1. Match the words below with their definitions or synonyms

1 depreciation 2 issues 3 profitability 4 to affect sth 4 welfare benefits 5 flight of capital 6 significant 7 impact n 8 to cause 9 loads 10 to outsource 11. to occur

important subjects that people discuss to influence sth to move to a different territory money paid by the government to people in need, for example the unemployed a fall in value important a movement of large sums of money out of a country to result in a lot to happen, to take place the ability of business to make money influence

2. Complete the chart with different parts of speech. Use your dictionary to help you. Comment on the suffixes. Find the words in the text belowand translate them.

noun	adjective	verb
globalization		---------------------
	significant
suspicion
		believe
competition
decision
preference
	infectious
		exploit
threat

3. Look through the points below and classify them into two groups:

1) Advantages and 2) disadvantages.

1. Globalization increases the power of governments.

2. Globalization could lead to big employment problems in the West.

3. Globalization lowers people’s living standard.

4. Globalization increases competition among countries.

5. Competition between China, India and the West will increase employment everywhere.

6. Globalization prevents governments from controlling their welfare systems.

7. Globalization creates cross-cultural problems, for example, between India, China and the West.

Text B

Pros and Cons of Globalization

Globalization is a new term that has found a significant place in the lives of the people. By globalization, we mean shedding down the walls of distrust and suspicion between countries, to make a bridge where ideas and beliefs can cross the borders. Though globalization today primarily covers the economic side, the impact is not limited to the economy only. It actually affects every aspect of life, like cultural, social, psychological and of course, political. While globalization is seen as a sign of hopeful future by some, there are others who believe that it can cause huge disaster for the world economy.

Pros of Globalization

• With globalization there is a global market for companies to trade their products and a wider range of options for people to choose from among the products of different nations.

• Developing countries benefit a lot from globalization, as there is a sound flow of money and thus, a decrease in the currency difference.

• To meet the increasing demands that follow globalization, there is an increase in the production sector. This gives loads of options to the manufacturers as well.

• Competition keeps prices relatively low, and as the result, inflation is less likely to occur.

• No country remains the single power head; the decisions at higher levels are meant for the people at large.

• Communication among the countries is on the rise, which allows for better understanding and broader vision as well as interchange of cultures. We get to know more about the other’s cultural preferences.

• Governments of countries show concern about each other.

Cons of Globalization

• Globalization is causing Europeans to lose their jobs as work is being outsourced to the Asian countries. The cost of labour in the Asian countries is low as compared to other countries.

• The high rate of profit for the companies in Asia has resulted in a pressure on the employed Europeans, who are always under the thread of the business being outsourced.

• Outsourcing businesses to Asian countries increases the chances of depreciation in terms of quality.

• Some experts believe that globalization is the cause for the invasion of infectious diseases and social degeneration in countries.

• There is a threat that big business could rule the world.

• Poor countries are exploited by the richer ones. Workforce is just used for very low wages.

Notes:shedding down the walls… – усунення стіни …