### Step 1: Parenthesized Clause Breakdown

**A. Break the sentence into logical clauses by parenthesizing them:**

(时政微观察) | (民营经济大显身手正当其时)

**B. Break down the sentence according to the parenthesized clause hierarchy into a tree:**

- 时政微观察
  - 时政 (shízhèng): current politics
  - 微观察 (wēi guānchá): micro-observation
- 民营经济大显身手正当其时
  - 民营经济 (mínyíng jīngjì): private economy
  - 大显身手 (dà xiǎn shēnshǒu): to fully display one's abilities
  - 正当其时 (zhèngdāng qí shí): just at the right time

**C. Identify any temporal, causative, or conditional elements and explain their relationships:**

- **正当其时 (zhèngdāng qí shí)**: This phrase indicates a temporal relationship, suggesting that the action of "大显身手" (fully displaying one's abilities) is happening at the right time.

### Step 2: Hanzi Breakdown Table

| Hanzi | Pinyin       | Literal English Meaning |
|-------|--------------|-------------------------|
| 时    | shí          | time                    |
| 政    | zhèng        | politics                |
| 微    | wēi          | micro                   |
| 观    | guān         | observe                 |
| 察    | chá          | inspect                 |
| 民    | mín          | people                  |
| 营    | yíng         | operate                 |
| 经    | jīng         | economy                 |
| 济    | jì           | help                    |
| 大    | dà           | big                     |
| 显    | xiǎn         | display                 |
| 身    | shēn         | body                    |
| 手    | shǒu         | hand                    |
| 正    | zhèng        | just                    |
| 当    | dāng         | at                      |
| 其    | qí           | its                     |
| 时    | shí          | time                    |

### Step 3: Fully Literal Translation (With Hanzi and Pinyin)

"[The] (时政 shízhèng) [current politics] (微观察 wēi guānchá) [micro-observation] | [The] (民营经济 mínyíng jīngjì) [private economy] (大显身手 dà xiǎn shēnshǒu) [fully displays its abilities] (正当其时 zhèngdāng qí shí) [just at the right time]."

### Step 4: More Natural but Still Literal Translation

"Micro-observation of current politics | The private economy is fully displaying its abilities just at the right time."

### Step 5: Analysis of Grammar and Meaning

**A. Explain the function of key words:**

- **正当其时 (zhèngdāng qí shí)**: This phrase functions as a temporal adverbial, indicating that the action is happening at the right time.
- **大显身手 (dà xiǎn shēnshǒu)**: This is a verb phrase meaning "to fully display one's abilities," often used to describe someone or something showing off their skills or capabilities.

**B. Discuss how word order and grammatical structures affect meaning:**

- The sentence is structured in a way that first introduces the subject of observation ("时政微观察") and then provides the main clause about the private economy ("民营经济大显身手正当其时"). The word order emphasizes the timing of the private economy's actions.

**C. Compare alternative phrasings and explain why this specific wording was chosen:**

- An alternative phrasing could be "民营经济正在大显身手，正当其时," which adds "正在" to emphasize the ongoing nature of the action. However, the original phrasing is more concise and impactful, focusing on the timing rather than the continuous aspect.

### Step 6: Final Thoughts

**A. Provide feedback on the sentence's grammatical correctness and naturalness:**

- The sentence is grammatically correct and natural in Chinese. It effectively conveys the idea that the private economy is currently in a position to fully display its capabilities.

**B. Analyze word-choice, such as with respect to politeness or other nuanced meanings:**

- The word choice is formal and appropriate for a context discussing economic and political observations. The use of "大显身手" adds a positive connotation, suggesting that the private economy is thriving.

**C. Suggest minor refinements, if any, to make it sound even more natural or precise:**

- The sentence is already quite natural and precise. However, if the context allows, adding a bit more detail about what "大显身手" entails could provide more clarity. For example, "民营经济在技术创新和市场拓展方面大显身手，正当其时" (The private economy is fully displaying its abilities in technological innovation and market expansion, just at the right time).