VOA Economic Report

There are list lesson of voa economic report:

	Economic Report - What the US 'Debt Ceiling' Means
	Economic Report - How Stress Affects Mental Bandwidth
	Economic Report - Reopening of Kaesong Industrial Complex
	Economic Report - South Africa Faces Labor Imbalance
	Economic Report - A Way for Some Wealthy Investors to Get US Visas
	Economic Report - Future Uncertain for African Growth and Opportunity Act
	Economic Report - How a California City Wants to Rescue Struggling Homeowners
	Economic Report - Chinese Exports to North Korea Fell During First Half of 2013
	Economic Report - Kenya's Mineral Discoveries Produce Mixed Feelings
	Economic Report - Detroit Files for Bankruptcy
	Economic Report - US Wine Makers Seek to Raise Sales in China
	Economic Report - Economic Concerns Fueled Brazil Protests
	Economic Report - African Countries Put Pressure on China
	Economic Report - African Countries Put Pressure on China
	Economic Report - China Increases Food Imports
	Economic Report - China and the 'Ham Capital of the World'
	Economic Report - Calls for Action Against Tax Havens
	Economic Report - Some New Nurses Have Trouble Finding Jobs
	Economic Report - Chinese Interest in South Africa Grows
	Economic Report - Concerns Grow About Pakistan's Economy

Economic Report - Concerns Grow About Pakistan's Economy

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--	14th.	Capriles	For	He	Maduro	Venezuela	about	care	has
imports	investment	is	needs	oil	on	reduced	showed	the	to
winner

is facing a number of economic problems. Inflation is putting pressure many businesses. Rotzen Villabon owns a gift store. But his business American dollars to import products made in China. He is unable exchange Venezuelan money for dollars at the official exchange rate of 6.5 bolivares to the dollar. He says the supply of dollars even limited on the black market, where dollars cost much more. says that is why business at his store is down. Venezuela the highest rate of inflation in South America. In February, Venezuela the value of its currency by one third, which has made more costly. The economic troubles have resulted in shortages of products - - from necessities like food to beauty products. Venezuela is a major exporter. The nation's oil wealth paid for many social programs during 14-year-rule of former president Hugo Chavez. But Venezuela's recent presidential election there are divisions in the country. Nicolas Maduro was declared the of a close election over opposition candidate Henrique Capriles on April Mr. Capriles disputed the vote and called for a recount. Henrique is a lawyer. He promised to open the economy to foreign . Nicolas Maduro is former union leader. He served as vice president Mr. Chavez before the president died of cancer last month. Mr. promised to continue the social policies and programs of Mr. Chavez. supporters, the election was about saving programs for free housing, health and education. For VOA Learning English, I'm Carolyn Presutti.

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Economic Report - Chinese Interest in South Africa Grows

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He	Khan	Learning	Many	Other	Pakistan	Pakistani	YouTube	difficult	five
in	income	is	more	occupational	of	says	so
tax	the	young

Pakistanis are increasingly concerned about their economy. Zafar Saeed directs an training center in Islamabad, the capital. For the past 10 years, center has trained thousands of people for work in an increasingly economy. Now, the business is struggling with issues ranging from loss electricity to inflation. Zafar Saeed blames the government for the situation. says his organization has suffered big financial losses in the last years. One of the reasons is long power outages. Another reason that inflation makes it hard for people to pay his fees they can learn skills that lead to income.

people share his opinion. Street protests against power outages are common Pakistan. Some outages can now last an entire day. Ashfaque Hassan is a professor at the NUST Business School in Islamabad. He there has been too little political will to fix the national system. Less than one percent of Pakistan's 180 million people pay taxes. About 70 percent of federal lawmakers did not complete any tax documents last year. As Professor Khan notes, that makes it difficult to ask major donors to the country for help. He other nations question why they should provide Pakistan with aid when does not tax its own wealthy citizens.

Sixty percent of the population is under the age of 25. Opinion surveys show that people are most concerned about economic problems and corruption.

