The Reading / Listening - the U.S. Dollar - Level 4

Russia has suggested the U.S. dollar could lose its status as the global trading currency. The U.S. has put sanctions on Iran, Turkey and Russia, so these countries could start doing business in their own currencies instead. Countries that have had trade tariffs put on them by the U.S. could do the same. China is already doing trade deals in its own currency the yuan. The dollar could lose its role as the international reserve currency.



The U.S. dollar became the international reserve currency in the 1920s. Most global trade takes place using it. If China buys oil from Iran, it pays in dollars. This means billions of dollars flow out of the USA and gives the USA a currency deficit. Russia said: "The grave abuse of the role of the U.S. dollar as a global reserve currency will result...in the...demise of its role." China's currency is emerging as a new trading currency. Nigeria has already started using it.

Try the same news story at these levels:

    the U.S. Dollar - Level 5 or  the U.S. Dollar - Level 6

Sources
  • https://www.forbes.com/sites/charleswallace1/2018/08/14/are-russia-and-china-trying-to-kill-king-dollar/#32c9c9c57948
  • https://www.rt.com/business/436005-dollar-turkey-russia-china-trade/
  • https://www.presstv.com/Detail/2018/08/15/571242/US-dollar-Nigeria-Iran-Russia-Turkey-China-sanctions


Make sure you try all of the online activities for this reading and listening - There are dictations, multiple choice, drag and drop activities, crosswords, hangman, flash cards, matching activities and a whole lot more. Please enjoy :-)



Phrase Matching

Paragraph 1

  1. the U.S. dollar could lose
  2. The U.S. has put sanctions
  3. doing business in
  4. Countries that have had trade
  5. China is already doing
  6. in its own currency
  7. The dollar could
  8. the international reserve
  1. tariffs put on them
  2. lose its role
  3. on Iran
  4. currency
  5. the yuan
  6. their own currencies
  7. its status
  8. trade deals

Paragraph 2

  1. Most global trade takes
  2. it pays
  3. billions of dollars flow
  4. gives the USA a currency
  5. The grave abuse of the role
  6. result in the demise
  7. emerging as a new
  8. Nigeria has already started
  1. out of the USA
  2. using it
  3. of the U.S. dollar
  4. in dollars
  5. trading currency
  6. deficit
  7. place using it
  8. of its role

Listening — Listen and fill in the gaps

Russia has suggested the U.S. dollar could (1) ___________________ as the global trading currency. The U.S. has (2) ___________________ Iran, Turkey and Russia, so these countries could (3) ___________________ in their own currencies instead. Countries that have had (4) ___________________ on them by the U.S. could (5) ___________________. China is already doing trade deals in its own currency the yuan. The dollar could (6) ___________________ as the international reserve currency.

The U.S. dollar became the international (7) ___________________ the 1920s. Most global trade takes (8) ___________________. If China buys oil from Iran, it pays in dollars. This means billions of (9) ___________________ of the USA and gives the USA (10) ___________________. Russia said: "The grave abuse of the role of the U.S. dollar (11) ___________________ reserve currency will (12) ___________________ demise of its role." China's currency is emerging as a new trading currency. Nigeria has already started using it.

Put a slash (/) where the spaces are

RussiahassuggestedtheU.S.dollarcouldloseitsstatusastheglobaltrad
ingcurrency.TheU.S.hasputsanctionsonIran,TurkeyandRussia,soth
esecountriescouldstartdoingbusinessintheirowncurrenciesinstead.
CountriesthathavehadtradetariffsputonthembytheU.S.coulddothes
ame.Chinaisalreadydoingtradedealsinitsowncurrencytheyuan.Thed
ollarcouldloseitsroleastheinternationalreservecurrency.TheU.S.doll
arbecametheinternationalreservecurrencyinthe1920s.Mostglobaltr
adetakesplaceusingit.IfChinabuysoilfromIran,itpaysindollars.Thism
eansbillionsofdollarsflowoutoftheUSAandgivestheUSAacurrencydef
icit.Russiasaid:"ThegraveabuseoftheroleoftheU.S.dollarasaglobalre
servecurrencywillresult...inthe...demiseofitsrole."China'scurrencyi
semergingasanewtradingcurrency.Nigeriahasalreadystartedusingit.

Student survey

Write five GOOD questions about this topic in the table. Do this in pairs. Each student must write the questions on his / her own paper. When you have finished, interview other students. Write down their answers.

(Please look at page 12 of the PDF to see a photocopiable example of this activity.)

Discussion — Write your own questions

STUDENT A’s QUESTIONS (Do not show these to student B)

(a) ________________

(b) ________________

(c) ________________

(d) ________________

(e) ________________

(f) ________________

(g) ________________

(h) ________________

STUDENT B’s QUESTIONS (Do not show these to student A)

(i) ________________

(j) ________________

(k) ________________

(l) ________________

(m) ________________

(n) ________________

(o) ________________

(p) ________________





Free writing

Write about this topic for 10 minutes. Comment on your partner’s paper.

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Answers

(Please check your answers against the article above.

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