Consolidation

Exercise № 20

Translate the sentences into Russian.

1. With no signs of an end to the world’s current oil glut, fears are mounting of a repeat of the 1980s, a grim era for oil producers when revenues not only crashed, but stayed depressed for nearly 20 years.

2. Jeoff Hall, an economist at Thomson Financial, said: "Given the high level of export orders, we were surprised to see such a rapid deterioration in business conditions recently."

3. For one thing, the airborne share of trade is declining as the efficiency of seaborne trade grows.

4. Most companies have little choice but to continue to do cost-cutting to maintain profit margins amid weak sales.

5. The cargoes that fill the ships at America’s ports reflect changes in the US consumption patterns (e.g. fewer oil imports as domestic production increases).

6. Pascal Lamy, head of the WTO, has suggested that Africa could be China’s biggest trade partner within three to five years.

7. The news is no better in Europe, where third-quarter profits are expected to be down 5.4% on the year, with revenues dropping 7.9%.

8. The inventory buildup suggests that third-quarter GDP growth was somewhat higher than the government’s initial estimate of 4.8%.

9. With China’s farms expanding, at a time of subdued domestic demand, and with European ones freed from production quotas, milk prices could slip further.

10. Investors and analysts now regard a December increase in oil prices as all but certain, barring unexpected developments.

11. If all goes well, the next four years will see lower unemployment, higher real wages, higher profits and investment-driven productivity improvements.

12. Now the worry is another slowdown, given that the average gasoline price hit a record $2.28 per gallon in the week ended April 11.

13. In all, policymakers confront a host of complex and interlocking challenges: fiscal and monetary normalization in advanced countries; managing the overheating in emerging economies; adjusting to big shifts in prices; and rebalancing the entire pattern of global demand.

14. Fiat looks like Europe’s most challenged carmaker this year, barring perhaps only Peugeot Citroёn.

15. Even now, with the recovery more than three quarters old, capital spending remains stuck in the doldrums.

16. The pattern of developed-country deficit and emerging-market surpluses is likely to continue.

17. The privileges of reserve-currency status were not confined to the dollar, though it enjoyed the lion’s share.

18. The pattern of growth is expected to be uneven, with the US displaying a much stronger recovery than the Eurozone or Japan.

19. The rich world’s recovery is anything but assured; the euro zone, which accounts for 13% of global output, is once again teetering on the brink of recession.

20. China saw imports drop for the twelfth month in a row in October giving further cause for concern over the Chinese economy. Chinese authorities have been trying to make the economy more consumer-led and less reliant on exports, but the continuing fall in imports suggests domestic demand is not as strong as Beijing would like.