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But large increases in public investment in infrastructure, education, and technology will also be needed.
但是也有必要大幅加大在基礎設施,教育和科技方面的公共投資。
翻譯成英文。
These will have to be financed, at least in part, by the imposition of environmental taxes, including carbon taxes, and taxes on the monopoly and other rents that have become pervasive in the market economy – and contribute enormously to inequality and slow growth.
而這些投資的資金,至少部分地,都可以通過包括碳稅在內的環境稅,以及對已經在市場經濟中產生負面效應的——並極大催生不平等狀況和低增長——的壟斷以及其他租金徵稅來籌集。
翻譯成英文。
The views expressed here do not reflect the views of the United Nations or its member states.
本文觀點並不反映聯合國及其會員國的意見。
翻譯成英文。
誰來保護弱者?
Who Will Help the Poor?
翻譯成中文。
PARIS – With the deepening of the economic crisis and the prospect of another recession looming large on the horizon, growing social inequality has become an increasingly urgent issue.
巴黎——經濟危機進一步加深,衰退前景再度出現,這一切也加劇了社會不平等,使其成為日益嚴峻的一個問題。
翻譯成英文。
How does one reinforce a sense of solidarity and responsibility within a country?
如何才能在一個國家內部加強歸屬感和責任感?
翻譯成英文。
誰來保護弱勢者的權益?
Who will protect the weakest?
翻譯成中文。
As I ponder this issue, I am reminded of a debate that I had more than ten years ago in Berlin with the German theologian Hans Küng and American and Asian participants.
在思考這個問題之際,我回想起十多年前在柏林同德國神學家孔漢斯(Hans Küng)的一場辯論,當時參加討論的還有來自美國和亞洲的人士。
翻譯成英文。
The subject was “Globalization and Ethics” – specifically, a comparison of the ways that Europe, the United States and Asia protect the most fragile members of their respective societies.
討論的主題是“全球化與倫理學”——具體而言,是對歐洲、美國和亞洲保護弱勢社會成員的方式做一個比較。
翻譯成英文。
我們一致認為,傳統上,扮演這個保護者角色的,在歐洲是國家,在美國是私營慈善事業,在亞洲則是家庭。
All of the participants agreed that in Europe the state traditionally filled the role played by private philantropy in the US and by the family in Asia.
翻譯成中文。
But we all hastened to add that no model was “pure,” i.e., the family was no longer what it used to be in Asia, the state was playing a bigger role than expected in America, and it was often underperforming in Europe.
但我們都連忙補充說,沒有哪種模式是“純粹的”,比方說,亞洲的家庭早已不是原先那樣,國家在美國所起的作用超出人們的預想,而在歐洲則往往表現得不盡人意。
翻譯成英文。
Reality has become even more complicated since then: the family’s role continues to decline in Asia; philantropy, despite a few extraordinarily generous individuals, has more than met its limits in America; and, with the possible exception of the Nordic countries, the state in Europe, overburdened by debt, no longer has the means or the will to shoulder new responsibilities.
美國的慈善事業遭遇瓶頸,除了幾個慈善家特別慷慨以外,整體上不進反退; 而歐洲的國家被債務壓得喘不過氣來,已沒有能力和意願去肩負新的責任——北歐國家可能算是例外。
翻譯成英文。
如果上述三個能動因素統統失靈,還能指望誰去保護弱者?
So who will take on the responsibility to protect the weakest if none of these three actors can do it properly?
翻譯成中文。
Are we heading toward a world united by shared incompetence and inadequacy?
這個世界是不是正在走向集體無能的境地?
翻譯成英文。
在西方,窮人是經濟停滯最大的受害者。
In the Western world, the poorest are the worst affected by economic stagnation.
翻譯成中文。
But, in rapidly growing emerging-market countries, the rich tend to close their eyes to the suffering of the poorest, except when they feel threatened by the risk of political upheaval, as in, say, Saudi Arabia.
即使在經濟快速增長的新興市場國家,新富們也對窮人的苦難視而不見,只有政治動亂迫近的威脅才能令他們有所醒悟,就像在沙特那樣。
翻譯成英文。
事實上,新興國家的富裕精英階層,其生活方式就是在排斥窮人,就是在漠視窮人。
In fact, wealthy elites in emerging countries live in a state of denial towards their poor, literally ignoring them.
翻譯成中文。
這情況在巴西和印度尤其令人觸目驚心。
Brazil and India are particularly striking in this regard.
