Exercise №9

1. That is a dramatic change since 2000, when the emerging economies imported barely half as much as rich countries did.

2. Jeoff Hall, an economist at Thomson Financial, said: " Given the high level of export orders, we were surprised to see such a rapid deterioration in business conditions recently."

3. For one thing, the airborne share of trade is declining as the efficiency of seaborne trade grows.

4. The cargoes that fill the ships at America’s ports reflect changes in the US consumption patterns (eg. fewer oil imports as domestic production increases).

5. Pascal Lamy, head of the WTO, has suggested that Africa could be China’s biggest trade partner within three to five years.

6. The big three US carmakers all posted domestic sales gains in December.

7. The inventory buildup suggests that third-quarter GDP was somewhat higher than the government’s initial estimate of 4.8%.

8. As the nation’s record-long economic expansion slows after five years of go-go exuberance, company after company is finding it has more production capacity than it needs.

9. China’s economy continued its brisk expansion in the third quarter of the year, as vibrant exports and more government spending helped offset weakness in other areas.

10. Now the worry is another slowdown, given that the average gasoline price hit a record $2,28 per gallon in the week ended April 11.

11. In all, policymakers confront a host of complex and interlocking challenges: fiscal and monetary normalization in advanced countries; managing the overheating in emerging economies; adjusting to big shifts in relative prices; and rebalancing the entire pattern of global demand.

12. Fiat looks like Europe’s most challenged bi carmaker this year, barring perhaps only Peugeot Citroёn.

13. The pattern of developed-country deficit and emerging-market surpluses is likely to continue.

14. The privileges of reserve-currency status were not confined to the dollar, though it enjoyed the lion’s share.

15. The ECB’s refusal to cut interest rates was odd, since the economies of the euro are not immune to the sharp slowdown in America.