VIETNAM IS A DENSELY-POPULATED, DEVELOPING COUNTRY THAT IN THE LAST 30 YEARS HAS HAD TO RECOVER FROM THERAVAGES OF WAR

Exercise 13:Vietnam is a densely-populated, developing country that in the last 30 years has had to recover from theravages of war. Substantial progress was achieved from1986 to 1997 in moving forward from an extremely lowlevel of development and significantly reducing poverty.Since 2001, Vietnamese authorities have reaffirmed their commitment to economic liberalization and internationalintegration. They have moved to implement the structural reforms needed to modernize the economy and toproduce more competitive, export-driven industries. .Vietnam's membership in the ASEAN Free Trade Area (AFTA) and entry into force of the US-VietnamBilateral Trade Agreement in December 2001.have led to even more rapid changes in Vietnam's trade andeconomic regime. Vietnam's exports to the US doubled in 2002 and again in 2003.Vietnam joined the WTO (World Trade Organization) in January 2007, following over a decade longnegotiation process. This should provide ail important boost to the economy and should help to ensure thecontinuation of liberalizing reforms.Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than onemillion people every year. Vietnamese authorities have tightened monetary and fiscal policies to stem highinflation. Hanoi is targeting an economic growth rate of 7.5-8% during the next five years.1. Vietnam's economy is _____________.A. decreasing B. facing crisis C. developing D. backward2. According to the text, Vietnam __________.A. used to be well-developed before 1986 B. Vietnam is still in extreme povertyC. could recover from the consequences of the war soonD. has been modernizing the economy3. Vietnam __________.A. does not export anything to the US B. exported to the US in 2003 twice as much goods as in 2002C. did not export goods to the US in 2002 D. did not export goods to the US in 20034. The wordThisrefers to ___________.A. Vietnam's joining the WTO B. the WTO C. the negotiating process D. the Vietnamese economy5. The wordstemhas a close meaning to ___________.A. succeed B. stop C. originate D. increase