翻譯成中文。
Economic growth is necessary, but not sufficient: a strong sense of social responsibility is needed as well.
經濟增長是必要的,但光有增長是不夠的:對社會責任的強烈意識也不可或缺。
翻譯成英文。
It would be absurd to condemn, as some do, globalization as the main and only culprit in the erosion of traditional sources of support for the poor.
光去譴責全球化,說它是侵蝕傳統弱者保護網的主要嫌疑犯,甚至是唯一的嫌疑犯,無疑是荒謬的。
翻譯成英文。
全球化最多隻是一個背景、一種環境,儘管全球時代的第一場金融經濟大危機的確把富豪和赤貧之間的差距進一步拉大了。
Globalization is above all a context, an environment, even if the consequences of the first major financial and economic crisis of the global age will further deepen the gap between the very rich and the very poor.
翻譯成中文。
但全球化也凸顯了弱者的處境,從而令社會公正的缺位顯得尤其不可容忍。
But globalization makes the weakest among us more visible, and therefore makes the absence of social justice more unacceptable.
翻譯成中文。
在一個具有更高透明度和更大相依性的世界裡,富人面臨著新的責任。
A world of much greater transparency and interdependency creates new responsibilities for the rich.
翻譯成中文。
Or, more precisely, it makes the old responsibility to protect the weakest both more difficult and more urgent.
說得更準確一點,它令保護弱勢者的舊有責任變得更加困難和更加緊迫。
翻譯成英文。
In a world of increasing complexity, perhaps what is needed are simple solutions.
在一個變得日益複雜的世界裡,也許恰恰需要簡單的辦法。
翻譯成英文。
One could follow, for example, Adam Smith’s principle of comparative advantage: what Europe does best is the state, while Asia still relies on the family and the US continues to focus on individual initiative.
例如,人們可以遵循亞當·斯密的比較優勢原理:歐洲的強項是國家,亞洲仍然依賴家庭,美國繼續堅持個人善舉。
翻譯成英文。
The problem is that in a world of universal benchmarking, the legitimacy of solutions will stem more than ever from their cultural acceptability and their efficiency.
問題是在一個普世對標的世界裡,各種辦法的合法性以前所未有的程度依賴於文化相容性和效果的優劣性。
翻譯成英文。
In Western Europe, for example, the call for sacrifice from all citizens in order to resolve the debt crisis runs up against a lingering perception that not all will contribute equally, and that social inequality will be exacerbated by austerity.
例如,在西歐,呼籲全體公民為解決債務危機做犧牲,在一種根深蒂固的感受面前變得蒼白無力:每個人的犧牲並不平等,削減福利會加劇社會不公。
翻譯成英文。
Restoring growth in the short term while addressing debt problems in the medium and long term may well be the only valid response to the crisis.
但是,短期內重振經濟增長,中長期內解決債務問題,畢竟是應對危機的唯一恰當方式。
翻譯成英文。
But it will not work, in Europe or elsewhere, without a much greater emphasis on social justice.
然而,不論是在歐洲或是其他地方,假如不加大力度強調社會公平,這些應對方式就無法奏效。
翻譯成英文。
不過,像沃倫·巴菲特等富豪直言自己納稅太少的開明、慷慨之舉——當然,他們是為了拯救資本主義和自由主義——不太可能得到新興市場國家新富們的群起效仿,更不容易在其他國家的富人群體中一呼百應。
While some of the very rich complain, as Warren Buffett did recently, that they do not pay enough taxes, the enlightened generosity of these happy few – who want to save capitalism and liberalism – is unlikely to be emulated by the new rich in the emerging countries, much less by the rich elsewhere.
翻譯成中文。
Let’s be realistic: people like Buffett and Bill Gates have very few followers even among the very rich in the US.
我們得現實一點看問題:像巴菲特和比爾·蓋茨那樣的慈善富豪,即便是在美國這樣的富裕國家,也響應者聊聊。
翻譯成英文。
And can Asian societies really revive an effective sense of family responsibility?
此外,亞洲社會真的能夠復興家庭的責任感嗎?
翻譯成英文。
Globalization does appear to have weakened cultural differences noticeably in the past decade.
過去十年,全球化的確顯著地敉平了文化差異。
翻譯成英文。
But, when it comes to the protection of the weakest and the struggle against rising social injustice, perhaps “global deculturation” creates an opportunity to combine the best of what remains in particular traditions.
