VI. Discussion.

Debate the issue as a class:

Space exploration: a waste of money and resources or the planet's future?

Unit II globalization of world trade and economy

I. Pre-reading task:

a) Before reading the article study the following list of word combinations on the topic:

1. tariffs; a hike/ a rise in the tariffs;

2. subsidies; to be swaddled in subsidies;

3. antidumping measures;

4. civil disobedience , popular backlash building; to take to the streets;

5. to set the rules for international commerce;

6. to bid for admission to;

7. to set up legal offshore tax shelters;

8. to trade in goods, intellectual property, services;

9. to administer and enforce trade agreements;

10. to ensure free flow of goods and services;

11. to oppose G-M foods , hormone-fed beef;

12. low-cost Third World labour;

13. to threaten jobs in developed nations;

14. to restrict endangered-species trade;

15. to oppose environment restrictions;

16. to slash / cut tariffs (barriers) to...;

17. to get concessions from the global trade community;

18. to be dogged by protesters, to orchestrate a student walk-out;

19. environmental, human-rights, antinuclear and consumer activists;

20. economic upturn / downturn , slump;

21. unemployment, layoffs;

22. to tear down trade barriers;

23. payoff(s).

b) Discuss the following points. Make use of the vocabulary listed above:

1) There exists an opinion that WTO is both a traffic cop and a top court of the global economy. Can you account for it? Do you think it's a well -founded opinion?

2) They say who trades together - plays together. Study the information listed below and say whether it proves the statement.

Talking Trade: Negotiating a World Full of Conflicts.

I. The Players: Europe and Japan vs. the U.S. and the Third World.

The Issue: European and Japanese farmers are swaddled in subsidies. The U.S. and the Third World want access to those markets. Europe and Japan say the U.S. also aids farmers; they oppose the U.S.'s genetically modified food.

The Likely Outcome: Look for subsidies to subside but healthy-food fears to grow.

II. The Players: The U.S. and the European Union vs. the Third World.

The Issue: Low-cost Third World labour, which threatens jobs in the U.S. and the E.U. The U.S. proposes a WTO study group on labour issues. Some E.U. countries are supportive. Developing nations don't want outside interference in their labour markets.

The Likely Outcome: Don't expect much progress here.

III. The Players: The U.S. vs. everyone else.

The Issue: The U.S. wants to slash barriers to several key industries, including health care, banking, education, insurance and E-commerce. But a huge battle looms.

The Likely Outcome: WTO members have already agreed to negotiate over services. The U.S. will drive hard to get some concessions from the global trade community.

IV. The Players: The U.S. and E.U. vs. the Third World.

The Issue: The U.S. and E.U. want to enforce environmental pacts - such as a treaty restricting endangered-species trade - without WTO challenge. But the U.S. seeks to slash wood tariffs, thus increasing deforestation. Third World opposes "enviro" restrictions.

The Likely Outcome: Progress may come on less controversial issues, such as fishing subsidies.

V. The Players: U.S. vs. Japan and the Third World.

The Issue: U.S. lawn block countries from "dumping" subsidised products - steel, semiconductors, textiles - on the American market. Third World nations say the Laws are protectionist and U.S. should import more.

The Likely Outcome: With an election year coming and so many jobs at stake, the U.S. will not give ground.

3). U.S. President Bill Clinton confesses that most people think the WTO is some "rich guy's club where people get in, talk in funny language and make a bunch of rules that help the people that already have and stick it to the people that have not". What's your idea of the role and aims of the WTO?

4). What do you know of the pros and cons of Russia's bidding for the WTO admission? Could the consequences be disastrous or beneficial?

5). Why is there so much disobedience accompanying WTO meetings?

One of them is due to take place in Moscow. Is the situation likely to be the same as in Seattle or Genoa?