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PART 3
THE WORLD ECONOMY
Unit 1
What Is the Next Economic Leader.
1 Before reading this article on the future of the US economy,
read the sentences to guess the words in bold.
1. Who was Obama’s main rival in the presidential elections?
2. IBM and Apple are major rival companies in the computer industry.
3. The computer has made a great impact on modern life.
4. This costs will impact our profit.
5. The First World War was a key catalyst for social changes in Europe.
6. This catalyst quickens the reaction.
7. There is restriction on sales of weapon.
8. Speed restrictions in our country is 90 km per hour.
2 Consult GRAMMAR REVIEW section and translate the words
with prefixes.
efficient inefficient
competitive uncompetitive
perform outperform
national multinational
distribution redistribution
3 Read the article. (Some terms are explained after the text).
THE WORLD'S ECONOMIC LEADER
Several leading economists defined the twentieth century ‘the Ameri-
can century’. As we enter the twenty first century people around the world
are beginning to ask just for how long the U.S. will be able to retain its posi-
tion as the world’s number one economic power.
Much is made of ‘legacy industries’ in the U.S., old industries such as
car production, steel manufacturing, coal mining and most of the airline in-
dustry. Companies in these sectors struggle with work practices that make
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