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Учебно-методическое пособие по английскому языку
1. Why Trade?
1a. Discussion
1. Consider the clothes and shoes you are wearing. Where were they
2. Try to recall the meals you’ve eaten in the last 24 hours. How much
of the food came from abroad?
3. If you have them, where do your car, television, stereo, camera, computer, mobile phone, and so on come from? Where was the last DVD or
CD you bought manufactured?
4. Can you imagine living in a country that did not import anything,
where only locally produced food and textiles and products were available?
5. Benjamin Franklin once said: “No nation was ever ruined by trade.” Do
you agree with him?
The following word combinations might help you to express your thoughts.
I think, I consider, I suppose, in my opinion, to my mind; as I see it, the point
is, my way of understanding is, as far as I know; on the one hand, on the other hand; I (dis)agree, I am pretty sure; to begin with, first of all, then, next,
after, finally.
To be vital to the health of a nation, to be linked in various ways, to pull the
industrial nations of the world together, to live in “one world”, to affect the
economy, to be important to a nation’s well-being, to have an isolated economy, to be locked together in an economic union, to be immune from foreign influences, international linkage, to understand the most important economic developments of our time.
1b. Vocabulary
Match up these words with the definitions below.
to impose to trade to satisfy to acquire to lack
to utilize
to compete
to survive
1. to take part in or do something
2. to exist after something bad happens
3. to make use of something
4. to buy, sell, or exchange goods or services
5. to please someone by giving them what they want or need
to engage in
6. to obtain or to begin to have something
7. to do an activity with others and try to do better than they do
8. not to have any or enough of something
9. to establish or apply as compulsory
1c. Reading
Read the text and answer the following questions.
1. What makes two countries trade with each other?
2. Why is it not reasonable for a small country to try to make all possible
The earth’s resources are not equally distributed across the planet. While
the United States can satisfy its own requirements for such goods as coal
and sugar, it is almost entirely dependent on the rest of the world for
other products, such as rubber and coffee. Similarly, Saudi Arabia has
little land that is suitable for farming, but sits atop a huge pool of oil.
Because of the seemingly whimsical distribution of vital resources, every nation must trade with others to acquire what it lacks.
Even if countries had all the resources they needed, other differences in
natural endowments — such as climate, terrain, and so on — would lead
them to engage in trade. Americans could, with great difficulty, grow
their own banana trees and coffee shrubs in hothouses. But these crops
are much more efficiently grown in Honduras and Brazil, where the climate is appropriate. On the other hand, wheat grows well in the United
States while mountainous Switzerland is not a good place to grow either
bananas or wheat.
The skills of a nation’s labour force also play a role. If New Zealand has
a large group of efficient farmers and few workers with industrial experience while the opposite is true in Japan, it makes sense for New Zealand to specialize in agriculture and let Japan concentrate on manufacturing.
Finally, a small country that tried to produce every product would end
up with many industries too small to utilize mass-production techniques,
specialized training facilities, and other methods that confer cost advantages on large-scale operations. For example, some countries operate
their own international airlines or steel mills for reasons that can only be
political, not economic. Inevitably, small nations that insist on competing in industries that are economical only when their scale of operation
is large find that these enterprises can survive only with the aid of large
government subsidies.
1d. Comprehension
According to the text, are the following statements TRUE or
FALSE? If they are false, say why.
1. Natural resources are the same in any part of our planet.
2. No country is an interdependent world economy.
3. Saudi Arabia is very rich in oil.
4. Every nation has to buy and sell or exchange goods with other nations
to get the resources it needs.
5. America has suitable climatic conditions for cultivating banana trees
and coffee shrubs.
