Welcome to this editing practice session! Improving your ability to identify and correct errors is crucial for achieving a high score on English proficiency exams. Today’s topic is economic liberalization. Please read the text below, try your best to correct the errors using the checklist, and then compare your version with our corrected text and detailed explanations. Let’s begin!
Error-Filled Text – Practice
Economic liberalization refer to the process where governments reduces restrictions and regulations on economic activitys, usualy involve opening up markets to domestic and foreign competition. The primary rewards touted by proponents includes increased efficiency, greater innovation, and faster economic grow. By allow market forces to allocate resources, it is argue, liberalization can lead to better productivity and lower prices for consumers. Foreign direct invest often flows in more freely, bringing capital, technology, and expertise whom can further stimulate the economy. Export opportunities may also expand as trade barriers is dismantled.
However, economic liberalization is not without significant risk. Rapid opening of markets can expose domestic industrys, particular smaller ones, to intense international competition they are ill-prepare to face. This can resulting in business closures, job loose, and social unrest in affected communitys. Deregulation, if not manage careful, might lead to market failures, such as environmental degradation or financial instabilitys. The asian financial crisis of the late 1990s serve as a cautionary tale about the dangers of hasty financial liberalization without strong regulatory oversight mechanisms been in place.
Furthermore, the benefits of liberalization is not always distributed equaly. It can exacerbate income inequality, with gains accrueing disproportionately to capital owners and skilled labour while low-skilled workers may face wage stagnation or job insecurity. There are also concerns that liberalization can lead to a erosion of social safety nets as governments faces pressure to reduce public spending. Therefore, manageing the transition careful is crucial. This involve implementing reforms gradual, provide support for displaced workers, strengthen regulatory frameworks, and ensure that appropriate social policies is in place to mitigate the adverse consequence. The succesful liberalization requires a balance act between harnessing market dynamism and safeguarding social welfare.
Editing Prompt & Checklist
Now, take your time to edit the text above. Look for:
- Spelling Errors: Any typos or misspellings?
- Grammar Mistakes: Subject-verb agreement, verb tense, articles (a/an/the), pronouns (its/it’s, their/there/they’re), prepositions, sentence structure, comparatives/superlatives, pluralization.
- Vocabulary Issues: Incorrect word choice, awkward phrasing, wrong word forms (noun, verb, adjective, adverb).
- Punctuation Errors: Commas, apostrophes, periods, etc.
- Clarity and Flow: Does it read smoothly? Are ideas linked well? Any redundancy?
Try to complete your corrections before proceeding.
Corrected Text with Detailed Explanations
Original: Economic liberalization refer to the process where governments reduces restrictions and regulations on economic activitys, usualy involve opening up markets to domestic and foreign competition.
Corrected: Economic liberalization refers to the process where governments reduce restrictions and regulations on economic activities, usually involving opening up markets to domestic and foreign competition.
Explanations:
- “refer”: Subject-verb agreement error. The subject “Economic liberalization” (singular concept) requires the singular verb “refers.”
- “reduces”: Subject-verb agreement error. The subject “governments” is plural, requiring the base verb form “reduce.”
- “activitys”: Spelling/Pluralization error. The plural of “activity” is “activities.”
- “usualy involve”: Spelling error (“usually”) and incorrect verb form. A participle phrase “usually involving…” correctly modifies “process.”
Original: The primary rewards touted by proponents includes increased efficiency, greater innovation, and faster economic grow.
Corrected: The primary rewards touted by proponents include increased efficiency, greater innovation, and faster economic growth.
Explanations:
- “includes”: Subject-verb agreement error. The subject “rewards” is plural, requiring the base verb form “include.”
- “grow”: Incorrect word form. The noun “growth” is needed after “economic.”
Original: By allow market forces to allocate resources, it is argue, liberalization can lead to better productivity and lower prices for consumers.
Corrected: By allowing market forces to allocate resources, it is argued, liberalization can lead to better productivity and lower prices for consumers.
Explanations:
- “allow”: Incorrect verb form. After the preposition “By,” the gerund form “allowing” is required.
- “argue”: Incorrect verb form. The passive voice “it is argued” is needed here.
