Directions: In this section there is a passage in English. Translate the following parts into Chinese and write your version on Answer Sheet 2 (15 points)

　　46.

　　Glance at share prices or short-term growth forecasts and you might feel comforted. Output has stopped shrinking in all the world's big economies. In its latest forecasts the IMF reckons global GDP will expand by 3.1% next year, 1.2 percentage points faster than it forecast in April. Global stockmarkets have rallied by 64% since their trough. Corporate finance, once frozen, is thawing fast. Bearish analysts are once again having to justify their pessimism.

　　Yet closer inspection suggests caution. Despite a welcome return to growth, the world economy is far from returning to "normal" activity. Unemployment is still rising and much manufacturing capacity remains idle. Many of the sources of today's growth are temporary and precarious. The rebuilding of inventories will not boost firms' output for long. Across the globe spending is being driven by government largesse. Massive fiscal and monetary stimulus is cushioning the damage to households' and banks' balance-sheets, but the underlying problems remain. In America and other former bubble economies, household debts are worryingly high, and banks need to bolster their capital. That suggests consumer spending will be lower and the cost of capital higher. The world economy may see a few quarters of respectable growth, but it will not bounce back to where it would have been had the crisis never happened.

　　Section IV    Writing

　　Part A

　　47. Directions:

　　Imagine you are a US scholar just returning from Shanghai, China. A few days ago, you took a taxi to Pudong International Airport. You rushed into the Airport Lounge, leaving your luggage in the taxi. The taxi-driver found out later and drove back to the airport to return your luggage to you. Write a letter to the Municipal Transportation Council to show your gratitude to the driver and praise the high quality of taxi service of the city.

　　You should write about 100 words on Answer Sheet 2  (10 points)

　　Part B

　　48.  Directions: In this section, you are asked to write an essay based on the following picture. You should write at least 150 words on the Answer Sheet 2. (15 points)

　　钓鱼执法，英语叫执法圈套（entrapment）

　　"黑车"，illegally-operated cars