Economic growth in the three months through December plunged to 6.8 percent compared with a year earlier, down from 9 percent the previous quarte

China's economy slowed sharply in 4th quarter 中国经济在第4季度急剧下滑

the commissioner of the National Bureau of Statistics, 国家统计局局长

he international financial crisis is deepening and spreading, with continuing negative impact on the domestic economy

ensure "a harmonious and stable society." 确保社会和谐稳定

that exports plunged 35 percent in December from a year ago, the steepest drop on record. 12月份的出口额同1年前相比下降了35%，是有记录以来的最大跌幅

to shield China from the global slowdown by boosting domestic consumption

boost domestic consumption 增加国内消费/扩大内需

shield sth.(someone) from 挡住使不受…的伤害；使免遭(不幸之事)

but its effects are not expected to be felt for several months

slash interest rates 削减利率

announce big stimulus plans 宣布刺激计划

domestic market国内市场

sales are down 50 percent from the same time last year  销售额同去年同期相比下降50%

in the export-driven southeast

from eastern coastal regions to China's heartland 由东南沿海地区向内地

Spooked by scattered labor protests, communist leaders worry about rising tensions and possible unrest as laid-off workers stream back to their hometowns.

担心各地劳动抗议的同时， 共产党领导人对可能由失业农民工反返乡潮引起的日益扩大的紧张状态和可能出现的骚乱表示担忧

The weak fourth quarter dragged down China's 2008 annual growth to a seven-year low of 9 percent, breaking a five-year streak of double-digit expansion.

第四季度经济的衰弱 将中国拖到 7年以来年度经济增长的最低水平——9%，连续5年以来每年增长2位百分数的记录被打破

pass Germany to become the world's third-largest economy after the United States and Japan 超过德国，成为继美国和日本之后的世界第三大经济强国

o reorient economic growth from trade to consumption 经济增长由外贸出口转为国内消费

A turnaround will depend on government spending 经济周转有赖于政府投资（出资）

Airlines face large losses due to falling travel and the cost of wrong-way bets on fuel prices.航空公司正面临由于旅游下滑和错误估计燃油价格所带来的巨大损失

o create a social safety net  建立社会保障网络

health care 医保

The government stimulus calls for higher spending on construction and other projects but its goal is to persuade private companies and Chinese consumers to spend more. Analysts say that will be tough to achieve while families still feel compelled to save up to 50 percent of their incomes to pay for health care, education and other necessities.

state treasury  国库

Associated Press   美联社

foreclosure moratorium  丧失抵押品赎回权 暂缓/延缓

take advantage of falling prices  利用房价下跌

bargain hunter  投机商人,杀价购买股票的投机商

to lessen the severity of the crisis

he Bubble Economy 泡沫经济

pile up  (使)成为一堆; 堆积；相撞

be under way 已经开始并进行着

foreign currency reserves  外币储备金

in good health  身体健康状况良好；状况良好

swing into a deficit  转入财政赤字

a huge burst of government spending  巨大的政府支出

a certain extent  一定程度上

in the face of  面对；在……面前

to clean up the mess  收拾烂摊子

pursue profits  追逐利润

financial institutions  金融机构

to combine market developments and morality  将市场经济发展和精神文明结合起来

toward protectionism  针对保护主义; 贸易保护制度

take into account  重视,考虑

Treasury bond  财政部发售的公债,美国的长期国库券

foreign exchange reserve 外汇储备

is on the last leg of a European tour  在欧洲的最后一段行程

preparing to host a G20 summit  准备主持二十国峰会

We held talks behind closed doors. 我们秘密地举行了会谈

Well, you're the boss. You call the shots.  你说的算，你来定

Of course, she's equal to the task. 

is in big demand and short supply  供不应求

behind-the-scenes  幕后的

not authorized  未经授权

who spoke on condition of anonymity 发表匿名讲话

a time frame  期限

in the range of  在...范围内；在射程内

The road to recovery will not be straight

coast-to-coast 由大西洋岸至太平洋岸的

home loan 住房贷款

monthly payment  月度付款

depending on the severity of the recession  随着经济衰退环境的恶化

on the brink of  濒于，在……边缘

market values  市值

Complicating matters, 

"All of us are paying a price for this home mortgage crisis, and all of us will pay an even steeper price if we allow this crisis to continue to deepen,"  ？？？

Foreign policy  外交政策

get short shrift  受到怠慢,受到冷遇

take pains  尽力,耐心

play out   进行到底  演完, 做完  疲倦; 用完

Our economy suffers even more, and credit dries up further.

rule out  宣布…不可能; 排除…的可能性   用直线划掉

stop short  突然停止

case-by-case  一事一议  针对一件事解决一件事（根据具体情况不同解决问题）