global Economy - 14 united

global Economy - 14 united



To understand this first united you will need to know this words:

• Economic output
• Countries
• Industrialized
• Debts
• global domestic product
• Market
• Interdependence
• Downturn
• Wall Street Trends

SPEAKING

A: Professor. I'm John Dexter, from 'Market News'. Do you have a minute? 

B: Oh yes, I can spare a few minutes to talk. 

A: Do you think that your lecture was well received? 

B: Yes, the audience seemed interested in what I had to say about the global economy. 

A: And does global commerce always benefit a country? 

B: Well, there are some downsides to globalization. But the good usually outweighs the bad. 

A: Can you give me an example of one of the downsides? 

B: Well, in some industrialized countries globalization has led to loss of employment. But I'd prefer you not to mention that in your article. 

A: That's OK. I have plenty of other material. 

WRITING 

How globalization affects the world economy: it leads to increased economic output in many places, which in turn leads to a higher standard of living. Why global trade benefits countries: global trade allows developing countries to trade with industrialized nations. This can help increase gross domestic product, reduce national debts and consumers may also benefit by getting goods at lower prices. Why global trade makes countries dependent on each other: once countries start buying and selling things between each other this means that the decisions of consumers in one country make on what to buy have an effect in the other country, even if it is very far away.