6. Wheat is efficiently grown in any country.
7. Whether a country concentrates on manufacturing or agriculture depends on its labour force professional experience.
2. International Trade versus Domestic Trade
2a. Vocabulary
Match up these words and expressions with the definitions below.
welfare impediment currency rate of exchange cost quota
restriction share ownership expropriation
1. the rate at which the money of one country can be changed for the
money of another country
2. the state of having good health, comfortable living and working conditions
3. an official rule that limits what you can do or that limits the amount
or size of something
4. the right or state of being an owner
5. something which is given, needed, or lost in order to obtain something
6. a limited number or quantity of something which is officially allowed
7. something that makes movement or development difficult
8. taking away (something owned by another) for public use
9. one of the parts into which something has been divided
10. the money in use in a particular country
2b. Reading
Read the text and decide which paragraphs could be given the following headings.
… The many currencies involved in international trade
… Impediments to mobility of capital
… Political factors in international trade
… Impediments to mobility of labour
The logic of international trade is essentially no different from that underlying trade among different states in the USA, for example; the basic
reasons for trade are equally applicable within a country or among countries. What, then, makes foreign trade different from domestic trade?
There are at least four reasons.
A First, domestic trade takes place under a single national government,
while foreign trade always involves at least two governments. At least in
theory, a nation’s government is concerned with the welfare of all its citizens. But governments are usually much less deeply concerned with the
welfare of citizens of other countries. For example, the Constitution of
the United States prohibits overt tariffs and other impediments to trade
among states but does not prohibit the United States from imposing tariffs on imports from abroad.
B Second, all trade within the borders of the United States, for example,
is carried out in U.S. dollars. But trade across national borders must involve at least two currencies. Rates of exchange between different currencies can and do change. Forty years ago the British pound was worth
more than $4; now it is worth about $1.70. Variability in exchange rates
brings with it a host of complications and policy problems.
C Third, it is much easier for labour to move about within a country than
to move from one country to another. If there are jobs in California but
none in Louisiana, workers can move freely to follow the job opportunities. Of course, there are personal costs: not only the dollar cost of moving, but also the psychological cost of leaving friends and familiar surroundings. But such relocations are not inhibited by immigration quotas,
by laws restricting the employment of foreigners, or by the need to learn
a new language, as are moves from one country to another.
D And finally, there are also greater obstacles to the transfer of capital
from one country to another than to its movement within a country.
Shipping plants and equipment between countries can be expensive, and
the international movement of funds to be invested in foreign firms is
likely to encounter many restrictions. For example, many countries have
rules limiting the share of foreign ownership in a company. Foreign investment is also subject to special political risks, such as the danger of
outright expropriation after a change in government. But even if nothing
so extreme occurs, capital invested abroad faces significant risks from
variations in exchange rates.
2c. Comprehension
According to the text, are the following statements TRUE or
FALSE? If they are false, say why.
1. Trade within a country is less restricted by a nation’s government.
2. In foreign trade governments do take much care of citizens of other
3. In foreign trade countries face great difficulties due to their national
currency fluctuations.
4. Relocations within a country are as painful and costly as movement
from one country to another.
5. There are no restrictions on the employment of foreigners.
6. Foreign investments might be risky.
3. Mutual Gains from Trade
3a. Vocabulary
Match up these words and expressions with the definitions below.
at the expense of to gain consequence to lose to beggar voluntary
to promote
transaction to increase to swap
1. to fail to succeed
2. to encourage or support something
3. done in a way that harms someone
4. to exchange one thing for another
5. to make somebody very poor
6. a result of an action or situation
7. to get some advantage or benefit from something
8. a piece of business or other activity that is carried out by two or more
people negotiating about it
9. done willingly
10. to become larger in amount
3b. Reading
Read the text and answer the following questions.
1. What did the mistaken opinion of the early writers on foreign trade
lead to?
2. How can a voluntary exchange make trading partners wealthier?
Many people believe that a nation can gain from trade only at the expense of the other. Centuries ago, the early writers on international trade
pointed out that, since nothing is produced by the act of trading, the total
collection of goods in the hands of the two parties at the end of the exchange is the same as before the trade. Therefore, they incorrectly argued, if one country gains from a swap, the other country must necessarily lose.
