Translation Difficulties In Economic Texts

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Introduction

Nowadays, giving the globalization context and the relationships between nations that have become practically “borderless”, understanding and speaking a foreign language is essential. Ever since English has been globally accepted as lingua franca, this language is used in all industries. Its use has the primary purpose to ease the communication between individuals of different nationalities and to provide better education. Also, the use of English in non-native countries allows individuals to stay informed, to adapt and to evolve. One of these areas is the economic field, where a specific vocabulary is required and technical terms are being used. English’s popularity has led to word borrowing, so that nations with different native languages use English words in their translations and even in speaking.

Apart from simply understanding English, most industries need capable translators that can ensure an efficient transfer of information into the local language. Translation, an activity that is part science, part art, has its peculiarities in all fields of activity, which is why specialized knowledge is required. In Romania, understanding, speaking and being able to translate from English to Romanian and the other way around is essential, especially in the economic field. Economics, legislation, new procedures, global information etc., are constantly updated and the most relevant information originates in world-leading countries which happen to be English-speaking countries. However, in this thesis, casual translation is not the main focus point.

This thesis focuses on the translation difficulties that can be encountered in economic texts. Throughout the paper, when discussing about the SL, I will refer to English. When discussing about the TL, I will refer to the Romanian language. The reason behind this choice is that foreign data that is presented in English, such as research, reports, statistics, European and global legislation is easily accessible. When translated correctly, professionals gain a better understanding of the activities they are performing, of expected changes and of the entire economics field. Information is power and this applies in this continuously developing sphere more than ever. Professional translation is the main activity that facilitates this transfer of knowledge. As fascinating as it can be, a large number of difficulties can be encountered in a translator’s job, when working with economic texts. Word borrowings and Anglicisms are the two main challenges that translators face, but contextual challenges arise often, too.

The main motivation behind the choice of this topic for my thesis is the increase of translation difficulties in economic texts and the possibility of mapping and solving them. As they arise in each translator’s job, they can be classified and patterns can be designed, so that future professionals can appeal to specific references in order to deliver well-translated materials.

The objective of this paper is to raise awareness and prove that translation in the economic field must be done by specialized individuals with knowledge of economics who are constantly updated in regards to the vocabulary and specific terms in use. A secondary hypothesis is that any economic text must be regarded as complex and country-specific and requires extended knowledge to be translated correctly. I aim to show whether this hypothesis can be confirmed or disproved and highlight the results in the final chapter, Conclusions.

The thesis is comprised of two parts: a theoretical part and a practical one. I structured it into three chapters that allowed me to emphasize the most common theories promoted by academics and specialty authors, as well as to enumerate my personal observations and to describe my research. Therefore, in the first chapter, I discussed about theoretical approaches to translation, with emphasis on definitions, characteristics and historical aspects. Also, in this chapter I found it important to remind of the way the process of translation should take place. The second chapter, entitled The translation of economic texts, contains relevant data about the expansion of the English language and the connection between translation and the economic language. Moreover, in this chapter I highlighted the ways in which English economic terms have entered the Romanian language, both casual and professional. The theoretical part includes an analysis of theories belonging to authors such as David Crystal The third chapter, Practical aspects in translating economic terms, includes observations based on the analysis of two English magazines, Tse Mag and E-Finance. The last chapter, Conclusions, resumes the aspects that were discussed throughout the thesis and shows whether the hypothesis has been confirmed or disproved.

Theoretical approaches to translation

Defining the concept of translation. Characteristics and historical aspects

As reported by Newmark the methods that achieve the two main aims of translation (accuracy and economy) are the semantic translation and the communicative translation. He claims that the difference between the two methods are that semantic translation focuses on the thought processes of the author and the translator tends to over-translate while the communicative translation method focuses on the message, is characterized by naturalness, it is brief and simple and has a tendency for under-translating.

In regard to translation procedures Newmark names the following procedures:

Transference: also known as transcription or loan word, it describes the process of transferring a SL word into the TT. This procedure involves transliteration.

Naturalisation: ‘This procedure succeeds transference and adapts the SL word first to the normal pronunciation, then to the normal morphology (word-forms) of the TL’ (Newmark 1988: 82)

Cultural equivalent: this procedure is based on the replacement of an SL word with a TL word. According to Newmark this is an approximate translation and the accuracy is not fully accomplished.

Functional equivalent: this is a procedure that is used to tackle cultural words. The cultural word from the ST is neutralized or generalized in the TT.

Descriptive equivalent: refers to the act of explaining the meaning of the SL unit in several words in the TL text. The importance of description and function is elementary in the process of translation.

Synonymy: this procedure involves the translation of a SL word through a TL near-equivalent. Synonymy is essential in order to be a good translator but with the condition to not overuse this procedure.

Through-translation: is a procedure which is based on to the imitation of structure or even manner of expression present in the ST. This procedure is often used to approach the names of international organisations.

Shifts or transpositions: this procedure implies a grammatical change of the SL word in the TL text. This may be a change from singular to plural, in the position of the adjective (changes that offers no choice to the translator), a gramatical structure from the SL that does not exist in the TL and so forth Newmark 1988: 55)

Modulation: means to use a structure in the TL that is different from the one used in the SL in order to convey the same idea. This procedure relies on changing the point of view, the perspective.

Recognised translation: is a procedure where, according to Newmark, ‘You should normally use the official or the generally accepted translation of any institutional term’ (Newmark 1988: 89)

Translation label: this procedure usually involves an institutional term and it has a provisional nature.

Compensation: it is used in order to overcome the loss of meaning from one part of the text trough compensation in another part.

Componential analysis: this procedure occurs when the translator decomposes a lexical unit into its sense-components.

Reduction and expansion: these procedures refer to a change in lexical and stylistic aspects. Reduction means that the translator uses fewer words in the TT than the number of words used in the ST. Expansion occurs when the translator translates exceeding the number of words used in the ST.

Paraphrase: when using this procedure the translator explains more detailed the meaning of a segment of text.

Couplets: (also triplets, quadruplets) refer to mixing two, three or four procedures in order to reach an appropriate translation.

