Impact of trade restrictions

1. The 1980s have also been a time of complexity for economic policy makers in both developed and developing countries. Increasing unpredictability has been manifested in the unilateral adoption of trade restrictions specific to countries and products, and in the appearance of massive and often distorting flows of funds within and across international currency and commodity markets. Associated with these phenomena have been interrelated problems arising from currency misalignments, persistent payments in balances, an uneven distribution of international liquidity, and net outflows of financial resources from many developing countries.

2. Both policy-makers and entrepreneurs are being challenged by an acceleration in the pace of structural changes which are very difficult to harness. These changes can be traced to a number of underlying factors, the most important of which are the impact of scientific advance and applied technology, and government policy. These factors are affecting production, consumption and trail patterns; producing far reaching developments in the service sector, particularly financial services, and in commodity markets; significantly altering employment patterns; and leading to shifts in international competitiveness.

3. Many countries developed and developing alike, including the least developed countries are investing substantial efforts in adjusting their economies to these new realities in pursuit of their national objectives. They are also reappraising the respective roles of the public and private sectors in the economy. However, while some have made progress in recent years in reducing or eliminating growth retarding distortions and rigidities by enhancing the structural flexibility of their economies, much remains to be done.

Упражнение 2. Ответьте на вопросы.

1. What was the result of structural changes in the 1980s?

2. What factors were affecting production?

3. In what way were developed and developing countries trying to adjust their economies to new conditions?

4. What countries were reappraising their respective roles in the public and private sectors of the economy?

5. What were the main problems for economic policy makers in the 1980s?

Упражнение 3. Найдите в тексте слово funds и уточните его значение.

Упражнение 4. Вставьте подходящее по смыслу слово или словосочетание в предло-жения.

pace / consumption / objective / shift / the public sector

1. The role of ... in Russian economy is diminishing.

2. The ... of National development must be clearly formulated.

3. The ... of production growth is being discussed at the conference.

4. The ... of basic commodities is steadily increasing.

5. The recent years have seen ... to market economies in many countries.

Упражнение 5. Найдите в тексте однокоренные слова для следующих слов:

to develop, to restrict, investment, competitive, nation.

Упражнение 6. Найдите в тексте информацию о факторах, которые влияют на производство.

Упражнение 7. Озаглавьте каждый абзац текста. Составьте его план. Перескажите текст с опорой на план.

Упражнение 8. Составьте к тексту аннотацию.

TEXT 3

Упражнение 1. Прочитайте текст и приведите из него как можно больше инфор-мации на русском языке.