Exercise 2. Match a word in A with a word in B.

 

A	B
	globalization	a	unfriendliness or opposition
	trade	b	cease developing; become inactive
	hostility	c	resulting in good
	inequality	d	high technologies
	stagnate	e	difference in size, degree, circumstances, etc.; lack of equality
	technological advances	f	the tendency for the world econоmу to work as оnе unit, led by large international companies doing business all оvеr the world
	exchange	g	combine one thing with another to form a whole
	beneficial	h	the action of buying and selling goods and services
	integrate	i	the activity of striving to win something by establishing superiority over others
	competition	j	give something and receive something of the same kind in return

Reading and translation

Exercise 1. Read the text and answer the questions:

1) What are the reasons for different points of view on globalization?

2) What are the opportunities of globalization for developing and advanced countries?

3) What is the history of the term “globalization”?

4) What are the meanings of this term?

5) What are major characteristic features of globalization?

 

MEANINGS OF GLOBALIZATION

Globalization is а term used to describe changes in societies and the world economy that are the result of dramatically increased trade and cultural exchange. Some view it as а process that is beneficial, а key to future world economic development. Others regard it with hostility, believing that it increases inequality between nations, threatens employment and living standards. Globalization offers extensive opportunities for worldwide development but it is not progressing evenly. Some countries integrate into global economy more quickly than others. They are seeing faster growth and reduced poverty.

By contrast, in the 1970s and 1980s when many countries in Latin America and Africa pursued inward-oriented policies, their economies stagnated or declined and poverty increased. It is evident that the opportunities of globalization do not come without risks, but this is not а reason to reverse direction. For all concerned - both in developing countries and in the advanced countries - it is necessary to еmbarасе policy changes in order to build strong economies and financial systems that will produce more rapid growth and ensure that poverty is reduced.

What is globalization? There is nothing mysterious about globalization. The term has come into common usage since 1980s. It reflects technological advances that have made it easier and quicker to complete international transactions - both trade and financial flows. It means that the same market forces that have operated for centuries at all levels of human economic activity extended beyond national borders. Major characteristic features of globalization are capitalism expansions, global labor division, migration of financial, human and production resources within the planet, standardization of legislation, economic and technological processes, as well as removing the borders between cultures of various countries.

Markets promote efficiency through competition and the division of labor and allow people and economies to focus on what they do best. Global markets offer greater opportunity for people to tap into larger markets around the world. It means that they can have access to more capital flows, technology, cheaper imports, and larger export markets.

At its most basic, scientists speak about several meanings of globalization. It can mean:

1. The formation of global village - closer contacts between different parts of the world; increasing possibilities of personal exchange, mutual understanding and friendship between world citizens, and creation of а global civilization.

2. The spread of capitalism from developed of developing nations.

3. Economic globalization – the tendency for the world economy to work as one unit, led by large international companies doing business all over the world.

New World Encyclopedia