The economy of Africa

South America

South America is a continent of the Americas, situated entirely in the Western Hemisphere and mostly in the Southern Hemisphere. It is bordered on the west by the Pacific Ocean and on the north and east by the Atlantic Ocean; North America and the Caribbean Sea lie to the northwest.

South America has an area of 17,840,000 square kilometres (6,890,000 sq miles), or almost 3.5% of the Earth's surface. Its population was estimated at more than 371,000,000. South America ranks fourth in area (after Asia, Africa, and North America) and fifth in population (after Asia, Africa, Europe, and North America).

South America's major natural resources are gold, silver, copper, iron ore, tin, and oil. The many resources of South America have brought high income to its countries especially in times of war or of rapid economic growth by industrialized countries elsewhere. However, the inevitable fluctuation in the price of commodities in the international markets has led historically to major highs and lows in the economies of South American states, often also causing extreme political instability. This is leading to efforts to diversify their production to drive them away from staying as economies dedicated to one major export.

Beginning in the 1530s, the people and natural resources of South America were repeatedly exploited by foreign conquistadors, first from Spain and later from Portugal. These competing colonial nations claimed the land and resources as their own and divided it into colonies.

Eventually the natives and the Spaniards interbred, forming a mestizo class.

The Spanish colonies could at last win their independence between 1804 and 1824 in the South American Wars of Independence.

The continent, like many others, had to become a battlefield of the Cold War in the late 20th century.

International indebtedness became a notable problem. It was most recently illustrated by Argentina's default in the early 21st century.

In the first decade of the 21st century, South American governments were to drift to the political left. Despite the tendency to move to the left of the political spectrum, most of South America's governments are in practical terms with societies embracing free-market capitalism.

With the foundation of the Union of South American Nations, South America will intend to start down the road of economic, social and political integration.

Due to histories of high inflation in nearly all South American countries, interest-rates and thus investment remain high and low, respectively. Interest rates are usually twice that of the United States. For example, interest-rates are about 22 % in Venezuela and 23 % in Suriname. The exception is Chile, which has been successfully implementing free market economic policies since the 1980s and increased its social spending since the return of democratic rule in the early 1990s. This has led to economic stability and interest rates in the low single digits.

The economic gap between the rich and poor in most South American nations is larger than in most other continents. In Venezuela, Paraguay, Bolivia and many other South American countries, the richest 20 % may own over 60 % of the nation's wealth, while the poorest 20 % may own less than 5 %. This wide gap can be seen in many large South American cities where makeshift shacks and slums lie adjacent to skyscrapers and upper-class luxury apartments.

Notes:

1. Venezuela – [vene zweilə] – Венесуэла

2. Suriname – [suəri næm] – Суринам

3. Paraguay – [pærəgwai] – Парагвай

4. Chile – [t∫ili] – Чили

5. indebtedness – задолженность (наличие долговых обязательств по отношению к кому-л.)

I. Прочитайте текст (без словаря).

II. Перепишите следующие предложения; подчеркните в каждом из них глагол-сказуемое и определите его видо-временную форму и залог. Переведите предложения на русский язык.

1. South America is bordered on the west by the Pacific Ocean and on the north and east by the Atlantic Ocean.

2. South America has an area of 17,840,000 square kilometres, its population was estimated at more than 371,000,000.

3. The inevitable fluctuation in the price of commodities in the international markets has led historically to major highs and lows in the economies of South American states.

4. With the foundation of the Union of South American Nations, South America will intend to start down the road of economic, social and political integration.

5. Chile has been successfully implementing free market economic policies since the 1980s and increased its social spending since the return of democratic rule in the early 1990s.

III. Перепишите следующие предложения; подчеркните Participle I и Participle II и установите функции каждого из них, т.е. укажите, является ли оно определением, обстоятельством или частью глагола-сказуемого. Переведите предложения на русский язык.

1. South America is a continent of the Americas, situated entirely in the Western Hemisphere and mostly in the Southern Hemisphere.

2. Beginning in the 1530s, the people and natural resources of South America were repeatedly exploited by foreign conquistadors.

3. These competing colonial nations claimed the land and resources as their own and divided it into colonies.

4. Eventually the natives and the Spaniards interbred, forming a mestizo class.

5. Most of South America's governments are in practical terms with societies embracing free-market capitalism.

IV. Перепишите следующие предложения; подчеркните в каждом из них модальный глагол или его эквивалент. Переведите предложения на русский язык.

1. The Spanish colonies could at last win their independence between 1804 and 1824 in the South American Wars of Independence.

2. In the first decade of the 21st century, South American governments were to drift to the political left.

3. The continent, like many others, had to become a battlefield of the Cold War in the late 20th century.

4. The richest 20 % may own over 60 % of the nation's wealth, while the poorest 20 % may own less than 5 %.

5. This wide gap can be seen in many large South American cities.

V. Прочитайте, перепишите и письменно переведите текст.

VI. Прочитайте текст и ответьте на вопросы:

1. Where is South America situated?

2. What was the main cause of extreme political instability of South America in times of war?

3. What political spectrum did South America governments move to in the beginning of the 21^st century?

4. How does Chile differ from other South American countries?

5. Where can the economic gap between the rich and the poor be seen?

Вариант 4

The economy of Africa consists of the trade, industry, and resources of the peoples of Africa. Approximately 887 million people live in 54 different states. Africa is by far the world's poorest inhabited continent, and it is, on average, poorer than it was 25 years ago.

