Future Global Economy

An American man talks about what could potentially happen to the global economy in the next 5 years.

Self Study

Dictation

Listen to the dialogue in the episode again. Try to write down what they say and then check with the answers below.

Transcript

Ok, (the) next question is 'What do I think will happen in the global economy in the next five years?'

In the next five years, I don't know that a lot will change. In terms of things like, you know, global economies, and technology, and different changes worldwide, I think they tend to come a bit slower than we think they will.

I remember back in 2000, when I was thirteen, watching news programs and stuff saying "Oh, by the year, you know, 2005, we're going to have flying cars and electric cars". And it wasn't that we didn't have the technology to actually do that, it was more that a lot of the companies, like oil companies, a lot of bigger companies that have an interest in, you know, sticking with the old ways, kind of jump in and try to stop change. So I think that has a lot to do with the global economy.

Also I think a lot of the, I think the United States is really going to have to learn to start to working better with other nations. I think China's, in the next five years, China's going to be the biggest, if not already, they might be already but, I think they're going to be the biggest, you know, global power, out there. And I think the United States really needs to learn to work better with them.

There are a lot of, just in the last five years, technology advancements. There are a lot of other countries that are really, you know, getting out there into the global economy and making themselves better known. Say Japan, South Korea, Australia, and Canada, the ones that I can think of. But I think that in the next five years we will see a lot of the other countries having a much larger global presence, so it's not just, I mean, say in the past where it might have just been, you know, a lot of the European countries, or the United States.

But I think that the U.S. will really need to make some changes and learn to work better with other larger nations out there.

So yeah, that's what I think will happen in the next five years.