BUSINESS ENGLISH I GUIDE 1

STEP 1 Reading: the U.S. Dollar

Russia's Foreign Minister Sergei Lavrov has suggested that the U.S. dollar could be losing its status as the
world's most important currency. Mr Lavrov said that because the U.S. has imposed economic sanctions on
countries like Iran, Turkey and Russia, these countries could start conducting international business in their
own national currencies instead of the dollar. In addition, countries that have had trade tariffs imposed on them
by the U.S. could also do trade in their own currencies. This could include the global economic superpower
China ditching the dollar. China is already setting up trade deals in its own currency. Experts say the U.S.
dollar could lose its position as the international reserve currency.
The U.S. dollar replaced the British pound as the international reserve currency in the 1920s. Since then, most
international trade has taken place using the dollar. Today, when China buys oil from Iran, it pays in U.S.
dollars. This means more U.S. dollars flow out of the U.S. than flow in. The effect of this is the U.S. has a
currency deficit as its dollars are in the bank accounts of other countries. Mr Lavrov said: "I'm confident that the
grave abuse of the role of the U.S. dollar as a global reserve currency will result over time in the weakening
and demise of its role." China's currency the yuan is emerging as an alternative trading currency. Africa's most
populous nation Nigeria has already started trading using the yuan.

1. Exercises Reading Comprehension analysis

a. TRUE / FALSE
1. Russia said the dollar has lost its status as the global language. T / F
2. Russia, Turkey and Iran may start trading using their own currencies. T / F
3. Countries the US has imposed tariffs on could abandon the dollar. T / F
4. China is already using its own currency to trade. T / F
5. The dollar became the international reserve currency in the 1940s. T / F
6. If China buys oil from Iran, it pays in U.S. dollars. T / F
7. The USA has a currency surplus. T / F
8. Nigeria is continuing to do trade using the U.S. dollar. T / F

b. SYNONYM MATCH: Match the following synonyms from the article.

1. Suggested a. serious
2. status b. doing
3. imposed c. specialists
4. conducting d. standing
5. experts e. consequence
6. replaced f. shortfall
7. effect g. indicated
8. deficit h. substitute
9. grave i. applied
10. alternative j. took over from
c. Choose the correct answer
1. Sergei Lavrov has suggested that the U.S. 6. Since then, most international trade has taken
dollar could be ______ d b dollar
______
a. lose in its status a. plaice using the
b. loose in its status b. place using the
c. lost in its status c. please using the
d. losing its status d. plaid using the
2. Mr Lavrov said that because the U.S. has 7. This means more U.S. dollars flow out of the
imposed economic ______ a countries c
U.S. ______
a. sanctions on a. that flow in
b. suctions on b. than flows in
c. sank shuns on c. than flow in
d. sank shines on d. then flew in
3. conducting international business in their own 8. the U.S. has a currency deficit as its dollars are
a
national currencies ______ dollar d countries
in the bank ______
a. instead off the a. account of other
b. instead at the b. accounts of another
c. instead of the c. accounts of others
d. instead as the d. accounts of other
4. This could include the global economic 9. Mr Lavrov said: "I'm confident that the grave
superpower China ______ d abuse of the ______b U.S. dollar..."
a. stitching the dollar a. roll of the
b. hitching the dollar b. role of the
c. pitching the dollar c. role off the
d. ditching the dollar d. role of a
5. Experts say the U.S. dollar could lose its 10. Africa's most populous nation Nigeria has
c
position as the international ______ d yuan
already started ______
a. reserves currency a. trade in using the
b. preserved currency b. trading use in the
c. reserve currency c. trading in using the
d. preserve currency d. trading using the