Original: Foreign direct invest often flows in more freely, bringing capital, technology, and expertise whom can further stimulate the economy.
Corrected: Foreign direct investment often flows in more freely, bringing capital, technology, and expertise that can further stimulate the economy.
Explanations:
- “invest”: Incorrect word form. The noun “investment” is needed.
- “whom”: Incorrect relative pronoun. “That” (or “which”) should be used to refer to things (capital, technology, expertise).
Original: Export opportunities may also expand as trade barriers is dismantled.
Corrected: Export opportunities may also expand as trade barriers are dismantled.
Explanations:
- “is”: Subject-verb agreement error. The subject “barriers” is plural, requiring the plural verb “are.”
Original: However, economic liberalization is not without significant risk.
Corrected: However, economic liberalization is not without significant risks.
Explanations:
- “risk”: Should be plural (“risks”) as liberalization generally involves multiple potential dangers, not just one. This aligns better with the subsequent discussion of various risks.
Original: Rapid opening of markets can expose domestic industrys, particular smaller ones, to intense international competition they are ill-prepare to face.
Corrected: Rapid opening of markets can expose domestic industries, particularly smaller ones, to intense international competition they are ill-prepared to face.
Explanations:
- “industrys”: Spelling/Pluralization error. The plural of “industry” is “industries.”
- “particular”: Incorrect word form. The adverb “particularly” is needed to modify “smaller ones.”
- “ill-prepare”: Incorrect word form. The past participle adjective “ill-prepared” is needed here.
Original: This can resulting in business closures, job loose, and social unrest in affected communitys.
Corrected: This can result in business closures, job losses, and social unrest in affected communities.
Explanations:
- “resulting”: Incorrect verb form. After the modal verb “can,” the base form “result” is required.
- “loose”: Incorrect word choice (spelling). The noun “losses” is needed here, not the adjective “loose.”
- “communitys”: Spelling/Pluralization error. The plural of “community” is “communities.”
Original: Deregulation, if not manage careful, might lead to market failures, such as environmental degradation or financial instabilitys.
Corrected: Deregulation, if not managed carefully, might lead to market failures, such as environmental degradation or financial instability.
Explanations:
- “manage careful”: Incorrect verb form and word form. The passive past participle “managed” and the adverb “carefully” are needed.
- “instabilitys”: Incorrect pluralization. “Instability” is typically used as an uncountable noun here.
Original: The asian financial crisis of the late 1990s serve as a cautionary tale about the dangers of hasty financial liberalization without strong regulatory oversight mechanisms been in place.
Corrected: The Asian financial crisis of the late 1990s serves as a cautionary tale about the dangers of hasty financial liberalization without strong regulatory oversight mechanisms being in place.
Explanations:
- “asian”: Proper adjective requires capitalization (“Asian”).
- “serve”: Subject-verb agreement error. The subject “crisis” is singular, requiring the singular verb “serves.”
- “been”: Incorrect verb form. After the preposition “without,” the gerund form “being” is required (“without… mechanisms being in place”).
Original: Furthermore, the benefits of liberalization is not always distributed equaly.
Corrected: Furthermore, the benefits of liberalization are not always distributed equally.
Explanations:
- “is”: Subject-verb agreement error. The subject “benefits” is plural, requiring the plural verb “are.”
- “equaly”: Spelling/Word form error. The adverb “equally” is needed to modify “distributed.”
Original: It can exacerbate income inequality, with gains accrueing disproportionately to capital owners and skilled labour while low-skilled workers may face wage stagnation or job insecurity.
Corrected: It can exacerbate income inequality, with gains accruing disproportionately to capital owners and skilled labour, while low-skilled workers may face wage stagnation or job insecurity.
Explanations:
- “accrueing”: Spelling error. Correct spelling is “accruing.”
- “labour”: Comma added after “labour” to correctly separate the clause describing gains from the contrasting clause about low-skilled workers. (“Labour” is UK spelling, “labor” is US. Either is acceptable unless one style is specified, but maintain consistency.
Original: There are also concerns that liberalization can lead to a erosion of social safety nets as governments faces pressure to reduce public spending.
Corrected: There are also concerns that liberalization can lead to an erosion of social safety nets as governments face pressure to reduce public spending.