Notes, additions glosses: according to Newmark, notes are ‘additional information in a translation’ (Newmark, 1988: 91).

It is essential for a good translation to have the same (or at least to be as close as possible in achieving that) impact on the TT readership as it has the original text on the ST readership. Therefore, the translation methods and procedures are extremely important in the process of translation because these are the main tools that help the translator to achieve a desirable translation.

II. The translation of economic language

Any action that involves the production, distribution and consumption of goods and services is considered to be an economic activity, according to the Business Dictionary. The impact of any economic activity in the modern individual’s life is enormous and, therefore, using accurate, efficient economic language is crucial. This has an impact on an individual’s or a business entity’s understanding, processing and delivery of facts and information. As it is in every human’s nature to borrow information from other nations, accurate translations of economic texts ensure the correct transfer of knowledge and information.

This chapter focuses on highlighting the importance of correct translation of economic texts and the methods that can be used to achieve this. Economy and language are interconnected, as linguistics play an important role in the economic development, while translations of English economic texts offer individuals who speak different languages a full understanding of the facts. At the same time, in this chapter I will provide a background for the third chapter, in which I will emphasize the potential difficulties of professionals or academics when translating economic texts.

The connection between translation and the economic language

The economic field is extremely complex and is subject to continuous change. Economic texts have been created and translated into various languages ever since the first economic thoughts were shaped by different thinkers and their theories, before 500 AD (Austin & Vidal-Naquet, 1980:162). From the ancient world to the present day, the economic field was considered to be a separate discipline, as well as a different part of the philosophical thinking. History has taught intellectuals that the wellbeing of societies is directly linked to economic growth, this being the main reason why translating economic texts in an accurate way is so important.

Translating economic texts automatically leads to word loan in all languages, as well as to language innovation. Another effect of word loan is the creation and use of neologisms. According to Newmark (1993), translation is a force and an instrument of democracy, offering societies a whole range of human knowledge. The author also states that the number of languages that are translated nowadays increases continuously, especially due to political contexts in which more and more countries gain their independency (Newmark, 1993:16). More importantly, Newmark (1993:7) highlights the fact that the political, social and cultural factors also led to the rationalization that the world’s languages must be categorized into official languages and working languages. International bodies such as UNO have, therefore, decided to name English and French as their official languages. Spanish, Russian and Chinese were also categorized as working languages, as they have the largest ranges.

When doing an inventory of words in every language, it becomes clear that all nations borrow specialty words from each other. The English vocabulary is comprised of words that are borrowed from other languages and vice-versa. The author Magdalena Bielenia-Grajewska discusses the importance of studying the loanwords in the economic texts, explaining that borrowed lexical items determine the language of economics and the future situation in business communication (Grajewska, 2009:3).

Translation studies ensure the existence of a means of communication between nations at all levels, creating a crucial bridge between translation and the economic sphere. The result is an economic language that is recognized internationally. Newmark (1993) reminds us of the fact that translating was hardly recognized as a profession between World War II. It was only after the war that international organisations such as the Federation of Translators (FIT) were formed in the 1950s. This organisation in particular has UNESCO’s support in 1953. This had a major impact and influenced other international organisations, multinational companies and large companies to hire translators (Newmark, 1993:19).

As Grajewska (2009:3) emphasizes, globalization is one of the most important characteristics that shape the economic discourse. According to the author, a large number of loanwords can be detected in the language of economics due to linguistic innovation that is set by the contact between cultures and by the inner communication in a specific community. The loanword process depends on four main factors (Grajewska, 2009:7):

The development of the recipient language

The national consciousness of its speakers

The international preferences

The philological knowledge and language comprehension difficulties

Citing Platt (1984:88-89), Grajewska (2009) also enforces the idea that load words can be classified into three major categories: occasionally used, stabilizing loan words that are used frequently by specific speakers and stabilized loan words that are used by most speakers. The author gives a few relevant examples referring to the shaping of Latvian, French or German business and economic vocabulary (2009:12). In this context, it is easily observable that the English language has a dominant position that promotes globalization.

The economic language can sometimes be difficult to understand; process and digest, especially for individuals outside this sphere, but also for professionals who attempt to understand and translate foreign texts. When translating economic texts, the translator is often a mediator between two cultures and must take into consideration several factors, except for the accurate translation of words. Periklis Tagkas (2014: 279-287) reminds us of the fact that new terms are constantly brought into the English language and therefore, into other languages as well, especially in the economic field of activity. The author states that the reason behind this phenomenon is represented by the economic and financial developments on the American continent. According to Tagkas (2014), the actions and events across the Atlantic influence every market in the world, which is why English represents the main language of reference. The author also highlights the fact that, in order for translators to be able to write, rewrite, translate and edit economic texts, a close collaboration between them and economic professionals is crucial. According to Tagkas, no translation technique can be a substitute for factual knowledge and there can be no translation without understanding of the meaning.

The translation of economic texts can be challenging and requires attention to details, as well as the ability to detect potential translation errors. Defective translation can have a large number of implications (Olteanu, 2012:18), which is why the translation work becomes more and more diverse and complex.

Concluding that a defective translation can have a major impact on the economic communication is essential. As several authors have shown, the main objective of translation is the transfer of knowledge from one nation to another, by decoding the source language. Therefore, detecting and avoiding translation errors is highly important. An inadequate translation can lead to misinformation and distortion of information, as well to economic and financial impact, poor understanding of the legislation or poor decision making.

As shown in the above paragraphs, there is a clear connection between the translation activity and the economic language. The two are interconnected and interdependent, as an accurate translation of information and data determines the economic growth and one nation’s economy.

English as a global language

To have a better understanding of the connection between economic language and translation, it is important to analyse the origin of languages and observe their influences. Moreover, it is essential to understand why the English language has become a point of reference at a global level for all of the world’s countries, especially in the economic and business spheres. This helps us determine the seriousness and usefulness of accurate translations from the SL to the TL.

