希望双方早日达成共识，停止冲突，以免经济衰退，生灵涂炭。(agreement)

It is hoped that both sides can reach an agreement as soon as possible, cease conflicts, so as to avoid economic recession and widespread civilian suffering/great human misery.

考查固定句型和短语。句首表示 “希望……” 句型为It is hoped that ...；表示 “双方” 用both sides；表示 “达成共识” 短语为reach an agreement；表 “早日，尽快” 短语为as soon as possible；表示 “停止冲突” 为cease conflicts，can后跟动词原形；表示 “以免，为了” 短语为so as to do sth.；表示 “以免，避免” 用动词avoid；表示 “经济衰退” 为economic recession；表示 “生灵涂炭” 可翻译为widespread civilian suffering / great human misery，用and连接。故翻译为：It is hoped that both sides can reach an agreement as soon as possible, cease conflicts, so as to avoid economic recession and widespread civilian suffering / great human misery.”。