Unit 14 Global Economy

Task 7. Writting

A: Professor. I'm Derek Swam, from 'Market News'. Do

you have a minute?

B: Oh yes, I can spare a few minutes to talk.

A: Do you think that your lecture was well received?

B: Yes, the audience seemed interested in what I

had to say about the global economy.

A: And does global commerce always benefit a

country?

B: Well, there are some downsides to globalization.

But the good usually outweighs the bad.

A: Can you give me an example of one of the

downsides?

B: Well, in some industrialized countries globalization

has led to loss of employment. But I'd prefer you

not to mention that in your article.

A: That's OK. I have plenty of other material.

Task 8. Writing

How globalization affects the world economy: it leads to increased economic output in many

places, which in turn leads to a higher standard of living. Why global trade benefits countries:

global trade allows developing countries to trade with industrialized nations. This can help

increase gross domestic product, reduce national debts and consumers may also benefit by

getting goods at lower prices. Why global trade makes countries dependent on each other:

once countries start buying and selling things between each other this means that the

decisions of consumers in one country make on what to buy have an effect in the other

country, even if it is very far away.