Finance and financial system
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english test
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4. VOCABULARY: Circle any words you do not understand. In groups, pool unknown words and use dictionaries to find their meanings. 5. TEST EACH OTHER: Look at the words below. With your partner, try to recall how they were used in the text:
LANGUAGE - CLOZE People do many crazy things to raise money for charity. The (1) ____ crazy stunt came from an English man who (2) ____ to push a Brussels sprout up the highest mountain in Wales – with his nose. He wanted to raise $8,500 for a cancer charity. Stuart Kettell, 49, said he loves challenges and will try to do (3) ____ for charity. His other challenges include walking 800 kilometers on stilts and sitting in a box for a week. He said: "I have seen first (4) ____ the amazing work [the charity] Macmillan Cancer Support does, not only for the (5) ____ but their family and friends too." He added: "People’s cancer stories inspire me even more to carry (6) ____, and my challenges are going to get even more crazy." It took Mr Kettell three days to push the Brussels sprout up the 1,085m-high Mount Snowden. He wore a specially (7) ____ face mask so he wouldn't scrape the skin off his face. He practised for his charity mission by pushing a Brussels sprout around his garden. He (8) ____ a large sprout for his Snowden challenge. It was about the (9) ____ of a table-tennis ball. He said he wanted a larger one because it would not fall down a (10) ____. He spent three days on his hands and knees with his nose a centimeter or two above the ground. He told reporters there was "a (11) ____ amount of pain" in his knees, wrists and back. He said he was happy because his training worked, he reached the (12) ____, and he raised money for the charity. Put the correct words from the table below in the above article.
SPELLING Paragraph 1 1. raise money for rycthia 2. he loves cahnsgeell 3. cneuild walking 800km 4. the ganmaiz work 5. only for the patntie 6. stories siperin me even more
7. He wore a specially sedgedin face mask 8. he wouldn't psaecr the skin 9. fall down a ckacr 10. above the ounrdg 11. a huge unmtoa of pain 12. he reached the iumtsm
4. more on stories even carry cancer me to People’s inspire 5. get crazy challenges to more My going even are. 6. mask face designed specially a wore He. 7. off wouldn't his scrape face the skin He. 8. his knees spent on and He days hands three. 9. huge amount of pain He told reporters there was a 10. training He was his he because worked said happy. 1. VOCABULARY EXTENSION: Choose several of the words from the text. Use a dictionary or Google’s search field (or another search engine) to build up more associations / collocations of each word. 2. INTERNET: Search the Internet and find out more about challenges. Share what you discover with your partner(s) in the next lesson. 3. CHALLENGES: Make a poster about challenges. Show your work to your classmates in the next lesson. Did you all have similar things? 4. CHARITY: Write a magazine article about doing things for charity. Include imaginary interviews with people who do things for charity and with charity bosses. 5. WHAT HAPPENED NEXT? Write a newspaper article about the next stage in this news story. Read what you wrote to your classmates in the next lesson. Give each other feedback on your articles. LETTER: Write a letter to an expert on challenges. Ask him/her three questions about challenges. Give him/her three of your ideas on how to raise money for charity. Read your letter to your partner(s) in your next lesson. Your partner(s) will answer your questio 10. The role of infrastructure in economy Попытка: 1 The role of Infrastructure in growth of economy Theme: The role of Infrastructure in growth of economy Introduction to Infrastructure: The infrastructure is important for faster economic growth and alleviation of poverty in the country. The adequate infrastructure in the form of road and railway transport system, ports, power, airports and their efficient working is also needed for integration of the Indian economy with other economies of the world. The following are the important constituents of infrastructure: 1. Power and the source of its production such as coal and oil; 2. Roads and road transport; 3. Railways; 4. Communication, especially telecommunication; 5. Ports and airports; and 6. For agriculture, irrigation constitutes the important infrastructure. A distinguishing feature of infrastructure is that while the demand-supply gap in case of other factors can be met by importing some of them, the deficiency of infrastructure cannot be made up through imports. Because location-based the need for relevant infrastructure facility can be met through development of its capacity in the domestic economy. For example, you cannot import power facility, roads, ports or railways as they have to be built up in the domestic economy. Importance of Infrastructure: It needs to be emphasized that good quality infrastructure is important not only for faster economic growth but also to ensure inclusive growth. By inclusive growth we mean that benefits of growth are shared by the majority of the people of a country. Thus the inclusive growth will lead to the alleviation of poverty and reduction in income inequality in the country. For example, micro, small and medium enterprises (MSME) are dispersed throughout the economy and production by them and their growth require access to quality and reliable infrastructure services to compete efficiently with large-scale enterprises which can often build some of their own infrastructure such as installing their own small power plants or generators. Besides, large-scale firms can even locate themselves near ports and near transport hubs where required infrastructure is available. Small enterprises, on the other hand, are dispersed widely in the economy and have to rely on the availability of the general infrastructure facilities. Thus, by building up general infrastructure facilities helps the small enterprises to compete successfully with large-scale industries and being labour-intensive generate large employment opportunities for the workers. This will help to alleviate the poverty in developing countries. The expansion in infrastructure facilities such as irrigation, rural electrification, roads and road transport will promote agricultural growth and setting up of agro-processing industries. These general infrastructure facilities will help farmers and owners of processing industries to get their requirements of raw materials, fertilizers and other inputs at cheap rate and also help them to bring their products to the markets which are located in big towns and cities. Lack of adequate infrastructure not only holds lack economic development, it also causes additional costs in terms of time, effort and money of the people for accessing essential social services such as healthcare and education. Emphasizing the importance of adequate infrastructure, authors of Economic Survey of India for the Year 2013 -14 quite rightly write, “Rural economic growth in recent years has put enormous pressure on existing infrastructure particularly on transport, energy and communication. Unless it is significantly improved infrastructure will continue to be a bottleneck for growth and obstacle to poverty reduction”. In other words, it is the challenge to ensure strong, sustainable and balanced development through integration of the economy with environmentally sustainable development of infrastructure. RAILWAY TRANSPORT 1. Sector Performance, Problems, and Opportunities 1. Railways as a backbone to Uzbekistan’s economy. Uzbekistan is a double landlocked country, requiring crossing at least two countries to reach seaports. Uzbekistan heavily relies on rail transport for freight and passenger movement. Railways in Uzbekistan carried about 82 million tons of freight and 21 million passengers in 2015. The joint stock company O’zbekiston Temir Yo’llari (UTY) is responsible for the management and operation of the nationwide 4,200 kilometer (km) railway network. 2. The Uzbekistan railway network is relatively dense compared with other countries in the region (9.46 km/1,000km)2: Iran–3.7, Kazakhstan–5.2, the Peoples Republic of China–6.9, and Turkmenistan–6.4. Railways have a strong position in the transportation market in Uzbekistan. UTY operates transport services for freight and passengers and is in charge of infrastructure development and maintenance. UTY carries 40%–50% of the total freight traffic by volume (tonkm)1, a significant market share when compared with railways worldwide.2 The passenger rail market has a share of approximately 4% by volume (passenger-km).3 3. Freight traffic trends. UTY is predominantly a freight company. The volume of freight transported by rail increased by about 24% between 2005 and 2012, but rail market share decreased from 54% to 47% compared with road transport. Since 2012, freight traffic has remained constant in tonnage terms at around 80 million tons. About one-third (in terms of tonkm) of the freight traffic carried by the railways are international movements (import, export, and transit), mostly grain, fuel and other bulk and semi-bulk commodities. Despite recent growth in traffic volumes, UTY’s freight traffic stays significantly behind the traffic volumes of the Uzbek sections of the Central Asian Railways4 prior to the disintegration of the Soviet Railways. A decline in freight wagon fleet accompanied the decline in traffic. Over the period between 2007 and 2016, the freight wagon fleet has averaged about 30,000 wagons. Of this amount, some 19% were reported to be privately owned. Wagon age distribution shows that a large proportion of the wagon fleet (nearly 90%) would need to be replaced between 2017 and 2026. Table 1: UTY freight and passenger traffic (2011–2015) Traffic volumes 2011 2012 2013 2014 2015 Freight traffic, million tons 80.91 82.39 82.82 82.29 82.30 Freight traffic, million ton-km 22,482 22,686 22,918 22,931 22,933 Passenger traffic, million passengers 15.95 17.12 18.36 19.85 20.63 Passenger traffic, million passenger-km 3,025 3,428 3,673 3,760 3,758 Source: O’zbekiston Temir Yo’llari. 