1. Economic invasion — экономическое вторжение

2. financial center — финансовый центр

3. national security — национальная безопасность

4. visible... investments — видимые... инвестиции

5. taxpayer — налогоплательщик

6. to bear a disproportionate share of... costs — брать на себя непропорциональную, несоразмерную

долю затрат

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22 Мировая экономика

22.7.1.5. Read the text “Foreign Capital Expansion: a Cause for Alarm?,” translate it in written form

and answer the question: Could the expansion of foreign investments in Russia be a cause for alarm?

Foreign Capital Expansion: a Came fo r Alarm?

Despite the hullabaloo in the press and political circles about foreigners owning the United States,

the total share of foreign ownership of American industry is at most 6 percent. Compare this to

Britain, for example, where 20 percent of total sales comes from companies owned by foreigners.

And what about US ownership of foreign firms? The United States ranks as the king. The US

share of worldwide direct investment is over 40 percent. Not surprisingly, the foreign press has at

Various times decried American imperialism, particularly in France during the 1970s.

No one seems to care about a Texas company owning a store in Los Angeles or a Chicago

company owning a factory in New York. The reason is that ownership is rarely undertaken for any

reason other than to make a profit. Most purchasers of goods and services anywhere in the world

have little knowledge about who ultimately owns the company that provided the good or service —

and they don’t care. Some even argue that Americans should encourage direct ownership and debt

purchases by foreigners. Why? Because then foreigners would have an increased incentive for the

American economy to remain strong, for real estate prices not to collapse, for the legal structure to

stay on a stable course, and for their US businesses to compete effectively by providing goods and

services that consumers want.

Commentary and Notes to Text 22.7.1.5

1. The hullabaloo — шум (трескотня в прессе)

2. to decry — порицать, хулить

3. an increased incentive — повышенный интерес (стимул, заинтересованность)

4. to collapse — рухнуть

22.7.2. Match the following terms with the correct definition

Work with a partner.

1. enterprise

2. incorporation

3. private company

4. joint venture

5. convertibility

6. factor endowment

7. weightlessness

a) A type of business organization that permits a limited number

of shareholders to enjoy limited liability and to be taxed as a

company.

b) The relative availability of the different factors of production

in a country. An important determinant of the pattern of international

trade.

c) The action of forming a company by carrying out the necessary

legal formalities.

d) The term used to describe the decreasing material component

in the value of world output. The decline of heavy industry

and the relative growth of the services industries in richer

countries account for the decline in physical value added.

e) One or more firms under common ownership or control.

A term used in the census of production to distinguish the

reporting unit from the firm or unit of control.

f) A business arrangement in which two companies invest in a

project over which both have partial control. It is a common

way for companies to collaborate — especially on risky hightechnology

ventures — without engaging in full-scale merger.

g) A currency is said to be convertible when it may be freely exchanged

for another currency or gold. All foreign exchange

controls were completely removed by the UK in 1979.

330

22.7.3. Read the text, complete it using the words from the box and translate it into Russian

enterprise, intermediaries, integration, production, raw materials

Vertical integration. The extent to which successive stages in ... (1) and distribution are placed

under the control of a single ... (2). Oil companies which own oilfields, tankers, refineries, and

filling stations exhibit a high degree of vertical ... (3). Firms move to integrate, either forwards

towards retailing or backwards towards sources o f ...... (4), in order to eliminate the profit margins

o f ... (5) or to secure sources of supply or markets.

22.7.4. Written/Oral Practice

Make up sentences and microdialogues with the following word combinations on the subject of the unit.

а)глобализация-— globalization

globalization of the world economy — глобализация

globalization of the economy-мировой эконглообмалиизакциия

экономики

р ы н к о в

капитала

foreign corporation — иностранная корпорация

a gro-industrial corporation — агропромы

international oil and gas corporation — междунар

о д н а шя нелфетнегнаазояв

каяо ркпоропроарцациияя

m ilitary-industrial corporation —воено-

с) производство — production, manufacture, manufacturing, industry

quality production — производство ilsradnuril-tcrgyutisgnra-eragmc lfea lв ыaсококачественны

х изделий вотесрупермн еоф к

highly remunerative production — высоко р agricultеure industryн-с/х производство

табельное производство

incomplete production, work in progres(prochighly

d) комплекс — complex, package, system

aeroindustrial complex — авиапромышленный

к ecоonomмic policпy packлage —е комкплекс ме

роприятий

в области экономической по

н а у ч н о -

п р о и з в о д с т в е н н ы й

комплекс

22*

331

petrochemical complex-нефтехимический fuel and energy complex —топливно-энергекомплекс

тический комплекс

afiliated(alied, asociated,subsidiary)company, limited-liability company-компания с ограниченsubcompany-дочерня компания ной ответственостьюmarket leader-компания, занимающая ведуще comercial credit company-торгово-кредитнаяместо на рынке компанияopen-end investment company-инвестиционая franchisor-франчайзинговая компаниякомпания открытого типа close down(liquidate,disolve,wind up) a companymultinational compamy-многонацтональная ,sel out a company-ликвидировать компаниюкомпания set up(form,promote,constitute) a company-diversified company-многотраслевая компания учереждать компанию

e) компания — company, firm, business, franchiser/or

mining company-горнопромышленная public company — государственная компания,

к о м п а н и я

о т к р ы т о е

а к ц и о н е р н о е о б щ е с т в о

public(state)

c o m p a n y - г о с у д а р с т в е н н а я

u n l i m i t e d

c o m p a n y - к о м п а н и я

с н е о г р а н и ч е н

)f пр едп рия тие — e nter pris e, b usin ess, vent ure, plant, company, franchisor

к о м п а н и я

н о й

ответственностью

agro-industrial enterprise — агропромышленное

пproрcessеing дenteпrprрise, иprocяessтing иplanеt,

п ердп iltseragbnutcahmfanu

m —