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1、外文翻译AperfectmarketMaterialSource:Economistprintedition,2004(3)Author:JamesWilsonE-commerceiscomingofage,saysPaulMarkillie,butnotinthewaypredictedinthebubbleyearsWhenthetechnologybubbleburstin2000,thecrazyvaluationsforonlinecompaniesvanishedwithit,andmanybu
2、sinessesfolded.Thesurvivorspluggedonasbesttheycould,encouragedbythegrowingnumberofinternetusers.Nowvaluationsarerisingagainandsomeofthedotcomsaremakingrealprofits,butthebusinessworldhasbecomemuchmorecautiousabouttheinternet’spotential.Thefunnythingisthatth
3、ewildpredictionsmadeattheheightoftheboom—namely,thatvastchunksoftheworldeconomywouldmoveintocyberspace—are,inonewayoranother,comingtrue.Therawnumberstellonlypartofthestory.AccordingtoAmerica’sDepartmentofCommerce,onlineretailsalesintheworld’sbiggestmarketl
4、astyearroseby26%,to$55billion.Thatsoundsalotofmoney,butitamountstoonly1.6%oftotalretailsales.Thevastmajorityofpeoplestillbuymostthingsinthegoodold“bricks-and-mortar”world.Butthecommercedepartment’sfiguresdealwithonlypartoftheretailindustry.Forinstance,they
5、excludeonlinetravelservices,oneofthemostsuccessfulandfastest-growingsectorsofe-commerce.InterActiveCorp(IAC),theownerofexpedia.comandhotels.com,alonesold$10billion-worthoftravellastyear—andithasplentyofcompetition,notleastfromairlines,hotelsandcar-rentalco
6、mpanies,allofwhichincreasinglysellonline.Nordothefigurestakeinthingslikefinancialservices,ticket-salesagencies,pornography(a$2billionbusinessinAmericalastyear,accordingtoAdultVideoNews,atrademagazine),onlinedatingandahostofotheractivities,fromtracingancest
7、orstogambling(worthperhaps$6billionworldwide).Theyalsoleaveoutpurchasesingreymarkets,suchastheonlinepharmaciesthatarethoughttoberesponsibleforagoodproportionofthe$700mthatAmericansspentlastyearonbuyingcut-priceprescriptiondrugsfromacrosstheborderinCanada.A
8、ndthereismore.Thecommercedepartment’sfiguresincludethefeesearnedbyinternetauctionsites,butnotthevalueofgoodsthataresold:anastonishing$24billion-worthoftradewasdonelastyearoneBay,thebiggestonlineauctioneer.Nor
