超急!!英文翻譯中文(20點)

In contrast to Japan ,it seems to me that the United States has transferred abroad thoseindustries which ranked at the top of her comparative advantage and has thusbrought about balance of payments difficulties, unemployment and the need forprotection of her remaining industries.The typical American foreign direct investment is well characterizedby Raymond Vernon and Stephen Hymer. The concern of Vernon and others was to explain how a newproduct is invented and manufactured on a large scale in leading industrialcountries. Exports of this product grow in so far as a ‘technological gap’exists between the product-developing country and foreign countries. Foreignproducers imitate the new technology and follow suit. Then exports slow downand through direct investment an attempt is made to secure foreign markets.When the technology is standardized and widely disseminated and the limit ofscale economies is reached, trade based on wage costs, or factor proportions,starts and the country turns to import this product from abroad.According to Vernon, ‘the US trade position in manufactured goods isbased heavily on a comparative advantage in the generation of innovations,rather than on the more conventional notion of relatively cheap capital’ and‘the big post-war increase in US overseas investment in manufacturingsubsidiaries has come about mainly in the kind of industry that would beexpected to have participated in such a process : industries associated withinnovation and with oligopoly, It explains why so much of the investment isfound in the chemical industries, the machinery industries, the transportationindustries, and the scientific instrument industries’. They are ‘highly innovativeand strongly oligopolistic’, and ‘multinational enterprises are foundprincipally in industries that devote a relatively high proportion of theirresources to research and advertising and that tend to be dominated by verylarge firms’.