For VOA English, I'm Laurel Bowman.) You can watch more captioned videos at VOA Learning English website and the VOA Learning English channel on

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Economic Report - Some New Nurses Have Trouble Finding Jobs

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Airways	BRICS	Europeans	The	Tourism	championship	grew	has	home	in
increase	industry	last	member	number	smaller	started	to	visa
visitors

number of people visiting South Africa grew by almost 10 percent year. One country making that number grow is China. Chinese investment been increasing in South Africa. So has the number of Chinese to the country. China sends the fourth largest number of tourists South Africa. More than 130,000 Chinese tourists went there last year. remain the biggest tourism group. But the percentage of Chinese tourists by 56 percent from 2011 to 2012. Beverly Schafer is a of Cape Town's city government. She represents an

area that is to a famous soccer stadium. She says the number of visitors the country increased after South Africa hosted the World Cup soccer in 2010. South Africa's travel industry has been noting the growing of Chinese tourists. Mariette Du Toit-Helmbold has worked with Cape Town . She says the industry is looking for Chinese-speaking guides and has

providing information in Mandarin Chinese. There are several reasons for the in Chinese tourists. One could be South Africa's inclusion in the economic group, which also includes China. Also, South Africa recently added application centers in Beijing and Shanghai. And last year, South African added direct flights between Beijing and Johannesburg. Traditionally, Cape Town's tourism has been directed toward Europeans and Americans, who often travel in groups or as couples. However, Chinese tourists often prefer to travel larger groups. For VOA Learning English, I'm Mario Ritter.

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Economic Report - Calls for Action Against Tax Havens

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About	English	a	as	changing	complete	early	easier	for	has
hoping	in	job	many	nurses	nursing	the	to	trouble

one-third of new nursing graduates in the United States are having finding work. Alexandra Bauernschub is finishing a master's degree program at University of Maryland. She has done well in the program, earning highest grade point average possible. But she is worried because she not received job offers. Yet there is hope for nurses who studies at four-year schools or graduate level programs. They have an time finding a job in health care than nurses graduating from two-year degree program. Experts say there are fewer job openings because in their 50s and 60s are delaying retirement. These workers are to rebuild the savings they lost a few years ago during financial crisis. Jane Kirschling is head of the University of Maryland's school. She says weak economic conditions have created tensions in the market. The number of students entering nursing school has risen sharply recent years. At the same time, the United States is preparing the retirement of millions of "-.baby-boomers-." That is the name given Americans born between the end of World War Two and the 1960s. Hundreds of thousands of nurses are expected to retire just people their age need more medical care. Health care laws are in the United States. Health experts say they expect demand for to care for the sick and aged to grow. They say older nurses will retire if the economy improves. This would create openings for younger nurses and recent college graduates. For VOA Learning , I'm Alex Villarreal.

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Economic Report - China and the 'Ham Capital of the World'

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Africa	Chancellor	City	In	India	June	Kofi	She	charity	countries
critics	development	discuss	operations	profits	says	such	tax	territories	wealthy
where	world's

Britain, demonstrators recently protested outside the Treasury to call on the richest countries to act against tax havens. These are countries or that have low tax rates for businesses. Companies can place their in tax havens to avoid the higher tax rates of countries they earned the income. An investigation found that tax havens cost $38 billion every year in lost taxes. Former United Nations secretary-general Annan led the investigation. The demonstrators at Britain's Treasury called on George Osborne to discuss the practice with finance ministers from other countries. Melanie Ward is with the "Enough For Everyone If" campaign. said she believes many people in Britain and the world oppose tax avoidanceTax havens and low-tax countries like Ireland are popular. But of tax havens say big companies transfer profits out of the on which their income depends. Ronen Palan is a professor at University London. He says capital in some African countries is funding in other parts of the world because of such transfers. The ActionAid says the brewing company SABMiller uses a complex system of havens. It says this system moves profits out of the company's in developing countries like Ghana. SABMiller denies any tax abuses. It in 2010 it paid about $250 million in corporate taxes in and sub-Saharan Africa. British Prime Minister David Cameron has promised to the issue of tax havens at the G8 leaders meeting in . For VOA Learning English, I'm Laurel Bowman.

