Week 3

Inglés para comercio internacional I Economía

Threats of globalization

1.The growth of international trade: Is exacerbating income inequalities both

between and within industrialized nations.

2. Global commerce: Is increasingly dominated by transnational corporations which

seek to maximize profit.

3. Without regard for the development needs of individual countries or the local
populations.

4. Protectionist policies: In industrialized countries prevent many producers in the

Third Worldfrom accessing export markets.

5. The volume and volatility: Of capital flows increasesthe risks of banking and currency
crisis, specially in countries with weak financial institutions.

6. Competitions: Among developing countries to attract foreign investment leads to a

“race to the bottom” in which countries dangerously lower environmental standards.

7. Cultural uniqueness: Is lost in favor of homogenization and “universal culture” that

draws heavily from American culture.

8. Unemployment: Due to globalization, immigration of labor from developing countries

to developed countrieshas become much prominent and easier, this has resulted in
unemployment for the native citizens.

9. Enequality: Te story ofthe 20th century was of remarkable average income growth,
but it is also worth noting that the progress was not evenly disperse.

10. The gaps:Between rich and poor countries and rich and poor people between countries
have grown.

11. Tax heaven: With different taxation norms in different countries, citizens park their illicit
or unaccounted money in tax heavens and avoid taxation from their own countries.

12. The international atmosphere: Is full of threats of relation and it appears likely that major
trading partners with the US like the EU and China will hit back by setting their own import
barriers against US.

Opportunities of globalization

1.Great opportunity: Global markets offer greater opportunities for people to tap into more
and larger markets around the world.

2. Cross cultural integration: Liberalized nations offer multiple avenues for higher education,
tourism and jobs to the immigrants of different countries.

3. Prosperity: Globalization has helped lift hundreds of millions to escape poverty over the
past decades.
4. Competitions: One of the most visible positive effect of globalization is the improve quality
of products at competitive price.

5. Foreign investment: Multinational corporations are a result of globalization.

6. Technological innovation: Increased competition from globalization helps stimulate new

technology development.

7. Global changes: Globalization helped attenuate the major environmental changes we are
experiencing today.

8. Conversely: Globalization can create new opportunities, new ideas and open new markets
that an entrepreneur may have not had in their home country, as a result,there are a number
of positive associations, associated with globalization.

9. Globalization increases: Greater opportunities for firms in less industrialized countries to

intervene into more and larger markets around the world.

10. This can lead: To more access to capital flows, technology, human capital, cheaper import
and large export markets.

11. It allows businesses: In less industrialized countries to become part of international

production networks and supply chins that are the main conduits of trade.

12. For example: The experience of East Asian economies demonstrates the active effect of
globalization on economic growth and shows that at least under some circumstances
globalization decreases poverty.

Vocabulary

Exacerbating: Exacerbando Growth: Crecimiento

Income: Ingresos, renta Tap into: Explorar, intervenir

Prevent: Prevenir, impedir Partnership: Sociedad

Run: Funcional, pronóstico de ventas Ownership: Propiedad

Tax heaven: Paraíso fiscal Run by: Funcionar, tener algo propio

Conduit: Conductos, conducción Regard: Consideración

Draw: Dirigir, enviar Park: Estacionar

For profit: Factor de beneficio Standard: Nivel, calidad

Avenues: Forma de hacer algoLead: Guiar, conducir

Hit back: Devolver el golpe Supply: Provisiones

Allow: Permitir, dejar Foreign: Extranjero

Larger: Más grande Greater: Más grande