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| Business Words in the News
Friday 14 December 2001
Vocabulary from the business news. Listen to and read the report then find explanations of difficult words below.
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China joins WTO
Summary: In China, state media have called the country's formal entry into the World Trade Organisation an important step towards greater openness. China's Prime Minister has described WTO membership as a challenge for Chinese officials. This report from Duncan Hewitt:
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| | The News | |
| | | China's formal membership of the WTO was the top headline in all the country's main newspapers, with surveys stressing that consumers are hoping it will bring them new choices in everything from cheaper imported cars to more Hollywood movies in their cinemas, and greater chances of studying in foreign-run education institutions. The sense that a significant change is underway was highlighted by the People's Daily newspaper. Its official commentary said joining the WTO was a mechanism for opening up further to the outside world, and it reiterated the government's line that the WTO will increase China's emphasis on the rule of law. It stressed that intellectual copyright laws must be enforced fully in a nation famous for its fake products.
State media also reported that around eighty laws have been revised or cancelled in order to conform to WTO rules. But the People's Daily acknowledged that the next few years will be a critical period for the success of China's reforms, and China's Prime Minister Zhu Rongji said at the weekend that many obstacles will have to be overcomeif the gains are to outweigh the losses China could face. Pain is likely to be felt most sharply in China's heavily protected agriculture sector, and in traditional state-run industries where millions of job losses are expected.
Duncan Hewitt, BBC, Shanghai
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| | The Words
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| | | top headline
main story in the newspaper
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| | | stressing
emphasising, making clear that something is important
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| | | is underway
has started
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| | | a mechanism for
a way to
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| | | reiterate
say something again because it is important
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| | | line
policy, attitude
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| | | intellectual copyright laws
laws which protect the ownership of an idea
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| | | conform to
obey
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| | | obstacles will have to be overcome
problems will have to be solved
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| | | if the gains are to outweigh the losses
if there are to be more advantages than disadvantages
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