Vocabulary

1. faltering – неуверенный, нерешительный, неустойчивый

2. to lodge a complaint – подавать жалобу

3. to adjudicate a dispute – рассматривать спор

4. to reciprocate – 1) отвечать взаимностью; 2) отвечать, отплатить

Answer the questions:

What happened to trade and growth after the economic crisis hit the world in 2008?

What were the aims of the Doha round and why did the talks fail?

What appeared as an alternative to a multilateral deal?

What is the drawback of regional deals?

Why is a Global Recovery Round considered by experts to be a better alternative?

What should the Global Recovery Round focus on?

1. Suggest the Russian for the following word combinations.

To lower trade barriers, cutting tariffs and red tape, WTO’s mantra, to boost trade, intensifying protectionism, multilateral deal, to achieve a bargain, faltering recovery, potential gains, to place priority on improving the access to the market.

2. Suggest the Russian for the following word combinations.

За счет кого-то, промышленные товары, подать жалобу, обрабатывающая промышленность, установить крайний срок, заключить сделку, либерализовать торговлю услугами, на долю которой приходится 20% мировой торговли.

Vocabulary practice

Exercise №1

Suggest – 1) предлагать, советовать; 2) предполагать, высказывать предположение; 3) означать, говорить, наводить (на мысль)

1. Policymakers confront a host of complex and interlocking challenges. Nothing that is now happening suggests they will be managed competently, let alone smoothly.

2. Figures released on April 2nd showed that annual gdp growth slowed to 5.2% in the fourth quarter of 2011, and initial evidence suggests a further deceleration this year.

3. With the world economy currently growing at 4.5%, that suggests the oil price would need to leap, probably above its 2008 peak of almost $150 a barrel, to fell the recovery.

4. Last week the central bank suggested it would ease monetary policy more cautiously than it had in recent months.

5. On the corporate side, trends in orders and shipments suggest that business investment in new equipment grew at a double-digit clip, even faster than in the second quarter.

6. There is evidence to suggest that despite some areas of weakness, the economy may still be on course to grow too quickly for comfort.

7. Friday’s report suggests that August’s rise in unemployment, the only increase this year, was an isolated event and that Europe’s second-largest economy is continuing to create jobs.

8. The IMF suggests that Italian GDP may rise by just 0.3% next year, down a full percentage point from the 1.3% it predicted in June.

Exercise №2

To offset – 1) компенсировать, возмещать; 2) сводить на нет, нейтрализовать.

1. Manufacturers remain upbeat about the year ahead and are looking to overseas demand to offset a slowdown in domestic orders.

2. "Weaker US demand is being offset by China and India and Asia in general," said Adrian Foster, of Dresdner Kleinwort in Singapore.

3. The attempt to stimulate supply-chain industries is in part a way to offset the damage of high exchange rates.

4. Recovery in the US economy and growing demand from China – South Korea’s two biggest export markets – has offset the continued sluggishness in domestic consumption

5. The adverse impact of a stronger dollar on exports has been partly offset by stronger global demand for commodities, especially from China.

6. Although China’s share has grown since early 1990s, this has been largely offset by the decline in Japan, whose share of output and exports has halved.

7. Manufacturing makes up about 17 per cent of the Canadian economy, and manufacturing strength has helped offset weakness caused by the global decline in commodity prices.

8. A burst of domestic spending more than offset the drag from the widening trade deficit.

Exercise №3

Pattern – 1) образец, пример; 2) путь, ход развития, динамика; 3) характерное развитие, характер,4) рисунок, форма, схема, шаблон, модель; 5) система; 6) формула.

1. Consumer spending follows a regular seasonal pattern.

2. The store has set the pattern for others in customer service.

3. Economic history shows that the economy never grows in a smooth and even pattern.

4. Please indicate the colours and patterns of textiles that can be delivered immediately from stock.

5. A new and extensive analysis shows a pattern of risky lending that could generate $20 billion in losses and harm thousands of the nation’s most vulnerable borrowers.

6. Forecasters say cold and snow are largely the result of a rare pressure pattern in and around the Arctic.

7. Earlier this year, as the economy began to sputter, Ben S. Bernanke, the chairman of the Federal Reserve, was asked about the historical evidence that recoveries from financial crises were always painfully slow. Mr. Bernanke responded that the pattern was clear but the reasons were not.

8. Germany’s economy is often more volatile than that of neighbours like France. Its specialization in investment goods, cars and other expensive consumer products makes the upswings higher but downturns sharper. That pattern may now be broken. As Europe slides, Germany is likely to sink less than the others.