Asian economies will continue to expand rapidly in the next two years on the back of foreign investments, exports and domestic demand, but will not be free of worries, according to a recent securities company economic report. Massive infrastructure spending, the benefits of past investments and deregulation and growing regional trade will push along regional growth.
The report tipped China’s gross domestic product to grow by 9.5 per cent in 1996 and 10.5 per cent in 1997, and Hong Kong’s to grow by 4.3 and 5.0 per cent. Singapore’s real GDP was forecast to grow by 7.6 and 7.4 per cent, Malaysia’s by 8.6 and 8.1 per cent, Thailand’s by 8.8 and 8.4 per cent, Indonesia’s by 7.3 and 7.1 per cent and Philippines’ by 5.6 and 5.8 per cent.
“However, all is not rosy,” cautioned the report, which listed overheating as the region’s biggest challenge in the short term and skilled-labor shortages in the long run.
It cited strains from rapid growth that had begun to stretch current account deficits and spur inflation in some regional economies, which could prevent their central banks from lowering interest rates.
“This implies that economic vulnerability to unexpected shocks will remain high,” the report said, forecasting a further tightening of monetary policy in countries such as the Philippines and Malaysia, and no significant easing in Thailand, Indonesia and China.
Crosby Securities also cited massive new investment programs generated by demands on infrastructure such as power, telecommunications and transport which had fuelled over-heating.
It said Asia would also face a bigger challenge from newly deregulating economies in Eastern Europe which offered lower costs and better-educated workers to foreign investors.
Asia’s main foreign investors should, however, continue to expand their presence in the region, the securities house said, noting new trends of intra-Asian investment.
Singapore is shifting its lower value-added disc drive and electronics industry to Malaysia, which in turn is moving some of its garment-making and consumer electronics manufacturing to Indonesia and Thailand. Thailand, Malaysia and Singapore are increasingly investing in Viet Nam, Myanmar and Laos.
“Asia will benefit from this trend in several ways,” the report said.
( )1Asia economy will continue to grow because of _____________.
A. foreign investment B. demands in Asian countries.
C. export D. all of the above
( )2 In the next 2 years, the highest economic growth will appear in ____________.
A. Singapore B. Thailand
C. Hong Kong D. China
( )3 Years later, the problem in Asian economy may be _________________.
A. too little investment B. too much investment
C. not enough qualified labors D. monetary instability
( )4 According to this report, economic changes in East Europe are ___________.
A. harmful B. challenging
C. helpful D. useless
( )5 The report is about the prospect of Asian economy.
A. optimistic B. pessimistic
C. more optimistic than pessimistic D. more pessimistic than optimistic
1. D 2. D 3. B 4. B 5. C
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Trouble with Teamwork
Mary Owen examines the role and efficiency of teams
Recruiters say that candidates who can give examples ofwork they have done as members of a successful team are in asstrong a position as those who can point to significant individualachievement. Indeed, too much of the latter may suggest thatthe person concerned is not a 'team player' - one of the moreserious failings in the book of management.
The importance of being a team player is a side effect of the increasing interaction acrossdepartments and functional divides. Instead of pushing reports, paperwork and decisions aroundthe organisation, 'teams provide a dynamic meeting place where ideas can be shared and expertisemore carefully targeted at important business issues,' says Steve Gardner, in his book KeyManagement Concepts. He adds, 'Globalisation has added a further dimension to teamwork.Multinational teams now study policy decisions in the light of their impact on the local market.'
But is teamworking being overdone? 'Some managers are on as many as seven or eightdifferent teams', says Dr Cathy Bandy, a psychologist who recently ran a conference on thesubject. 'They take up so much time that managers can't get on with core tasks.' Forming teamsand having meetings has, she says, become an end in itself, almost regardless of purpose. There isalso the danger of an unhealthy desire to keep the team going after the work has been done. 'People feel the need to belong, and team membership can provide a kind of psychologicalsupport.'
The idea behind teamworking is that, when the right group of people is brought together, a'force' develops which is greater than the sum of their individual talents. This is often true in sport,where good players can reach unexpected heights as members of an international team.However,few business situations have as clear a set of objectives, or as clear criteria of success orfailure, as winning a match.
'In business, everyone needs to be clear about what the challenge is and whether a team isthe right way of approaching it', says Steve Gardner. 'Unfortunately, people focus instead on whothe members of the team should be and what roles they are to play' Dr Bandy agrees. 'There isalways a danger that teams can turn into committees,' she says. 'In a lot of situations, one or twoindividuals would be much more effective.'
So what makes a successful team? There are some general qualities that have been identified.Steve Gardnerrecommends that in every team there should be someone who is good atresearching ideas and another who is good at shooting down impractical ones. There should bethose who can resolve the tensions that naturally occur in a team and others who are focused ongetting the job done. Also, providing a clear and achievable target at the outset is the best way ofensuring that the team will move on to greater things.
13、 What point does the writer make about teamworking at the beginning of the article?
A It is the most successful form of management.
B It has changed the recruitment procedure in companies.
C Well-run teams still allow individuals to demonstrate their talents.
D Being a team player is now considered an essential management skill.
14 、According to the article, teamwork developed within companies as a response to
A modern office design.
B changing work practices.
C a reduction in administrative tasks.
D the expansion of international business.
15 、In the third paragraph, Dr Bandy suggests that
A many employees do not enjoy working in teams.
B some managers are not very effective team leaders.
C some teams are created unnecessarily.
D few teams are well organised.
16 、According to the writer, teamwork is more effective in the field of sport because the players
A know what they want to achieve.
B are more competitive by nature.
C have more individual talent.
D can be driven by national pride.
17 、Steve Gardner and Dr Bandy agree that when a business team is created people do notpay enough attention to
A the structure of the team.
B alternatives to the team.
C selecting the team members.
D directing the team's activities.
18、 What is Steve Gardner's advice on operating a successful team?
A Maintain a flexible approach to membership.
B Allow personalities to develop within the team.
C Select people who fit naturally into certain roles.
D Make every effort to avoid conflict between members.
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