__youacceptouroffer,pleasecableusorourconfirmation.

Thereisatree____agroupofLeaguemembersoftenplaychess.

Asianeconomieswillcontinuetoexpandrapidlyinthenexttwoyearsonthebackofforeigninvestments,exportsanddomesticdemand,butwillnotbefreeofworries,accordingtoarecentsecuritiescompanyeconomicreport.Massiveinfrastructurespending,thebenefitsofpastinvestmentsandderegulationandgrowingregionaltradewillpushalongregionalgrowth.

ThereporttippedChina’sgrossdomesticproducttogrowby9.5percentin1996and10.5percentin1997,andHongKong’stogrowby4.3and5.0percent.Singapore’srealGDPwasforecasttogrowby7.6and7.4percent,Malaysia’sby8.6and8.1percent,Thailand’sby8.8and8.4percent,Indonesia’sby7.3and7.1percentandPhilippines’by5.6and5.8percent.

“However,allisnotrosy,”cautionedthereport,whichlistedoverheatingastheregion’sbiggestchallengeintheshorttermandskilled-laborshortagesinthelongrun.

Itcitedstrainsfromrapidgrowththathadbeguntostretchcurrentaccountdeficitsandspurinflationinsomeregionaleconomies,whichcouldpreventtheircentralbanksfromloweringinterestrates.

“Thisimpliesthateconomicvulnerabilitytounexpectedshockswillremainhigh,”thereportsaid,forecastingafurthertighteningofmonetarypolicyincountriessuchasthePhilippinesandMalaysia,andnosignificanteasinginThailand,IndonesiaandChina.

CrosbySecuritiesalsocitedmassivenewinvestmentprogramsgeneratedbydemandsoninfrastructuresuchaspower,telecommunicationsandtransportwhichhadfuelledover-heating.

ItsaidAsiawouldalsofaceabiggerchallengefromnewlyderegulatingeconomiesinEasternEuropewhichofferedlowercostsandbetter-educatedworkerstoforeigninvestors.

Asia’smainforeigninvestorsshould,however,continuetoexpandtheirpresenceintheregion,thesecuritieshousesaid,notingnewtrendsofintra-Asianinvestment.

Singaporeisshiftingitslowervalue-addeddiscdriveandelectronicsindustrytoMalaysia,whichinturnismovingsomeofitsgarment-makingandconsumerelectronicsmanufacturingtoIndonesiaandThailand.Thailand,MalaysiaandSingaporeareincreasinglyinvestinginVietNam,MyanmarandLaos.

“Asiawillbenefitfromthistrendinseveralways,”thereportsaid.

()1Asiaeconomywillcontinuetogrowbecauseof_____________.

A.foreigninvestmentB.demandsinAsiancountries.

C.exportD.alloftheabove

()2Inthenext2years,thehighesteconomicgrowthwillappearin____________.

A.SingaporeB.Thailand

C.HongKongD.China

()3Yearslater,theprobleminAsianeconomymaybe_________________.

A.toolittleinvestmentB.toomuchinvestment

C.notenoughqualifiedlaborsD.monetaryinstability

()4Accordingtothisreport,economicchangesinEastEuropeare___________.

A.harmfulB.challenging

C.helpfulD.useless

()5ThereportisabouttheprospectofAsianeconomy.

A.optimisticB.pessimistic

C.moreoptimisticthanpessimisticD.morepessimisticthanoptimistic

WhichjobatHudsonswillPamapplyfor?

PerksandFitness:NoLongeraNicetybutaNecessity