Unit 1 International Business Lead-in Reading: International Business Session 1.

Unit 1 International Unit 1 International BusinessBusiness

Lead-in

Reading: International Business

Session1

Lead-in

Task 1

Task 2

Task 3

Section I

Task 4

Task 1Work in pairs. Talk about international business activities shown in the pictures below.

① Business cooperation ① Business cooperation

② Trade fair ② Trade fair

③ Business negotiation ③ Business negotiation

Task 2Work in groups. Find as many words, phrases or expressions as possible about business.

Persons involved in business

Places where Business Activities are Conducted

Business Activities

salesman market sales

retailerretailer

suppliersupplier

manufacturermanufacturer

distributordistributor

consignerconsigner

wholesalerwholesaler

consumerconsumer

department storedepartment store

companycompany

stock exchangestock exchange

enterpriseenterprise

bankbank

trade fairtrade fair

meeting roommeeting room

purchasepurchase

orderorder

serviceservice

paymentpayment

transportationtransportation

exhibitionexhibition

negotiationnegotiation

Task 3Work in pairs. Discuss what type of international business the following organizations or enterprises are engaged in.

① Direct Investment ① Direct Investment

② Trade in services (Transportation)

② Trade in services (Transportation)

③ Portfolio Investment ③ Portfolio Investment ④ Foreign Trade ④ Foreign Trade

Task 4

1. What caused international business? The development of economy and the expansion of

international market.2. In what aspects can we find the impact of

business globalization? In almost every aspect of our daily life we can find business globalization.3. What is the greatest contribution foreign investment makes to a country? More foreign investment means great opportunity for the development of the country. It also reflects the opening level of a country’s markets which builds up a positive image.

Work in pairs. Discuss the following questions.

Reading

Introductory Remarks

Warm-up Discussion

Intensive Reading

Section Ⅱ

Practice

International business refers to the exchange of goods or services produced by one country for goods or services produced by another country. It can be broken down into four types: foreign trade, trade in services, portfolio investments, and direct investments.


With the development of economy, today’s international business has become a global affair. Globalization may bring in many benefits as well as some problems.


1 Before you read, work in airs and discuss the following questions.

1) What is international business in your opinion?2) What does international

business benefit us?

Warm-up Discussion

In its purist definition, international business is described as any business activity that crosses national boundaries. The entities involved in business can be private, governmental, or a mixture of the two ⑴. International business can be broken down into four types: foreign trade, trade in services, portfolio* investments, and direct investments.

Intensive Reading

International Business

Text

※ Foreign Trade Visible physical goods* or commodities moving between countries are exports or imports ⑵. Exports consist of merchandise that leaves a country. Imports are those items brought across national borders into a country. Exporting and importing comprise the most fundamental, and usually the largest, international business activity in most countries ⑶.

Intensive Reading

Text

※ Trade in ServicesIn addition to tangible goods, countries also trade in

services, such as insurance, banking, hotels, consulting, travel and transportation. The international firm is paid for services it renders in another country ⑷.

※ Portfolio Investments Portfolio investments are financial investments

made in foreign countries ⑸. The investor purchases debt or equity in the expectation of nothing more than a financial return on the investment ⑹. Resources such as equipment, time or personnel are not contributed to the overseas venture ⑺.

Intensive Reading

Text

※ Direct Investments Direct investments are differentiated by much greater levels of control over the project or enterprise by the investor. The level of control can vary from full control, when a firm owns a foreign subsidiary* entirely, to partial control, as in arrangements such as joint ventures with other domestic or foreign firms or a foreign government ⑻.

Intensive Reading

Text

International business is not new, having been practiced around the world for thousands of years, although its forms, methods, and importance are constantly evolving ⑼. In ancient times, the Phoenicians, Mesopotamians, and Greeks traded along routes established in the Mediterranean. The Industrial Revolution further encouraged the growth of international business by providing methods of production for mass markets and more efficient methods of utilizing raw materials ⑽.

Intensive Reading

Text

By the 1880s the Industrial Revolution was in full swing in Europe and the United States, and production grew to unprecedented levels, abetted by scientific inventions, the development of new sources of energy, efficiencies achieved in production, and improvements in transportation, such as domestic and international railroad systems ⑾. Growth continued in an upward spiral as mass production met and surpassed domestic demand, pushing manufacturers to seek enlarged, foreign markets for their products ⑿.