One of the consequences of this mistaken view was and is a policy prescription calling for each country to do its best to act to the disadvantage
of its trading partners to “beggar its neighbors”. The idea that one nation’s gain must be another’s loss means that a country can promote its
own welfare only by harming others.
Yet, in any voluntary exchange both parties must gain (or at least expect
to gain) something from the transaction. Otherwise why would they
agree to the exchange?
But how can a mere exchange, in which no production takes place, leave
both parties better off? The answer is that while trade does not increase
the physical quantities of the goods available, it does allow each party to
acquire items better suited to their needs and tastes. Suppose Scott has
four cookies and nothing to drink, while William has two glasses of milk
and nothing to eat. A trade of two of Scott’s cookies for one of Wil-
liam’s glasses of milk does not increase the total supply of either milk or
cookies, but it almost certainly improves the welfare of both boys.
By exactly the same logic, both Canada and the United States must be
better off if Canada voluntarily ships timber to the United States in return for chemicals.
3c. Comprehension
According to the text, are the following statements TRUE or
FALSE? If they are false, say why.
1. Foreign trade has been the topical question for hundreds of years.
2. They used to think that swapping could be advantageous to both parties.
3. A voluntary exchange implies free choice and willingness from both
4. Trade makes it possible to obtain the goods a country lacks.
5. If two countries swap goods, it makes living and working conditions
less comfortable for people.
4. Protectionism and Free Trade
4a. Vocabulary
Match up these words and expressions with the definitions below.
living standard
1. imposing trade barriers in order to restrict imports
2. the level of wealth and comfort people have in a particular society
3. selling goods abroad at (or below) cost price
4. taxes charged on imports
5. quantitative limits on the import of particular products or commodities
6. money that is earned from doing work or received from investment
7. money that a company, organization or government receives from
4b. Reading
Read the text and answer the following questions.
1. Why do most economists oppose protectionism?
2. Why do most governments impose import tariffs and /or quotas?
The majority of economists believe in the comparative cost principle,
which proposes that all nations will raise their living standards and real
income if they specialize in the production of those goods and services
in which they have the highest relative productivity. Nations may have
an absolute or comparative advantage in producing goods or services
because of factors of production, climate, division of labour, economies
of scale, and so forth.
This theory explains why there is international trade between North and
South, e.g. semiconductors going from the USA to Brazil, and coffee
going in the opposite direction. But it does not explain the fact that over
75 % of the exports of the advanced industrial countries go to other
similar advanced nations, with similar resources, wage rates, and levels
of technology, education, and capital. It is more a historical accident
than a result of natural resources that the US leads in building aircraft,
semiconductors, computers and software, while Germany makes luxury
automobiles, machine tools and cameras.
However the economists who recommend free trade do not face elections every four or five years. Democratic governments do, which often
encourages them to impose tariffs and quotas in order to protect what
they see as strategic industries — notably agriculture without which the
country would be in danger if there was a war, as well as other jobs.
Abandoning all sectors in which a country does not have a comparative
advantage is likely to lead to structural unemployment in the short (and
sometimes medium and long) term.
Other reasons for imposing tariffs include the following: to make imports more expensive than home-produced substitutes; as a protection
against dumping (the selling of goods abroad at below cost price in order
to destroy or weaken competitors or to earn foreign currency to pay for
necessary imports); to retaliate against restrictions imposed by other
countries; to protect “infant industries” until they are large enough to
achieve economies of scale and strong enough to compete internationally.
With tariffs, it is impossible to know the quantity that will be imported,
because prices might be elastic. With quotas, governments can set a limit to imports. Yet unlike tariffs, quotas provide no revenue for the government. Other non-tariff barriers that some countries use include socalled safety norms, and the deliberate creation of customs difficulties
and delays.
