Questions 1 3- 20
. Read this text about south Korea's economic development, and answer the questions that follow.
the Koreans see the Seoul Olympics as a chance to show their rapid proGREss. The Tokyo Olympic Games in 1964 served the same purpose for a developing Japan. Within 13 years , according to a detailed development plan ,Korea is determined to be among the world's ten largest trading nations ,up from the 13th now.
1. Much of the economy's development in recent years comes from what Korean leaders call the three blessings-lower oil prices, lower world wide interest rates, and a currency that is weak against the Japanese yen. The Korean won is closely related with many other currencies, though the finance ministry will not say which ones. Obviously the U. S. dollar is the most important. When its value drops against the Japanese yen, the Korean won went down too. Since September 1985 the won has decreased about 40% against the yen, giving Korea a huge advantage over Japan in the U.S. market.
2. the Koreans made good use of this advantage, pouring 40% of their exports into America. When the U.S. responded with tough protectionism talk, they pretended to be surprised and angry. The Koreans still see themselves as relatively poor dependents of the U.S. and take American protectionism as betrayal by a big brother. They are right. The Korean economy is only 6% of Japan's. Tall buildings in Seoul resemble those in Tokyo, but the Korean capital is full of narrow streets and poor houses like a village. In the countryside some 20% of home lack running water. Moreover, Korea has a heavy defense burden as well as that big foreign debt.
3. And Korea has suffered set tacks before In the 1970s the government supported heavy industry ,creating some big but sseless enterpriscs. The Treasury Ministry is still quietly supporting some ill shipping and overseas companies. Meanwhile the government does not know how to set up wining industries.
4. the Koreans are also quick to point out that their 7.1 billion trade surplus with the U.S. is just 4% of the total American trade deficit. Japan account for 35%. In the U. S. the Koreans are competing with Japanese not American ,Products. They complain that U. S. protectionism punishes them for Americans' lazy work habits and drug abuse. They say the union rules have ruined U. S. competitiveness.
Questions 13-16
. For questions 13-16, choose the correct title for each paragraph for the box below.
. For each paragraph(l-4) mark one letter (A-G) on your Answer Sheet.
. De not mark any letter twice.
13. Paragraph 1 ...
14. Paragraph 2 ...
15. Paragraph 3 ...
16. Paragraph 4 ...
A. Economy's development
B. Lessons from the past
C. Korean products in U. S. market
D. Exports into America
E. Favourable economic background
F. Trade surplus
G. Disadvantageous factors
Questions 1 7- 20
. Using the information in the text, complete each sentence 17-20 ,with a phrase from the List below (A-G) .
. For each sentence (17-20) mark one letter (A-G) on your Answer Sheet.
. Do not mark any letter twice.
17. For the Japanese ,the Tokyo Olympic Games was regarded...
18. the Koreans think of the U. S. protectionism...
19. the recent economic development of south Korea is due...
20. the Japanese trade surplus accounts...
A. to have three advantages.
B. among the ten biggest countries in foreign trade.
C. for thirty-five percent of the total American trade deficit.
D. as an exhibition of rapid economic growth.
E. against the Japanese currency.
F. of narrow streets and poor houses.
G. as cheating a little brother.
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