Intensive Reading

Text

International business is full of opportunities and conflicts. Globalization of business is seen by much of the world as creating wealth that benefits nations and individuals worldwide. Peter Wuck, a managing director of the World Bank*, credits globalization with providing the essential ingredients of success to entrepreneurs and corporations in developing regions ⒀.

☆ A hydroelectric dam in Uganda constructed by a multinational power plant builder ensures that farmers, manufacturers, and service businesses have the reliable electricity they need.

Intensive Reading

Text

☆ A banana grower in Ecuador gained markets in Russia and China, enabling him to expand into an integrated agribusiness. With his profits, this grower financed schools and helped protect a tropical rain forest.

☆ World Bank funding supported a network of entrepreneurs in South Africa and band service upgrading in Latin America, making the formation of new businesses much easier.

“Globalization,” Wuck concludes, “is what can help would-be industrialists change the labels of their countries from developing to developed.”

Critics of business globalization, on the other hand, believe that it increases the wealth of corporations and investors at the expense of the poor; ignores human rights and spoils the environment ⒁. They point to the growing debts of developing countries and note that one billion people live on less than the equivalent of $1 a day. 30 000 protestors once demonstrated as the meeting of the World Trade Organization in the “Battle of Seattle”. The next year, 8 000 protestors disrupted the September meeting of the International Monetary Fund (IMF*) and World Bank in Prague. At the World Economic Forum in Davos, Switzerland, activists voiced their outrage at policy makers.

Intensive ReadingText

The World Bank, IMF, WTO and other institutions believe it is simplistic to blame globalization for worsening poverty worldwide. The causes of poverty are numerous and complex, including war, disease (such as the African AIDS pandemic), corruption, illiteracy, and lawlessness ⒂. In fact, the percentage of people living in absolute poverty worldwide has actually declined. Furthermore, a joint study released in February 2001 by the United Nations, the Organization for Economic Cooperation and Development, the World Bank, and the IMF reports that the goal of reducing poverty by half from 1990 to 2015 is on schedule.

Intensive Reading

Text

Intensive Reading Text analysis1) The entities involved in business can be private,

governmental, or a mixture of the two.

实业所涉及的实体可以是私人性质的，政府性质的，或者是两种的综合体。

Here “entities” refer to the companies or agencies owned and run by individuals, government or a combination of the two. These kinds of entities have some types mentioned above. “involved in” meaning concerned or associate significantly is a past participle used to modify “entities”.

e.g. I don’t want to get involved in the business you told me. A person involved in business is called businessman.

TranslationTranslationTranslationTranslation

Analysis Analysis Analysis Analysis


2) Visible physical goods or commodities moving between countries are exports or imports.

国家间有形货物或商品的流动称之为进口或出口。

visible: capable of being perceived by the eye e.g. Visible trade is one form of international trade. We should try our best to avoid those visible risks during transportation.

Word studyWord studyWord studyWord study

Intensive Reading Text analysis

consistvi.（与 of 连用）组成，构成，包括，由…组成The United Kingdom consists of Great Britain and Northern Ireland.联合王国包括大不列颠与北爱尔兰。His job consists of helping old people who live alone.他的工作包括帮助无人照顾的独居老人。（与 in 连用）在于The beauty of the plan consists in its simplicity.这个计划妙就妙在简明扼要。（与 with 连用）一致，符合Theory should consist with practice.理论应与实践相一致。

3) Exporting and importing comprise the most fundamental, and usually the largest, international business activity in most countries.

进出口贸易构成了大多数国家最基本的，通常也是最大数额的国际贸易活动。

comprise: to include; containe.g. The committee is comprised of eight members. Industrial unions generally comprise a number of diverse不同的 groups.





4) The international firm is paid for services it renders in another country.

跨国企业因其在别国提供的服务而获取报酬。

render: to present or submit (accounts, etc.) for payment, approval, or actione.g. The treasurer；财务主管 rendered an account of all the money spent. We are ready to render them assistance.



5) Portfolio investments are financial investments made in foreign countries.

有价证券投资是指在别国进行的金融投资。

portfolio:一组投资 ,投资组合the complete investments held by an individual investor or by a financial organizatione.g. Portfolio investment in the form of “China funds” is also popular. The term portfolio means the collection of assets one owns.