The General Agreement of Tariffs and Trade (GATT), an international
organization set up in 1947, had the objective of encouraging international trade, of making tariffs the only form of protectionism, and of reducing these as much as possible. The most favoured nation clause of
the GATT agreement specified that countries could not have favoured
trading partners, but had to grant equally favourable conditions to all
trading partners. The final GATT agreement –including services, copyright, and investment, as well as trade in goods — was signed in Marrakech in 1994, and the organization was superseded by the World Trade
4c. Comprehension
Write questions, relating to the text, to which these could be the answers.
1. Factors of production, most importantly raw materials, but also labour
and capital, climate, economies of scale, and so on.
2. Because it doesn’t explain why the majority of the exports of advanced industrialized countries go to other very similar countries.
3. A recently developed one, that has not yet grown to the point where it
benefits from economies of scale, and can be internationally competitive.
4. Unlike quotas, they produce revenue.
5. Unlike tariffs, you know the maximum quantity of goods that will be
5. World Trade Organisation
Use the Fact File to make your presentation of the WTO.
The World Trade Organization (WTO) is the only global international
organization dealing with the rules of trade between nations. At its
heart are the WTO agreements, negotiated and signed by the bulk of
the world’s trading nations and ratified in their parliaments. The goal is
to help producers of goods and services, exporters, and importers conduct their business.
Location: Geneva, Switzerland
Established: 1 January 1995
Created by: Uruguay Round negotiations (1986-94)
Membership: 151 countries (for 2007)
Budget: 175 million Swiss francs for 2007
Secretariat staff: 635
Head: Pascal Lamy (Director-General from 2005)
Administering WTO trade agreements
Forum for trade negotiations
Handling trade disputes
Monitoring national trade policies
Technical assistance and training for developing countries
Cooperation with other international organizations
Albania • Angola • Antigua and Barbuda • Argentina • Armenia • Australia • Bahrain, Kingdom of • Bangladesh • Barbados • Belize • Benin •
Bolivia • Botswana • Brazil • Brunei Darussalam • Burkina Faso • Burundi • Cambodia • Cameroon • Canada • Central African Republic •
Chad • Chile • China • Colombia • Congo • Costa Rica • Cote d’Ivoire •
Croatia • Cuba • Democratic Republic of the Congo • Djibouti • Dominica • Dominican Republic • Ecuador • Egypt • El Salvador • European Communities • Fiji • For11
mer Yugoslav Republic of Macedonia (FYROM) • Gabon •
The Gambia • Georgia • Ghana • Grenada • Guatemala • Guinea • Guinea Bissau • Guyana • Haiti • Honduras • Hong Kong, China • Iceland •
India • Indonesia • Israel • Jamaica • Japan • Jordan • Kenya • Korea, Republic of • Kuwait • Kyrgyz Republic • Lesotho • Liechtenstein •
Macao, China • Madagascar • Malawi • Malaysia • Maldives • Mali •
Mauritania • Mauritius • Mexico • Moldova • Mongolia • Morocco •
Mozambique • Myanmar • Namibia • Nepal • New Zealand • Nicaragua • Niger • Nigeria • Norway • Oman • Pakistan • Panama • Papua New Guinea • Paraguay • Peru • Philippines • Qatar • Rwanda •
Saint Kitts and Nevis • Saint Lucia • Saint Vincent & the Grenadines •
Saudi Arabia • Senegal • Sierra Leone • Singapore • Solomon Islands •
South Africa • Sri Lanka • Suriname • Swaziland • Switzerland • Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu • Tanzania • Thailand • Togo • Tonga • Trinidad and Tobago • Tunisia • Turkey • Uganda • United Arab Emirates • United States of America • Uruguay • Venezuela (Bolivarian Republic of) • Vietnam • Zambia • Zimbabwe
All twenty-seven member states of the European Union are also members of the WTO:
Austria • Belgium • Bulgaria • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Hungary • Ireland • Italy •
Latvia • Lithuania • Luxembourg • Malta • Netherlands • Poland • Portugal • Romania • Slovakia • Slovenia • Spain • Sweden • United Kingdom
The General Council paved the way for Ukraine’s membership in the
WTO by approving its accession terms. Ukraine will have to ratify the
deal by 4 July 2008 and would become a WTO member 30 days after
the ratification.
