Vocabulary Notes to Text 3.7.1.1

1. direct government intervention — прямое правительственное вмешательство (интервенция)

2. export subsidies — экспортные стимулы (побудительные мотивы)

3. to commit — финансировать, вкладывать капитал

4. to obtain surpluses — получать избытки...

5. laissez-faire — политика невмешательства государства в экономику (свободная

конкуренция)

6. the “invisible” — невидимая рука

7. regardless of — независимо от...

3.7.1.2. Read the text Highlights: Major Trade Developments in 2004: Assess the changes for

Years (1994-2004). Make your short-term and long-term forecasts and discuss them with your

Partner.

Highlights: major trade developments in 2004

A surprisingly strong global economy boosted real world merchandise trade growth in 2004,

despite record high crude oil prices. The rate of trade expansion was close to 10% at mid-year, but

Table 3.1. World trade and output developments, 2001-04

(At constant prices, annual percentage change)

2001 2002 2003 2004

Merchandise exports -0.5 3.5 5.0 9.1

Merchandise productions -0.7 0.8 2.8...

GDP at market exchange rates 1.4 1.8 2.6 4.0

GDP at PPP 2.4 3.0 3.9 5.0

Source: WTO, IMF, World Economic Outlook

Chart 3.1. Growth in the volume of world merchandise trade and GDP, 1994-04

(Annual percentage change)

Source: WTO

З.7.1.З. a) Read and translate the text “The United Nations Measures on the Intensification

of Trade among Developing Countries.”

The United Notions Measures on the Intensification o f Trade among Developing