6) The investor purchases debt or equity in the expectation of nothing more than a financial return on the investment.

投资者购买债券或股票的目的只不过是想获得更多的投资收益。




equity: the market value of a debtor's propertyin excess of all debts to which it is liable除去所产生债务后证券的市场价值e.g. In an equity joint venture股权合资企业 , the profits and risks are shared according to the partner ‘s shares of equity in that venture.

nothing more than ： just, onlye.g. The success is nothing more than doing well whatever you do without a thought of fame. Coca-Cola owns nothing more than the recipe for a syrup 糖浆果汁 and the copyright on a logo, yet it is a multi-billion数十亿 dollar business.



7) Resources such as equipment, time, or personnel are not contributed to the overseas venture.

设备、时间，人员等资源不会对海外投资产生任何作用。

In this sentence, the real subject is “resources”, therefore no matter what form of nouns follows “such as”, the verb form should be plural.

be( not) contributed to: (not) lead to e.g. Our company is contributed greatly to this process.


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8) The level of control can vary from full control, when a firm owns a foreign subsidiary entirely, to partial control, as in arrangements such as joint ventures with other domestic or foreign firms or a foreign government.

对企业的控制程度可以是全部控制，如公司拥有海外子公司；也可以是部分控制，如与国内外公司或外国政府合作建立合资企业。

subsidiary: serving to aid or supplement; auxiliarye.g. Our company will set up a sale subsidiary in China. A lack of team spirit made the subsidiary an orphan.




9) International business is not new, having been practiced around the world for thousands of years, although its forms, methods, and importance are constantly evolving.

国际贸易并不是新生事物，它已经在全世界经过长达数千年的实践，尽管其形式，方式和重要性总在不断地演变。

“having been----years” is a past participle used as a parenthesis 插入语 to modify “international business”. e.g. We like the house, painted white, although it is very expensive. This problem, settled just now, should be reconsidered.




The British present political system has evolved over several centuries.英国的现行政治制度是经过几个世纪逐步发展而成的。The developmental history of the society tells us that man has evolved from the ape.社会发展史告诉我们人是从类人猿进化来的。

10) The Industrial Revolution further encouraged the growth of international business by providing methods of production for mass markets and more efficient methods of utilizing raw materials.

工业革命提供了大规模生产方式和大规模的市场，以及利用原材料更为有效的方法，从而进一步促进了国际贸易的发展。

“by providing…” is a preposition phrase used as an adverbial of manner to modify the whole sentence.e.g. They maintained a friendly business relationship by exchanging opinions frequently via E-mail. We will let you know more about our company by sending you our brochure and some samples.




11) By the 1880s the Industrial Revolution was in full swing in Europe and the United States, and production grew to unprecedented levels, abetted by scientific inventions, the development of new sources of energy, efficiencies achieved in production, and improvements in transportation, such as domestic and international railroad systems.

到了 19世纪 80年代工业革命在欧洲和美国全面推行。生产发展到史无前例的水平，这得益于科技发明、新能源的发展和生产效率的提高，以及包括国内外铁路系统在内的运输能力的提高。



This is a compound sentence consisting of two sentences which are linked by the conjunction “and”. “By the 1880s” is an adverbial of time. The subject of the first sentence is “the Industrial Revolution”, “in Europe and the United States” is an adverbial of place. The subject of the second sentence is “production”, and “abetted… railway system” is a past participle modifying the subject “production”, in which “achieved” is also another past participle modifying the former nouns.



in full swing: at the highest level of activity活跃e.g. The meeting was in full swing when we arrived. The factory was in full swing for the first time in these years. unprecedented: having no precedent;先例 unparalleled空前的e.g. Our firm faced unprecedented difficulties.abet: to assist or encourage帮助 , 支持 e.g. He is abetted in business activities by his wife. The cashier abetted by an assistant, misappropriated盗用 company funds.



12) Growth continued in an upward spiral as mass production met and surpassed domestic demand, pushing manufacturers to seek enlarged, foreign markets for their products.

大规模生产满足并超越了国内消费需求，工业革命继续呈现上升趋势，这样就迫使生产者为其产品寻求更为广大的海外市场。




spiral: something that pursues a winding, usually upward, course or that displays a twisting form or shape不断地急剧上升或下降e.g. The company’s budgets continued to spiral. Profits began to spiral up. mass production: the production of large quantities of a standardized article (often using assembly line techniques) e.g. Soon the car will go into mass production. Having been trial-produced for several times, this new product will put into mass production.


