Exercise 8. Work in pairs. Translate the following two texts into Ukrainian. Use Vocabulary 3-4 and Exercises 3A-4A in case of difficulties.

Text 3

Large-scale U.S. involvement in providing development assistance outside the ae­gis of the World Bank may be traced back to the U.S. decision to help Europe undertake recovery after the Second World War.

President Truman, in his 1949 inaugural address, set forth an outline of this program, and seemed to stir the nation’s imagination when he proclaimed it a major part of American foreign policy.

The program was reorganized in 1961 and subsequently was administered through the U.S. Agency for International Development (USAID). In the 1980s USAID was still providing assistance in varying amounts to 56 nations. In recent years, USAID programs have moved away from grand development schemes such as building huge dams, high­way systems or basic industries. Increasingly, USAID has emphasized food and nutri­tion; population planning and health; education and human resources; specific economic development problems; famine and disaster relief assistance; and Food For Peace, a program that sells food and fiber on favorable credit terms in the amount of $ 1 thousand- million annually and makes outright grants to the poorest nations.

Text 4

The global economic interdependence of the United States and other nations has grown geometrically since the Second World War. It is evidenced in resource utilization, production decisions, raw materials trade and consumer demand. It can be seen in such efforts to create order in international economic relationships as the International Mo­netary Fund, the World Bank and the General Agreement on Tariffs and Trade. It has also been demonstrated through the wide-ranging effects of single dramatic events, such as each of the oil price shocks of the 1970s.

Another sign of increased interdependence is the growth of foreign investment. In 1989, U.S. direct investment in other countries grew to $373.4 thousand-million, up from $207.8 thousand-million in 1982, valued historically. Foreign direct investment in the United States grew even faster, rising $400.8 thousand-million in 1989 from only $124.7 thousand-million in 1982, as measured by the same valuation. Through foreign investment, the U.S. industry has helped develop major industries in other countries, such as copper production in Chile - main source of foreign exchange for that country.

Exercise 9. Translate the following texts into English. Work in pairs.

Text 5

Багато американських компаній прагнули заснувати в інших країнах дочірні під­приємства, аби постачати виготовлені на них товари безпосередньо на місцеві ринки.

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