Developing countries,in particular,have much to gain from multil

Developing countries,in particular,have much to gain from multilateral cooperation,and much to lose from its absence,and they would suffer disproportionately if instability were induced and a disorderly unwinding of global financial imbalances ensued.The world economy is moving toward a multipolar international monetary system in which the monetary and financial policies of the United States,Euro Area,Japan,and several key emerging market economics,including China,all exert substantial influence.Policymakers in emerging market economies should therefore strive to strengthen institutions and promote policies and mechanisms that will improve their ability to navigate in a world of increasingly integrated and interdependent financial and production systems.
【正确答案】：

尤其对于发展中国家来说，开展多边合作，它们可以从中获益良多；反之，则受损多多。如果经济不稳定，全球金融失衡出现无序发展，这些国家就会遭到更巨大的重创。世界经济正在走向一个多极化的国际货币体系，其中美国、欧元区、日本以及包括中国在内的几个重要新兴市场经济体的货币和金融政策，都在发挥着重大影响。因此，新兴市场经济体的政策制定者应该努力强化制度，推动有利的政策机制，在世界金融和生产体系一体化程度和相互依存度越来越高的情况下，提高自身的参与能力。

【解析】原文共三句话，但每句话都是主从复合的复杂句，因此要先分析清楚句子结构和逻辑关系才能翻译准确。第一句第一个分句中，译文将multilateral cooperation提前，变状语为前置的宾语，变主语developing countries为状语“对于发展中国家来说”。

第二个分句，they would suffer disproportionately 是事情的结果，汉语习惯先因后果，因此将其后置，先说“经济不稳定，全球金融失衡”等。

第二句话中，in which引导的从句在句中作定语，in which可对应汉语的“其中”；including China是key emerging markets的后置定语，汉译时前；而of the United States..…又是monetary and financial policies的定语，故整体前置。

第三句话中，that引导的定语从句修饰policies and mechanisms,汉译时将定语改为动词短语作谓语译为“提高自身的参与能力”，in a world of increasingly integrated and interdependent..…在原句中作状语，汉译时前置。