Vocabulary:

dimension - измерение

to establish – учреждать

to lead to – приводить к…

similar – похожий

single currency – единая валюта

to support – поддерживать

adjustment – регулирование

subsidiary – филиал, представительство

to join – присоединяться

Task 2. Answer the questions:

1. What does globalization mean?

2. What are the main characteristics of "economic globalization"?

3. What are the aims of economic globalization?

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

5. What is the euro?

6. When and where was the euro introduced?

7. What problems should the Eastern European countries cope with nowadays?

8. What does globalization mean in business?

9. What is important in e-business?

Task 3. Fill in the blanks with the following words: financial, a subsidiary, a currency, to establish, to advertise, to join, an improvement

1. All .................. documents of a company can be checked by tax inspectors.

2. You can improve your health if you .......................... any sports club.

3. Nowadays any large company tries ...................... its product all over the world.

4. The introduction of the single ............................in 1999 was important for globalization of the world economy.

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

6. Our University was ................................ in 1959.

7. The system of fast food known as McDonalds has its ............................. in different countries of the world.

Task 4. Put the verbs in the required form

1. Farmers of different countries usually (to support) long term ecological programs.

2. Problems of globalization (to discuss) by leading economists, scientists, writers and activists at the International Forum on Globalization every year.

3. The first meeting of the International Forum on Globalization (to hold) in San Francisco in January 1994.

4. The euro (to become) an alternative to the US dollar as an international currency.

5. The degree of economic interdependence between different countries in the world (to increase) today as a result of close trade relations.

6. Some economists (to think) that such organizations as the World Trade Organization, the International Monetary Fund, and the World Bank (may/ to replace) by new organizations to develop new trade and investment rules.

7. Russia (to join) the World Trade Organization when the government offices (to do) all the necessary adjustments in the national economy.

8. Harvard University (to have) this name because in 1638 John Harvard (to leave) all his money to a school that later (to become) the well-known university.

9. If the company (to establish) a subsidiary in this country, its goods (to become) cheaper and more competitive in Russia.

Task 5. Translate the following words

1. globalization, global

2. establish, establishment, established

3. advertise, advertisement

4. reduce, reduced, reduction

5. introduce, introduction

6. compete, competition

7. promotion, promote

8. Europe, European, euro

Task 6. Fill in the blanks with the words from exercise 5

1. The ............ in taxes usually stimulates production.

2. Both small and large companies spend money on ........ in newspapers or on TV in order to promote their goods and services.

3. .......... may help people to move from one country to another easily in order to seek for better jobs.

4. In order to get more profits companies try to ... goods.

5. The .................. of the single currency has made interactions between different foreign companies much easier and faster.

6. The members of the .................. Union started to use the ................. as the single currency in 1999.

7. Famous American companies such as Coca-Cola, and McDonalds have already .................. subsidiaries in Russia and they can successfully.................... with domestic producers for consumers.

Task 7. Read the text about the effects of globalization and do some exercises

It is impossible to answer the question: "Is globalization a positive or a negative phenomenon?" without analyzing what spheres of human activity globalization affects.

Globalization leads to rising standards of living, there is a growth in international travel, the rise of the Internet and the development in telecommunications, and etc. Different international organizations solve various global problems (for example, disarmament, AIDS, capital punishment, etc). However, there is another opinion. Specialists say that globalization doesn't concern all countries, but only the dominant players. Such countries as the United States, Japan, Germany enjoy a strong competitive advantage in the sphere of economics getting others out of the international market.

The global 'monoculture' has a single language, it is English. English is the language of the lion's share of the world books, newspapers and magazines, and it is promoted through radio, television, and films, almost 80% of the content posed on the Internet is in English. Of course, it is good that people from different countries can understand each other and communicate using English; but still there is a disadvantage: other languages are in the background. Many nations with strong cultural traditions (e.g. France, Greece) have to promote and preserve their own cultural heritage through their governments.

Adopted from http://www.nota.triwe.net/teachers/tolstikova/politology02.htm