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Business English Exercises

The GATT System

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Home > Teaching Business English > Business English Lessons, Advanced Level # 406
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Our world emerged from the ......... of World War II in 1945.

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The challenge then was to reconstruct economic stability in the face of ......... disorder and enormous dislocation, to regain a feeling of global community and establish a base for future prosperousness and growth.

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The engineers of a new system had to construct from the ground ........., and they demonstrated vision and far-sightedness; after fifty years of progress raised on the foundations that they laid then, we now often take for granted that which was new and imaginative at at that time.

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The late 1940s was not only about the finish of the most devastating war ever .........; it was also concerned with the control of dangerous economic nationalism and the quest for a new world order.

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Defending a rules-based system on a daily basis has been greatly assisted by the fact that the system gave ......... to the markets rather than the governments in deciding economic outcomes.

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501 Business English Exercises — Printable, photocopiable.
For use in a classroom, at home, on your PC or anywhere.

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The governments ......... their responsibility, but concentrated on creating basic conditions for prosperity and promoting liberalization; they considered direct intervention only under circumstances where markets were thought wanting.

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The key idea of the rules-based system is non-discrimination, and this emerged from the ......... that exclusive dealings and in-groups helped stoke those rivalries and conflicts that drove the community of nations into the Second World War.

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The patchwork ......... of agreements that had undermined the unity and continuity of interwar economic relations was replaced with unified rules.

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And more basically, the non-discrimination principle ......... universality as a central goal of the trade system, guaranteeing that the GATT system would eventually become a force majeure in the integration of the world's economies.

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Answers for the challenges that goverments face today and tomorrow will continue to call for ......... action on a range of fronts.

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Business English Practice Exercises Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
You will be exposed to a wealth of authentic sample sentences that include a great variety of themes. This compact Business English Test Package is the only printable English test collection currently available on the Internet. It contains 501 Business English Exercises (10 questions per test plus answer keys).  Get your unique Business English Practice Exercises now!

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