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Economic Report - China Increases Food Imports

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American	China	English	Foods	He	Smithfield	The	are	believes
brought	doing	ham	in	is	ocean	on	purchase
stockholders	turned	was

Chinese meat processing company Shuanghui International is proposing to buy the ham and pork producer Smithfield Foods. It would be the biggest of an American company by a Chinese buyer. Ham and pork the meat of pigs. Virginia ham is famous around the world. town of Smithfield, Virginia, where the company started, calls itself the capital of the world. Larry Santure is the sales manager for FoodsHe says the explorer Marco Polo brought a basis for curing to Italy from China. He says this kind of cured ham out to be the prosciutto that we know today. Later, settlers the formula for making prosciutto with them to the United States. says the main reason Smithfield became the center of ham processing because local Native Americans had methods for producing salt from nearby water. Virginia Wade manages a store that specializes in ham made Smithfield. She says the ham is aged at least six months salt. She says the uncooked hams are similar to ham in . Before Smithfield Foods can be sold to the Chinese company, the must be approved by the American government and by Smithfield Foods . There have been concerns in the past about some Chinese companies business in the United States. But Gary Hufbauer expects the Committee Foreign Investment in the United States to approve this purchase. He with the Peterson Institute for International Economics in Washington. Mr. Hufbauer the Chinese company is buying the world's good opinion of Smithfield , including the quality and safety of its products. For VOA Learning , I'm Carolyn Presutti.

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Economic Report - African Countries Put Pressure on China

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41	A	Angel	Food	Imports	Learning	OECD	The	and	because
double	food	for	grain	in	meat	milk	of	pork
say	that	three	world

new report says China's demand for food imports will sharply rise the next 10 years. The United Nations Food and Agriculture Organization the Organization for Economic Cooperation and Development made the prediction. They China will increase its imports of grains, oil seeds and meat. Gurria is secretary-general of the OECD. He says China's need for is growing at a time when world food production is decreasing. to China are expected to grow at a yearly rate of percent to 1.7 million tons by the year 2022. China's imports crops used to feed animals, called coarse grains, are expected to by 2022. And imports of oil seeds are predicted to rise percent. Angel Gurria says China's economic growth is fueling its hunger imports. He says the country already has a big effect on food markets. Jose Graziano Da Silva is the head of the and Agriculture Organization. He says reducing the large amount of food is now wasted would help meet the growing demand for food. rise in the Chinese demand for food is expected to cause and other commodity prices to rise. Businesses are taking new steps of China's influence on world food trade. Last month, the Chinese processing company Shuanghui announced a $7 billion offer for the American company Smithfield Foods. China is already the world's biggest importer of and soybeans. It is expected to become the world's biggest consumer pork, passing the European Union within 10 years. The FAO and say that will cause international pork prices to rise. For VOA English, I'm Alex Villarreal.

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Economic Report - African Countries Put Pressure on China

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2009.	Bowman	Chinese	Ghana	Ghanaians	Some	and	because
believe	exports	has	hospitals	more	no	now	of	oil	says
the	three

arrested more than 100 Chinese nationals in June. They were accused illegally mining gold. In February, Zambia seized a Chinese operated mine of safety concerns. And Gabon has decided to seize property from foreign oil companies, including one from China. Some observers say these other incidents appear to be a reaction by African governments against investment on the continent. China became Africa's top trade partner in Yet some Africans believe they are not getting enough for their . Bright Simons is with the IMANI group. He says China is longer known only for giving loans and sending workers to build and roads. He says China is now a business partner. Ghana taken steps against foreigners involved in "shallow mining" for gold. Only can get government approval for this kind of mining. Bright Simons some Ghanaians "rent" the permits to foreigners who have the money training to actually mine the gold. Observers say nations like Niger Gabon want to get more for their natural resources. They want money, more local jobs and better living conditions. Worldwide demand for , coal, iron ore and uranium has made their negotiating position stronger. nations are also concerned about abusive or illegal operations. In Gabon, government says it is planning not to extend operating permits to companies, including Addax, which is part of China's Sinopec. Many experts the partnership between China and Africa will continue to grow, but perhaps on more equal terms. For VOA Learning English, I'm Laurel .