但是,在保護弱勢者、抵抗社會不公加劇勢頭方面,這種“文化差異的全球化消除”也許恰恰創造了一個機會,令我們可以把各個傳統中的精華部分結合起來。
翻譯成英文。
也許,各國都應嘗試在綜合國家、家庭和慈善的基礎上重建社會福利體系。
Perhaps countries should seek to base their social-welfare systems on a new synthesis of the state, the family, and philanthropy.
翻譯成中文。
為何班農必須走人
Why Bannon Had to Go
翻譯成中文。
發自華盛頓特區——在許多(如果不是大多數)美國政府機構中,總會不時有些人物冒起並讓新聞界確信,如果沒有他(目前還沒有“她”)總統就沒法幹活了。
WASHINGTON, DC – In many, if not most, US administrations, some figure emerges who convinces the press that the president couldn’t function without him (it’s yet to be a her).
翻譯成中文。
事實上,一位不可或缺的助手是當代總統制最為常見的比喻之一。 卡爾·羅夫(Karl Rove)是“布什的大腦”;
The indispensable aide is, indeed, one of the most well-worn tropes of the modern presidency.
翻譯成中文。
哈里·霍普金斯(Harry Hopkins)幫助富蘭克林·德拉諾·羅斯福(Franklin Delano Roosevelt)打點其規模龐大的白宮團隊; 比爾·莫耶斯(Bill Moyers)在雜誌封面上的稱號是“約翰遜總統的天使”。
Karl Rove was “Bush’s Brain”; Harry Hopkins held Franklin Delano Roosevelt’s prolific White House team together; Bill Moyers appeared on a magazine cover as “Johnson’s Good Angel.”
翻譯成中文。
Without such a figure, the story inevitably goes, the administration would be a mess, if not a disaster.
倘若缺少了這樣一位人物,這個故事就會不出意料地出問題,政府也會變得一團糟(如果算不上一場災難的話)。
翻譯成英文。
通常,這一比喻是由那個特定的不可或缺的人物發明或鼓勵的。
As often as not, the trope is invented or encouraged by the particular indispensable figure.
翻譯成中文。
對於記者來說,尋找一個好故事最重要,而這故事是否有切實的依據則不在考慮之列:這個人物會對一切問題予以澄清,也給新聞界一些爆料去寫在文章裡。
Journalists usually fall for the story, regardless of how well-founded it is: it clarifies everything, and it gives them something to write about.
翻譯成中文。
The indispensable aide is only too happy to reveal some dramatic story about how he saved the day, devised some particularly ingenious idea, or prevented some terrible mistake.
這位不可或缺的助手也非常樂意透露一些關於他如何力挽狂瀾,構思了一些特別巧妙的想法,或者制止了某些可怕錯誤的戲劇性故事。
翻譯成英文。
但有時這位所謂重要人物也會玩得過火。
But, as often as not, the soi-disant crucial figure oversteps.
翻譯成中文。
在里根治下的白宮,接替詹姆斯·貝克(James Baker)擔任幕僚長的唐·雷根(Don Regan)把自己當成了總理。 他讓自己出現在了里根總統和蘇聯領導人米哈伊爾·戈爾巴喬夫的合影中,對下屬(包括記者)舉止粗暴,而他的致命錯誤則是將千方百計想照顧自己丈夫的南希·里根拒之門外。
In the Reagan White House, Don Regan, who succeeded James Baker as Chief of Staff, fancied himself the prime minister: he inserted himself into photos of Reagan with Soviet leader Mikhail Gorbachev, was rude to lesser beings (including reporters), and made the fatal mistake of hanging up on Nancy Reagan, who was dedicated to looking after her Ronny.
翻譯成中文。
結果雷根很快就被趕走了。
Regan was soon out.
翻譯成中文。
Presidents themselves aren’t particularly fond of reading how some super-smart aide saved their bacon.
而總統自己其實也並不特別喜歡讀到那些超級助手如何挽救大局的故事。
翻譯成英文。
All presidents have healthy egos – if others are so smart, why aren’t they president?
所有總統都有正常的自我認知——如果他人如此睿智,為啥不把這些人選為總統?
翻譯成英文。
The wise president-elect identifies a peacock and avoids the species from the start, or knows how to keep its feathers in check.
聰明的總統當選人會識別出那些愛出風頭的傢伙並從一開始就敬而遠之,或者知道如何讓他們收斂好自己。
翻譯成英文。
Barack Obama was plenty pleased with himself, with reason, but such was his dignity that no super-aide emerged during his presidency.
