A means by which the advanced countries could prevent a fall in the real incomes of their unskilled

Labour occasioned by low-cost imports from the developing countries.

Vocabulary Notes to Text 4.7.1.1

Reliance — опора, зависимость

Excess capacity — избыточная возможность

The multiplier effect — эффект мультипликатора

A counter to dumping — противодействие демпингу

Contingent protection — защита от непредвиденных обстоятельств

A retaliatory measure — карательная (репрессивная) мера

To be occasioned by... — быть вызванным...

4.7.1.2.Read and translate the text “Dumping in International Trade and Antidumping Measures

Taken in Some Countries.” Make a synopsis in writing.

Dumping in International Trade and Antidumping Measures Taken in Some Countries

For the last ten-year period, the notion of “dumping” came into use, strictly meaning the sale

Of a commodity on a foreign market at a price below marginal cost. An exporting country may

Support the short-run losses of this policy in order to eliminate competition and thereby gain a

Monopoly in the foreign market. Alternatively, it may dump in order to dispose of temporary surpluses

in order to avoid a reduction in home prices and therefore producers’ incomes. The General

Agreement on Tariffs and Trade approves the imposition of special import duties (tariffs) to counteract