Once a translator has a full overview of this matter, the impact of accurate translations from English to another language, including Romanian, becomes clear for such professionals. In the field of economics, the translations should be performed impeccably, taking into consideration the existence of neologisms, Anglicisms and borrowed words. As a translator starts understanding these basic aspects, the challenges and difficulties that are encountered in the process of translation are faced with objectivity. Therefore, finding solutions to linguistic challenges becomes easier and more efficient.

Currently, English is the official international language, being spoken by more than 1.5 billion people, out of which 375 million are native speakers. Chinese, Hindi and Spanish come next, yet it is easily understandable why the English language is worldwide spoken. However, it is important to emphasize some of the most important reasons behind the decision of declaring English a global language, in order to understand the impact of accurate translations of economic texts into other languages, including Romanian.

A language receives the status of global when it is attributed a specific role, recognized by all of the world’s countries (Crystal, 2003: 3). A global language does not have to be recognised as a country’s official language, compared to the main or second language spoken by its citizens. According to David Crystal (2003:7), a global language has little to do with the number of people who speak it. It has much more to do with who those speakers are. The author gives an example from the ancient world, when Latin was an international language spoken by people in the Roman Empire. Even after the empire’s fall, Latin continued to be recognized as an international language, being used in education, as well as in all of the main business fields of the time.

A global language is a dominant language that has great economic, technological and cultural power. As to the explanation of the dilemma: why should English be a global language, the answer is quite simple in some authors’ vision. The structure of the English language is logical, it doesn’t have a lot of endings on its words and the difference between feminine, masculine and neuter genders is very easy to learn and remember (Crystal, 2003:7). The author cites a reviewer in a British periodical, The Athenaeum, who, in 1848, stated that in its easiness of grammatical construction, in its paucity of inflection, in its almost total disregard of the distinctions of gender excepting those of nature, in the simplicity and precision of its terminations and auxiliary verbs, not less than in the majesty, vigour and copiousness of its expression, our mother-tongue seems well adapted by organization to become the language of the world.

It is interesting to observe how specialty authors contradict this vision, by affirming that the easiness of learning is not connected to the fact that English was declared a global language. Crystal (2003:8) highlights the fact that, indeed, a language should have characteristics that make it internationally appealing, yet this is not the biggest motivation. On the contrary, the reason behind this choice is linked to the formation of English that has its roots in all of the other languages. However, this argument is also insufficient. What becomes truly viable is the fact that a language received the global status because of the political and military power of its people.

To prove this argument, Crystal (2003:10) brings into discussion the power of Great Britain at the end of the last century, when it became the world’s leading industrial country. The argument continues by reminding of the USA’s population that was the largest in the world in the same period of time.

In the Interdisciplinary Journal of Critical Multilingualism, Thomas Ricento (2012) from the University of Calgary discusses about the importance of having a global language and its impact on the political economy, stating that the English language is a vehicle for social and economic mobility. At the same time, the author explains that the global role of the English language is to determine a value and status in countries with aspirations to participate in the knowledge economy. This argument is extended to the subject of job creation. Ricento (2012) affirms that individuals who are proficient in English could provide and advantage for careers and employment in certain sectors of the global economy.

When looking at the global businesses, it becomes clear that a medium to advanced level of English is required for potential workers and the lack of ability to translate from a native language to English, even in the work field, leads to the impossibility of penetrating this business sector. According to the Harvard Business Review (2012), multinational companies are mandating English as the common corporate language (…) in an attempt to facilitate communication and performance across geographically diverse functions and business endeavours.

However, although the need of having a global language that serves all industries has been met, this phenomenon does come with certain challenges. Translation is one of them. This activity has played a crucial role in human interaction for millennia (Crystal, 2003:11). According to specialty literature and history itself, monarchs and ambassadors used to communicate on international stages with the help and participation of translators and interpreters. Crystal highlights an important fact regarding mixed communities and the use of several languages at a time, stating that the more a community is linguistically mixed, the less it can rely on individuals to ensure communication between different groups. He also mentions that this problem has been solved by adopting a lingua franca. Having the English language as a common language, simplified elements are being used (Crystal, 2003:12). However, when it comes to international academic and business communication, the lingua franca must be used correctly, in all its complexity.

In order to understand the importance of the connection between translation and economic language, one must be able to recognize the power of linguistics. In this context, the question that arises is: Will those who speak a global language as a mother tongue automatically be in a position of power compared with those who have to learn it as an official or foreign language? Crystal (2013:16) acknowledges this risk. The author offers a relevant example that applies to scientists: those who do not have English as mother tongue will take longer to assimilate reports in English compared with their mother-tongue colleagues, and will, as a consequence, have less time to carry out their own creative work.

In my opinion, the same applies to economics. As Crystal confirms, the world status of English is the result of the British colonial power and the emergence of the United States as the leading economic power, which is also the factor that explains the position of the English language (Crystal, 2003:59).

Although English is a global language and a language of reference in the business and economic sectors, the translation of economic texts must be looked at with professionalism in all languages. French, Spanish, German, Chinese, Russian are just a few of the dominating languages worldwide. However, as English is the common language for all the world’s speakers, I will treat the subject of English translations of economic texts with priority in this paper.

Romanian integration of English economic terms

Before proceeding to the next chapter that discusses the practical aspects in translating economic texts, I find it essential to bring into discussion the impact of the English language and Anglicisms into the Romanian language. The role of translation is crucial in the economic sphere, as it has mainly an informative purpose, without which global and local information cannot be fully comprehended. Therefore, I believe that analysing the existence of Anglicisms in the Romanian plain and specialized language is essential. Also, such an analysis is meant to emphasize the difficulties and errors that might arise in the process.

As it was stated in the previous paragraphs, globalization is the main reason for the acceptance of the English language into other foreign languages, including Romanian. At the same time, globalization is also responsible for the quick adaptation and integration of English words into the Romanian vocabulary. Romanian authors who have studied the impact of Anglicisms over the general business and economic language used on the Romanian territory confirm this idea. It is, therefore, generally accepted that globalization, as a process that was generated by the capitalist development, has been given a huge importance and focus after the collapse of the Soviet Union (Condruz-Băcescu, 2013: 20).

