Reading Text a. What Is International Trade?

1.Read and translate using the dictionary.

When Honduras exports bananas to Switzerland, they can use the money they earn to import Swiss chocolate – or to pay for Kuwaiti oil or a vacation in Hawaii. The basic idea of international trade and investment is simple: each country produces goods or services that can be either consumed at home or exported to other countries.

The main difference between domestic trade and international trade is the use of foreign currencies to pay for the goods and services crossing international borders. Although global trade is often added up in U.S. dollars, the trading itself involved various currencies. Japanese videocassette recorders are paid for in German marks in Berlin, and German cars are paid for in U.S. dollars in Boston. Indian tea, Brazilian coffee, and American films are sold around the world in currencies as diverse as Turkish liras and Mexican pesos.

Whenever a country imports or exports goods and services, there is a resulting flow of funds: money returns to the exporting nation, and money flows out of the importing nation. Trade and investment is a two-way street, and with a minimum of trade barriers, international trade and investment usually makes everyone better off.

In an interlinked global economy, consumers are given the opportunity to buy the best products at the best prices. By opening up markets, a government allows its citizens to produce and export those things they are best at and to import the rest, choosing from whatever the world has to offer.

Some trade barriers will always exist as long as any two countries have different sets of laws. However, when a country decides to protect its economy by erecting artificial trade barriers, the result is often damaging to everyone, including those people whose barriers were meant to protect.

The Great Depression of the 1930s, for example, spread around the world when the United States decided to erect trade barriers to protect local producers. As other countries retaliated, trade plumered jobs were lost, and the world entered into a long period of economic decline.

2.Answer the questions.

1. What is the basic idea of international trade?

2. What is the main difference between domestic and international trade?

3. How can you consider trade barriers?

4. What is the difference between trade and investment?

5. What were the sequences of the Great depression of the 1930s?

3.Name the practical role of the trade cooperation.

Text b. Relations Between Ukraine and English-Speaking Countries.

1.Read and translate the text.

Ukraine has wide relations with English-speaking countries: Great Britain, the United States of America, Canada and others. Our relations with these countries are in policy, economics, science, culture, education and sport. Ukraine has diplomatic relations with all these countries. It means that they have ambassadors in Ukraine and we have Ukrainian diplomatic missions in these countries. We have some joint political projects.

In economics Ukraine collaborates with these countries too. There are many joint ventures where the partners are from different countries but not from one. Besides, the goods from these countries are sold in Ukraine and some products are sold in these countries.

Scientific co-operation is also very important because Ukrainian science is very good but it has not enough money for experiments. We have joint projects for space exploration with the USA and Canada. In future Ukraine will launch some space rockets from Canadian territory.

Cultural exchanges are very intensive too.

In education we have wide relations with these countries. We exchange students and teachers.

Besides, tourism is very popular.

I must say, that in the USA and Canada there are many people who are Ukrainians by origin. So we have special relations with them. There is a Ministry for Diaspora in Ukraine.

As we have wide and intensive relations with English-speaking countries English is one of the most popular foreign languages in Ukraine. It is taught in very many educational establishments and at our university too.

_____________________

to have wide relations мати широкі зв’язки

ambassador посольство

joint political project спільний політичний проект

to collaborate співробітничати

joint venture спільне підприємство

to launch запускати

2.Answer the questions.

1.Has Ukraine wide relations with English-speaking countries?

2.What are they?

3.What fields are our relations with these countries in?

4.What does “to have diplomatic relations with the country” mean?

5.What are the scientific and cultural projects between the countries?

3.Fill in the gaps with the words and word-combinations from the topical vocabulary.

1. Ukraine … with the English-speaking countries in policy, economics, science, culture, education and sport.

2. There are … of many countries in Ukraine.

3. Ukraine … not only with English-speaking countries but with many others from different continents of the world.

4. Will your name any … ?

5. There are many …where the partners are from different countries but not from one.

6. Achieving great successes in science a country tries … rockets.

7. … gives an opportunity to help the country in its development.

8. English is taught in schools and many other … .

4.Translate into English.

1.Широкі зв’язки з різними країнами дають можливість Україні стати розвинутою державою.

2.Іноземні посольства надають консультації громадянам про умови від’їзду в іншу країну.

3.Спільні політичні та економічні проекти допомагають країнам зблизитися.

4.Культурний обмін відкриває можливість людям пізнати світ іншого народу.

5.Спільні проекти в освіті сприяють розвитку науки.

5.What are the misunderstandings in the relations between Ukraine and other countries.

6.Speak on the relations of Ukraine with English-speaking countries.