But it’s also why we are troubled when American investors are prohibited from having wholly owned, fully owned subsidiaries of their own company in many sectors in China and excluded from sectors, entirely excluded from competing in other sectors; restrictions that no other major economy in the world imposes on us or anyone else so broadly. That's why we have pushed Chinese officials to protect intellectual property rights. We have welcomed the Chinese State Council’s recent campaign to enforce intellectual property rights, a commitment that President Hu made when he visited and he’s keeping. But the effort must be strengthened and extended.
但也正因为如此，一些情况令我们不安：美国的投资者在中国的许多行业中被禁止拥有自己的独资公司和独资分公司；在另一些行业，在其他行业完全被排斥在竞争之外；还有一些世界其他主要经济体不曾强加于我们或其他任何人的、范围如此之广的种种限制。正因为如此，我们积极要求中国官员保护知识产权。我们欢迎中国国务院最近的保护知识产权运动，这是胡锦涛主席访问美国时作出的一项承诺，他在履行这一承诺。但这项努力必须得到加强和延伸。

According to the International Trade Commission, American companies lose $48 billion a year and tens of thousands of jobs because of pirated goods and services. These protections -- intellectual property protections not only benefit the United States and United States workers, United States companies, but I would argue Chinese companies, as well, as they increasingly seek to safeguard their own creations.
根据国际贸易委员会的统计，美国企业因盗版商品和服务每年损失480亿美元和数万个工作岗位。这些保护——知识产权的保护不仅有利于美国和美国工人、美国公司，而且我认为也有利于中国的公司企业，因为他们会越来越力争保护自己的创新成果。

You’re here at this great university. It’s very much in your interest that intellectual property be protected because some of you are the future artists, the future entertainers, the future innovators who will want to be able to have a market for what you do. But if it can be acquired cheaply and pirated, why would anybody pay you for the same service?
你们在这所优异的大学求学。保护知识产权十分符合你们的利益，因为你们中的一些人将成为未来的艺术家、未来的娱乐界人员、未来的发明家，将希望自己的劳动成果有市场。但如果那一切可以廉价地获取和剽窃，凭什么还会有人向你们购买同样的服务呢？

America’s focus on global security, free trade and economic fairness is longstanding. Since the end of World War II, we’ve helped build an international system that promotes peace and stability, gives all states the opportunity to share in global prosperity and provides rules to protect the basic human rights of all citizens.
美国对全球安全，自由贸易和经济上公平的关注是长期的。自第二次世界大战结束以来，我们帮助建立了一个国际体系，它促进和平与稳定，使所有国家有机会分享全球繁荣，并制定保护所有公民基本人权的规则。

China’s tremendous progress in my view can be attributed to the industriousness and talent of the Chinese people, as well as its leadership. But it was made possible, I respectfully suggest, by an international architecture that promoted stability and prosperity and enables upward mobility for all countries. I know that many Chinese and probably many of you students believe that your nation will continue on a path of greater prosperity. I agree that it will. That is my view, my prediction. But I also know that some of you are skeptical about America’s future prospects.
在我看来，中国的巨大进步可归功于中国人民的勤劳与智慧及其领导人的能力。但我谨要指出，一个促进稳定与繁荣、使所有国家能够发展提高的国际架构使这个成就成为可能。我知道，许多中国人、你们学生中可能有许多人相信，你们的国家将继续走向更加繁荣。我同样认为是这样。这是我的看法、我的预测。但我同时知道，你们当中有些人对美国未来的前景持怀疑态度。

With that in view, I would like to suggest that I respectfully disagree with that view and will allay your concerns. Let me put this in perspective so you can understand why the American people are also confident about their future. America today is by far the world’s largest economy with a GDP of almost $15 trillion, about two and a half times as large as China’s, the second largest; with a per-capita GDP which is more than $47,000 -- 11 times that of China’s. I’ve read that some Chinese are concerned about the safety of your investments in American assets. Please understand, no one cares more about this than we do since Americans own 87 percent of all our financial assets and 69 percent of all our treasury bonds, while China owns 1 percent of our financial assets and 8 percent of our treasury bills respectively.
因此，我希望指出，我尊重但不同意这种见解，让我解释一下为什么你们不必忧虑。我将提供一些背景信息，以便你们了解为什么美国人民也对自己的未来抱有信心。今天，美国是世界上最大的经济体，远远超过任何其他国家，国内生产总值（GDP）近15万亿美元，大约相当于排在第二位的中国的两倍半；人均国内生产总值4.7万多美元，是中国的11倍。我了解到有些中国人担心投资美国资产的安全。请理解，没有谁比我们更关心这种状况，因为美国人持有我们全部金融资产的87%以及我们全部国债的69%，而中国持有我们的金融资产和国债比例分别为1%和8%。