【Unlocking Word Meanings】
Read the following words/expressions found in today’s article.
1. summit /ˈsʌmɪt/ (n.) – an important meeting of leaders or key officials, often from different nations
Example: Our president attended the summit to discuss peace negotiations.
2. delegate /ˈdɛlɪgɪt/ (n.) – a country’s or an organization’s representative for a formal meeting or gathering
Example: The UN delegates from all over the world gathered at the annual convention.
3. subsidize /ˈsʌbsɪˌdaɪz/ (v.) – to help pay for something
Example: The government subsidizes health care for senior citizens.
4. fleet /flit/ (n.) – large group of ships
Example: The fishing fleet sailed early today.
5. settle /ˈsɛtl/ (v.) – to have an agreement or decision that fixes a problem
Example: The officials settled the budget shortage last week.
Read the text below.
Fishing in the open ocean may no longer be profitable and should therefore be banned, says an economist during the recent World Ocean Summit held in California.
Martin Stuchtey [STUHK-tey] from management consulting firm McKinsey [muh-KIN-zee] & Company, spoke to various delegates from different countries about how much countries are losing from this fishing practice.
According to Stuchtey, many nations subsidize their fleets to go farther into the open ocean because of the decreasing marine resources. Statistical data also show that the fishing industry is experiencing high losses that lead to lower income.
With this situation, Stuchtey suggested that fishing in the high seas should be banned, as it is no longer a profitable investment. He added that doing so will cut down government spending and increase financial savings. Also, Stuchtey stressed that the ban could give time for the high seas to recover from the current loss of resources.
Most attendees agreed with Stuchtey’s suggestion, saying that marine life needs careful attention. World Bank vice president Rachel Kyte [kayt] stated that leaders should also take natural resources into consideration when designing economic strategies.
U.S. Secretary of State John Kerry and Prince Albert II of Monaco [MON-uh-koh, muh-NAH-koh] were among the speakers who also encourage other leaders to save the fisheries and other sea resources. More than just the economic value, the ocean sustains people’s lives. Issues like illegal fishing and chemical pollution will continue to threaten marine life if world leaders do not settle the situation.
Enjoy a discussion with your tutor.
· Do you agree with banning fishing in the high seas? Why or why not?
· What do you think are the disadvantages of this? Please explain your answer.
· What other natural resources do you think can boost a country’s economy?
· How can people take care of these natural resources?