Anyone who doubts that global financial markets control national economies need only look at the crisis facing the "tigers" of the Far East. Last year, the value of their currencies dropped rapidly, after investors decided that their economic policies were not strong enough; now the region is suffering slower growth, lower living standards and rising unemployment.
The situation in Asia shows how power has shifted from individual governments to the markets. In theory, governments are free to set their own economic policies; in practice, they must conform to a global economic model or risk being penalized by the markets.
Adjusting to this new "economic order" is proving difficult. In the developed world, and in particular the European Union, globalization is facing widespread public resistance. Critics complain that, without the protection of trade barriers, jobs are being lost to
A. doubt that global financial markets will control national economies
B. fail to follow a global economic model adequately
C. have set their own free economic policies
D. have their power interfere with the markets
Passage One
Global warming may or may not be the great environmental crisis of the 21st century, but — regardless of whether it is or isn’t — we won’t do much about it. We will argue over it and may even, as a nation, make some fairly solemn-sounding commitments to avoid it. But the more dramatic and meaningful these commitments seem, the less likely they are to be observed.
Al Gore calls global warming an "inconvenient truth," as if merely recognizing it could put us on a path to a solution. But the real truth is that we don’t know enough to relieve global warming, and — without major technological breakthroughs — we can’t do much about it.
From 2003 to 2050, the world’s population is projected to grow from 6.4 billon to 9.1 billion, a 42% increase. If energy use per person and technology remain the same, total energy use and greenhouse gas emissions (mainly, CO2 )will be 420/0 higher in 2050
A. economic growth
B. wasteful use of energy
C. the widening gap between the rich and poor
D. the rapid advances of science and technology
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