The author Condruz-Băcescu (2013) states that the idea of globalization in linguistics is a direct result of the economic, situation and that it illustrates the relationship between society and its communication needs. As for the linguistic globalization, she affirms that it must be seen as an intentional acceptance of common means of communication in international economic relations (Condruz-Băcescu, 2013:20). History speaks for itself when it comes to the integration of Anglicisms into the Romanian economic vocabulary. As Condruz-Băcescu emphasizes, the rapid development of information technology and financial banking sector was seen for the first time on the United States territory. Under the pressure of economic development, Romanian speakers were ready and willing to adapt and to accept the modernization of the language, although this first happened by borrowing French words in the nineteenth century. The evidence is clear: 29-38% of contemporary Romanian words are of French origin. These were easily integrated into the Romanian language due to their Latin structure (Condruz-Băcescu, 2013:22).

Once the promotion of the English language started in Romania, its usage became a tool for timing and participation acceleration in the global economy. Both the economic realities and the need for rapid synchronization showed that this language had to be accepted and learned (Condruz-Băcescu, 2013:22). Only 10 years after the collapse of the Communist regime, terms like businessman, barter, broker, dealer, computer, marketing, management, trend and many more are fully integrated and accepted by individuals of all ages.

In this context, an important milestone was the moment in which the globalization started being visible and obvious in Romania. Condruz-Băcescu (2013:25) reminds us of Negroponti’s vision over the matter: After abandoning the centralized communist economic structures, internal organization of firms and Romanian companies synchronize with the most popular structures in the world economy.

Soon after the importance of adapting English words into the Romanian vocabulary was discovered, the economic language was flooded with Anglicisms. According to the Oxford Dictionary, an Anglicism is a word or phrase borrowed from English into a foreign language. The use of Anglicisms in the Romanian language is casual nowadays, but it is mostly encountered in business and economic environments.

According to Chirilă (2014), a large number of English borrowings can be detected in the Romanian language. This phenomenon refers to the mixing of English and Romanian words into a hybrid, linguistic variety. Studies have shown that the major influence of English on Romanian has started in the second half of the nineteenth century, taking a turn in the twentieth century and coinciding with the intensification of economic and cultural contacts, as well as with the country’s industrial and economic development following western European models (Chirilă, 2014:45). In the twenty-first century, borrowing was a result of the new professional fields of activity that were brought to the country. More and more English words were borrowed especially in the business and economic fields, as a necessity of discussing various new topics in English was discovered. The popularity of Anglicisms increased as the press began to use these words in their articles. Financial and economy-specialized newspapers and magazines, such as Capital, used them with regularity while defining certain business or economic concepts.

Some of the most frequent words used in economic texts since the year 2000 were business, company, group or bank. Also, consulting, market, holding are words that were integrated first in economic articles in Romania (Chirilă, 2014:48).

Sextil Pușcariu was the among the first authors to analyse the density and use of economic and business Anglicisms in the Romanian language. He classified the loanwords into necessary and luxury Anglicisms. Necessary Anglicisms are words or phrases that offer linguistic and comprehension advantages that the already existing term in the native language do not offer. Luxury Anglicisms, on the other hand, are useless loans, that offer no advantage over the Romanian terms (Pop & Sim, 2015:377).

Some of Pușcariu’s (1976) examples of necessary Anglicisms in the economic texts are: audit, broker, brokerage, buy-back, cash & carry, clearing, credit, dealer, design, designer, dumping, duty-free, electronic banking, futures, grant, holding, hypermarket, leasing, management, marketing, non-profit, offshore, outlet, rating, retail banking, supermarket, trust, voucher, wireless. A few examples of luxury Anglicisms are: advertising, agreement, board, brand, businessman, businesswoman, chairman, discount, full-time job, marketing manager, part-time job, program officer, sales manager, sales person, salesman, showroom, and staff (Pop & Sim, 2015:379).

While some authors consider that Anglicisms are simple words that are integrated into Romanian phrases, other authors have a different opinion. Mioara Avram (1997) defines Anglicisms as being a linguistic unit, not only a word, but also a phraseological expression, meaning or grammatical construction and even an English origin type of pronunciation and/or writing (Tălmăcian, 2013:47). This is a very important concept from a translation’s perspective, as translation of economic texts from English to Romanian must not be performed word-to-word, using their main and independent meaning, but by considering the SL’s meanings and possibilities of interpretation.

Tălmăcian (2013) accentuates the topic of economic Anglicisms in her paper, by analysing their frequency. In her opinion, the more frequently an Anglicism is being used, the greater are the chances for it to be assimilated in the TL. Also, she concludes that there are economic Anglicisms that have become common terms in the Romanian language, such as boss or job, but at the same time, there are terms that are mostly being used by the economic journalists, such as blue-chip or by economists, such as leverage (Tălmăcian, 2013:53).

The integration of English words into the Romanian economic discourse is a very interesting phenomenon that is worth observing and analysing, yet the accurate translation of economic texts depends on much more than the understanding, use and adaptation of loanwords. Apart from the need to use translation techniques and follow the most important principles, a translator must also take into consideration other important aspects, such as the economic system itself, the terminology and the correct interpretation.

The authors Petrovici & Ciortea (2012) state that the translation of an economic text represents a confrontation of different economic systems, even if they belong to the same economic system. Also, they add that a translation of a specialized text requires an international standardization of specialized languages and that the translator’s task is to observe and detect the morphological, syntactic and lexical rules.

Moreover, translators of economic texts have an even more complex task: that of learning the field of activity in detail, as well as the terminology. Professional translators, who work with economic texts on a regular basis, state that there are major structural differences between different economic systems. Also, they claim that there is a different excerpt of the economic reality and that there is a high probability of encountering untranslatable words. Translating economic terms requires the use of bilingual specialized terminology sources in order to be able to choose the right equivalents and contexts. (Petrovici & Ciortea, 2012: 2).

To conclude, the translation of economic language is a complex task with several implications, as well as a solid preparation of the specialized translator in a specific field of activity. The above mentioned factors can represent challenges for translators if all the requirements are not met by translators in both languages. In the next chapter, I will discuss and analyse economic texts from a practical perspective, in order to highlight the most frequently encountered difficulties that translators face in the translation process.

