The Globalization of Corruption (part 1)
1. For multinationals, bribery (to enable) companies to gain contracts (particularly for public works and military equipment) or concessions which they would not otherwise (to win), or to do so on more favorable terms. 2. Every year, Western businesses (to pay) huge amounts of money in bribes (to win) friends, influence and contracts. 3. These bribes (to be) conservatively (to estimate) to run to US$80 billion a year roughly the amount that the UN (to believe) is needed to eradicate global poverty. 4. In 1999, the US Commerce Department (to report) that, in the preceding five years, bribery (to believe) to have been a factor in 294 commercial contracts worth US$145 billion. 5. In 1996, the magazine World Business (to report) that the bribes paid by German companies alone (to be) over $3 billion. 6. Not just companies (to involve). According to a French secret service report, the official export credit agency of France (to pay) around $2 billion in bribes to foreign purchasers of defense equipment in 1994.
Fill in the blanks with the proper words.
The Globalization of Corruption (Part 2)
commissions, bribery, business, corruption, included in the costs; five per cent, instead, practice, bribery, companies, access, public authorities
1. Such ________may be pervasive, but it is difficult to detect. 2. Many Western __________ do not dirty their own hands, but ________pay local agents, who get a 10 per cent or so success fee if a contract goes through and who have ________to the necessary slush funds to ensure that it does. 3. __________ is also increasingly subtle. 4. It often takes the form of semi-legal fees or __________, and inflated or marked-up prices. 5. In contracts guaranteed by export credit agencies, such commissions are _____________and thus in the total contract value covered by the guarantee. 6. Until recently, bribery was seen as a normal business __________. 7. Many countries including France, Germany and the UK treated bribes as legitimate ________ expenses. 8. Corruption poses a serious problem for __________and the public because it makes services more costly, undermines development, and distorts democratic processes. 9. The amount of money lost to __________could, and should, be directed towards public services and to the development of democratic institutions. 10. International Commission estimates that, on average, __________of public budgets go astray.
WRITING
Translate into Ukrainian.
Corruption also undermines economic development by generating considerable distortions and inefficiency. In the private sector, corruption increases the cost of business through the price of illicit payments themselves, the management cost of negotiating with officials, and the risk of breached agreements or detection. Although some claim corruption reduces costs by cutting red tape, the availability of bribes can also induce officials to contrive new rules and delays. Where corruption inflates the cost of business, it also distorts the playing field, shielding firms with connections from competition and thereby sustaining inefficient firms.
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Corruption also generates economic distortions in the public sector by diverting public investment into capital projects where bribes and kickbacks are more plentiful. Officials may increase the technical complexity of public sector projects to conceal or pave way for such dealings, thus further distorting investment. Corruption also lowers compliance with construction, environmental, or other regulations, reduces the quality of government services and infrastructure, and increases budgetary pressures on government.
Express in 100 words: What are roots of corruption in Ukraine?
SPEAKING TASKS
You are expected to speak for about three minutes:
1/. What do you know about the origin of the term money laundering?
2/. Prove that money laundering is a truly global phenomenon.
3/. What do you know about money laundering process (placement)?
4/. What do you know about money laundering process (layering and integration)?
5/. Speak about money laundering methods.
6/. What do you know about money laundering in business area?
7/. What do you know about offshore zones? What is the aim of their creation?
8/. Speak about your understanding of corruption. Argue your answer.
9/. Speak about your understanding of bribe. Argue your answer.
10/. What are reasons of corruption?
SUGGESTED TOPICS FOR STUDENTS PROJECT WORK:
