1. Summarize what changes happen to the following things from the list given below. You may develop the list. Your own ideas are welcome!

• trade restrictions and limitations;

• innovations;

• domestic markets;

• telecommunications (as well as other means of communication);

• money in the form of investment and transactions;

• usual people;

• businesses and businessmen;

• horizons (opportunities and prospects).

1. Define the word “globalization”. Refer to your own experience. Exchange opinions.

Reading and Vocabulary

Globalization is a very controversial issue today. Opinions vary considerably over its pros and cons. You can find some of them below. Read the text in detail.

PROs

• Goods and people are transported with ease and speed;

• the possibility of war between developed countries decreases;

• free trade between countries is stimulated;

• competition rises thus reducing prices and improving the quality of production;

• global mass media connects all people all over the world;

• as the cultural barriers reduce, the global village dream becomes more realistic;

• there is a spread of democratic ideals;

• growth of interdependence of the nation-states;

• developed countries can invest in developing ones;

• flexibility of corporations to operate across borders rises;

• the communication between individuals and corporations in the world increases;

• environmental protection in developed countries grows.

CONs

• Outsourcing of manufacturing and white-collar jobs to the Third-World with a low labour cost;

• increase in activities such as child labour and slavery;

• growth of terrorism and criminality;

• ecological problems, especially in developing countries – these areas turn into garbage-dumps where all industrial waste is accumulated and pollution levels are sky-high;

• spread of consumption junk food as fast food chains like McDonalds and KFC are expanding fast all over the world;

• poverty in developing countries rises;

• spread of deadly viruses and diseases like AIDS on a global scale;

• environmental degradation and devastation of natural reserves of the planet Earth.

Effects of globalization

• Improvement in the information flow between geographically remote locations

• the global common market has a freedom of exchange of goods and capital

• there is a broad access to a range of goods for consumers and companies

• worldwide production markets appear

• free circulation of people of different nations leads to social benefits

• global environmental problems like cross-boundary pollution, over fishing on oceans, climate changes are solved by international discussions

• more trans-border data flow using communication satellites, the Internet, wireless telephones, etc.

• international criminal courts and international justice movements are launched

• the standards applied globally like diplomas, patents, copyright laws and world trade agreements increase, so documents, authorized by one country are quite often recognized in another

• international travel and tourism increases

• multiculturalism, a concept that emerged from globalization, maintains different cultures and promotes their social linking

• multilingualism develops, as every society has its own cultural identity. People learn foreign languages and lifestyle of other cultures

• worldwide sporting events like the Olympic Games and the FIFA World Cup are held

• enhancement in worldwide fads and pop culture

• local consumer products are exported to other countries

• immigration between countries increases

• cross-cultural contacts grow and cultural diffusion takes place

• there is an increase in the desire to use foreign ideas and products, adopt new practices and technologies and be a part of world culture

• free trade zones are formed having less or no tariffs

• capital control is reduced