London restaurant prices showing much faster growth. Why then has the total cost of living remained so stable? The answer to the question, the professor said, is not just interesting in its own right, but tells Britons a surprising amount about what is happening today not only in Britain but in the world economy as a whole. Because the prices of mass-produced goods have been plunging: clothes prices down by 42 percent in a decade, shoes by 31 percent and consumer electronics by 63 percent. Professor Brown said that this relates to China’s entry into the global economy. By becoming the workshop of the world, China has pushed down the prices of all mass-produced goods. Keys: 1.F 2.T 3.F 4.T 5.T Task3: Cars sell well in China. Script Although automobile prices in China are among the highest in the world, cars are still selling like hotcakes, the Beijing-based reported. Statistics show that China has been the top consumer of limousine brands such as Rolls-Royce and Bentley, and their sales volume accounts for almost 20 percent of the total in the whole Asian continent. According to German figures, China has been the biggest market for BMW and Mercedes-Benz in the world, combined with a sales volume between 6,000 to 7,000 units every year. The newspaper said various famous international car makers are competing with one another now for more market share in China. Mercedes-Benz is cooperating with Chinese institutions on car research and plans to establish a design center here. Meanwhile, Volkswagen, also from Germany, has set up a new lab center in Beijing. The founding of these research and design centers indicates that the competition among multinational car producers in China now includes research in addition to sales. As a price gap exists between China’s and the international auto market, the returns on luxury cars from the domestic market are much higher than the five-percent profit margin in the international market. Over 30 percent of the manufacturers’gains