[C] act on their own in ruli-setting

　　[D]take gradual measures in reform

　　39、The author thinks the banks were“on the wrong planet”in that they

　　[A]mis interpreted market price indicators

　　[B]exaggerated the real value of their assets

　　[C]neglected the likely existence of bad debts

　　[D]denied booking losses in their sale of assets

　　40、The author’s attitude towards standard-setters is one of

　　[A]satisfaction

　　[B]skepticism

　　[C]objectiveness

　　[D]sympathy

　　Part B

　　Directions:

　　For Questions 41-45,choose the most suitable paragraphs from the first A-G and fill them into the numbered boxes to from a coherent text Paragraph E has been correctly placed. There is one paragraph which dose not fit in with the text. Mark your answers on ANSWER SHEET1.(10 points)

　　[A]The first and more important is the consumer’s growing preference for eating out; the consumption of food and drink in places other than homes has risen from about 32 percent of total consumption in 1995 to 35 percent in 2000 and is expected to approach 38 percent by 2005. This development is boosting wholesale demand from the food service segment by 4 to 5 percent a year Europe compared with growth in retail demand of 1 to 2 percent. Meanwhile as the recession is looming large, people are getting anxious. They tend to keep a tighter hold on their purse and consider eating at home a realistic alternative。

　　[B]Retail sales of food and drink in Europe’s largest markets are at a standstill,lesving European grocery retailers hungry for opportunities to grow.Most leading retailers have alteady tried e-commerce,with limit success,and expansion abroad.But almost all have ignored the big.profitable opportunity in their own backyard the wholesale food and drink trade,whoch appears to be just the kind of market retailers need。

　　[C]Will such variations bring about a change in the overall structure of the food and drinkmarket?Definitely not.The functioning of the market is basrd on flexible

　　Trends dominated by potential buyers.In other words it is up to the buyer tather than the seller to decide what to buy.At any rate this change will ultimately be acclaimed by an ever-growing number of both domestic and international consumers regardless of how long the current consumer pattem will take hold。

　　[D] All in all,this clearly seems to be a market in which big retailers that master the intricacies of wholesaling in Europe may well expect to rake in substantial profits there by.At least,that is how it looks as a whole.Closer inspection reveals import differences among the biggest national markets,especially in their customer segments and wholesale structures,as well as the competitive dynamics of individual food and drink categories.Big retailers must understand these differences before they can identify the segments of European wholesaling in which particular abilities might unseat smaller but enerenched competitors.New skills and unfamiliar business models are needed too。