单选题What was the impact of the currency crisis that broke out in Thailand in 1997?A Emerging markets had no confidence in their economic growth.B Foreign capital continued to flow into emerging markets at a slower rate.C International investors profited a

Which of the following is true?

Information about the current foreign markets （） very important to our company.

Practice 7　　While there are a few different conceptualizations of globalization, researchers seem to be in agreement that there are at least three dimensions of globalization: economic, political and cultural. The economic aspects of globalization stem from the spread of the capitalist world economy and the resulting expansion of goods and services. The need for cheap raw materials, cheap labor and new markets saw the expansion of the capitalist world economy from one that was primarily Eurocentric to one that encompassed the entire world. This process was achieved by various means and often involved overcoming political resistances in the new markets. The political aspects of globalization involved establishing control over markets and raw materials through either the use of direct military power or the establishment of international institutions that control such markets. The rise of the nation-state is an example of the political aspect of globalization, although it is argued that advances in telecommunications and information systems and the resulting constructions of institutions that transience territorial boundaries are making the nation-state obsolete.

The war broke out in the outskirt of the capital of the country.

According to the passage, what are characterized by their centrally executed bids?

Practice 5　　“The US governs the international system to protect its own economy. It is not in charge of protecting other economies.” Soros says. “So when America goes into recession, you have anti- recessionary (反衰退的) policies. When other countries are in recession, they don’t have the ability to engage in anti-recessionary policies because they can’t have a permissive monetary policy. because money would flee.” In person, he has the air of a philosophy professor rather than a gimlet-eyed (目光敏锐的) financier. In a soft voice which bears the faces of his native Hungary. he argues that it is time to rewrite the so-called Washington consensus—the cocktail of liberalization, privatization and fiscal rectitude which the IMF has been preaching for 15 years. Developing countries no longer have the freedom to run their own economies, he argues, even when they follow perfectly sound policies. He cites Brazil, which although it has a floating currency and manageable public debt was paying ten times over the odds to borrow from capital markets.　　Soros credits the anti-globalization movement for having made companies more sensitive to their wider responsibilities. “I think [the protesters] have made an important contribution by making people aware of the flaws of the system,” he says. “People on the street had an impact on public opinion and corporations which sell to the public responded to that.” Because the IMF has abandoned billion dollar bailouts(紧急融资)for troubled economies, he thinks a repeat of the Asian crisis is unlikely. The fund ‘s new “tough love” policy—for which Argentina is the guinea pig——has other consequences. The bailouts were a welfare system for Wall Street, with western taxpayers rescuing the banks from the consequences of unwise lending to emerging economies. Now the IMF has drawn a line in the sand, credit to poor countries is drying up. “It has created a new problem-the inadequacy of the flow of capital from center to the periphery(外围),” he says.

请翻译如下一段话： The liberalization of international service trade means the process during which a certain government drops off the governmental administrative intervenes in the flow of Person/Capital/goods/ information among countries that is about service or service-related, and deregulates the foreign trade through legislation and international agreements.

The current crisis should ______ as a warning not to be overconfident in the markets.

China and Russia’s speeches ______.

According to the passage, what are characterized by their less centralized trades negotiated between dealers?

What happened to many East Asian countries in 1999?

Q2: How important is an understanding of business culture in other countries for success in foreign markets? (Why?/Why not?)

What happened to China in 1998?

Discuss, and decide together:　　● What measures are most effective for identifying new export markets?　　● How to maintain sales in export markets?

Passage 7U. S consumer prices climbed faster than expected in May, further fanning investor fears over inflation. Stock markets around the world have cracked sharply lower the past few weeks, with the Dow Jones Industrial Average losing all the ground it had gained so far this year. Japan’s stock market is down 11% on the year; gold has had its biggest slide in a decade and a half; and many emerging markets are wobbling. After Wednesday’s Consumer Price Index report from the Labor Department, which showed a 0.4 percent increase in prices for May (core inflation, which excludes food and energy, rose 0.3 percent), the stock market made a comeback. But with future interest rate hikes now starting to be priced into the market, investor fears that central bankers around the world will go overboard and continue to drive rates higher is set to further spook markets. This is no trading correction that investors have to absorb. The real risk of a jarring bear market has emerged.　　But while the trauma that inflation created for investors in the 1970s is still close to the surface, the sudden frenzy is misplaced. Powerful forces in the world economy continue to keep prices largely in check.　　Over the past decade, inflation has been a minor threat compared with brutal deflationary shocks. They started with the collapse of the Mexican peso in the mid-1990s. In 1997, much of eastern Asia’s flourishing economy was leveled. Next were Russia, Turkey and Argentina; Brazil teetered on the brink. By early 2001, Silicon Valley, the pride of the U. S. economy, was crashing, while entire sectors of the so-called New Economy disintegrated.　　The tech wreck may be over, but it has left a legacy of low prices. Tech companies had to dump on the market everything from fiberoptic networks to computer chips, as desperate investors struggled to raise cash. That slashed telecommunication costs at the very moment that emerging markets were producing a skilled and hungry generation of information workers. Result? The offshore outsourcing revolution and downward pressure on global production costs that keeps inflation under control. Equally powerful are the ultra-low-cost emerging-market manufacturing bases, led by China. With more than 1 billion people set to enter the urban labor markets of China, India, Brazil and Indonesia in the next 20 years, all those pressures on prices will only intensify.　　More immediate forces are also at work to keep prices from surging. Despite some wishful thinking, growth in Europe is slowing, not accelerating. A large part of U. S. growth has been driven by booming real estate prices. But in the past two years, the Fed has increased rates 16 times, so real estate-driven consumption is yesterday’s news. Tomorrow’s story will be the sharp fall in U. S. growth as consumers face higher mortgage costs. That dynamic could become particularly nasty, given the record level of U. S. household debt, government deficit and unequaled current-account shortfall.　　Investors are often caught flat-footed when markets slide. In 2001-02, deflation was the fear of the day, but few investors at the time saw the opportunity in commodities, which were going for a fraction of today’s prices. Today investors are obsessed with inflation, while government and top- tier corporate bonds are shunned.　　That should be telling us something. What is it? In the past few years, the central banks of Japan, the U. S. and Europe have cut interest rates so aggressively that the real cost of borrowing fell to, effectively, below zero. That spurred extraordinary amounts of debt financing by governments and corporations. But now, as the global credit cycle tightens, some of the marginal investments will quickly become unsustainable. If central bankers keep raising interest rates, deeper cracks would open in the world economy.　　What is really troubling markets is not inflation. It is the fear that central banks may have tightened too much, and will tighten further. If that happens, the recent market shock would be merely the precursor to a still more dramatic quake.　　1. What is the situation of the world financial markets recently? What is the situation expected to be in the near future?　　2. What does the author mean by “the tech wreck may be over, but it has left a legacy of low prices”? (Para.4)　　3. What is the relationship between real estate market and economic growth in US in the past and in the near future?　　4. According to the author, what are the “powerful forces” that can keep inflation “largely in check”?

$30 billion might seem a lot of money, but it's a mere____ in terms of what global capital  markets can do absorb.