Валютная устойчивость — stability of currency (currency stability)

Противоречия глобализации — contradictions of globalization

Беспрепятственное действие — free (unimpeded) operation

Право собственности — right of property (of ownership, of possession), property (ownership,

Proprietary) right, proprietorship, title of ownership

Oral Practice. Round Table

Hold a business talk.

We have examined the structure of a nation’s balance of payments. Economists and political

Figures often speak of balance of payments deficits and surpluses. They have in mind the balances

On the current account and capital account. In our penal discussion it is interesting to hear your

reasoning of the following:

1. In what way do industrial nations (countries) attain an active balance of payments?

Is it correct to consider a trade deficit equally undesirable for both developing and industrial

nations?

3. Why has the United States been having the balance of trade deficit since 1971? Is it due to an

agressive international competition (European countries, Japan, South Korea and other nations)?

How would you substantiate the official growth of gold and foreign exchange reserves in the

Central bank of Russia in 2001-2002?

Written Practice

Summarize the unit in a paragraph of about 300—350 words.

Мировая экономика

Part IV