- •Saint Petersburg State University
- •Saint-Petersburg
- •Unit I
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •UNDERSTANDING A PRINTED TEXT
- •COMPREHENSION CHECK
- •INCREASE YOUR VOCABULARY
- •LANGUAGE ACTIVITY
- •Unit II
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •Adverbs
- •UNDERSTANDING A PRINTED TEXT
- •INCREASE YOUR VOCABULARY
- •LANGUAGE ACTIVITY
- •Unit III
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •UNDERSTANDING A PRINTED TEXT
- •COMPEHENSION CHECK
- •Exercise 2. True or false?
- •INCREASE YOUR VOCABULARY
- •LANGUAGE ACTIVITY
- •Unit IV
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •UNDERSTANDING A PRINTED TEXT
- •INCREASE YOUR VOCABULARY
- •LANGUAGE ACTIVITY
- •Unit V
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •UNDERSTANDING A PRINTED TEXT
- •COMPREHENSION CHECK
- •INCREASE YOUR VOCABULARY
- •LANGUAGE ACTIVITY
- •Unit VI
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •UNDERSTANDING A PRINTED TEXT
- •COMPREHENSION CHECK
- •Unit VII
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •UNDERSTANDING A PRINTED TEXT
- •CHECK YOUR UNDERSTANDING
- •INCREASE YOUR VOCABULARY
- •LANGUAGE ACTIVITY
- •Unit VIII
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •UNDERSTANDING A PRINTED TEXT
- •Unit IX
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •COMPREHENSION CHECK
- •INCREASE YOUR VOCABULARY
- •Unit X
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •COMPREHENSION CHECK
- •Unit XI
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •Adverbs
- •COMPREHENSION CHECK
- •INCREASE YOUR VOCABULARY
- •1 - смысловой глагол
- •Unit XII
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •COMPREHENSION CHECK
- •INCREASE YOUR VOCABULARY
- •Exercise 1. Insert articles where necessary.
- •Model: may – is allowed to …
- •Unit XIII
- •WORD-STUDY
- •Nouns
- •Verbs
- •Adjectives
- •Adverbs
- •INCREASE YOUR VOCABULARY
- •Exercise 1. Insert articles where necessary.
- •Exercise 2. Insert the proper prepositions (of, on, in).
- •Exercise 3. Use the proper grammar forms of the modal verbs a) can, b) may, c) must, d) could instead of their equivalents.
- •COMPREHENSION CHECK
- •INCREASE YOUR VOCABULARY
- •LANGUAGE ACTIVITY
- •UNDERSTANDING THE PRINTED TEXT
- •COMPREHENSION CHECK
- •INCREASE YOUR VOCABULARY
- •LANGUAGE ACTIVITY
- •UNIT XVII
- •UNDERSTANDING A PRINTED TEXT
- •COMPREHENSION CHECK
- •INCREASE YOUR VOCABULARY
- •UNDERSTANDING A PRINTED TEXT
- •CHECK YOUR UNDERSTANDING
- •INCREASE YOUR VOCABULARY
- •UNDERSTANDING A PRINTED TEXT
- •LANGUAGE ACTIVITY
- •UNDERSTANDING THE PRINTED TEXT
- •INCREASE YOUR VOCABULARY
- •LANGUAGE ACTIVITY
- •WORD-STUDY
- •UNDERSTANDING A PRINTED TEXT
- •COMPREHENSION CHECK
- •INCREASE YOUR VOCABULARY
- •LANGUAGE ACTIVITY
- •WORD-STUDY
- •COMPREHENSION CHECK
- •LANGUAGE ACTIVITY
- •WORD-STUDY
- •UNDERSTANDING A PRINTED TEXT
- •COMPREHENSION CHECK
- •INCREASE YOU VOCABULARY
- •Unit XXIV
- •WORD-STUDY
- •Model: The difficulty can be avoided.
- •UNDERSTANDING A PRINTED TEXT
- •Remember!
