Paraphrasing (1st paragraph)
Text
Much has been said and written about how Welch has transformed what was an old-line American industrial giant into a keenly competitive global growth engine, how he has astutely moved the once Establishment-maker of things into services. Welch has reshaped the company through more than 600 acquisitions and a forceful push abroad into newly emerging markets.
The main idea of the paragraph
Much has been said and written about what Welch has done to and for GE.
就韦尔奇为通用公司所做的贡献以及他给通用电气带来的变化，已经说了很多，也写了很多。
句子分析
Much has been said and written about how Welch has transformed what was an old-line American industrial giant into a keenly competitive global growth engine, how he has astutely moved the once Establishment-maker of things into services.
在此句中：
1、Much has been said and written about是主句；
2、how Welch has transformed what was an old-line American industrial giant into a keenly competitive global growth engine 和 how he has astutely moved the once Establishment-maker of things into services 是两个宾语从句，作介词about的宾语；
3、在第一个宾语从句中，“what was an old-line American industrial giant”又是一个宾语从句，作has transformed 的宾语。
词语解释
emerging market 新兴市场；新兴国家
The term emerging markets is commonly used to describe business and market activity in industrializing or emerging regions of the world. Originally brought into fashion in the 1980s by then World Bank economist Antoine van Agtmael, the term is sometimes loosely used as a replacement for emerging economies, but really signifies a business phenomenon that is not fully described or is constrained to geography or economic strength; such countries are considered to be in a transitional phase between developing and developed status. Examples of emerging markets include China, India, Mexico, Brazil, Chile, much of Southeast Asia, countries in Eastern Europe, the Middle East, parts of Africa and Latin America. Emphasizing the fluid nature of the category, political scientist Ian Bremmer defines an emerging market as “a country where politics matters at least as much as economics to the markets”.
