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The economy of North America comprises more than 514 million people in 23 sovereign states and 15 dependent territories. It is marked by a sharp division between the northern English and French speaking countries of Canada and the United States, which are among the wealthiest and most developed nations in the world, and the countries of Central America and the Caribbean that are less developed. Mexico lies in between these two extremes as a newly industrialized country or NIC, and is a part of The North American Free Trade Agreement (NAFTA).

The 1920s were a time of economic growth and prosperity in North America. Increased incomes and the large increase in the ability of private citizens to obtain credit resulted in a surge of consumer spending after World War I.

The Great Depression began in North America in October 1929. The start is often dated to the stock market collapse of Black Friday although this was not the cause of the Great Depression. Canada and the United States experienced especially large declines. The economy reached its lowest point in 1933, however recovery was slow. The outbreak of World War II in 1939 created demand for war materials that could bring about the end of the depression.

The Great Depression spurred increased government intervention in the economy in North America. The United States introduced unemployment insurance, a minimum wage and standardised working hours. Canada introduced similar measures. Mexico nationalised some key industries during the Great Depression. The oil industry was nationalised in 1938.

During World War II women had to enter the workforce, filling many jobs in manufacturing and technical areas that had previously been closed to women. The economic output in North America increased substantially. Unemployment was practically eliminated in the United States. Rationing severely reduced the availability of consumer goods. The increase in industrial production was coming from the demand for war materials.

US-Canada Free Trade Agreement and The North American Free Trade Agreement (NAFTA) must be a new era of economic integration.

The Canada-United States Free Trade Agreement of 1989 and the subsequent expansion to NAFTA triggered a dramatic increase in trade between these three countries. Over 85% of Canadian exports in 2006 went to the United States.

The Asia-Pacific Economic Cooperation (APEC) is a group of Pacific Rim countries, which is to improve economic and political ties. APEC’s stated goals are aimed at free and open trade and investments for industrialised economies by 2010 and for developing economies by 2020.

The Caribbean Community (CARICOM) was created on January 1, 2006 «To provide dynamic leadership and service, in partnership with Community institutions and Groups, toward the attainment of a viable, internationally competitive and sustainable Community, with improved quality of life for all».

The Central American Free Trade Agreement (CAFTA) is an agreement between the United States and the Central American countries of Costa Rica, Guatemala, El Salvador, Honduras, and Nicaragua. The treaty is aimed to promote free trade between its members. Canada and Mexico are negotiating membership.

The North American Free Trade Agreement (NAFTA) is an agreement between Canada, Mexico and the United States to eliminate tariffs on goods traded between themselves.

Although currently only a trade agreement, with no supranational bodies or laws as in the European Union, all three members support proposals to move towards an EU style organisation. In future this may eventually develop into a North American Union similar to that of Europe.

Notes:

1. newly industrialized country (NIC) – Новые промышленные страны

2. the North American Free Trade Agreement (NAFTA) –Североамериканское соглашение о свободе торговли

3. the Asia-Pacific Economic Cooperation (APEC) – Азиатско—тихоокеанское экономическое сотрудничество

4. the Caribbean Community (CARICOM) – Сообщество стран Карибского бассейна и общий рынок

5. the Central American Free Trade Agreement (CAFTA) – Центральноамериканское соглашение о свободе торговли

6. Pacific Rim – Страны Тихоокеанского бассейна

I. Прочитайте текст (без словаря).

II. Перепишите следующие предложения; подчеркните в каждом из них глагол-сказуемое и определите его видо-временную форму и залог. Переведите предложения на русский язык.

1. The economy of North America is marked by a sharp division between the northern English and French speaking countries of Canada and of the USA and the countries of Central America and the Caribbean. Present Simple Passive.

2. Mexico lies in between these two extremes as a newly industrialized country. Present Simple Active.

3. The railroads had been nationalised by 1937 and the oil industry were nationalised in 1938. Present Perfect Passive. Past Simple Passive.

4. The start of the Great Depression is often dated to the stock market collapse of Black Friday. Present Simple Passive.

5. Canada and Mexico are negotiating membership in The Central American Free Trade Agreement (CAFTA). Present Continuous Active.

III. Перепишите следующие предложения; подчеркните Participle I и Participle II и установите функции каждого из них, т.е. укажите, является ли оно определением, обстоятельством или частью глагола-сказуемого. Переведите предложения на русский язык.

1. The northern English and French speaking (Participle I, определение) countries of Canada and the United States are among the wealthiest and most developed (Participle II, определение) nations in the world.

2. The Great Depression spurred (Participle II, обстоятельство) increased government intervention in the economy in North America.

3. The United States introduced unemployment insurance, a minimum wage and standardised (Participle II, определение) working (Participle I, определение) hours.

4. The increase in industrial production was coming (Participle I, часть сказуемого) from the demand for war materials.

5. APEC’s stated (Participle II, определение) goals are aimed (Participle II, част сказуемого) at free and open trade and investments for industrialised (Participle II, определение) economies by 2010 and for developing (Participle I, определение) economies by 2020.

IV. Перепишите следующие предложения; подчеркните в каждом из них модальный глагол или его эквивалент. Переведите предложения на русский язык.

1. In future this may eventually develop into a North American Union similar to that of Europe.

2. The outbreak of World War II in 1939 created demand for war materials that could bring about the end of the depression.

3. During World War II women had to enter the workforce, filling many jobs in manufacturing and technical areas.

4. The Asia-Pacific Economic Cooperation (APEC) is a group of Pacific Rim countries, which is to improve economic and political ties.

5. US-Canada Free Trade Agreement and The North American Free Trade Agreement (NAFTA) must be a new era of economic integration.

V. Прочитайте, перепишите и письменно переведите текст.

VI. Прочитайте текст и ответьте на вопросы:

1. How many states and territories does the economy of North America comprise? The economy of North America comprises more than 514 million people in 23 sovereign states and 15 dependent territories.

2. When did Canada and the USA experience large decline in the economy? The economy reached its lowest point in 1933, however recovery was slow. The outbreak of World War II in 1939 created demand for war materials that could bring about the end of the depression.

3. What measures were undertaken by the US government to recover the economy? The United States introduced unemployment insurance, a minimum wage and standardised working hours. Canada introduced similar measures.

4. How did the economy of North America develop during the WW II? During World War II women had to enter the workforce, filling many jobs in manufacturing and technical areas that had previously been closed to women. The economic output in North America increased substantially. Unemployment was practically eliminated in the United States. Rationing severely reduced the availability of consumer goods. The increase in industrial production was coming from the demand for war materials.

5. What are the main trade agreements of North America and what are they mainly aimed at? They are US-Canada Free Trade Agreement and The North American Free Trade Agreement (NAFTA).