III. Practical aspects in translating economic texts

In the previous chapter I discussed about the connection between the activity of translation and the understanding of economic texts, from a theoretical perspective. If in Chapter II, I focused on proving that the Romanian economic terms were shaped by the large number of English speakers and the Anglicisms that penetrated the language, in this chapter I will focus on emphasizing difficulties that may arise while translating economic texts from English to Romanian from a practical view.

In my attempt to detect the most important linguistic elements that need to be considered when translating an economic text, I used sample texts from The Toulouse School of Economics Magazine (TSE Mag) from 2015 in which a casual language is used, yet various economic terms are encountered. Number 8 is a special issue that treats topics such as Nutritional Taxes, Research, French economists or the Bank of France. I

considered this material to be suitable for this thesis, as it combines a variety of language elements and serves as an ideal support for my choice of topic. Technical language, neologisms, borrowings and metaphors are all encountered in the texts of this study material, which is why I find it important to analyse it and try to determine the most challenging parts of translating some of the texts it contains from English to Romanian.

Before proceeding to the description of the practical translation process, I find it essential to raise a few points that refer to the characteristics of economic texts. As various specialty authors confirm (E.g. Sim, 2012), translation may pass as science in theory, but it is closer to art in practice. The activity of translation is a challenging activity that requires a variety of abilities that can help a translator face the difficulties that can appear in the translation process.

Economic texts are often encountered in academic materials, in specialty magazines or newspapers, reports, but also in informative materials that banks, companies, accountants or corporations that are used to inform the public or promote specific concepts. According to Sim (2012), a professional can deliver a high quality translation only when they have a certain background and expertise in the economic or financial field. It is highlighted that the translator should be familiar with economic terms and expressions and should be able to understand their meanings, even in metaphorical contexts. In this context, it becomes important to understand that the main difficulty is not technical vocabulary, but the lexical category between the general and technical vocabulary. The largest part of scientific and technological texts is known as sub-technical, semi-technical or non-technical vocabulary. This means that readers will encounter regular English words and expressions within a scientific context.

Another important fact that is worth mentioning is the dynamism of economic vocabulary. It is easily noticeable that this field of knowledge knows a scientific acceleration and development that not all translators can cope with. The number of specialized words increases every day, obliging professionals to be up to date with the language changes and adaptations in this field.

Compared to other types of texts, economic texts mainly present ideas, descriptions, definitions or instructions. Such writings are characterized by a brief, technical language. Passive constructions are often used when creating economic texts, this being a rule that most writers and translators follow. This helps them avoid repetition of the subject and allows them to put emphasis on the action.

By using the passive voice, an objective style is being rendered. Both English and Romanian economic texts use passive constructions, which are grammatical constructions in which the subject of a sentence denotes the recipient of the action rather than the performer (Crystal, 1997). Although not all verbs can be used in passive constructions, most of them can be adapted to this style.

The specialised language of economics has a few features that are easily recognizable:

Logical order of statements

The use of specific terms to each given branch of science

The use of pattern-sentences

Impersonality

Passive voice constructions

The use of specific terminology and syntax (Sim, 2010)

Having known this, in the next paragraph, I will present the potential difficulties that a translator can encounter in the translation of economic texts.

3.1 Difficulties in translating economic texts

The article Research and Protection in TSE Mag (2005) in Appendix 1’s analysis begins with a paragraph that displays a casual linguistic style, not too different from a lifestyle or business magazine, with the exception of acronyms:

AXA’s primary mission is to protect both its clients and the wider community against risks. The Group believes that today’s research leads to tomorrow’s improved protection, which is why they founded the AXA Fund for Research in 2007 and signed a partnership with TSE. Its aim: to understand and anticipate risks but also to adapt to regulatory changes and technological revolutions. Denis Duverne, Deputy CEO of AXA gave us his analysis of the challenges facing the insurance industry.

In this paragraph, an introduction to an interview is done, in which the interviewed person is briefly presented, as well as the topic of the article. An informal language is used, which makes the reader confident with regards to their future understanding of the rest of the text. Such a paragraph that contains simple economic references is not as challenging as other texts for economic translators. However, it becomes obvious that the translation will be done accurately only in the presence of basic economic or financial knowledge.

A Romanian translation of the above text could be the following:

Misiunea principală a AXA este protejarea clienților și a comunităților mai largi împotriva riscurilor. Grupul crede că cercetarea de astăzi conduce spre protecția îmbunătățită a zilei de mâine, motiv pentru care au fondat Fondul pentru Cercetare AXA in 2007 și au semnat un parteneriat cu TSE. Scopul acestuia: să înțeleagă și să anticipeze riscuri dar și să adopte schimbări reglementare și revoluții tehnologice. Denis Duverne, CEO adjunct al AXA ne-a oferit analiza provocărilor cu care se confruntă industria asigurărilor.

The above translation is performed almost entirely word-by-word, in an attempt to render the exact words of this article’s author. Although the text does not contain many technical or specialty words, a stylistic difficulty is encountered here, as the English paragraph could be translated using interpretations and stylistic equivalence. For instance, the expression wider community can be translated into comunități întregi, întregii comunități or simply into comunității. In this case, the expression in the SL would not be identical in the TL, but it would have a more comprehensible meaning for the readers. In this case, the translation would be as follows: Misiunea principală a AXA este protejarea clienților și a comunității împotriva riscurilor or Misiunea principală a AXA este protejarea clienților și a întregii comunității împotriva riscurilor.

In the following sentence, another example of stylistic equivalence can be given. The word believe is normally translated into Romanian as (a) crede. In this particular text, the author logically refers to a consideration or a perception of the interviewed person, in which case, the translation into Romanian would be more accurate if the word consideră (considers – English) would be used. The reviewed translation would be Grupul crede că cercetarea (..).