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Economic Report - Economic Concerns Fueled Brazil Protests

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2016	Brazil	But	Demonstrators	Economic	English	It	Rousseff	The
a	action	and	announced	country	hold	in	plebiscite	six	to
with

concerns have been at the heart of the recent protests in . Brazilian President Dilma Rousseff answered growing public unrest over government spending economic concerns. On June 24, she proposed a popular vote, or , on a constitutional process to make reforms needed by the countryPresident also described a $23 billion spending plan. The money would go public transportation and would support investment in education and health care. Brazilian leader also promised to fight political corruption. President Rousseff met state governors, city mayors and protest leaders in the capital, Brasilia. is estimated that one million people took part in protests across . Demonstrators are angry that the government is spending billions of dollars public money in preparations for two huge sporting events. Brazil will the FIFA World Cup soccer championship next year and then the Olympic Games two years later. The protests started when the government it would increase transportation costs, such as bus and subway fares. the protests soon turned to other economic issues, and spread. As result, the government suspended its plans for the transportation fare increases. have been demanding better health care, education and public transportation and against corruption. As Brazil prepares for the major sporting events, the is also facing rising inflation. The inflation rate is now over percent, which is higher than the government's target. For VOA Learning , I'm Mario Ritter.

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Economic Report - US Wine Makers Seek to Raise Sales in China

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Sauvignon	Two	a	also	called	company	exported	exports
for	include	is	known	of	one	part	where	wineries
winery	world

American wine producers are hoping to increase their sales in China, the country's growing middle class is drinking wine. The United States just 74 million dollars in wine to China last year. But are growing at a rate of nearly 20 percent a year. years ago, former basketball star Yao Ming launched a wine company Yao Family Wines. It is based in California's Napa Valley ---- of the top wine producing areas in the world. Tom Hinde with Yao Family Wines. He says the vineyard grows only Cabernet grapes because many people in China like red wine. The small makes a costly product. Its top cabernet sells for 625 dollars bottle. Napa Valley's Black Stallion Winery also looks to China as promising market. Holly Evans works for the company. She says the has two wines that are sold throughout the United States and in China. Many moderately priced wines are exported to China. They some from the San Antonio Winery in Los Angeles. Fifteen percent its production goes to ChinaThe Wine Institute represents more than 1,000 and allied businesses through California. Spokesperson Linsey Gallagher says her group always receiving requests from China. But she says the country is problem for marketing. She says that, in China, it is not that California is the fourth largest wine producing area in the , producing many kinds of wine. Winemakers hope to expand the market fine dry wines, including white wines, which are now a small of the Chinese marketFor VOA Learning English, I'm Alex Villarreal.

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Economic Report - Detroit Files for Bankruptcy

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Detroit	Learning	a	at	came	car	city's	country's	court
do	expert	have	hurt	is	large	more	moved	reduce	said
the	to

Mayor Dave Bing had to report some bad news recently. He Detroit was seeking bankruptcy protection. The move would give the city protection from creditors. The decision to declare bankruptcy is an effort restructure and reduce debt. It comes at a difficult time for . In March, Michigan Governor Rick Snyder named Kevyn Orr, a bankruptcy , to oversee the city's financial problems. Detroit has been struggling to a budget deficit of more than $300 million. In addition, the long-term debt has increased to at least $18 billion.

Detroit's problems grown over many years. Michigan State University professor Eric Scorsone says city depended too much on one industry: automobile manufacturing. Jobs with makers were a big reason why Detroit was one of the largest cities half a century ago. In the 1950s, it had population of about 1.8 million people. Today the number is down less than 800,000. Robin Boyle is a professor of urban planning Wayne State University. He says, over the years, many Detroit residents to areas outside the city or even left the state. That Detroit's ability to invest in itself. It is rare for a American city of seek bankruptcy protection. In 1975, New York City close before the federal government agreed to provide money. Detroit, however, the largest city to seek bankruptcy.

Now, a federal judge is consider Detroit's request. One of the main issues is what to about the retirement pay of city workers. Currently, there are many retired workers than those paying into the pension system. For VOA English, I'm Alex Villarreal.

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