TRADE IN HONG KONG

TRADE IN HONG KONG

It is well known that trade in Hong Kong has flourished considerably during recent years, despite problems at home and abroad. While the influx of refugees has brought the government severe problems in housing, education and other fields, it has made available a large number of relatively inexpensive but very hard-working employees. However, the availability of cheap labour has also brought problems which affect the export trade.


Some foreign countries have objected to the unrestricted import of Hong Kong goods, particularly textiles, and have imposed tariff barriers or other restrictions. In a number of importing countries, allegations have been made that Hong Kong manufacturers have been ‘dumping’ goods at unfairly low prices. In some cases, reasonable restrictions have been imposed to protect industries in the importing countries. The cumulative effect has been to curtail exports from Hong Kongto some areas, especially to newly-developing countries trying to develop pioneer industries of their own.

Hong Kong is conveniently near the large potential markets of China, Japan and South East Asia, and trade with these areas has shown a steady improvement. But if Hong Kong is conveniently placed for Asian markets, she is at a disadvantage when trading with Africa, Europe and America. The cost of freight and insurance is another problem which industrialists have to face when they try to increase their exports to distant markets.

Within Hong Kong, a number of factors help the development of trade. The average employee works harder than his counterpart in some other countries, is highly adaptable and technically very skillful. There are highly developed banking, insurance and shipping systems which help the local manufacturer and exporter. These systems have evolved to maintain Hong Kong’s position as a basically tariff-free port, and they are easily able to deal with the complexities of modern trade. Income tax, too, is more favorable than in some of the countries with which Hong Kong must compete in the search for overseas markets. The incentive for worker, manufacturer and overseas investor is higher than in many other parts of the world.

A particular obstacle which local industrialists have to overcome or learn to live with is the shortage of land and the high price which must be paid for suitable manufacturing sites. The Government has carried out a systematic policy of land reclamation but this is an expensive and lengthy process. It cannot be expected to keep pace with the rapid development of industry, particularly when land is urgently needed for housing and other purposes.

Reading Comprehension n. 3 TRADE IN HONG KONG
1. Answer the following comprehension questions.
· What’s the passage about?……………………………………………………………………………
………………………………………………………………………………………………………..
· What are 2 benefits and 2 problems which the flow of refugees has brought to Hong Kong?
………………………………………………………………………………………………………..
…………………………………………………………………………………………………………
· What actions have some countries taken to protect their industries from Hong Kong imports?
……………………………………………………………………………………………………………
· What effect would Hong Kong’s geographical position have on her trade with
a) Indonesia…………………………………………………………………………………………….
b) Germany…………………………………………………………………………………………….
· What 2 problems do exporters in Hong Kong have when trading with distant markets?
………………………………………………………………………………………………………….
· List 3 advantages within Hong Kong that help foreign trade………………………………………..
…………………………………………………………………………………………………………..
· What are 2 disadvantages of working in Hong Kong?…………………………………………………
…………………………………………………………………………………………………………..
· Explain the meaning of the following words or phrases as they are used in the text.
a) influx of refugees (2)…………………………………………………………………
b) textiles (8)……………………………………………………………………………
c) allegations have been made (9)………………………………………………………
d) dumping (10)…………………………………………………………………………
e) pioneer industries (13)………………………………………………………………
f) have to face (19)…………………………………………………………………….
g) counterpart (22)…………………………………………………………………….
h) have to overcome (31)……………………………………………………………….
i) learn to live with (31)………………………………………………………………..
j) to keep pace (35)………………………………………………………………………


2. What do the following words refer to?
it (1)…………………………………………….. it (4)………………………………………………
their (14)………………………………………. she (17)…………………………………………..
they (19)………………………………………. his (22)………………………………………….
they (26)………………………………………. which (27)………………………………………
this (34)………………………………………… it (34)…………………………………………..


3. Translate the following linking words as they are used in the text. State the function of each linking word,
e.g., to add information, to contrast, time, place, result etc.
· despite (2)……………………………………………………………
· while (2)……………………………………………………………..
· however (5)…………………………………………………………..
· when (19)……………………………………………………………..
· too (27)……………………………………………………………….

3a In paragraph 4, write an appropriate linking word to join the ideas expressed between
sentences 1 and 2………………………………. sentences 4 and 5……………………..
sentences 2 and 3………………………………. sentences 5 and 6……………………..
sentences 3 and 4

4. IRREGULAR VERBS …..write the infinitive, past simple, past participle and translation of the following verbs.
INFINITIVE PAST SIMPLE PAST PARTICIPLE TRANSLATION
……………………………………………………………..known (1)……………………………………
……………………………………………………………...brought (3)………………………………….
………………………………………………………………made (4)……………………………………
………………………………………………………………been (9)…………………………………….
………………………………………………………………shown (16)………………………………….
……………………………………………………………..overcome (31)……………………………….
…………………………………………………………………paid (32)……………………………………
keep (35)…………………………………………………………………………………………………….



5. MODALS…..translate the following modal constructions and state what each modal expresses,
e.g., ability, obligation, permission, advice, possibility etc.
· industrialists have to face (19)…………………………………………………………….
· they are able to (26) = can ………………………………………………………………
· Hong Kong must compete (28)…………………………………………………………….
· the high price which must be paid (32)……………………………………………………
· it cannot be expected (34)………………………………………………………………….




6. PASSIVES …..translate the following passive constructions.
· allegations have been made (9)…………………………………………………………..
· restrictions have been imposed (11)……………………………………………………….
· the high price which must be paid (32)…………………………………………………..
· it cannot be expected (34)…………………………………………………………………
· land is urgently needed (35)………………………………………………………………


7. CLOZE…..fill each of the numbered spaces with an appropriate word taken from the box.

needed but has the obstacle
cannot with suitable learn


A particular ______________(1) which local industrialists have to overcome or ___________(2)
to live with is the shortage of land and __________(3) high price which must be paid for
____________(4) manufacturing sites. The government _____________(5) carried out a systematic
policy of land reclamation _____________(6) this is an expensive and lengthy process. It __________(7)
be expected to keep pace _____________(8) the rapid development of industry, particularly when
land is urgently ______________(9) for housing and other projects.


CLOZE 2

there always an earned but
In not greatest England wrote

Charles Dickens is one of the ______________(1) novelists in the English language.
He _____________(2) about the real world of Victorian ________________(3) and many of his
characters were ______________(4) rich, middle-class ladies and gentlemen, ______________(5)
poor and hungry people. His family lived ___________(6) London. His father was a clerk in
____________(7) office. It was a good job, but he ____________(8) spent more money than he
_______________(9) and he was often in debt. _____________(10) were eight children in the
family, so life was hard.