Passnge 2 What's more, currency movements over the past years have unexpectedly made matters worse for many producers. In the first half of the 1980s, it was conventional wisdom to say that the exceptional strength of the dollar was partly responsible for-and helped to offset-the increasing weakness of dollar-denominated commodity prices. All other things being equal, so the argument went, a subsequent fall in the dollar might be expected to give compensating boost to dollar commodity prices.But now the dollar has fallen, and the very reverse has happened: commodity prices have continued to tumble from the peak they reached in the second quarter of 1984. When calculated in a more representative basket of currencies, such as the Special Drawing Right, the fall looks even more precipitous. In May of this year, for example, the IMF's food price index was a further 10 per cent below its level in the second quarter of 1985.39.Could the commodity-exporters profit much from importing from the U. S. when dollar appreciated? Why?

Passnge 2 What's more, currency movements over the past years have unexpectedly made matters worse for many producers. In the first half of the 1980s, it was conventional wisdom to say that the exceptional strength of the dollar was partly responsible for-and helped to offset-the increasing weakness of dollar-denominated commodity prices. All other things being equal, so the argument went, a subsequent fall in the dollar might be expected to give compensating boost to dollar commodity prices.But now the dollar has fallen, and the very reverse has happened: commodity prices have continued to tumble from the peak they reached in the second quarter of 1984. When calculated in a more representative basket of currencies, such as the Special Drawing Right, the fall looks even more precipitous. In May of this year, for example, the IMF's food price index was a further 10 per cent below its level in the second quarter of 1985.40.Why is Special Drawing Right adopted generally speaking?

Passnge 2 What's more, currency movements over the past years have unexpectedly made matters worse for many producers. In the first half of the 1980s, it was conventional wisdom to say that the exceptional strength of the dollar was partly responsible for-and helped to offset-the increasing weakness of dollar-denominated commodity prices. All other things being equal, so the argument went, a subsequent fall in the dollar might be expected to give compensating boost to dollar commodity prices.But now the dollar has fallen, and the very reverse has happened: commodity prices have continued to tumble from the peak they reached in the second quarter of 1984. When calculated in a more representative basket of currencies, such as the Special Drawing Right, the fall looks even more precipitous. In May of this year, for example, the IMF's food price index was a further 10 per cent below its level in the second quarter of 1985.41.Why does it imply that the fall looks even more precipitous when calculated in the Special Drawing Right?

To promote trade and innovation, the draft agreement offers new safeguards to owners of intellectual property. It brings trade in services into the GATT for the first time, opening new foreign markets to efficient producers of services in America and Europe. America's ambitious early goals for farm-trade liberalization will not be fully met by the compromise that is now within reach; but even in farming, a half-successful will deliver great benefits. And if this package can be banked, future rounds will be obliged to argue over how much to cut farm protection, not whether-an achievement in itself.

Our 【leading】 export markets within the European Community are Germany and the United Kingdom.

Assembly manufacturing can be 【eligible】 for exemption from customs duties and taxation.

A 【uniform】 income-tax rate is applied for every factory or business established in the SEZs.

China has the most 【dynamic】 economy in the world today.

The northeast used to be a 【moribund】 center of state industry in China.

The volume of 【merchandise】 exports of developing countries declined by 2% last year.