The word order is another difficulty that is often encountered in such texts. A relevant example here is: (…) they founded the AXA Fund for Research in 2007(…), translated into (…) au fondat Fondul pentru Cercetare AXA in 2007 (…). In this case, the word-by-word translation makes the phrase sound innapropriate and somehow naive, leaving the reader with the impression that the translator did not pay much attention to the whole sentence. Should this sentence be read out loud, the phonetics would make the poor choice of words even more obvious. In this case, the word fondat is equal to the words fondat, întemeiat, înființat, (au) pus bazele etc. Lexical substitution becomes necessary in these cases.

Another example of lexical substitution that could be done in this paragraph to make the translation qualitable is the final phrase: Denis Duverne, Deputy CEO of AXA gave us his analysis of the challenges facing the insurance industry, which is translated as follows: Denis Duverne, CEO adjunct al AXA ne-a oferit analiza provocărilor cu care se confruntă industria asigurărilor. The difficulty that might arise here is deciding whether to use the word gave in Romanian in its orginal form or to find a substitute. Although linguists might argue that there is nothing wrong with using this word in this particular context, in my opinion, this is a matter of nuance. The Romanian verb a da or a oferi which is the translation for to give or to offer, means practically giving something to someone. In this context, however, the author means to transmit to the reader that Denis Duverne presents his analysis and not necessarily give us something. Therefore, a more accurate translation is a prezentat analiza provocărilor or ne-a prezentat analiza provocărilor, as the author invokes the pronoun us. Surely, this could be seen as a matter of the translator’s perception.

In the same article, a piece of text that is worth analysing from a translation perspective can be found. This paragraph represents the answer to the journalist’s question What main themes did you focus on? The answer is the following:

We chose three themes liked to our industry: risks concerning human health, environmental risks and socio-economic risks: the behaviour of markets and the behaviour of economic stakehoders on the markets. The fund can finance research contracts like PhDs and post-doctoral work. It also attributes grants to researchers. It funds thematic chairs and perpetual chairs and makes capital injections into research insitutions. Lastly, the fund supports research projects and makes financial contributions to the promotion of researcher’s work.

The word-by –word translation of this text would be as follows:

Pe ce teme principale v-ați concentrat?

Am ales trei teme plăcute industriei noastre: riscuri cu privire la sănătatea umană, riscuri de mediu și riscuri socio-economice: comportamentul piețelor și comportamentul părților interesate ale pieței. Fondul poate finanța cercetarea contractelor precum studiile doctorale și munca post-doctorală. De asemenea, atribuie subsidii cercetătorilor. Finanțează conduceri tematice și conduceri perpetue și face injecții de capital în instituțiile de cercetare. În cele din urmă, fondul suportă proiectele de cercetare și face contribuții financiare pentru promovarea activității cercetătorilor.

The above translation, using the word-by-word approach, is almost incomprehensible and gives the impression that it was written by someone with little to no economic background. The language itself, the articulation and repetition of words makes the entire paragraph less professional and decreases its value.

The first sentence, for instance, We chose three themes liked to our industry might sound professional in English, but the translation Am ales trei teme plăcute industriei noastre uses a naive language that confuses the reader.

The difficulty that the translator faces in this case is the choice of proper words that can render the original meaning. They might ask themselves whether it is ethical to use the originally translated words or substitutes that would express the author’s desire more clearly. Also, the question whether they should generalize, exclude repetitive words and omit words arises. In the given case, the word plăcute could be replaced by pe placul or favorabile or potrivite. The final translation could be: Am ales trei teme potrivite industriei noastre.

Avoiding the repetition of words such as risks or behaviour would lead to omission of words, which, in this case, would benefit the reader. The translation would result in a text that is easier to read and as comprehensible as before: (…) riscuri cu privire la sănătatea umană, de mediu și socio-economice: comportamentul piețelor și al părților interesate ale pieței. Generalization is another important element in this case.

The expression human health makes sense in Romanian, but is not used in this form, as it is generally accepted and understood that human health is the topic when the reader is not informed otherwise. Therefore, the Romanian translation could resume to the word sănătate instead of sănătatea umană.

The most relevant example in this text is given in the part where the responder refers to the fund. The fund can finance research (…) is comprehensible in English, as a fund is a regular world in the English economics field. However, in Romanian, this word, translated literally, does not offer the correct meaning.

In Romanian, the word fondul is indeed represented by material value in the form of money or other goods that serve for a particular purpose, but it is also used as a formal name for various groups of financial resources (E.g: Fondul de Investiții, Fondul de Garantare). In this regard, the translator’s challenge is to choose substitutes that do not change the meaning and the structure much and that also makes the text intelligible.

A potential translation could be Finanțarea poate susține cercetarea (…). In case this option would be chosen, the translator would risk being criticized for the choice of words that do not reflect the SL. In spite of that, the better interpretation gains terrain in favour of accurate translation and poor meaning in the TL. In such cases, the translator must refer to the cultural background that is related to the TL and to the basic differences between countries.

A metaphoric expression is used in this text, which represents another challenge for the translator. In the phrase It funds thematic chairs and perpetual chairs and makes capital injections into research institutions, several aspects must be considered. First of all, the Romanian translation face injecții de capital în instituțiile de cercetare is a word-by-word translation and does not render the tone that the author initially used. In this situation, a proper translation would have been injectează capital în instituțiile de cercetare. Surely, using the word injectează instead of face injecții forces the translator to deviate from the word-by-word translation, by finding an equivalent expression and creating the desired metaphoric significance. Although the given article is part of an economic magazine, metaphors and other stylistic elements are often encountered. This is not a proof of unprofessionalism, but a proof of the author’s desire to express technical language in common words that can be understood by everyone. Moreover, a desire to use creativity to make the economic article more attractive can be observed.

The Romanian translation for chairs is yet another challenge for the translator that would want to give Romanian readers a full understanding of the topic. Except for the historical context in which chair, translated scaun, is used to express ruling or leading, it is not present in any economic or political discussion of the modern society. Therefore, an accurate translation cannot be done and the translator must appeal to what linguistics call compensation.

When compensating, a word can be translated into another that has a similar meaning but makes more sense in the TL, according to its own elements and meanings. Compensation is also categorized as a lexical transformation. Here, the translation of chair could be compensated with conducere, președenție, catedră.

