Unctad' VII and After

1. The world economy in the 1980s has been characterized by a low-down in growth of demand and output, compared with the preceding two decades, generally lower rates or inflation, difficulties in many countries in adapting to structural changes, a mounting stock of debt, high real interest rates, high and increasing levels of protection, commodity prices depressed to their lowest level in 50 years, terms-of-trade losses sustained by commodity exporting countries, and a generally insecure economic environment in which million of people still lack the basic conditions for a decent life.

2. In this difficult global economic situation, there has been a diversity of socio-economic experiences. Developed market-eсonomy countries have succeeded in curbing inflation and in maintaining steady, though slow, growth, but unemployment levels are still high and external payments imbalances remain excessive in some of these countries. On account of their dominant share in world trade, the impact of their slow growth has been transmitted to other countries which had toreckon with it as a significant factor in policy formulation. Growth has slowed also in countries of Eastern Europe.

3. Most developing countries had to retrench; they have been unable to consolidate and build upon the economic and social progress which they had achieved during the two preceding decades. In the 1980s, the average per capita income of the developing countries as a whole fell further behind that of the developed countries. Indeed, per capita incomes declined in most countries in Latin America and in sub-Saharan Africa. Nevertheless, a number of more industrialized export-led economies of East Asia, and the larger Asian low-income economics, have continued to grow.

Примечание. UNCTAD - United Nations Conference on Trade and Development - Конференция ООН по торговле и развитию, ЮНКТ АД.

II. Ответьте на следующие вопросы:

1. What were the main tendencies in the world economy in the 1980s?

2. What did developed market economy countries succeed in?

3. Who had the dominant share in world trade?

4. Did the average per capita income of the developing countries fall further behind that of the developed countries?

5. What was the situation like in more industrialized export-led economies of East Asia?

III. Найдите в тексте слово demand и уточните его
значение.

IV. Вместо пропусков вставьте подходящее слово. Переведите на предложения на русский язык.

rate, level, incomes, debt, share

1. The external... of many developing countries is growing.

2. The... of developing countries in world trade is still not very great.

3. The... of inflation must be curbed.

4. Unemployment... is still high in many developed countries.

5. Per capita... have declined in many countries.

V. Найдите однокоренные слова для следующих слов:

basis, employment, industry, to pay, to formulate.

Вариант 3

I.Прочитайте и устно переведите весь текст. Перепишите и письменно переведите абзацы 1,2.

Impact of Trade Restrictions

1. The 1980s have also been a time of complexity for economic policy-makers in both developed and developing countries. Increasing unpredictability
has been manifested in the unilateral adoption of trade restrictions specific to countries and products, and in the appearance of massive and often distorting flows of funds within and across international currency and commodity markets.
Associated with these phenomena have been interrelated problems arising from currency misalignments, persistent payments inbalances, an uneven distribution of international liquidity, and net outflows of financial resources from many developing countries.

2. Both policy-makers and entrepreneurs are being challenged by an acceleration in the pace of structural changes which are very difficult to harness. These changes can be traced to a number of underlying factors, the most important of which are the impact of scientific advance and applied technology, and government policy. These factors are affecting production, consumption and trade patterns; producing far-reaching developments in the service sector, particularly financial services, and in commodity markets; significantly altering employment patterns; and leading to shifts in international competitiveness.

3. Many countries-developed and developing alike, including the least developed countries are investing substantial efforts in adjusting their economies to these new realities in pursuit of their national objectives. They are also reappraising the respective roles of the public and private sectors in the economy. However, while some have made progress in recent years in reducing or eliminating growth-retarding distortions and rigidities by enhancing the structural flexibility of their economies, much remains to be done.

II. Ответьте на следующие вопросы:

1. What was the result of structural changes in the 1980s?

2. What factors were affecting production?

3. In what way were developed and developing countries trying to adjust their economies to new conditions?

4. What countries were reappraising their respective roles in the public and private sectors of the economy?

5. What were the main problems for economic policy makers in the 1980s?

III. Найдите в тексте слово funds и уточните его значение.

IV. Вместо пропусков вставьте подходящее слово
или словосочетание. Переведите предложения на русский язык.

pace, consumption, objective, shift, the public sector

1. The role... in Russian economy is diminishining.

2. The... of National development must be clearly formulated.

3. The... of production growth is being discussed at the conference.