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Unit 9 Globalization’s Dual Power
1. Glossary
2. Key words: project, relieve, neutralize, prevail, prospect
3. Phrases: idioms and phrases:
at the edge of (a new century) in some respects to consist of
a succession of to depart from such … as
compared with to go on a binge to stay abreast of
to be hard-pressed to do sth. to be hamstrung to be prone to
to live on on both counts to be projected to
to be up from to to discriminate against
4. Collocations
A double-edged sword 双刃剑 national sovereignty 国家主权
a daunting question 一个令人头疼的问题Trade negotiations 贸易谈判
economic unification 经济一体化 ever-declining costs 曾经下降的成本
Consumer confidence 消费者信度 economic forecasts 经济预测
undersea cables 海底电缆 In one critical respect 在一个关键方面
an economic entity 一个经济实体 financial markets 金融市场
Multilateral institutions 多边机构 an ensuing financial crisis 随后的金融危机
bank loans 银行贷款 After adjusting for inflation 通胀因素调整
abrupt surges of global capital 突然激增的全球资本
The Institute of International Finance 国际金融研究所
a full-scale economic downturn 一个全面的经济衰退
Office buildings inept policies 不适当的政策 lopsided trade flows 不平衡的贸易流动
Boom-bust cycles management skills product design
Unpredictable consequences high-cost industries the OECD 经济合作与发展组织
A powerful vehicle a trendy word capital flows bond financing 债卷融资
Equity investment 股本投资 cross-border mergers and acquisitions
current-account deficit Balance of payments
crony capitalism economies of scale
Component manufacturing a scary prospect a plausible presumption
A powerful popular backlash genetically modified food to lack a common agenda
To erode the local culture to seek membership to maximize their presence
To spread technology
5. Grammar: that-clause wh-clause
6. Word formation: cross-; multi-; uni-; bi-; tri-; quadri-; lateral
7. Background information:
1) Author
2) The Asian Financial Crisis, The European Union, The World Bank, The World Trade Organization
8. Text structure and the main idea of this passage
9. Preview questions about the text.
1) What was the author trying to say in the article which was written more than ten years ago?
2) What did he say that has proved to be right?
3) What did he say that has proved to be wrong?
4) What new developments have we seen in the world that the author did not visualize over ten years ago?
5) Is “globalization” still a trendy word today? Why or why not?
6) What have people learned about globalization with over ten years’ hindsight?
7) Are there any punchy lined in the essay that you think are worth remembering?
10.Writing Devices
Parallelism
11. Sentence Paraphrase
1) At the edge of a new century, globalization is a double-edged sword: a powerful vehicle that raises economic growth, spreads new technology and increases living standards in rich and poor countries alike, but also an immensely controversial process that assaults national sovereignty, erodes local culture and tradition and threatens economic and social instability. (para.1)
2) In 1999, private flows (bank loans, bond financing, equity investment in local stock markets and direct investment by multinational companies) totaled an estimated $136 billion to these 29 countries …(para.8)
3) Behind the merger boom lies the growing corporate conviction that many markets have become truly global. By trying to maximize their presence in as many nations as possible, companies seek to achieve economies of scale … (para.11)
4) … as a result of "crony capitalism," inept government investment policies and excess optimism… (para.21)
5) The street protesters at the Seattle meeting of the World Trade Organization in early December may have lacked a common agenda or even a coherent case against trade. But they accurately reflected the anxiety and anger that globalization often inspires. (para.30)
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