Africa's current poverty is rooted, in part, in its history. The transition from colonialism has been shaky and uncertain. Since mid-20th century the Cold War and increased corruption and despotism have contributed to Africa's poor economy. This poverty has widespread effects, including low life expectancy, violence, and instability, which in turn perpetuate the continent's poverty. Over the decades, attempts to improve the economy of Africa have been met with little success.

National GDP per capita ranges from wealthier states in the north and south to poorer states in the east. The poorest states are engaged in or just emerging from civil wars. These include the Democratic Republic of the Congo, Sierra Leone, Burundi, and Somalia. There is considerable internal variation within countries. Urban areas, especially capital cities, are generally wealthier than rural zones. Inequality is pronounced in most African countries; an upper class has a much higher income than the majority of the population.

Around sixty percent of African workers are employed by the agricultural sector. In Africa excess capacity is devoted to growing crops for export. Thus, when civil unrest or a bad harvest occurs, there is often very little food saved and many starve.

Africa's most valuable exports are minerals and petroleum. A few countries possess and export the vast majority of these resources. The southern nations have large reserves of gold, diamonds, and copper. Petroleum is concentrated in Nigeria, its neighbours, and Libya.

While mining and drilling are to produce most of Africa's revenues each year, these industries only employ about two million people, a tiny fraction of the continent's population. Profits can go either to large corporations or to the governments.

Africa is the least industrialized continent; only South Africa and North Africa have substantial manufacturing sectors. Despite readily available cheap labour, nearly all of the continent's natural resources are exported for secondary refining and manufacturing. Only about 15% of workers are employed in the industrial sector.

The multinational corporations that control most of the world's major industries and their financiers require political stability before erecting an expensive factory. An educated populace, good infrastructure and a stable source of electricity are needed to investments. These factors are rare in Africa. Other developing regions of the world such as India and China have been more attractive to companies looking to build a new factory or invest in a local enterprise.

Banking in Africa has long been problematic. Governments and industry can’t rely on local banks as they are often unstable and corrupt.

Encouraging foreign investment in Africa has been difficult. Even Africans are reluctant to invest locally; about forty percent of sub-Saharan African savings are invested in other markets. Foreign governments who invest may have ulterior motives not in the best interest of the African economies. The IMF and World Bank only lend money after imposing stringent conditions such as austerity policies.

Notes:

1. Sierra Leone – [si erəli oun] – Сьерра-Леоне

2. Burundi – [burundi] – Бурунди

3. Somalia – [sou ma:liə] – Сомали

4. Nigeria – [naidgiəriə] – Нигерия

5.Libya – [libiə] – Ливия

6. IMF – МВФ, Международный валютный фонд (ООН)

I. Прочитайте текст (без словаря).

II. Перепишите следующие предложения; подчеркните в каждом из них глагол-сказуемое и определите его видо-временную форму и залог. Переведите предложения на русский язык.

1. The economy of Africa consists of the trade, industry, and resources of the peoples of Africa.

2. Africa's current poverty is rooted, in part, in its history.

3. The poorest states are engaged in or just emerging from civil wars.

4. Both have been known to squander this money on luxuries for the elite or on megaprojects that return little value.

5. Even Africans are reluctant to invest locally; about forty percent of sub-Saharan African savings are invested in other markets.

III. Перепишите следующие предложения; подчеркните Participle I и Participle II и установите функции каждого из них, т.е. укажите, является ли оно определением, обстоятельством или частью глагола-сказуемого. Переведите предложения на русский язык.

1. Since mid-20th century the Cold War and increased corruption and despotism have contributed to Africa's poor economy.

2. This poverty has widespread effects, including low life expectancy, violence, and instability.

3. These farms, normally operated by large corporations, cover tens of square kilometres and employ large numbers of labourers.

4. Other developing regions of the world such as India and China have been more attractive to companies looking to build a new factory or invest in a local enterprise.

5. Africa is the least industrialized continent; only South Africa and North Africa have substantial manufacturing sectors.

IV. Перепишите следующие предложения; подчеркните в каждом из них модальный глагол или его эквивалент. Переведите предложения на русский язык.

1. While mining and drilling are to produce most of Africa's revenues each year, these industries only employ about two million people.

2. Profits can go either to large corporations or to the governments.

3. Governments and industry can’t rely on local banks as they are often unstable and corrupt.

4. An educated populace, good infrastructure and a stable source of electricity are needed to investments.

5. Foreign governments who invest may have ulterior motives not in the best interest of the African economies.

V. Прочитайте, перепишите и письменно переведите текст.

VI. Прочитайте текст и ответьте на вопросы:

1. What does the economy of Africa comprise?

2. Where does the main cause of the Africa’s poverty lie?

3. What are the Africa’ most valuable exports?

4. In what economic sector is the most part of the population engaged?

5. What is the reason of difficult and problematic banking and foreign investment in Africa?

Вариант 5

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