3.Содружество Австралии является конституционной мо-

нархией.

4.Королева Австралии представлена генерал-губернато-

ром.

5.Власть генерал-губернатора передается кабинету, который формируется из членов парламента.

6.Перевозка британских осужденных постепенно прекратилась между 1840 и 1868 годом.

7.В конце 50-х годов XIX века около двух процентов населения Британии и Ирландии эмигрировало в Австралию.

8.Австралия имеет одну из самых активных в мире иммиграционных программ.

9.Австралийская культура по большей части заимствована из европейской культуры.

Text В. Economy of Australia

Australia has a prosperous Western-style capitalist economy, with a per capita GDP at the level of the dominant West European economies. Its developed market economy is dominated by its services sector (65% of GDP). It also has developed agricultural and mining sectors (7% of GDP combined). Australia is rich in natural resources and is a major exporter of agricultural products, minerals, metals, and fossil fuels. Commodities account for 57% of the value of total exports, so that a downturn in world commodity prices can have a big impact on the economy. The Government is trying to increase exports of manufactured goods, but competition in international markets continues to be severe. Australia's comparative advantage in primary products is a reflection of the natural wealth of the Australian Continent and its small domestic market — 19 million people occupy a continent the size of the United States. The relative size of the manufacturing sector has been declining for several decades, and now accounts for just under 12 percent of GDP.

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Australia started a basic reorientation of its economy more than 20 years ago and has transformed itself from an inward looking, importsubstitution country to an internationally competitive, export-oriented one.

Key reforms include unilaterally reducing high tariffs and other protective barriers; floating the Australian dollar exchange rate; deregulating the financial services sector, including a decision in late 1992 to allow liberal access for foreign bank branches; rationalizing and reducing the number of trade unions; better integrating the State economies into a national federal system; improving and standardizing the national infrastructure; and privatizing many government-owned services and public utilities.

The ultimate goal for Australia is to become a competitive producer and exporter, not just of traditional farm and mineral commodities, but of a diversified mix of manufactured products, services, and technologies. While progress has been made on this economic reform agenda, such as in opening the telecommunications market to competition, much remains to be done, particularly in the domestic arena.

Australia has continued to prosper during the years of 2001—2004. It has done so by continuing to privatize industries and by relying on increasing domestic consumption and Chinese demand for resources. The state of Western Australia in particular has benefited from the resources boom caused by China, with its economy growing at an annualized rate of 7.5% during 2004. The national economy, however, has been growing at an average rate of just above 3 % a year. New economic problems come from a trade deficit caused by increasing amounts of cheap Chinese imports and overspending by Australian consumers.

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Questions to the Text

1.What is the per capita GDP of Australia?

2.What sector dominates Australian economy?

3.What does Australia export?

4.What are the key reforms of the Australian economy?

5.What is the ultimate goal for Australian economy?

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6.What two factors have influenced Australian economic prosperity in years 2001-2004?

7.What are the reasons of economic problems for Australia?

Exercise 66. Translate into Russian.

1. Australia's GDP per capita is at the level of dominant West European economies. 2. Australia is rich in natural resources and also has developed agricultural and mining sectors. 3. Downturn in world commodity prices can have a great impact on the Australian economy. 4. Australian government is trying to increase exports of manufactured goods. 5. Australia has transformed itself to an internationally competitive, export-oriented economy. 6. Competition in international markets continues to be severe. 7. Australia is has a size of the United States and small domestic market of 19 million people. 8. Australian economy was inward-looking, did not have a liberal access for foreign bank branches and had a high number of trade unions. 9. Australian government succeeded in improving and standardizing the national infrastructure, privatizing many government-owned services and public utilities. 10. Australian economy continues to prosper because it continues to privatize undustries and to rely on Chinese demand for resources.

Exercise 67. Write sentences with the following words:

•prosperous economy;

•West European economy;

•fossil fuels;

•commodities;

•downturn in commodity prices;

•to have impact on the economy;

•reflection of the natural wealth;

•relative size of the manufacturing sector;

•key reforms;

•reducing tariffs;

•domestic market;

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•floating exchange rate;

•foreign bank branches;

•downturn in world commodity prices;

•inward looking economy;

•trade unions;

•national federal system;

•ultimate goal.

Exercise 68. Translate into English.

1. Экономика Австралии представляет собой процветающую капиталистическую экономику по образцу стран Западной европы. 2. Австралия обладает богатыми запасами натуральных ресурсов и является крупным экспортером сельскохозяйственных продуктов, металлов, минералов и полезных ископаемых. 3. Колебания цен на мировых товарных рынках имют огромное влияние на экономику Австралии. 4. Внутренний рынок Австралии мал, потому что население континента составляет 19 миллионов человек. 5. Относительный размер сектора производства уменьшался на протяжении нескольких десятков лет. 6. «Плавающий» курс австралийского доллара и решение открыть доступ к внутреннему финансовому рынку для филиалов иностранных банков являлись частью ключевых реформ австралийской экономики. 7. Важнейшей задачей для Австралии является реструктуризация экономики. 8. Штат Западная Австралия имел экономический рост порядка 7,5% в 2004 году за счет повышенного спроса на сырье со стороны Китая. 9. Новые экономические проблемы являются следствием торгового дефицита.

Exercise 69. Answer the following question. Write a short essay.

1.What aspects of Australian economy are similar to Russian

economy?

2.What is different from Russian economy?

3.What problems are similar?

4.Can we learn from the Australian experience?

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