self-assessment

It was very hard for me to listen and understand that report . I've understood small parts of it, which i've written. Some noises in that report hindered my concentration. Sometimes the reporter spoke very fast and i could not understand him and guinean journalist, which spoke with accent.

Guinea

I've listened to report about economic and financial situation in Guinea.Guinea is the one of the largest export-country in the world. Inspite of that Guinea is very cash poor. Guinea is called local scandal. It is rich by minerals, gold and diamonds, but people have very little profit from that. New government has promised to struggle with corruption and follow business interests. The previous government has chosen to negotiate a lot of contracts with home producers. According to guinean financial journalist, the govenment wanted to win a support of guineans by increasing capital. After that a lot of factories and plants were closed. People were indignant by corruptoin and exploitation. They had decided to hold peaceful demonstration, which was dispersed by soldiers. The government ordered to open fire. After this the investigation was hold.
There also a lot of disputes about contract between China and Guinea. The Chinese International Fund has decided to invest 79 billion of dollars in infrastructure of Guinea. It does not look realistic, because it is impossible to invest in a place, which so financially limited.

self-assessment

I want to admit that i have some difficulties in listening. First, i do not know enough terms and words,but i know i will learn them! Second, i should get used to different pronounciations, accents and fast speaking.

Capitalism in communist China

I have listened interview with professor of Cambridge University about the model capitalism in China. Capitalism means that firms and consumers can make their own decisions, but communism makes decisions centrally. Journalist and professor are discussing how these 2 models can co-exist in the same space. In communism a big part of firms is monopolized be state and controlled in prices. If a person wants to be individual in China and he has a bright idea, he will has one problem: private sector has not channel to raise money, because part of banks is controlled by central government. So it is hard to raise money through bank system. Good way for interpreneurs is to identify some business opportunities in local government sector and ask help from it. In this case it helps get money from bank to do business. China is country where state controls capitalism to activate economy and provide market with supply . According to professor, Chinese workers has a more freedom now than before, they can move from city to city. Financial system is the top of China. It is very important to make the system more flexible to accomodate eventual capital requirements. Government also try to solve the problem of riches and poors, which can destroy the society.