Reading russia and the world economic order

Russia has entered a new stage of economic development. It has mapped unprecedented plans for restructuring the economy and the mechanism of managing it. Important for this stage is the development of new forms of foreign economic activity, such as direct access for enterprises and organizations to the world market, joint ventures, broader direct links, industrial and economic cooperation. That’s why Russia wants international economic relations to be normalized and economic development made stable and predictable. The situation in the world economy remains complicated and contradictory. On the one hand the international division of labour continues to develop, enhancing economic interdependence of states. On the other hand the aggravation of many economic, trade and political problems hampers the development of international economic cooperation.

Practice shows that spontaneous development of international economic relations compounds and increases problems and contradictions. Falling oil prices, the deteriorating debt problem, rapid changes in the correlation of leading currencies, and sharp fluctuations at the world stock exchanges prove the world economy and national economies defenseless before upheavals. This harms economic interests of states, breeding uncertainty in tomorrow. Would an economic crisis in a major power trigger a chain reaction with unpredictable consequences?

That is why Russia suggests establishing a broad dialogue on economic issues of all interested parties and finding solutions to problems on the basis of concord, which would guarantee that these solutions are objective and fair. At this stage of world development, economic cooperation, like political or military- strategic cooperation, should be reformed on the basis of a new thinking, which is the ability to realistically assess this dynamic world. The Russian concept of economic security, on inalienable part of the comprehensive system of international security, is designed to establish on all-round international cooperation free from confrontation. Until we restore order in this sphere of international relations on principles acceptable to all, humanity would continue to be threatened by catastrophic crises and upheavals, which would inevitably affect all nations, however strong economically.

Comprehension Check

I. In the text find proofs for the following statement: Economic cooperation doesn’t always mean economic stability in the world.

II. Answer the following questions.

1. What king of economic plans did Russia map some years ago? At what are they directed?

2. Is the development of new forms of foreign activity important now? Why?

3. Which new forms of foreign activity do you know?

4. Why does the situation in the world economy remain complicated?

5. Which problems in the world economy are, in your opinion, the sharpest and the most difficult to solve?

6. On what basis does Russia suggest to solve sharp economic problems of the world?

7. What is the Russian concept of economic security designed to?

8. On what principles should the economic order be restored?

9. What can you say about today’s correlation of Russian and foreign leading currencies?

III. Complete the sentences.

1. Our country has entered … of economic development.

2. Russian businessmen want international relations to be …

3. The director of corporation … for restructuring the management.

4. The development of new forms of … is important for cooperation on the world market.

5. Economic problems … in tomorrow.

6. Economic cooperation should be reformed on the basis of …

7. A new thinking means the ability to …

8. All-round international cooperation must be …

IV. Translate into English.

1. Мировое сообщество вступило в новый этап экономического развития.

2. В этом году предприятие получило прямой доступ на мировой рынок.

3. Экономика развитых стран стабильна и предсказуема.

4. Международное разделение труда способствует усилению экономической взаимозависимости государств.

5. Все заинтересованные стороны начали широкий диалог по экономическим вопросам.

6. Умение реалистически оценивать динамичный мир лежит в основе успешного экономического развития стран.

7. Экологический кризис в одной из великих держав может вызвать цепную реакцию с непредсказуемыми последствиями.

8. Пока конфронтация присутствует в международном сотрудничестве, человечество находится под угрозой катастрофических кризисов и потрясений.

Word power

I. Give English equivalents for the following words and phrases from the text.

Намечать планы, механизм управления экономикой, совместное предприятие, проблема долга, порождать неопределенность, обострять проблемы, быть свободным от конфронтации, соотношение валют, препятствовать экономическому сотрудничеству, вызывать цепную реакцию, прямой выход на мировой рынок.