Pre-reading questions:
I will read each question. Then, please answer them.
- What does “global economic growth forecast” refer to? How might such forecasts impact different countries?
- Can you name any factors that could affect global economic growth positively or negatively?
Vocabulary:
I will read the words, meanings, and sample sentences. Then, repeat after me.
- improvement /im-PROOV-muhnt/
- barrier /BARE-ee-er/
- conflict /KON-flikt/
- project /PROH-ject /
- estimate /ES-tuh-mit/
[noun] – the act or process of making something better
Despite the improvement in technology, there are still many challenges to overcome.
[noun] – something that prevents movement or access; an obstacle
Language barriers can make it difficult for people from different countries to communicate effectively.
[noun] – a serious disagreement or argument, typically a protracted one
The conflict between the two neighboring countries has lasted for over a decade.
[verb] – to estimate or forecast something based on present trends
Experts project that global temperatures will continue to rise if carbon emissions are not reduced.
[noun] – a rough calculation or guess
The engineer’s estimate for the cost of repairing the bridge was surprisingly low.
Article reading:
Please read the whole article. Then, I will check your pronunciation and intonation.
The World Bank has revised its 2024 global economic growth forecast upward to 2.6%, up from an earlier 2.4%, similar to last year’s rate. Despite this improvement, growth remains historically slow. Low-income nations struggle with high debt and interest rates. Trade barriers and conflicts in Ukraine and Gaza add further challenges. The stronger growth outlook is driven by robust performance in the United States, projected at 2.5% for 2024, up from a previous estimate of 1.6%. High interest rates persist to curb inflation, which, though lower, remains a concern, suggesting prolonged rate hikes may slow growth.
Emerging markets and developing countries are projected to grow at 4% this year, a slight decrease from last year. China is experiencing economic challenges, with growth expected to slow to 4.8%. Other regions, such as Latin America and sub-Saharan Africa, also face slower growth. In Europe, growth in the eurozone is expected to remain weak due to the effects of the Russia-Ukraine conflict. Japan’s economy is also forecast to slow down because of weak consumer spending and exports. Global trade growth is anticipated to be minimal, which could further hinder economic expansion. The World Bank stresses the importance of international cooperation to address these trade issues, rather than increasing barriers.
Emerging markets and developing countries are projected to grow at 4% this year, a slight decrease from last year. China is experiencing economic challenges, with growth expected to slow to 4.8%. Other regions, such as Latin America and sub-Saharan Africa, also face slower growth. In Europe, growth in the eurozone is expected to remain weak due to the effects of the Russia-Ukraine conflict. Japan’s economy is also forecast to slow down because of weak consumer spending and exports. Global trade growth is anticipated to be minimal, which could further hinder economic expansion. The World Bank stresses the importance of international cooperation to address these trade issues, rather than increasing barriers.
Comprehension questions
I will read each question. Then, please answer them based on the article.
- What is one reason why the World Bank revised its 2024 global economic growth forecast upwards?
- How are low-income nations described in relation to economic growth?
- What are some challenges mentioned in the article that could hinder global economic expansion?
- According to the article, why might prolonged rate hikes slow economic growth?
- Which region besides China is mentioned to be experiencing slower economic growth?
Discussion questions
I will read each question. Then, please answer them.
- Have you ever witnessed how global economic forecasts can impact local businesses or job opportunities? If so, in what way? If not, how do you think such forecasts could affect local economies?
- How important do you think it is for governments to adjust policies based on global economic forecasts?
- Do you agree that international cooperation is crucial for addressing global economic challenges like trade barriers and conflicts?
- What are some potential consequences of prolonged slow growth in major economies like China and the Eurozone?
- How might advancements in technology influence future global economic forecasts and growth patterns?