The examples above show that most of the challenges and dificulties that translators could encounter while translating economic texts from English to Romanian are of lexicological nature. Lexicology hasn’t been mentioned very often in the chapters of this thesis, which is why I find it essential to define it in this context. This branch of linguistics studies the lexical system of a language. The main focus in lexicology is on the organization, the changes and the enrichments of a language’s vocabulary.

Modern English Lexicology focuses on word structure and creation, as well as on the challenges they imply. The methods of word formation that the English languists discuss, also exist in the Romanian language. Affixation, compounding, blends, clippings, conversions or acronyms are some of the most debated lexicology topics when it comes to word creation. In terms of translation, lexicology is highly important, as it is a well-known fact that the economic vocabulary evolves rapidly and acquires new words every day. Also, it has become clear for linguists that much of the economic vocabulary is formed of anglicisms and borrowed words. When the above mentioned lexicology processes are well-understood by translators, their ability to find the most accurate meaning to words that have no known equivalents in Romanian increases.

Another specialized magazine, E-Finance (2016), presents updates and economic data to the Romanian public, approaching various topics. An article in the E-Market section (2016:10), discusses the positive and negative perspectives of the IT&C industry in Romanian. The article’s introduction proves that, in many cases, specialized vocabulary, expressions and acronyms in Romanian can be more difficult to translate than those in English. A potential reason behind this matter could be the popularity of English terms and their integration into Romanian that began more than two decades ago. The following paragraph serves as a relevant example:

La finele anului 2014, potrivit INS, contribuția sectorului IT&C la formarea PIB-ului României a fost de 5,2%, acesta situându-se pe locul al șaselea, după industrie (30,3%), comerț (11,7%), administrație publică, învățământ și sănătate (10,5%), tranzacții imobiliare (8%) și servicii. Sectorul IT&C s-a clasat în anul 2014 pe locul al doilea (+0,7%), după industrie (+1,3%), din perspectiva celor mai importante contribuții la creșterea PIB. Prin comparație, în anul 2013, contribuția sectorului IT&C la formarea PIB a fost de +3,4% cu un aport la creșterea PIB de doar 0,1% în scădere față de anul 2012, cu 0,6% la formarea PIB, respectiv cu 0,8% la creșterea PIB-ului.

A word-by-word translation of this text could be done as follows:

At the end of the year 2014, according to INS, the contribution of the IT&C sector to Romania’s PIB was of 5.2%, this being placed on the sixth place, after the industry (30.3%), commerce (11.7%), public administration, education and health (10.5%), real estate transactions (8%) and services. The IT&C sector was ranked in 2014 on the second place (+0.7%), after the industry (+1.3%), from the most important PIB contributions’ perspective. By comparison, in 2013 the contribution of the IT&C sector to the PIB formation was of +3.4% with a share to the PIB increase of only 0.1%, with a reduction of 0.1% comparing to 2012, with 0.6% to the PIB formation, respectively with 0.8% to the PIB increment.

The above word-by-word translation has a few important flaws that may confuse English readers, especially if they are not familiar with the Romanian terms and accronyms. For instance, PIB is an inexistent term that foreign readers do not comprehend for a number of reasons: it is an accronym that does not express or explain a specific term, it has no equivalent in the English language if taken litterally and makes no sense in the given context. Therefore, the equivalent accronym should be used in such a translated paragraph. GDP (Gross Domestic Product) is a valid equivalent for PIB. Once PIB is replaced with GDP, the entire paragraph becomes more inteligible for those who wish to extract specific information from it. This represents a great difficulty for translators and, should they fail to find equivalents, the translated text will only confuse the reader, leaving them with many question marks.

Another remark regarding the language in this paragraph must be done: surprisingly, the original paragraph written in Romanian refers to the IT&C sector using English accronyms. In Romanian, IT&C translates to Tehnologia Informației și a Calculatoarelor (TIC). However, the author uses the English equivalent, as its penetration in the Romanian IT market is generally understood and used by individuals of all ages.

The paragraph’s readability is another factor that must be highlighted in this context. The word-by-word version shows that the translator has forcibly used prepositions such as cu (with) repeatedly. Although the high use of prepositions is common in the Romanian language, it makes the text less readable and difficult to follow. A solution to this challenge is omission. By omitting the word with in the translated text, its structure and meaning will remain the same and the readability will be improved.

The use of metaphors, popular sayings and epithets seems unlikely to be found in economic texts which are known for their rigid language and technical vocabulary. To make economic articles more attractive and easier to read, authors and journalists appeal to such stylistic elements. This represents one of the main challenges for economic translators who should be careful not to lose the essence, style and the readability of the text. In this situation, though, a word-by-word translation is pointless. An article in the E-Finance magazine (2016:28), in which the general manager for KEBA Automation Romania is interviewed, begins as follows:

Sunteți la cârma subsidiarei KEBA din România din vara anului 2015, poziție în care ați venit după o prețioasă experiență acumulată în sistemul bancar local. Cum vă simțiți „de cealaltă parte a baricadei”, în postura de furnizor de echipamente high-end?

A translation exercise following the word-by-word rule shows how flawed the text would be:

You are at the helm of the KEBA Romania subsidiary from the summer of 2015, position on which you arrived to after a precious experience accumulated in the local banking system. How do you feel on the other side of the barricade, in the position of a high-end equipment supplier?

One of the most important flaws of this translation is the use of metaphors and popular expressions that only make sense in the SL. Although the expression being at the helm (of something) exists in English, it is rather uncomfortably used in this context. In English, being at the helm is mostly used in its literal meaning. Two of the best examples of this expression’s use are Lieutenant Commander Davies will be at the helm and Without the right person at the helm, this ship will go down. In order to solve this difficulty, the translator can use equivalent expressions that have the desired signification. One of the valid options would be using the expression being in charge. This way, the entire phrase would become easily comprehensible: You are in charge of (…).