The Director-General of the World Trade Organization is responsible for supervising the administrative functions of the WTO. Because
World Trade Organizations’ decisions are made by member states
(through either a Ministerial Conference or through the General Council), the Director-General has little power over matters of policy — the
role is primarily advisory and managerial. WTO Director-General is appointed by WTO members for a term of four year.The current DirectorGeneral (since September 2005) is Pascal Lamy of France.
Past Directors-General (GATT, WTO)
This is a list of former holders of the office of director-general.
Took office
Left office
1. Eric Wyndham White
23 March 1965
6 May 1968
United Kingdom
2. Olivier Long
6 May 1968
1 October 1980
3. Arthur Dunkel
1 October 1980
1 July 1993
4. Peter Sutherland
1 July 1993
1 May 1995
5. Renato Ruggiero
1 May 1995
1 September 1999 Italy
6. Mike Moore
1 September 1999 1 September 2002 New Zealand
7. Supachai Panitchpakdi 1 September 2002 1 September 2005 Thailand
8. Pascal Lamy
1 September 2005 —
It helps trade to flow smoothly.
The rules are not fair.
It deals with disputes over trade.
The rules are too complex. Poorer
countries cannot afford to pay
specialists, lawyers and other
support staff to help them.
Decisions in the WTO are made by
consensus and the agreements apply
to everyone.
The WTO has too much power
compared with other international
organizations. The decisions that
it makes take precedence over
agreements on the environment
and international law, for example.
All countries can appeal against decisions which they feel are unfair.
This system has the potential to protect developing countries from harsh
measures and unfair rules.
For extra information use the following sites:
6. Free Trade’s Best Friend
6a. Vocabulary
Match up these words with the definitions below.
negotiations sovereignty panel consensus veto summit
1. a general or widespread agreement
2. a meeting of chiefs of governments or other high officials
3. the right that someone in authority has to forbid something
4. supreme and unrestricted power
5. a group of persons selected to work as a team
6. discussions that take place between people with different interests, in
which they try to reach an agreement
6b. Reading
Read the following text and then answer the questions.
1. What is the fundamental idea of multilateral trade?
2. How do the members of the trade body violate this principle?
The WTO is worth boosting.
For anti-globalisation activists, the World Trade Organisation (WTO)
embodies the global economic integration they abhor. For insular lawmakers, notably in Washington, DC, the Geneva-based institution is a
secretive, unelected bureaucracy that infringes national sovereignty.
Even advocates of free trade have their doubts about the WTO’s usefulness.
All these doubters would do well to read a new report on the future of
the WTO by eight "wise men" led by Peter Sutherland, the trade body’s
first director-general. The report not only offers the rousing defence of
multilateral trade liberalisation you might expect, but also makes practical suggestions about how the WTO could work better.
Mr Sutherland’s group criticises the recent fashion for bilateral and regional trade agreements. The panel is right to be sceptical because such
agreements undermine the most basic principle of multilateral trade and
of the WTO: non-discrimination. Members of the trade body are supposed to extend to all other members their most favourable trade terms
— the lowest tariffs and so forth. By giving preferential access to some
countries, bilateral and regional deals make a mockery of this. The report says that non-discrimination has become the exception not the
rule. To counter the trend, the wise men urge rich countries to set a date
by which all their tariffs would be cut to zero.
Multilateral negotiations would surely be more popular if they could be
shown to work. But the WTO operates by consensus, in effect giving
each of its members a veto. The report suggests that any country blocking a measure that otherwise has broad support should have to declare,
in writing, that the matter was of “vital national interest”.
Successful negotiations, argue the wise men, also depend on greater political commitment. They believe that an annual WTO ministerial meeting, a trade summit with heads of state every five years and more frequent visits to Geneva by national politicians would help. Well, it
might. But it is unlikely to be enough.
