step by step 2000 book 1 unit-10.doc

Unit 10 For Peace and DevelopmentPart I Warming upATapescript:1. In 1998, Chinese exports totaled US $183.76 billion. Its imports were worth US $140.17 billion, leaving a record trade surplus of US $43.6 billion and making China the largest exporter in the developing world.2. In terms of overall gross domestic product, China is now the Worlds seventh largest economy.3. Over the last 20 years, GDP has increased 16-fold and now stands above 6,000 yuan per person per year.4. Since 1980, annual growth has averaged 9.6%.5. Since the beginning of the 1990s China is second only to the U.S. in terms of foreign investment. Some US $40 billion of overseas capital flows into China every year.6. China has accumulated the worlds second largest stock of foreign exchange reserves after Japan, at US$151.51 billion.B.Tapescript:1. Delegates to the Asia Pacific Economic Cooperation Conference in Indonesia have agreed to a plan to create an unrestricted trade area during the next 25 years.2. Finance ministers from 18 Asian nations are considering proposals to pay for developing roads, airports and water supplies during the next 10 years. The ministers say they need many thousands of millions of dollars for such development.3. Leaders of East Asian countries have gathered for a meeting Sunday. They are expected to discuss expanding trade in the area.4. The World Bank and the International Monetary Fund have ended their talks in Washington with a promise to ease the debt of poor countries.5. OPEC oil ministers have decided to raise production quotas by as much as 7% to stabilize world oil prices.6. In other financial news, Chinas government says the countrys economy grew by 7. 1% in 1099. That was a slightly higher than Beijings target for the year. The countrys gross domestic product is reportedly about one trillion dollars for 1999.7. In Washington, the United States Labor Department has announced that the countrys unemployment rate has fallen to 5.3%. That is the lowest unemployment level since 1990. 8. Share prices on the New York stock market have closed higher as stock prices increased following the markets huge loss on Friday. The Dow Jones Industrial Average increased 276 points or 2.7%.CTapescript: The United States has formally transferred the Panama Canal to Panama. Thousands of flag-waving Panamanians cheered the hoisting of Panamas flag over the Canal Commission headquarters, ending nearly a century of U.S. control.Part II Tim Panama Canal handoverA. Tapescript: During the first half of the 19th century much thought 0cas given to building the Panama Canal. The discovery of gold in California in 1848 brought an increased demand for a transportation link across Panama. A railroad line was completed after 6 years of hard labor in the swamps and jungles. Over 2,000 workmen died from yellow fever and malaria. For 11 years workmen struggled against heat and disease. The canal cuts thousands of miles off sea journeys between the Atlantic and Pacific Oceans, raising ships from one ocean and depositing them in the other through a system of water locks and a man-made lake. Some 14,000 ships pass through the canal every year, and pay $540 million in tolls. The canal remains one of the engineering marvels of the world. It played a critical role in the development of global commerce. This month the United States relinquished control of the Panama Canal. Panamanian President and former U.S. President Jimmy Carter signed a document turning over the canal and the land surrounding it to Panama.It was in 1977, during Mr. Carters administration, that the U.S and Panama made the initial agreement, the canal comes under Panamanians control December 31.B. Summary: Panama taking ownership of Panama CanalDetails: a. Panama takes the ownership from the U.S. at noon Friday, ending more than 90 years of U.S. control of the waterway.b. Panamanians are planning celebrations to mark the event.Tapescript: And Panama takes the ownership of the Panama Canal from the United States at noon Friday, ending more than 90 years of U.S. control of the waterway. Panamanians are planning the day of celebrations to mark the event, which coincides with New Years Eve festivities. United States late Thursday lowered its flag over the Panama Canal for the last time with the brief ceremony attended by the Panamanian President.Part III Financial newsA.Summary: An IMF officials analysis of world economy Details: a. The economy of the world is very good.b. The improving economy in Asia is especially good. c. Economic conditions are improving in South America, especially in Brazil.Tapescript:Financial news A top official with the International Monetary Fund says the economy of the world is very good. Stanley Fisher is the deputy director of the IMF. He says the improving economy in Asia is especially good. Mr. Fisher also says Indonesia is showing signs of growth, and he says economic conditions are improving in South America, especially in Brazil.B.Column A Column B1. world economy a. showing signs of growth2. Asias economy b. in an improved situation3. South Koreas economy c. making an extraordinary turn around from its financial crisis4. Indonesia 5. Brazil d. the hardest hit country6. Russias economy e. growing at a 7% annual rate7. important objective of economic policy makersin the New Year f. remarkable rebound from the near economic collapse g. basically in good shape h. global free trade negotiations1-g 2-f 3-_e 4-a & d5-c 6-b 7-hTapescript: The deputy chief of the International Monetary Fund Stanley Fisher says the world economy is basically in good shape, particularly when compared with the several financial crises of the past two years. Mr. Fisher says Asias rebound from the near economic collapse in the late 1997 has been remarkable. Speaking to reporters, Mr. Fisher says even Indonesia, the hardest hit co