Ex. 4. Translate the sentences into Russian and state which of them express es probability and which obligation.

Model: They must have signed a treaty – (probability)

Они, наверное, подписали договор.

You must attend this conference – (obligation)

Вы должны посетить эту конференцию.

1. International business must develop policies for dealing with exchange rate movements.

    2. Representatives of foreign business must be interested in information concerning Ukraine.

    3. The Ukrainian-American summit is to be held in Kyiv by the end of this month.

    4. The trade delegation from Canada must have arrived to Borispol airport an hour ago.

    5. Still more joint ventures and foreign businesses are likely to appear in Ukraine.

    6. They must be prepared for signing of the draft treaty.

    7. An international business must decide which foreign markets to enter and which to avoid.

    8. They’ll have to inform the representatives of the World Trade Organization (WTO) on the outcome of the Ukrainian-Swedish negotiations.

    9. During the 1920s and 30s many nations must have erected formidable barriers to international trade and investment.

 

Ex. 5. Translate the following sentences into English paying attention to the Modal verb ‘must’ and to its equivalents.

1. Международный бизнес должен рассматривать вопрос об ограничении страной международной торговли и инвестирования.

    2. Наверняка, конференция по международной торговле тянется с утра.

    3. Все граждане Украины должны придерживаться Конституции страны.

    4. Они, наверняка, уже решили вопрос вступления Украины в ВТО (Всемирная организация торговли).

    5. Международный бизнес должен решать вопрос конвертации и установления обменного курса валют.

    6. Наверное, представителей иностранного бизнеса интересует информация об Украине.

    7. Вашей группе придется составить экзамен по курсу «Международная экономика» в июне.

    8. Они, наверное, уже подготовили все необходимые документы к проведению семинара.

     9. Мы должны рассмотреть вопрос глобализации мировой экономики и узнать разницу между международным и отечественным бизнесом.

 

 

Text II. World Economy

The world economy is increasingly becoming a single economic unit. Individual national economies are developing closer linkages through trade, capital investment, and financial institutions. Multinational corporations spread their activities across national boundaries, and the international banking system carries on banking activities throughout the world.

During the last two decades, while world output has been growing about 4 % per year, world trade has been growing about 8% and production by foreign subsidiaries has been growing by some 10%. Export and import shares of output have increased considerably in practically all industrial sectors. A growing percentage of world trade is becoming intra-industry trade (reflecting economies of scale and increased demand for differentiated products) and even intra-firm trade by transnational firms (reflecting decomposition of production activities around the world).

The inter-enterprise international division of labour influences relations between the developed and developing countries primarily because the giant international companies transfer certain labour intensive production phases or whole production cycle to the developing countries where a cheap and sufficiently qualified (literate, easily teachable) labour force is already available.

The closer integration of developed countries steps up the further progress of the division of labour and facilitates its better organization. The major part of the world-wide demand for new machinery and equipment that accelerate industrial-technological development is met by industrially developed countries. International exports of armaments continue to be an important factor for increasing their export as well.

The weight of developing countries in world trade is gradually declining. In the seventies the newly independent states played an important role in the world economy and international politics. Their share in world production increased, and they were able to launch a campaign for a new international order. Almost all over the developing world foreign mining concessions were nationalized, raw material prices rose sharply, and the industrialized states became more heavily dependent for raw material supplies on the former colonies. But using their economic might and technological superiority, they have created and perfected new forms of enslavement: technological, food and financial. They have managed to integrate the developing countries’ economies yet more fully into the world capitalist economy and thus made them more vulnerable to market fluctuations. After the rise in the price of raw materials, develop resource-saving technologies and synthetic structural materials, recycle waste matter and extract its own minerals. This led to a reduction in the utilization of raw materials per unit of social product and diminished the West’s dependence on supplies of raw materials from Asia, Africa and Latin America.

Similar processes were observed in the petroleum sphere. The oil price slide is an integral part of the general strategy of the West, aimed at increasing the dependence of the developing countries and solving its own financial and economic problems at their expense. Buying raw materials from the developing countries, the industrially developed nations process them and then sell the goods manufactured back to the original suppliers for prices ten times higher than the materials cost.

 

Vocabulary notes

transnational corporation (TNC) – транснациональная корпорация

multination corporation ( MNC) – многонациональная  корпорация

linkage – связь (взаимозависимость развития отраслей экономики)

to develop linkages – развивать связи

subsidiary [ sə b’ sidjə ri] – дочерняя компания; филиал, контролируемый материнской фирмой с помощью пакета акций или других экономических рычагов

intra- industry trade – внутриотраслевая торговля

economies pl.зд. – экономия, бережливость

economies of scale – экономия, обусловленная ростом масштаба производства (возникающая при расширении объема экономической деятельности)

differentiated product – дифференцированные продукты

intra- firm trade – внутри фирменная торговля

decomposition of production activities – расчленение ранее единого процесса производства

inter- enterprise division of labour – внутрифирменное разделение труда

to transfer [ træ ns’ fə:] – 1. переносить, передавать; 2. переводить (деньги)

transfer [‘ træ nsfə:] – 1. перенесение, передача; 2. трансфер (т); безвозмездная социальная выплата (в системе национальных счетов); 3. перевод (денег), перечисление (сумм)

labour intensive production phase – трудоемкий этап производства

export [’ ekspo: t] – экспорт

to export [ eks’ po: t] – экспортировать

import [’ impo: t] – импорт

to import [im’po:t] – импортировать

concession – концессия

foreign mining concessions – иностранные концессии в добывающей промышленности

vulnerable ( to…) – уязвимый, незащищенный (от…)

market fluctuations – колебание цен на рынке

to economize on smth. – экономить на чем-либо

resource- saving technologies – ресурсосберегающие технологии

to recycle waste – перерабатывать отходы

social product – общественный продукт

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