6c. Vocabulary
Find words in the text that mean the same as the words below.
1. encouraging
6. to spoil
2. to express
7. sneer
3. to hate
8. to oppose
4. illiberal
9. essential
5. to violate
10. devotion
6d. Comprehension
According to the text, are the following statements TRUE or
FALSE? If they are false, say why.
1. There is no question of the usefulness of the WTO.
2. Peter Sutherland’s report gives advice how to improve the WTO’s
3. The eight “wise men” approve bilateral trade decisions.
4. The WTO agreements are negotiated and signed by all world’s trading
5. Bilateral agreements have some undesirable side-effects.
6. Favourable tariffs are to relate to all members of the WTO.
7. Only weighty reasons can block widely approved measures.
8. The “wise men” suggest more active participation of national politicians for the WTO’s better efficient functioning.
1. Use the words in the box to complete the sentences below.
satisfy acquire welfare exchange rates gain dumping increase
living standards
engage in
1. Every nation must trade with others to … what it lacks.
2. Many people believe that a nation can … from trade only at the expense of the other.
3. The United States can … its own requirements for such goods as coal
and sugar.
4. In any voluntary exchange both parties must gain something from the … .
5. Governments are usually much less concerned with the ….. of citizens
of other countries.
6. Unlike tariffs, … provide no revenue for the government.
7. Differences in natural endowments make countries … trade.
8. The comparative cost principal proposes that all nations will raise
their … if they specialize in the production of those goods in which they
have the highest relative productivity.
9. Variability in … brings with it a host of complications.
10. The WTO operates by … , in effect giving each of its members a
11. The international movement of funds to be invested in foreign firms
is likely to encounter many … .
12. While trade does not … the physical quantities of the goods available, it allows each party to acquire items better suited to their needs.
13. For insular lawmakers the WTO is an unelected bureaucracy that
infringes national … .
14. The Constitution of the United States does not prohibit the United
States from imposing … on imports from abroad.
15. The selling of goods abroad at below cost price in order to destroy or
weaken competitors is called … .
2. Write synonyms for the following words:
to contend, a meeting, to oppose, free (free-will), to encourage, to hate,
an obstacle, to use, essential, to exchange, a ban, a committee, aftereffects, to levy, to violate.
3. Translate the following word combinations from English into
infant industries, to infringe national sovereignty, vital resources, multilateral negotiations, advanced industrial countries, the comparative cost
principle, the highest relative productivity, an absolute or a comparative
advantage, to undermine the basic principle of multilateral trade, to depend on political commitment.
4. Translate the following word combinations from Russian into
удовлетворять потребности, выживать с помощью государственных
дотаций, налагать тарифы, повышать личный доход, сталкиваться с
ограничениями, способствовать росту благосостояния, получать
выгоду от сделки, изменения в курсах валют, использовать технологии массового производства, разорять конкурентов, обеспечивать
годовой доход.
5. Complete the following sentences.
1. Nations trade with each other to … .
2. It is not reasonable for a small country to produce every product because … .
3. In foreign trade countries face greater difficulties than in domestic
trade due to … .
4. Mere voluntary exchange can leave both parties better off because … .
5. The comparative cost principle proposes that … .
6. Governments impose tariffs and quotas in order to … .
7. The most basic principle of multilateral trade and of the WTO … .
1. Baumol W.J., Blinder A.S. Economics. Principles and Policies. Harcourt Brace
Jovanovich Publishers, 1991.
2. MacKenzie I. English for Business Studies. Cambridge University Press, 2002.
3. The Economist. Free trade’s best friend. The Economist Newspaper Limited.
Vol. 374, №8410, 2005.
4. Cambridge Dictionary of American English. Cambridge University Press, 2000.
5. Collins Concise Dictionary. Harper Collins Publisher, 2000.
6. Collins English Dictionary. Harper Collins Publisher, 2000.
7. Essential English Dictionary. William Collins Sons &Co Ltd, 1989.
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