Of course, every year has its growth challenges, and 2007 will be no exception. What motivates – or frightens – the growth pessimists, in particular, are (1) higher European interest rates, (2) the slowing US economy, and (3) the increase in the German value-added tax (VAT) from 16% to 19% set for the beginning of the year.
当然，每一年要取得增长都会面临很多的挑战，2007年也不例外。而尤其让增长悲观主义者产生这种论调，或者让他们感到恐惧的是（1）欧洲更高的利率，（2）增长放缓的美国经济，以及（3）德国的增值税从明年开始将从16%调高到19%。