Lead-in

Discuss with a partner the following questions. Speak for two minutes.

· What are the features of a developing or Third World country?

· Which countries (the names) can be referred to as developing?

· Would you call yours a developing country? Why / Why not?

In groups agree or disagree with the statements below. Justify your viewpoints.

· Developing countries are poor because they are inefficient.

· Standards of living are slowly improving in third world countries.

· People in developing nations should not expect minimum living standards like those in the West.

· Governments of emerging nations should raise living standards, not pay back debts.

· All that will really help the poor people of developing world is revolution.

READING

Practice pronouncing the proper names below. Guess the nationality of people living in these countries.

Belize	The Philippines	Ghana	Rwanda
Bolivia	Sri Lanka	Cameron	Tanzania
Chile	Barbados	Guinea-Bissau	Peru
Jamaica	Brazil	Malaysia	Sao Paolo

In pairs make sure you understand the following terms from economics. Write down their explanations in English.

Budget deficit
Recession
Export earnings
Demand
Government expenditure
Trade balance
Subsidies
National resources
State-owned assets
To reschedule a debt