比如奧巴馬總統就有足夠的理由自視甚高,而他的尊嚴就體現在他擔任總統期間沒有出現超級助手。
翻譯成英文。
It didn’t occur to his advisers to try to outshine him.
他的顧問們也沒有想去搶他的風頭。
翻譯成英文。
作為白宮助手,斯蒂芬·班農(Stephen Bannon)算不上特別聰明——因為他無法遏制自己內心的表演慾——而唐納德·特朗普的自我又特別脆弱。
Stephen Bannon wasn’t particularly wise as a White House aide – he couldn’t contain his inner peacock – and Donald Trump’s ego is particularly fragile.
翻譯成中文。
他們兩人所扮演的角色是錯位的。
Both are or were misfits in their roles.
翻譯成中文。
特朗普過往的商界生涯都被家庭成員和朋友所環繞,沒怎麼和那些野心勃勃的股東或副主席打過交道。
Trump had spent his business life surrounded by family and flunkies: no stockholders or vice chairmen with their own ambitions.
翻譯成中文。
The two men were a mismatch made in White House hell.
這兩個人堪稱是白宮地獄裡的一對錯配冤家。
翻譯成英文。
As a candidate, Trump went with his instincts, and his instinct in the 2016 presidential race was that blue-collar workers and others who feared for their economic future needed their own victims, be they Mexican immigrants or billionaire bankers.
作為候選人,特朗普靠自己的直覺行事,而他在2016年總統競選中的直覺就是藍領工人和其他擔心自身經濟前景的人們需要找一個替罪羊——不管是墨西哥移民還是億萬富翁銀行家都行。
翻譯成英文。
一堵牆——無論是幻想還是真實——會阻止墨西哥把“壞人”“送到我們這邊”。
A wall – phantasmagorical or not – would keep out the “bad people” Mexico was “sending us.”
翻譯成中文。
正如我們所看到的那樣,在特朗普周圍的所有人中班農與這些觀點最為契合。
As it happened, of all the people around Trump, Bannon most matched these views.
翻譯成中文。
A person like Bannon – who presents himself as a learned figure and confirms one’s own brilliance – is a person one wants to have close by.
一個像班農這樣的人——看似極為睿智並且映襯出了總統的英明——必然是成為親密戰友的好人選。
翻譯成英文。
Trump is essentially a “whatever works” kind of guy.
特朗普本質上是個“拿來主義者”。
翻譯成英文。
當選後他邀請了多位億萬富豪來擔任要職,到目前為止似乎已經成功避免他的支持者認為他需要一些真正有錢的人來經營這個國家。
Once elected, he brought in billionaires to populate his cabinet, and so far seems to have gotten away with telling his supporters that really rich people are needed to run the country.
翻譯成中文。
Bannon, on the other hand, wrapped himself in what might be loosely termed a philosophy, which consisted of a nihilistic anger toward any “establishment.”
另一方面,班農則把自己包裝成一種不太嚴謹的所謂哲學,其中包括對任何“體制”的無政府主義抵制。
翻譯成英文。
But his was faux populism: while Bannon politically championed blue-collar workers, he lived on the millions he had attained from a stint at Goldman Sachs and through a fortunate investment in the TV comedy series “Seinfeld.”
但他的民粹主義其實是個假貨:當班農在政治上為藍領工人站臺的時候,他手裡的幾百萬美元卻是靠當年在高盛集團任職以及對電視喜劇《宋飛正傳(Seinfeld)》的幸運投資賺來的。
翻譯成英文。
他的成功同時還來自於默瑟家族的支援。
He also flourished with backing from the billionaire Mercer family.
翻譯成中文。
這個家族依靠領頭人羅伯特·默瑟(Robert Mercer)的高科技天才和旗下的對衝基金發了大財,並出資成立了極右翼的布萊因巴特新聞網(Breinbart News),該網站原先由班農編輯,著力宣傳極端民族主義和白人至上思想,還有一點反猶太主義的意味。
The Mercers, who made their fortune through the high-tech genius of patriarch Robert Mercer and a hedge fund he led, fund Breitbart News, a far-right website formerly edited by Bannon that promotes ultra-nationalism and white supremacy, with a whiff of anti-Semitism.
翻譯成中文。
班農會用一套花哨而充斥著新穎思想家名字的原則來粉飾自己表面上激進的觀點,例如在貿易和移民方面,班農後天打造的哲學就和特朗普的政治機會主義相一致(特朗普從前更為自由主義,往往得到民主黨支援的自我則是另一回事)。
Bannon’s ostensibly radical views were dressed up in a fancy set of principles embroidered with name-drops of far-out thinkers. In trade and immigration, for example, Bannon’s acquired philosophy aligned with Trump’s political opportunism (Trump’s more liberal, often Democrat-backing former self is another story).