13) Peter Wuck, a managing director of the World Bank, credits globalization with providing the essential ingredients of success to entrepreneurs and corporations in developing regions.

皮特•乌克，世界银行的常务董事评价说，全球化给发展中地区企业家和公司的成功提供了基本要素。



ingredient: a component of a mixture, compound, etc., esp. in cookinge.g. Advertisement is an important ingredient of promotion activities. What are the ingredients of the product?entrepreneur: the owner or manager of a business enterprise who, by risk and initiative, attempts to make profitse.g. I think my life has already evolved from a "student" to an entrepreneur. He wouldn’t have succeeded in such a risky business if he hadn’t been such a clever entrepreneur.




14) Critics of business globalization, on the other hand, believe that it increases the wealth of corporations and investors at the expense of the poor; ignores human rights and spoils the environment.

另一方面，经济全球化的反对者认为，全球化以牺牲穷人利益，忽视人权以及破坏环境为代价让公司和投资者获得了巨大的财富。

at the expense of ： at the cost ofe.g. We strive for property but not at the expense of our lives. Although we should fulfill these goals, they must not be addressed 进行 at the expense of our clients.



15) The causes of poverty are numerous and complex, including war, disease (such as the African AIDS pandemic), corruption, illiteracy, and lawlessness.

造成贫困的原因是多样、复杂的，这其中包括战争因素，疾病因素（比如非洲艾滋病的流行），腐败，文盲以及法制的缺失。



“including war…” is a participle used to complement what’s mentioned in the sentence. corruption: dishonesty, esp. briberye.g. The city is riddled with充斥 corruption. Corruption is one of the reasons for the company’s bankruptcy.



2 Read the text and finish the following comprehension tasks.

Practice

1) International business has four types. Name them.1) International business has four types. Name them.

2) What does “Portfolio Investment” mean according to the passage?2) What does “Portfolio Investment” mean according to the passage?3) Explain the history of international business.3) Explain the history of international business.

4) What does the author mean by saying “International business is full of opportunity and conflict?”4) What does the author mean by saying “International business is full of opportunity and conflict?”5) In what way can we reduce poverty?5) In what way can we reduce poverty?

Keys to comprehension tasksKeys to comprehension tasks

1) International business can be broken down into four types: foreign trade, trade in services, portfolio investments and direct investments.

1) International business can be broken down into four types: foreign trade, trade in services, portfolio investments and direct investments.

2) Portfolio investments are financial investments made in foreign countries — The investor

purchases debt or equity in the expectation of nothing more than a financial return on the investment.

2) Portfolio investments are financial investments made in foreign countries — The investor

purchases debt or equity in the expectation of nothing more than a financial return on the investment.


3) International business is not new, having been practiced around the world for thousands

of years, although its forms, methods, and importance are constantly evolving. In ancient

times, the Phoenicians, Mesopotamians and Greeks traded along routes established in the

Mediterranean. The Industrial Revolution further encouraged the growth of international

business by providing methods of production for mass markets and more efficient methods

of utilizing raw materials.

3) International business is not new, having been practiced around the world for thousands

of years, although its forms, methods, and importance are constantly evolving. In ancient

times, the Phoenicians, Mesopotamians and Greeks traded along routes established in the

Mediterranean. The Industrial Revolution further encouraged the growth of international

business by providing methods of production for mass markets and more efficient methods

of utilizing raw materials.


4) Globalization of business is seen by much of the world as creating wealth that benefits nations and individuals worldwide at the expense of the poor; ignores human rights and spoils the environment.

5) Through further development of globalization of business.

1) The exchange of gifts supplied by Chinese clients for

the gifts by American clients is one form of

international business.

2) We can only find Portfolio Investment in one country.

3) The development of Industrial Revolution contributed

to the rapid growth of international business.

4) The author used three examples to show how

globalization benefited people all around the world.

5) Globalization of international business is one cause of

poverty according to the passage.

3 Read the text again and decide whether the following statements are true (T) or false (F).

T

F

F

F

T

Unit 1 International Business Lead-in Reading: International Business Session 1.

Documents

Transcript of Unit 1 International Business Lead-in Reading: International Business Session 1.