The agreement this week to move to quarterly contracts based on spot prices marks the end of the annual benchmark system that has lasted 40 years.

本周达成的协议转向以现货价为基础的季度合约，这标志着已持续40年的年度基准合 约体系寿终正寝。

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Indeed, Mr Sakurai goes even further, calling for the end of Japan's seniority-wage system (in which salaries are based on length of service rather than performance).

事实上，Sakurai先生思考的更深远，他甚至呼吁终结日本的年功序列制在这个体制下，员工的工资是与其工龄而不是绩效挂钩。

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Even by the end of the 19th century, however, new technologies began to emerge, many of them based on the same principles first developed for the telegraph system.

虽然到了19世纪末新的科学技术开始崛起，但是许多技术都是基于与最初发明电报同样的原理。

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And then VJ paints a picture of a whole back-end, cloud-based system that supports his vision of the coming role imaging and printing will play.

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The Phillips "theorem" caused no end of mischief after the collapse of the gold-based international monetary system in 1971: Leaders tried to manipulate the value of money to create prosperity but ended up creating less growth and more instability.

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Doing something effective and substantive, such as creating a modernized version of the gold-based Bretton Woods international monetary system--which lasted from the end of the Second World War until the early 1970s and gave us an era of great, noninflationary economic growth--will not even be broached.

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