Unlocking Word Meanings
Read the following words/expressions found in today’s article.
1. subsidy (n.) – financial help given to a person or organization
Read the following words/expressions found in today’s article.
1. subsidy (n.) – financial help given to a person or organization
Example: The research group was
able to continue the studies on new medicines because of the government subsidy.
2. recovery (n.)
– the process of returning back to normal or better condition
Example: Doctors expect the continuous
recovery of the patient after the
operation.
3. render (v.)
– to cause something to be in a certain situation
Example: Excellent ideas render one to be an important member of
the company.
4. domestic (adj.)
– within one’s own country
Example: Domestic problems concerns the government more than foreign ones.
5. expire (v.)
– to come to an end; to become no longer acceptable
Example: He has to leave the
company when his contract expires
after six months.
Article
Read the text below.
Japan’s automobile industry
is improving its sales this year with the help of a government subsidy program for eco-friendly
cars.
Each subsidy totals
up to 100,000 yen or $1,245 per eco-friendly vehicle. As a result of the
program, passenger vehicles sales last February increased by 33% compared to sales
for the same month in 2011, while sales for 660cc mini vehicles rose as well
by 25%.
The program gives
big assistance to Japanese carmakers, who are still on recovery from last year’s losses. Factories in Japan were damaged
due to March 11’s quake-tsunami disaster, while floods in Thailand later that
same year also greatly affected car parts production.
In addition, the
high value of the yen has rendered
Japanese cars too expensive for foreign buyers, making it difficult to boost sales.
Between April and October last year, the yen increased by 11% against the US
dollar.
According to
experts, carmakers now want to keep their regular production schedules, but may
end up producing too much supply if low international sales continue. With
the subsidy scheme, there is an increase in domestic demand that can somehow prevent carmakers from further losses.
However, the
subsidy program is limited to only 300 billion yen. Once the amount is
reached, the program will expire, and
experts say car sales may decrease again. In the meantime, Japanese consumers
are taking advantage of the program before it ends.
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Viewpoint Discussion
Enjoy a discussion with your tutor.
Discussion A
·
Should the government help private companies
that are not doing well? Please explain your answer.
·
When do you think is there a need for the
government to provide subsidies?
Discussion B
·
Is it important for people to buy products made
in their own country?
·
How can the government encourage its citizens
to buy local products?
