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The downshift in the emerging markets is leaving Germany vulnerable — and, by extension, Europe.

新兴市场增长放缓让德国乃至整个欧洲都变得很脆弱。

As many businesses in the region struggled just to tread water in recent years, German companies prospered by selling the ods and technology that emerging countries needed to become more modern economies. Now, Germany, which accounts for the largest share of the European economy, is looking like the laggard.

    词汇突破：1. tread water （短语）踩水（求生存的意思）；蹑足不前，徘徊观望；

                Tread on one’s heels 紧随某人之后，步人后尘；

                Walk on the water 无所不能；

              2. prosper (动词)变得繁荣

              3. emerging countries 新兴国家

              4. downshift 放缓 

              5. leave 使 （常常和vulnerable 连在一起使用。）

              6. account for 占比

              7. laggard 落后，拖后腿；

    The downshift in the emerging markets is leaving Germany vulnerable — and, by extension, Europe.

新兴市场增长放缓让德国乃至整个欧洲都变得很脆弱。

As many businesses in the region struggled just to tread water in recent years, German companies prospered by selling the ods and technology that emerging countries needed to become more modern economies. 

主干识别：German companies prospered 

切分成分：1. As many businesses in the region struggled just to tread water in   recent years,

                      状语从句

                   2.  by selling the ods and technology 状语

                  3.  that emerging countries needed to become more modern 

                     economies. 

                     定语从句

 独立成句：1. As many businesses in the region（这里的region就是欧洲） struggled just to tread water in recent years

                 近年间，欧洲的很多企业都在苦苦挣扎也只能求得生存（或者翻译为：只能蹑足不前），

                 2. German companies sell the ods and technology

                   德国企业出售商品和技术。

                3. Emerging countries needed the ods and technology to become  more modern economies

                 新兴国家需要这些商品和技术来变成更现代化的经济体。

 （这样独立成句就不会出错了！尤其是第三句！！！很多同学理解错了！别怕麻烦，你在考场上就是这样死的，别装作很懂的样子。）

参考译文：近年间，欧洲的很多企业都在挣扎却只能求的生存，德国企业却通过出售新兴国家发展成为更现代化的经济体所必须的产品和技术而兴旺发达。（翻译可以把几句话糅合在一起，我们现在不说翻译的事，先说独立成句！保证理解正确！）

Now, Germany, which accounts for the largest share of the European economy, is looking like the laggard.

主干识别：Germany is looking like the laggard.

切分成分：which accounts for the largest share of the European economy 定语从句

独立成句：Germany accounts for the largest share of the European economy 

参考译文：如今，德国作为欧洲最大的经济体，似乎正在成为拖后腿的那一方。       

今天的句子是真题中的三个句子，这三个句子就是一段话了，来吧，看你的！

Rich economies are also less dependent on oil than they were, and so less sensitive to swings in the oil price. Energy conservation, a shift to other fuels and a decline in the importance of heavy, energy-intensive industries have reduced oil consumption. On the other hand, oil-importing emerging economies — to which heavy industry has shifted — have become more energy-intensive, and so could be more seriously squeezed.