5. Completing missing links for domestic connectivity. Prior to the break-up of the Soviet Union, the rail network in Central Asia was driven by a Moscow-centered planned economy without regard for internal boundaries among the Soviet Republics. Since the 1990s, national boundaries among the newly independent states of the former Soviet Union have created new barriers to trade flows and market access. This has had many serious effects on Uzbekistan’s railway operations and activities. Newly erected border crossings worsened internal connectivity, as many rail and road routes had to cross into neighboring countriesbefore crossing back into Uzbekistan. Similarly, neighboring countries depended on the Uzbekistan transport network to transport their goods and passengers (e.g., southernUzbekistan provided transit for Tajikistan and northern Uzbekistan provided transit for the Kyrgyz Republic) 6. One of the most serious issues was connecting the Fergana Valley region to the rest of Uzbekistan and ensuring adequate capacity for traffic from this productive and fruitful region. Until 2016, rail traffic to and from the Fergana Valley was disrupted by lengthy border crossing procedures and high transit tariffs through Tajikistan. With the commissioning of the Kamchiktunnel in September 2016,6 Uzbekistan was finally able to complete a fully internally integrated railway network 7. As the passenger traffic is cross-subsidized by the freight operations and is growing significantly, further improvement of financial performance is possible with the increase in premium passenger services and the growth of operational efficiency in freight rail operations, which remains at constant traffic volume . Opening up of Fergana Valley for additional railway traffic can also contribute to increased productivity of operations and improvement in the operating ratio. UTY has the potential to improve customer service in all categories of clients and develop new logistics products, especially in general freight traffic. With improved commercial orientation, UTY has great potential to offer new high profit margin logistics products, which will further improve its profitability and prospects of long-term growth.
THE ARTICLE China's President Xi Jinping has outlined an ambitious project to regenerate global growth. His government has pledged a massive $124 billion to bolster global trade along the old Silk Road route. President Xi spoke about the initiative on Sunday at a summit attended by leaders from 29 countries, as well as the heads of the United Nations, International Monetary Fund and World Bank. The President stated that the new initiative aimed to expand trading links between Asia, Africa, Europe and beyond. He said the project would invest billions of dollars in infrastructure to help facilitate the free flow of goods. He told attendees at the summit that: "Trade is the important engine of economic development." President Xi said increased global trade would make the world more peaceful. He said: "We should build an open platform of cooperation, and uphold and grow an open world economy….We will not re-tread the old path of games between foes. Instead we will create a new model of cooperation and mutual benefit." Pakistan's Prime Minister Nawaz Sharif was impressed with President Xi's "vision and ingenuity". He said: "Such a broad sweep and scale of interlocking economic partnerships and investments is unprecedented in history. We stand at the cusp of a geo-economic revolution." Britain's finance minister told the summit his country was a "natural partner" of the project.
a. China has pledged $124 million to bolster global growth. T / F b. China's president spoke to the leaders of 29 countries. T / F c. Europe will not be included in the Silk Road plan. T / F d. China's president said China would develop new engines. T / F e. President Xi said increased global trade would help bring peace. T / F f. Pakistan's president didn't have good things to say about the plan. T / F g. Pakistan's president said there could be a geo-economic revolution. T / F h. Britain said it was a natural partner of the Silk Road plan. T / F
Match the following synonyms. The words in bold are from the news article.
3. PHRASE MATCH: (Sometimes more than one choice is possible.)
LANGUAGE - CLOZE China's President Xi Jinping has (1) ____ an ambitious project to regenerate global growth. His government has pledged a (2) ____ $124 billion to bolster global trade along the old Silk Road route. President Xi spoke about the (3) ____ on Sunday at a summit attended by leaders from 29 countries, as well as the heads of the United Nations, International Monetary Fund and World Bank. The President stated that the new initiative aimed (4) ____ expand trading links between Asia, Africa, Europe and beyond. He said the project would invest billions of dollars (5) ___ infrastructure to help facilitate the free flow of goods. He told attendees at the summit that: "Trade is the (6) ____ engine of economic development." President Xi said increased global trade would make the world (7) ____ peaceful. He said: "We should build an open platform of cooperation, and (8) ____ and grow an open world economy….We will not re-tread the old path of games between (9) ____. Instead we will create a new model of cooperation and mutual benefit." Pakistan's Prime Minister Nawaz Sharif was impressed (10) ____ President Xi's "vision and ingenuity". He said: "Such a broad sweep and scale of interlocking economic partnerships and investments is unprecedented (11) ____ history. We stand at the cusp of a geo-economic revolution." Britain's finance minister told the summit his country was a "(12) ____ partner" of the project Put the correct words from the table below in the above article.
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