翻譯成中文。
像某些人那樣將班農視為皮格馬利翁(Pygmalion),將特朗普視為他親手打造的加拉蒂亞(Galatea),或者是特朗普白宮裡的格利高裡·拉斯普廷(Grigori Rasputin)都是錯誤的。
It was a mistake to see Bannon as Pygmalion to Trump’s Galatea, or, as some did, as the Trump White House’s Rasputin.
翻譯成中文。
班農強化了特朗普的民族主義傾向,導致後者推翻了其女伊萬卡和經濟顧問的建議撤出了巴黎氣候協議。
Bannon reinforced the nationalist inclination that led Trump to overrule his daughter Ivanka and his economic advisers by withdrawing from the Paris climate agreement.
翻譯成中文。
And Bannon intruded on foreign policy by getting himself put on the National Security Council for a while, until two of the generals in Trump’s administration – National Security Adviser H. R. McMaster and John Kelly (now the chief of staff) – got him removed.
班農通過將自己安插在國家安全委員會一段時間以插手外交政策,直到特朗普當局的兩名將軍——即國家安全顧問H·R·麥克馬斯特(H. R.
翻譯成英文。
(Bannon was believed to be behind the recent push to force out McMaster, mainly by suggesting that he is “anti-Israel.”)
McMaster)和約翰·凱利(John Kelly,現任幕僚長)將他解職。 (據信班農在幕後推動了近期迫使麥克馬斯特下臺的動作,主要是聲稱他“反以色列”)
翻譯成英文。
But Bannon’s role as genius-without-portfolio – in which Trump indulged him, until Kelly arrived and clarified chains of command – was his undoing.
但班農所扮演的不管事天才角色——特朗普對他如此著迷,直到凱利上任並理清了指揮鏈條才告終——也是他失敗的原因。
翻譯成英文。
在缺乏任何明確責任的情況下,他肆意進入他所希望的領域——最終結下了很多仇敵。
Without any defined responsibilities, he intruded where he wished – and ended up with a lot of enemies.
翻譯成中文。
儘管他可以很方便地將某人——比如前幕僚長瑞因斯·普利巴斯(Reince Priebus)——從對手轉化為朋友,但他卻花了大量的時間在內鬥上,向記者爆料自己的白宮對手。
He had plenty of time to fight internal battles by feeding reporters stories about his White House rivals, though he would switch someone (for example, former Chief of Staff Reince Priebus) from rival to friend, as convenient.
翻譯成中文。
Bannon was a troublemaker as much as a policymaker – and the two roles didn’t mesh.
班農既是個麻煩製造者又是個政策決策者——這兩個角色根本不相匹配。
翻譯成英文。
特朗普也開始把班農看成是一個“告密者”。
Trump also began to see Bannon as a “leaker.”
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而特朗普的白宮已經太多漏洞了,許多在那裡工作的人都會告訴記者他們對於為特朗普工作的心情很複雜,但是相信最勇敢的事情莫過於留下來保護國家不受這位總統的荼毒。
And Trump’s White House is all too leaky: many who work there let reporters know that they have, at best, mixed feelings about working for Trump, but believe the better part of valor is to stay and protect the country from his leadership.
翻譯成中文。
Bannon’s braggadocio took him to the most dangerous terrain on which to confront Trump: the president’s obsession with his election victory.
班農的自負也把他帶到了與特朗普對抗的最危險地帶:總統對選舉勝利的痴迷。
翻譯成英文。
The ambiguity of winning the Electoral College vote (not, as he has falsely claimed, by the greatest margin since Reagan) but losing the popular vote by nearly three million votes, dogs Trump.
贏得了選舉團投票(不是像他錯誤地宣稱那樣自里根以來最大的優勢)卻落後了近300萬個人選票的糾結始終困擾著特朗普。
翻譯成英文。
That’s why he invented millions of “illegal” voters and had maps printed showing the states he won in red – covering most of the territory of the United States – even suggesting to at least one reporter that his newspaper run the map on the paper’s front page.
這就是為什麼他發明了數以百萬計的“非法”選民並在地圖上用紅色來標識所贏得的州——覆蓋了美國的大部分領土 ——甚至建議至少一名記者在其所屬報紙的頭版上展示該地圖。
翻譯成英文。
Suggestions by Bannon that he played a major role in Trump’s election victory were poisonous to the relationship between the two men.
