The analysis began with the macro-environment and the tobacco business environment, and then went on the aspects of micro-environment and the SWOT.

首先从宏观环境分析、行业环境分析入手，进而深入到颐中烟草集团的微观环境研究分析和SWOT分析。

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Firstly, let us analysis the macro environment of Southwest Knitting.

首先，我们来分析一下，西南织造所处的宏观环境。

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Changes in the macro environment will indirectly affect the business but will nonetheless affect it.

变化的宏观环境将间接影响业务，但它仍将影响。

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However, on the revenue side, the macro-environment continues to be challenging for our businesses.

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As optimism in the macro-environment slowly returns, we expect enterprises to loosen their purse strings more and invest heavily in their network infrastructure.

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John Burbank, founder of Passport Capital LLC, a San Francisco-based macro-hedge-fund manager, thinks the macro-driven environment will persist for some time.

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