ADMICRO

Read the passage below and choose one correct answer for each question.

Between 1945 and 1973, the economies of the industrialized nations of Western Europe, Japan, and the U. S. grew fast enough to vastly improve living standards for their residents. A similarly favorable growth was registered by some, but far from all, of the developing or industrializing nations, in particular such thriving Southeast Asian economies as Taiwan, Hong Kong, Singapore, and South Korea. After the devastation of World War II, a substantial rebuilding boom, combined with lavish flows of aid from the US, generated rapid growth in Western Europe and Japan. American multinational corporations invested heavily in the rest of the world. Perhaps the most important of all, energy was plentiful and cheap.

Poor nations need aid from the rich nations in the form of capital and of technological and organizational expertise. They also need easy access to the markets of the industrialized nations for their manufactures and raw materials. However, the political capacity of rich nations to respond to these needs depends greatly on their own success in coping with inflation and unemployment. In democratic communities, it is exceedingly difficult to generate public support for assistance to foreign countries when average wage earners are themselves under serious financial pressure. It is not easier politically to permit cheap foreign merchandise and materials to freely enter American and European markets when they are viewed as the cause of unemployment among domestic workers.

Joining the markets of the industrialized nations is the need of many poor countries.

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