Explanations:
- “a erosion”: Incorrect article. “An” is needed before a word starting with a vowel sound (“erosion”).
- “faces”: Subject-verb agreement error. The subject “governments” is plural, requiring the base verb form “face.”
Original: Therefore, manageing the transition careful is crucial.
Corrected: Therefore, managing the transition carefully is crucial.
Explanations:
- “manageing”: Spelling error. Correct spelling is “managing.”
- “careful”: Incorrect word form. The adverb “carefully” is needed to modify “managing.”
Original: This involve implementing reforms gradual, provide support for displaced workers, strengthen regulatory frameworks, and ensure that appropriate social policies is in place to mitigate the adverse consequence.
Corrected: This involves implementing reforms gradually, providing support for displaced workers, strengthening regulatory frameworks, and ensuring that appropriate social policies are in place to mitigate the adverse consequences.
Explanations:
- “involve”: Subject-verb agreement error. The subject “This” is singular, requiring the singular verb “involves.”
- “gradual”: Incorrect word form. The adverb “gradually” is needed to modify “implementing.”
- “provide,” “strengthen,” “ensure”: Incorrect verb forms. Parallelism requires the gerund forms “providing,” “strengthening,” and “ensuring” to match “implementing.”
- “is”: Subject-verb agreement error. The subject “policies” is plural, requiring the plural verb “are.”
- “consequence”: Should be plural (“consequences”) as there are typically multiple adverse effects.
Original: The succesful liberalization requires a balance act between harnessing market dynamism and safeguarding social welfare.
Corrected: Successful liberalization requires a balancing act between harnessing market dynamism and safeguarding social welfare.
Explanations:
- “succesful”: Spelling error. Correct spelling is “Successful.”
- “balance act”: Incorrect phrase. The standard idiom is “balancing act.”
Assignment
Apply your editing skills to the following text on economic liberalization. Correct all errors. The corrected version is provided below without explanations.
Assignment Text (Error-Filled):
Proponents of economic liberalization often points to countries like South Korea or Chile as examples where openning markets eventualy led to significant economic prosperitys. They argue that removeing trade barriers and privatizeing state-owned enterprizes fosters competition, enhance efficiency, and attract much needed foreign capitals. This can drive technological advancement and create new jobbs in emergent sectors. Consumers too benefit from wider choice of goods and services, often at lower price due to competition increases. Liberalized financial markets can also improve access for credit for businesses, fuel investment and expansion.
However, critics highlights the potential downsides. The transition period can be painful, with established domestic firms struggleing to adapt and potentialy shedding many workers. Inequality might worsen if the gains from growth are concentrate among a small elite or specific regions. Sudden influxes of foreign capital can sometimes lead to asset bubbles or currency appreciation, makeing exports less competitive. Moreover relaxing regulations without adequate supervision could encourage risky behaviors in the financial sector, pose systemic risks. Careful sequencing of reforms, coupled with measure to protect vulnerable groups and maintain macroeconomic stabilty, are therefor considered essential for realize the benefits of liberalization while mitigating it’s inherent dangers.
Corrected Assignment Text – No Explanations
Proponents of economic liberalization often point to countries like South Korea or Chile as examples where opening markets eventually led to significant economic prosperity. They argue that removing trade barriers and privatizing state-owned enterprises fosters competition, enhances efficiency, and attracts much-needed foreign capital. This can drive technological advancement and create new jobs in emerging sectors. Consumers too benefit from a wider choice of goods and services, often at lower prices due to increased competition. Liberalized financial markets can also improve access to credit for businesses, fueling investment and expansion.
However, critics highlight the potential downsides. The transition period can be painful, with established domestic firms struggling to adapt and potentially shedding many workers. Inequality might worsen if the gains from growth are concentrated among a small elite or specific regions. Sudden influxes of foreign capital can sometimes lead to asset bubbles or currency appreciation, making exports less competitive. Moreover, relaxing regulations without adequate supervision could encourage risky behaviours in the financial sector, posing systemic risks. Careful sequencing of reforms, coupled with measures to protect vulnerable groups and maintain macroeconomic stability, is therefore considered essential to realize the benefits of liberalization while mitigating its inherent dangers.
0 Comments