而班農所謂在特朗普勝選中發揮了重要作用的說法損害了兩人的關係。
翻譯成英文。
And so this White House misfit finally had to go.
因此這對白宮冤家終於也無以為繼了。
翻譯成英文。
Now that Bannon is gone, however, he will hurl missives from his new-old perch at Breitbart, to which he returned the same day as his announced departure.
如今班農已不在,但他會在布萊因巴特新聞網的老窩裡繼續大放厥詞——他在宣佈離職的同一天就回歸了那裡。
翻譯成英文。
And Trump will still be Trump.
但是特朗普,還將是那個特朗普。
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The Truth About Sovereignty
關於主權的真相
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CAMBRIDGE – In the French parliament’s recent debate on Europe’s new fiscal treaty, the country’s Socialist government vehemently denied that ratification of the treaty would undermine French sovereignty.
美國劍橋—最近,法國議會對歐洲新財政條約進行了討論,社會黨政府義正辭嚴地否認批准這一條約有損於法國的主權。
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It places “not one constraint on the level of public spending,” Jean-Marc Ayrault, the prime minister, asserted.
它“並沒有在公共支出方面形成約束,”總理埃羅聲稱,“預算主權仍在法蘭西共和國議會手中。
翻譯成英文。
“Budget sovereignty remains in the parliament of the French Republic.”
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As Ayrault was trying to reassure his skeptical colleagues, including many members of his own party, European Commissioner for Competition Joaquin Almunia was delivering a similar message to his fellow social democrats in Brussels.
在埃羅試圖讓其懷疑派同事——包括許多社會黨同志——放心的同時,負責競爭事務的歐洲委員阿爾穆尼亞(Joaquin Almunia)也在布魯塞爾向其社會民主黨同志傳遞相同的資訊。
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To succeed, he argued, Europe must prove wrong those who believe there is a conflict between globalization and sovereignty.
他指出,要想成功,歐洲就必須證明,那些認為全球化和主權之間存在衝突的人是錯的。
翻譯成英文。
Nobody likes to give up national sovereignty, least of all, it seems, politicians on the left.
沒人願意放棄國家主權,左翼政客尤其如此。
翻譯成英文。
但是,否認歐元區之生存嚴重依賴於對主權的約束這一事實表明,歐洲領導人正在誤導選民,民主政治的歐洲化程序將因此延遲,最終醒悟的政治和經濟成本也會因此提高。
Yet, by denying the obvious fact that the eurozone’s viability depends on substantial restraints on sovereignty, Europe’s leaders are misleading their voters, delaying the Europeanization of democratic politics, and raising the political and economic costs of the ultimate reckoning.
翻譯成中文。
The eurozone aspires to full economic integration, which entails the elimination of transaction costs that impede cross-border commerce and finance.
歐元區最求的是完全的經濟一體化,包括消除阻礙跨國商業和金融的交易成本。
翻譯成英文。
Obviously, it requires that governments renounce direct restrictions on trade and capital flows.
顯然,這要求各國政府拋棄對貿易和資本流的直接限制。
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But it also requires that they harmonize their domestic rules and regulations – such as product-safety standards and bank regulations – with those of other member states in order to ensure they do not act as indirect trade barriers.
但這同樣要求各國政府協調各自的國內法規和監管——如產品安全標準和銀行監管——已確保這些因素不會構成間接貿易壁壘。
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And governments must forswear changes in these policies, lest the uncertainty itself act as a transaction cost.
各國政府還不能對這方面的政策朝令夕改,因為不確定性本身會就會形成交易成本。
翻譯成英文。
This was all implicit in the European Union’s single-market initiative.
這些都是歐盟單一市場方案的應有之義。
翻譯成英文。
The eurozone went one step further, aiming through monetary unification to eradicate fully the transaction costs associated with national currencies and exchange-rate risk.
歐元區則更進一步,旨在形成完全的貨幣聯盟,徹底消除與國家貨幣和匯率風險有關的交易成本。
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簡單說,歐洲一體化工程的瓶頸就在於國家主權的限制。
Simply put, the European integration project has hinged on restrictions on national sovereignty.
翻譯成中文。
如今,其前景之所以可疑,是因為主權再一次擋在了前進的道路上。
If its future is now in doubt, it is because sovereignty stands in the way once again.
翻譯成中文。