Superior

превосходный, высший

to sustain

поддерживать, выдерживать, подкреплять

Variance

дисперсия

Whilst

в то время как,

пока, тогда как

Text I

■ Skimming

Ex. 1. Skim the article below and choose the best heading for it:

a) Globalization and Trade.

b) Globalization in the World Today.

c) Pluses and Minuses of Globalization.

d) Fundamentals of Globalization as a Notion.

e) The History of Globalization.

******

The phenomenon of globalization and its history began in a primitive form when humans first settled into different areas of the world. For thousands of years, people—and, later, corporations—have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages. Likewise, for centuries, people and corporations have invested in enterprises in other countries. In fact, many of the features of the current wave of globalization are similar to those prevailing before the outbreak of the First World War in 1914. However, it has shown a rather steady and rapid progress in the recent times and has become internationally dynamic and, due to technological advancements, has increased in speed and scale, so that countries in all five continents have been affected and engaged.

Globalization is defined as a process which, based on international strategies, aims to expand business operations on a worldwide level and was precipitated by the facilitation of global communications due to technological advancements, and socioeconomic, political and environmental developments. The goal of globalization is to provide organizations a superior competitive position with lower operating costs, to gain greater numbers of products, services and consumers. This approach to competition is gained via diversification of resources, the creation and development of new investment opportunities by opening up additional markets, and accessing new raw materials and resources. Diversification of resources is a business strategy that increases the variety of business products and services within various organizations. Diversification strengthens institutions by lowering organizational risk factors, spreading interests in different areas, taking advantage of market opportunities and acquiring companies both horizontal and vertical in nature.

The components of globalization include GDP (Gross Domestic Product), industrialization and the Human Development Index (HDI). The GDP is the market value of all finished goods and services produced within country’s borders in a year and serves as a measure of a country’s overall economic output. Industrialization is a process which, driven by technological innovation, effectuates social change and economic development by transforming a country into a modernized industrial, or developed, nation. The Human Development Index comprises three components: (a) population’s life expectancy in the country, (b) knowledge and education measured by the adult literacy and (c) income.

■ Scanning

Ex. 2. Now read the article carefully and say whether the statements are true or false:

1) Globalization has a heterogeneous nature.

2) The roots of globalization don’t go further than to the appearance of market economy.

3) World War I stimulated the wave of globalization.

4) Globalization is the process that touches mostly developed countries.

5) The aim of globalization is to eliminate any competition on the market, gaining that through setting common business rules.

Ex. 3. Choose the best ending according to the information learnt from the text:

1)	One of the aims of globalization is …	a)	… the same like those before World War I.
2)	Diversification of resources is …	b)	… to transform the society into a developed nation.
3)	Industrialization helps …	c)	… business expansion worldwide.
4)	The globalization signs today are …	d)	… the result of technologies and communication.
5)	Globalization is …	e)	… a strategy in business to enlarge the range of goods.

Ex. 4. Give the English equivalents from the text above for the following Russian phrases: