Материал: 2507

cal instability in Africa and the Middle East, international terrorism or the Latin American debt crisis. It is the emergence throughout both the developed and developing world of a vast and permanent underclass of seriously poor.

Cheap Labour from the East

In some cities in Central and Eastern Europe, unemployment is running as high as eighty per cent. Wages have fallen so far behind escalating inflation that immigration controls in the West have had to be tightened to prevent an influx of workers from the East. But, of course, this hasn’t stopped some Western companies exploiting cheap labour in both Eastern Europe and South-East Asia, and putting their own employees out of work.

The Working Poor

In the USA, where unemployment benefit is cut after six months and staying out of work is not an option, they areИcreating jobs at the cost of

decreased incomes. For in many of the inner cities of the USA they have

something approaching a Third WorldДeconomy. According to the latest

figures, 12.7% of Americans currently live below the poverty-line. The problem is not so much unemployment as under-employment, with millions of people in low-paid, deadА-end, so-called ‘McJobs’ that have zero prospects.

бCorporate Rule

The result of all this is that corporations now exercise an unprecedented influence on theиglobal economy and the distribution of wealth, as the world’s governments, powerless to regulate them, become increasingly irrelevant. NearС-monopolies like Microsoft are hard to fight and in industries like telecoms, the top ten companies control eighty-six per cent of the market. In fact, half the world’s richest institutions are not countries but companies. No wonder then that both countries and companies try to conceal the real figures. As the famous saying goes, ‘It’s often easier to be economical with the truth than truthful about the economy’.

from: New Business Matters

74. Which of the following topics does the article discuss?

1)the boom-bust economy;

2)political extremism;

3)the money markets;

4)social inequality;

5)retraining the unemployed;

6)corporate fraud;

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7)the black economy;

8)government cover-ups.

75. What is your personal reaction to the article?

I totally agree that … .

I think the point about … is probably true. I don’t agree with the point about … at all. I already knew … , but I didn’t realize … . I’m not sure I can believe … .

What shocks me most is … .

76. Find the words and expressions in the article which mean:

1.In the past … and … used to even themselves out.

2.We now swing from … to soaring … .

3.Poorly managed financial … caused the … of the Japanese economy.

4.The dotcom … was motivated by short-term … .

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5.The currency … are where the real … is made.

6.The … in the number of mergers and … has compounded the problem.

7.Shareholders made huge … but thousands of … were laid off.

8.Many companies now hide … to finance … .

78.What do you think about Russia’s economy? Is it strong or not? Would you say it was about to enter a period of growth or decline?

79.Complete these words by adding the vowels. Each word can follow the adjective economic.

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80. Now complete the following sentences using some of the words from ex. 79:

1.Economic …, such as the rate of inflation and the level of unemployment, are the signs that economists look for to help them produce their economic … .

2.Economic … is what a country faces if it builds up too great a national debt.

3.The prospects for a country’s economic future might be called its economic … .

4.During a period of economic … the government is forced to take strong economic … to revitalize the economy. И

5.Despite all the talk of political and economic …, Europe seems more divided than ever. Дwhich are the opposite of those onАthe left.

10.Bring About ECONOMIC RECOVERY

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13.Bring Down UNEMPLOYMENT

17.Come Under AN ATTACK

18.Accumulate DEBTS

82. In each example, use another form of the word in capitals to complete the sentence.

1.She’s a leading … . И

2.You can call it being … with the truth,Дif you like. I call it lying!

3.We need to think of practical ways in which we can … .5. The whole thing is … motivated.А

6. They’ve … the issue by involving the government.

*GDP - gross domestic product

1.Since 1985 GDP … .

2.Between 1985 and 1995 GDP more than … .

3.But for the last … years GDP … .

4.Over the next 3 years GDP … .

5.There’s been a 2% rise … .

6.Inflation is expected … .

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