Read the text for general understanding. What is the main idea of the text?
WHAT IS GLOBALIZATION?
Development or degradation? Good or bad? Bliss or bane? What is globalization actually up to? Let us shed light on it all through this information.
Let's face it. People are moving from one country to another, trade restrictions are being reduced, domestic markets are opening up for foreign investments, telecommunications are being considerably improved and the countries that initiate innovations are passing on their know-how to the countries which do not. In short, people are no longer bound by territorial restrictions, unless of course, there are security issues. It's no longer about 'my country and 
me’; it's now more like, 'the world and us'. Businesses are expanding, horizons are widening, and people are coming together to form one homogeneous unit – HUMANITY!
Globalization has rocked our conservative and predictable lives. Call it liberalization, international integration, or broad-mindedness... it has inspired the world with its power and potentiality. If one is asked to give a foolproof answer what it is, it can be said that, globalization is a process by which people, companies, administrations, and governments all over the world can integrate and interact. It is directed by international business and trade, and effectively assisted by information technology. However, globalization does not restrain itself to integration of economies on international basis. There is more to it. Let us begin with defining it.
Definition: Globalization can be defined as an integration of economy, finance, trade, and communications from a world-wide perspective, in order to establish a successful economy on global basis.
The boom of globalization has opened gates for economies both nationally and globally. The last three decades saw many governments adopted the systems of free markets, thus, maximizing their own potential and opportunities for international business as well as investment. What's more, as a result of globalization limitations to business and trade of goods and services across the world are eliminated.
Technology, being one of the chief drivers behind globalization, has transformed the economic life in such as way that people all over the world have new ways to recognize and value the economic opportunities put forth for them. Globalization has stimulated increasing employment, cash flows, development of cultural contacts, foreign trade, and environmental as well as social awareness among people. However, like it's said that there are always two facets to a coin, globalization entails a few negatives too, that are equally considerable. With equal advantages and disadvantages of globalization, it is hard to arrive to a conclusion whether it is a bliss or a bane to the world.
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Point out all international words. Check if they have got similar meaning in Russian.
Read the text below and try to answer the questions of the first paragraph.
Match the words from the text with their synonyms
| 1) domestic | a) understanding |
| 2) bliss | b) expected |
| 3) bane | c) matter, thing |
| 4) homogeneous | d) technology |
| 5) foolproof | e) identical |
| 6) predictable | f) local |
| 7) awareness | g) curse, destruction, evil |
| 8) know-how | h) happiness; |
| 9) issue | i) simple and reliable (contextual) |
Complete the sentences with the words from the previous exercise.
1) Which of the following is the most important _______ facing the country today? The economy? The federal budget deficit? Health care? The threat of terrorism?
2) Our company provides online cultural training for creating cultural ______ helping global team leaders and international businesses understand differences in national mentality.
3) If you are looking for ways to remember things better try these 25 _____techniques to improve your memory.
4) Many people think that social networking is a ______for teenagers because they live in virtual reality.
5) Central bank plays a key role in the _________ financial market.
6) This innovation is a strategic _________in the sphere of space exploration.
7) Success is ________if you know how to deal with people properly.
8) No living language is _______. Language use certainly differs in different situations, with different speakers, in different locations.
9) It’s __________to achieve your lifetime dream!
Words: foolproof, issue, homogeneous, domestic, awareness, bane, predictable, bliss, know-how.
Grammar practice
Present Perfect is used to indicate a link between the present and the past. The time of the action is before now but not specified, and we are often more interested in the result than in the action itself. F.ex. The invention of the wheel has changed the world forever.
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Note: One should bear in mind that there may be a verb tense in your language with a similar form, but the meaning is probably NOT the same.
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