Globalization's Dual Power

1. Globalization's Dual Power • Globalization is a double-edged sword. It is much like fire. Fire itself is neither good nor bad. Used properly, it can cook food, heat our homes. Used carelessly, fire can destroy lives, towns and forests in an instant.

2. New products New services New investment and markets New technologies and management skills Higher living standards More debt More instability A greater gap between rich and poor Worse environmental degradation Loss of identity

3. the trade around the Mediterranean , trade across the Atlantic after the discovery of America, In the 1980s and 90s, especially after the Cold War, with the help of GATT (today the WTO), the World Bank , and with easy transportation and communication facilitated by technological advances global economic integration Globalization: a trendy word for an old process

4. New products and services, new investment and markets, new technologies and management skills, higher living standards More debt, instability, far worse environmental degradation, loss of national and cultural identity Do the merits of current globalization outweigh its demerits? Current Economic Globalization

5. A powerful vehicle A trendy word Capital flows Bond financing Equity investment Cross-border mergers and acquisitions Current-account deficit (favorable) Balance of payments Crony capitalism Component manufacturing A scary prospect A plausible presumption Genetically modified food To lack a common agenda To erode the local culture Seek membership Maximize their presence Spread technology

6. 双刃剑 国家主权 可怕的难题 贸易协商 经济一体化 日益下降的成本 海底电缆 一个经济实体 多边机构 随之而来的金融危机 扣除涨价因素 全球资金突然大量流入（出） 国际金融研究所 全面经济下滑 不平衡的贸易 繁荣－衰退周期 管理技能 产品设计 无法预计的后果 高成本工业 经济合作与发展组织

7. Something that is both positive and negative Eg: She paid me a double-edged compliment, saying that my work was excellent for a beginner. Double-edged sword

8. The beauty of the plan consists in its simplicity. Theory should consist with practice. Consist in/of/with

9. The United Kingdom consists of Great Britain and Northern Ireland.

10. Largely • He left his job largely because he was homesick. • There divorce is largely a matter of conjecture.

11. Globalization, integration, maximization liberalization, Americanization Americanization means taking new immigrants and turning them into Americans...whether they want to give up their traditional ways or not. . ------tion

12. antidote • Humor can be an effective antidote to hostility.

13. (infml) to do too much of sth, such as eating, drinking, shopping To go on a binge 9

14. Cross- • Cross-border • Cross-culture • crossroad • crossword

15. Be liable to sth, be likely or inclined to do sth. Eg. Children of poor health are very prone to colds in winter. Be prone to sth

16. Used to say sth will not happen if sth else does not happen Eg: They will be back to the negotiating table only if their conditions are fulfilled. If only a few countries do, their actions will not matter much. Only if/ if only

17. Downturn, upturn, output, input, outlook, outcome Adverb+ verb=noun

18. To alleviate or to reduce (fear, pain, suffering) The good news relieved me of my anxiety. To relieve 27

19. A sudden and great increase, or a sudden and great movement forward. There has been a surge in stock prices recently. Surge 28

20. Globalization, maximization, integration, optimization, commercialization, democratization -tion

21. To act on the basis of prejudice against sb. She felt she had been discriminated against because of her age. ageism Discriminate against sb 32

22. Sth to be expected, possibility Prospect 34

23. To have merits as well as demerits Cut both ways 34

24. To triumph, to succeed, to win out Prevail 34

26. Commence Freckled Glimmer Imminence Shrewd Triangular Sore mating

27. Subjugate Streak Yawn Throb Spade Revel Primeval overpower