trade imbalance by means of exchange rate,Zhou answered that a country's exchange rate depends on the country's overall trade balance rather than on bilateral trade balance.Bilateral trade balance may be affected by structural,policy and other factors. The US trade deficit may be attributable to structural imbalances and fiscal deficits in the United States rather than the RMB exchange rate Second listening:listen for specific information In this part the teacher has great freedom and flexibility to ask students questions,to clarify any difficult language points,to add in supplementary materials as background knowledge or in-depth understanding of the listening materials. Notice how these expressions are related to foreign exchange rate and trade balance. fixed exchange rate,floating exchange rate,managed floating exchange rate regime, currency appreciation,devaluation,the floating band,foreign exchange control, current account balance,trade surplus,trade deficit,foreign reserves growth,capital inflow,balance of payments,bilateral trade balance,multilateral-trade balance, structural imbalances and fiscal deficits Ask students to fill in the table with correct information to make a summary of the interview.Compare answers. Ask students to answer the following questions.Compare answers. Third listening:sentence imitation Ask students to use the following active vocabularies to form sentences as what they have heard from listening(Dictate then remember). 1.to come into existence--China's current unified,managed floating exchange rate regime based on market supply and demand of foreign exchange came into existence in 1994. 2.to appreciate--Between 1994 and 1997,the exchange rate of the RMB against the US dollar appreciated from 8.7 1,reflecting the feature of a managed float regime. 3.floating band--At the end of 1997,at the request of neighboring economies and international institutions,China substantially narrowed the floating band of the RMB exchange rate to help reduce the shock of the Asian financial crisis and dispel the fear of RMB devaluation. 4.to pursue--The Chinese government does not pursue trade surplus,but rather aims at a rough overall balance in the current account. 5.to be compatible with--Since China recorded limited foreign reserves in the 1990s,it was necessary to expand them to be compatible with the level of import and external debts. 6.to entail--It was not until the end of 2001 that China was accepted as a member of WTO,which entailed a series of trade reforms.trade imbalance by means of exchange rate, Zhou answered that a country's exchange rate depends on the country's overall trade balance rather than on bilateral trade balance. Bilateral trade balance may be affected by structural, policy and other factors. The US trade deficit may be attributable to structural imbalances and fiscal deficits in the United States rather than the RMB exchange rate. Second listening: listen for specific information In this part the teacher has great freedom and flexibility to ask students questions, to clarify any difficult language points, to add in supplementary materials as background knowledge or in-depth understanding of the listening materials. ‹ Notice how these expressions are related to foreign exchange rate and trade balance. fixed exchange rate, floating exchange rate, managed floating exchange rate regime, currency appreciation, devaluation, the floating band, foreign exchange control, current account balance, trade surplus, trade deficit, foreign reserves growth, capital inflow, balance of payments, bilateral trade balance, multilateral-trade balance, structural imbalances and fiscal deficits Ask students to fill in the table with correct information to make a summary of the interview. Compare answers. Ask students to answer the following questions. Compare answers. Third listening: sentence imitation Ask students to use the following active vocabularies to form sentences as what they have heard from listening (Dictate then remember). 1. to come into existence -- China's current unified, managed floating exchange rate regime based on market supply and demand of foreign exchange came into existence in 1994. 2. to appreciate -- Between 1994 and 1997, the exchange rate of the RMB against the US dollar appreciated from 8.7 1, reflecting the feature of a managed float regime. 3. floating band -- At the end of 1997, at the request of neighboring economies and international institutions, China substantially narrowed the floating band of the RMB exchange rate to help reduce the shock of the Asian financial crisis and dispel the fear of RMB devaluation. 4. to pursue -- The Chinese government does not pursue trade surplus, but rather aims at a rough overall balance in the current account. 5. to be compatible with -- Since China recorded limited foreign reserves in the 1990s, it was necessary to expand them to be compatible with the level of import and external debts. 6. to entail -- It was not until the end of 2001 that China was accepted as a member of WTO, which entailed a series of trade reforms. 5