Variant “a”

Pre-reading tasks

1. Remember all the following words and word-combination well:

1. globalization (n) [ֽgləubəl(a)i`zeʃn] – глобализация

2. the latter (adj) [`lætə] – последний (из двух названных)

3. to finance (v) [`fainæns] – финансировать

4. to establish (v) [is`tæbliʃ] – основывать, создавать

5. sharp (adj) [ʃa׃p] – определенный, отчетливый, резкий

6. to advertise (v) [`ædvətaiz] – рекламировать

7.to reduce (v) [ri`dju׃s] – сокращать, понижать, уменьшать

8. to introduce (v) [ֽintrə`djus] – внедрять, вводить

9. euro (n) [`ju׃rəu] – евро (денежная единица)

10. single (adj) [`siŋgl] – единый

11. currency (n) [`kΛrənsi] – валюта, деньги

12. transaction (n) [træn`zækʃn] – дело, сделка

13. to join (v) [dʒoin] – соединять(ся), сливать(ся), вступать (в члены общества)

14. circulation (n) [ֽsə׃kju`leiʃn] – денежное обращение

15. to participate (v) [pa׃`tisipeit] – участвовать

16. to promote (v) [prə`məut] – способствовать; содействовать распространению, развитию

17. subsidiary (n) [səb`sidjəri] – филиал

18. to do business – вести дело, заниматься предпринимательством

2. Translate the following word and word-combinations from English into Russian:

increasing internationalization of ideas, to be distinguished from, to change into one dynamic market, uniform characteristics, a free mobility of capital, privatization of the economy, all over the world, towards globalization, sharp reduction, government budgets, wide advertising, to introduce in circulation, to reduce any risks, to lead to, to be going to, to adjust its products, consumer’s requirements, e-business.

3. Make the corresponding nouns using these verbs:

to finance, to value, to establish, to advertise, to reduce, to introduce, to compete, to participate, to promote, to circulate.

4. Find synonyms among the following words:

to reduce, invariable, introduction, to enlarge, global, inculcation, aim, keen, sharp, world-wide, subsidiary, goal, transaction, broad, uniform, bargain, different, branch, wide, various.

5. In the dictionary find antonyms to these words:

the latter, reduction, domestic, social, efficient, popular, long-term

Text

Globalization of world economy

Globalization is understood as increasing internationalization of ideas, science, communication and technology that must be distinguished from economic globalization. The latter means the process of integration of markets, great changes in trade and finance and the establishment of the global economy.

The main aim of economic globalization is to change the world into one dynamic market which has uniform characteristics in different countries. Globalization should lead to a free mobility of capital as well as to privatization of the economy and a sharp reduction in government budgets. Besides, globalization means wide advertising of new consumer products all over the world, low taxes for producers both domestic and foreign and similar life-style* for people of different nationalities.

First steps towards globalization in Europe were made by the establishment of the Common Market in 1993 and the introduction of the “euro” as the new single currency for the Europe on January 1, 1999. Since that time the euro has been used in foreign trade transactions by the countries which joined the euro –zone* . Euro banknotes were introduced in circulation in 12 member-countries of the European Union on January 1, 2002.

Economists think that the singe currency will increase trade integration as well as labour mobility in the euro-zone. The introduction of the new currency and participation of different countries in integrated European financial markets should reduce any risks in business transactions and lead to more efficient European finance, promote European political as well as economic integration.

Globalization at a business level means that a company has decided to participate in the global economy and it is going to establish its subsidiaries in foreign markets. However, a company will have to adjust its products or services to the consumer’s requirements in a foreign country. Nowadays any company may do e-business using the Internet services. In order to attract consumers it is important to advertise new goods and services both in national and international markets. Advertising of popular goods and services is often done in such international languages as English, German, French and Spanish.

Commentary to the text

Similar life-style – похожий образ жизни

Euro-zone – страны, где используется денежная единица «евро»

Tasks to the text:

1. Fill in the following words from the texts (use the appropriate form of the words): financial, single, sharp, the former, a subsidiary, a reduction, a transaction, to establish, to advertise, to join.

1. All the republics of … Soviet Union became politically and economically independent countries.

2. All the … documents of a company can be checked by the tax inspector.

3. You can improve your health if you … any sports club.

4. Nowadays any large company tries … its own site in the Internet in order to … its product all over the world.

5. The introduction of the … currency in 1999 was important for globalization of the world economy.

6. There was … … in the standard of living in Russia after the 1993 crisis.

7. Business … by means of the Internet has become very popular recently.

8. The system of fast food known as Mc Donald’s has its … in different countries of the world.

2. Answer the questions:

1. What does globalization mean?

2. What are the main aims of economic globalization?

3. What are the main steps of globalization in Europe?

4. What is the euro?

5. When was the euro introduced?

6. Is the euro used in all the European countries?

7. What benefits can the single European currency ensure?

8. What does globalization mean in business?

3. Write a short summary to the text (not more than 5 sentences).

Выполните упражнения на закрепление грамматики.