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Belgium is a small country of about 31,000 square kilometres³ and with

a population of about 10 million, or about 300 persons per square kilometre. The Belgians can maintain a relatively high level of living but they should produce at home as large quantities of foodstuffs and other necessities as possible. They have to buy raw materials and sell their products in the world market. The obtained profits are to be used to import additional foodstuffs and other necessities of life that the Belgians must use to maintain their level of living.

Thus⁴, the Belgians have to turn to⁵ world markets for three reasons: 1) they have to buy raw materials; 2) they must sell the manufactured goods; 3) they have to buy additional quantities of the necessities of life. The Belgians greatly depend on world markets, so they should welcome⁶ any international action that can ensure the stability of prices in world markets.

Japan is known as another small nation with big population, which was able to overtake such industrialized country as the USA in some fields of economy. Traditionally the country has to produce some manufactured goods for export in order to import additional foodstuffs. The main items of Japanese export are high-tech products such as computers and computer programmers, modern automobiles, high-quality machinery and equipment, reliable household appliances, etc. Nowadays Japan has become one of the largest contributors of long-term capital to developing countries.

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II.Вiдповiсти на запитання за змiстом тексту.

1. What do you know about Belgium?

2. How can the Belgians maintain a relatively high level of living?

3. Why is trade so important for Belgium?

4. What has the country to produce for export in order to import additional foodstuffs?

5. What are the main items of Japanese export?

БІЛЕТ № 13

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GLOBALIZATION OF WORLD ECONOMY

Globalization is understood as increasing internationa­lization of ideas, science, communication and technology that must be distinguished from economic globalization. Economic globalization means the process of integration of markets, great changes in trade and finance and the establishment of the global eco­nomy.

The main aim of economic globalization is to change the world into one dynamic market which has uniform characteristics in different countries. Globalization should lead to a free mobility of capital as well as to privatization of the economy and a sharp reduction in government budgets. Besides, globalization means wide advertising of new consumer products all over the world, low taxes for producers both domestic and foreign and similar life-styles for people of different nationalities.

First steps towards globalization in Europe were made by the establishment of the Common Market in 1993 and the introduction of the "euro" as the new single currency for Europe on January 1, 1999. Since that time the euro has been used in foreign trade transactions by the countries which joined the euro-zone². Euro banknotes were introduced in circulation in 12 member-countries of the European Union on January 1, 2002.Some countries of Central and Eastern Europe have recently joined the European Union, while others are planning to do it in the near future.

II.Вiдповiсти на запитання за змiстом тексту.

1. What does globalization mean?

2. What are the main characteristics of ‘economic globalization’?

3. What are the aims of economic globalization?

4. What are the main steps of globalization in Europe?

5. What is the euro?

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