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Business Words in the News

Uzbekistan has formally joined the countries known as the Shanghai Five to form a new regional grouping called the Shanghai Co-operation Organisation. The new group includes China, Russia and four Central Asian states. More details from our correspondent in Central Asia Catherine Davis.
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Shanghai Six flags 15th June 2001

Shanghai Six to strengthen economic links

NEWS 1  
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When the Shanghai Five first met, the key issue was the resolution of outstanding border disputes. Agreement has now been reached on most sections of the border, the military presence along it reportedly scaled down. Economic relations are important too. The bazaars of Central Asia are full of Chinese goods, and traders shuttle back and forth. New transport links are already being built and described in terms as a new 'Silk Road'.


key issue - main point

outstanding - not yet resolved

reportedly - according to some reports

scaled down - reduced, made smaller

bazaars - in many countries of Asia and the Middle East, a bazaar is a market place with many small shops and stalls

shuttle back and forth - here: frequently travel to and from China to bring more goods for sale

Silk Road - the ancient trade route established nearly 2,000 years ago. The Silk Road linked East and West, from China to Rome

NEWS 2  
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China also wants Central Asia's huge resources to fuel its growing economy. Oil deals have been signed and ambitious pipelines proposed. For Central Asia, China offers a counter-balance to Russia and the West. But, among the smaller states especially, there's a lingering wariness of this assertive neighbour, too.


to fuel - if something fuels an economy, it makes it increase

ambitious - an ambitious project is on a large scale and needs a lot of work to be carried out on it

counter-balance - something that has an equal but opposite effect to something else is its counter-balance

lingering wariness - caution that remains

assertive - clearly stating its rights and claims


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