- •APPENDIX
- •Business Communication
- •II. The job campaign
- •Working Experience
- •CURRICULUM VITAE
- •Education
- •Professional Experience
- •Hobbies and Professional Interests
- •III. Request
- •IV. Claim, protest!
UNIT XX
WORD STUDY
Exercise 1. Check the transcription in a dictionary, read and translate the words listed below.
Geographical names
Eastern Europe, Scottish, Tokyo, Edinburgh.
Nouns
credit, chaos, venture, pension, turmoil, endowment, wheal, fortune, favor, maturely, hazard, widow, orphan, agency.
Adjectives
smart, careful, additional.
Verbs
flourish, identify, weigh, improve.
Exercise 2. Read and translate the words of the same root.
1.to care, care, careful, carefully, careless.
2.to value, value, valuable, valuer, to evaluate
3.to measure, measure measurement, measurable, immeasurable, measureless
4.to analyse, analysis, analyst, analytic
5.democracy, democrat, democratic, democratically, to democratize
UNDERSTANDING THE PRINTED TEXT
WHAT ARE SOME OF THE RISKS OF INTERNATIONAL INVESTING?
International investing is a risky business. When the Communist economies of Eastern Europe were transformed into free-market economies, for example, their credit risks improved immeasurable, and those who invested first saw the value of some of their investments flourish. In other countries, however, investors were not sow lucky as political turmoil and economic chaos pushed many ventures to the brink of bankruptcy.
International investing carries many additional risks along with additional rewards. Global investors, including pension funds and university endowments, need to look very carefully at each country’s political and economic situation before lending money or otherwise investing abroad. By removing – or a least identifying – some of the risks involved, the wheel of fortune of the global markets can actually spin in the smart investor’s favor. Banks, for example, have made a science of weighing the risks in international investment. When lending money to international borrowers, they not only consider the traditional risks of credit, maturity, interest rates, etc., but they identify additional hazards such as exchange risk and political risk.
Changes in the value of foreign currencies can provide additional profits, or they could end up eating away the earnings from and otherwise lucrative international
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investment. A Scottish widows an orphans fund that invests its funds in Tokyo may see the value of its stocks and bonds rise handsomely on the markets in the Far East. But if the yen loses value against the pound in Edinburgh, those foreign earnings may end up being a loss for those who need the money at home.
Exchange risks can also work in an investor’s favor. For example, an American investing in Australian stocks stands to gain handsomely if the Australian dollar goes up against the U. S. dollar. The profit from an investment in a strong foreign currency can sometimes exceed the local profit in the investment itself.
Loans to governments and companies in foreign countries also carry an exchange risk if the borrower pays back the loan in a different currency. If exchange rates change, the investor may end up getting more or lees in return when the loan is exchanged back into the lender’s own currency. For this reason, many loans to Third World countries such as Brazil and Mexico were not made in the local currency. Western and Japanese banks usually preferred to have the loans denominated in dollars, yen, and marks in order to avoid exchange risks.
International investments also present a political risk if a government falls or if new laws are passed restricting international payments. If a democratically elected government is toppled, for example, the local markets may drop like a stone as foreign investment money flees the country.
After all the risks have been analyzed, international investments should provide a return that rewards the investor for the various risks taken. The use of rating agencies and political analysts helps the investor to calculate risk, but the decision on the return and amount of investments in any one venture must be made on an individual basis.
Note:
political turmoil – политическая нестабильность
Exercise 1. Complete sentences according to the information in the text.
1.International investing is … . a) a nonprofitable business
b) a profitable business c) a risky business
2.Political turmoil and economic chaos in a foreign country … . a) make some ventures borrow additional money from banks
b) help some ventures to obtain considerable rewards c) push some ventures to the brink of bankruptcy
3.Western and Japanese banks make loans denominated … . a) in local currencies
b) in dollars
c) in any currencies
4.If a democratically elected government is toppled, the local market … .