In this particular text, another challenge is represented by the use of common expressions, such as filling a position (a job). If in Romanian, the word poziție is commonly used as something that one can come/arrive to or in (poziție în care ați venit), the English translation rather lacks meaning. A solution to this difficulty can be the grammatical expansion used for clarity of meaning, known as addition, the substitution or finding an equivalent. In this case, the result would be: (…) from the summer of 2015, position which you filled (…). The word filled can also be replaced with occupied, took over etc.

Also, the adjective precious has a naive significance, not specific to economic texts. Although in Romanian this expression does not seem too opulent, it could be inappropriate in English. Substituting it with invaluable, excellent, opportune, favourable or worthy, would make the text more readable and less childish. A professional translator should differentiate the texts in which precious experience or simply the word precious can be used and those in which it is too pretentious. For instance, saying that every experience is precious or every photograph is precious adds value to the texts and stimulates the reader’s creativity. Economic texts, however, are less creative and more technical, which is why the choice of words must be done carefully.

In the same context, the word accumulated is highly pretentious and decreases the text’s readability. Economic texts are meant to inform the reader, this being the reason for using less complicated language. If accumulated is replaced by gained or gathered, the readability increases immediately.

Having these examples in one phrase only, proves that translators are faced with many difficulties when attempting to deliver comprehensible economic texts that fulfils the main purpose of the text: informing the reader and offering new perspective over complex matters.

As seen in the above exercises, every translation difficulty has a solution, yet translators must be aware of the impact of a non-readable text. Also, translators must be willing to find the best solutions for every translation. Certain personality traits, extended knowledge and experience are required for a translator to be able to understand and find their options. In lack of these things, one might not even realize that there are other methods and techniques that can be used in order to deliver high-quality content.

3.2 Translation methods and strategies

Every translation must start with a strategy, especially when referring to technical texts. The two famous technical procedures promoted by Nida (1964) and followed by worldwide translators are the analysis of source and receptor languages, the study of the source language text before translating it and the judgement making of the semantic and syntactic approximations (Nida, 1964:241-245). These procedures are considered to be technical ones, while organizational procedures that must be taken into consideration are the constant re-evaluation of the attempt made, contrasting it with the existing available translations of the same text done by other translators and checking the text’s communicative effectiveness by asking the target language readers to evaluate its accuracy and effectiveness and studying their reactions (Nida, 1964:246-247).

These two procedure categories are the first steps in a translator’s strategy.

The texts from TSE Mag (2015) and E-Finance (2016) and the attempt to translate them into the opposite language, confirm that an analysis of both the SL and the TL must be performed in order for the translator to be able to deliver qualitative results. An intensive judgement of the semantic and syntactic structures was necessary in these cases. Without judging whether the choice of words and the semantics is suitable for a particular context, the final result would be meaningless, difficult to understand or confusing, while scientific, technical or sub-technical texts are characterised by clear information and expressions and obvious meanings.

Nida’s theories regarding linguistic meaning, referential meaning and emotive meaning have also been confirmed during this translation exercise. Regardless of the level of technicality, economic texts that are published in magazines, newspapers or online and that target a wider public than just the academic elite, depend on the translator’s understanding of these theories. The ability to decode the SL’s message and transpose it into the TL is an art, more than a science. A semantic and stylistic restructuration is often necessary when metaphors or other stylistic elements are being used.

As seen in the given examples, the main solutions and methods for translation difficulties are the following:

Equivalence

linguistic equivalence

paradigmatic equivalence

stylistic (translational) equivalence

textual (syntagmatic) equivalence

Lexical transformations

Lexical substitution

Specification

Generalization

Differentiation

Compensation

Grammatical transformation

Substitution

Transposition

Omission

Addition

Learning how to adopt the best strategy and method when translating economic texts is a matter of experience, but also a matter of will and knowledge. A wrong or no strategy at all is adopted by inexperienced translators or by professional translators who are not familiar with economic texts. In any case, choosing a right strategy is crucial for a qualitative translation. The consequence of not adopting a strategy can be the reader’s confusion, but it can also create major disinformation. The necessary skills that lead to a translator’s capacity of choosing the best methods and solution for translation difficulties are acquired through exercises of reading, comprehension, researching, analysis or composition.

Conclusion

In this thesis, which aimed at highlighting and analysing the translation difficulties in economic texts, I have reached to the conclusion that the hypotheses mentioned in the introduction have been confirmed. The two hypotheses were:

Translation in the economic field must be done by specialized individuals with knowledge of economics who are constantly updated in regards to the vocabulary and specific terms in use

Any economic text must be regarded as complex and country-specific and requires extended knowledge in order to be translated correctly

Having analysed the peculiarities of economic texts and their translations, I reached to the conclusion that lexicology, grammar and the translator’s ability to interpret and maintain the original meaning are essential to obtaining qualitative translated texts. Borrowing, generalization, compensation, substitution and equivalence are just a few of the lexical techniques that can be used by translators when searching for solutions to various difficulties.

As shown in the exercises in Chapter III, translators are likely to fail by making simple errors that prevent the desired transfer or knowledge or information. The desire to perform word-by-word translations is not usually successful, which is why certain flexibility should be considered as beneficial. As seen in the paragraphs in Tse Mag(2015) and E-Finance (2016), basic errors can transform an economic text into one that lacks meaning and becomes difficult to read. The cultural and economic background must be thoroughly studied by translators in this sphere.

As English will continue to penetrate the Romanian language, more economic terms will be borrowed and more Anglicisms will form. Also, as the English speaking population in Romania grows, some terms, such as IT, will be fully understood and used casually. From this perspective, translators may find it easier to deliver comprehensible texts, as not all words and acronyms will need Romanian equivalents, but they will be used in the original form.

Recent developments in Romania’s economic and educational spheres also lead to the conclusion that the probability to have an increased number of proficient English speakers in Romania that will no longer require full translation of economic texts is high. From my perspective, in the years to come, professionals will mostly be required to deliver official documents’ translations, rather than articles.

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Appendix 1

Article Research and Protection, Section Actors, p. 22-23 of TSE Mag (2005)

Appendix 2

Article Caiet: Despre perspectivele bune și rele ale ITC-ului din România, E-Market Section, p.10 of E-Finance (Anuar – 2016)