d. Comprehension questions
1. What is the name of Russia's foreign minister?
Sergei Lavrov
____________________________________________
2. What did the USA impose on Turkey, Iran and Russia?
Economic sanctions
____________________________________________
3. What could countries like Turkey and Iran use instead of the dollar?
Start conducting international business in their own national currencies.
____________________________________________
4. What could the economic superpower China do to the dollar?
Could lose its position as the international reserve currency.
____________________________________________
5. Who said the dollar could lose its position as the reserve currency?
Experts
____________________________________________
6. What was the international reserve currency before the dollar?
British pound
____________________________________________
7. What might China buy from Iran and pay for in dollars?
Oil
____________________________________________
8. What does the USA have because so many dollars flow out of the US?
 Currency deficit as its dollars are in the bank accounts of other countries
____________________________________________
9. What did the article say is emerging as an alternative trading currency?
China's currency the yuan
____________________________________________
10. Which country has already started trading in China's currency?
Nigeria has already started trading using the yuan.
____________________________________________
e. Organize the words to give sense to the idea
Currency
1. the world's most important ucrerycn __________________________________________________
Sanctions
2. imposed economic tcnonssia on countries_______________________________________________
Conducting
3. gundionctc international business_______________________________________________________

Tariffs
4. trade fatsfir _____________________________________________________________
Ditching
5. China hidcigtn the dollar__________________________________________________
Reserve
6. the international veresre__________________________________________________
Effect
7. The fftcee of this_________________________________________________________
Abuse
8. the grave busea of the role_________________________________________________
Demise
9. dsmeei of its role_________________________________________________________
Emerging
10. the yuan is eeimngrg_____________________________________________________
11. as an leernittvaa Alternative
______________________________________________________
Populous
12. Africa's most uuolspop nation _____________________________________________

STEP 2: Phrasal verbs in Business English

Choose the correct option

1. We ________________up with a new structure. 6. We need to ______________( = examine/review)

= We developed/created a new structure. these reports before 3:00 PM.
a. came a. go through
b. brought b. get around
c. gave c. give off
2. We have to ________________ out ( = develop) 7. We need to ___________ ( = schedule/arrange)
a better way to communicate with our customers. an interview for Friday.
a. figure a. set up
b. come b. take off
c. giv c. save up
3. They cut ________________ ( = eliminated) the 8. The meeting has been ____________________
middleman and started providing this service off ( = cancelled).
themselves. a. made
a. off b. talked
b. up c. called
c. out
4. Tom found a way to ____________________( = 9. The president has called ________________ ( =
bypass/eliminate) this problem. requested) sweeping changes in the way we do
a. get down business.
b. get around a. up
c. get up b. for
c. around
5. Please ______________________on. = Please 10. I knew they'd _________________to our way
continue. of thinking. = I knew that they would eventually
a. give accept our way of thinking.
b. get a. get up
c. go b. come around
c. feel out
STEP 3:Technical Vocabulary:
https://quizlet.com/24952172/company-structure-flash-cards/ (audio of technical vocabulary,
second part)

Company Structure

1. Accounts Dept. department responsible for administering a company's financial affairs

2. A.G.M. Annual General Meeting of a company's shareholders
3. board of directors group of people chosen to establish policy for and control a company
4. chairman person who heads a Board of Directors; head of a company; chairperson
5. director a member of the board of directors
6. executive officer person managing the affairs of a corporation
7. headquarters a company's principal or main office or centre of control
8. manager person responsible for day-to-day running of a dept.; executive officer
9. managing director senior director after the chairman responsible for day-to-day direction
10. Marketing Dept. department that puts goods on market, inc. packaging, advertising, etc.
11. organization chart a table or plan showing a company's structure graphically
12. Personnel Dept. department responsible for recruitment and welfare of staff or employees
13. president the highest executive officer of a company; head of a company
14. Production Dept. department responsible physical creation of a product
15. Purchasing Dept. department responsible for finding and buying everything for a company
16. R & D Dept. department responsible for Research and Development of products
17. reception the place where visitors and clients report on arrival at a company
18. Sales department department responsible for finding customers and making sales
19. shareholder person who holds or owns shares in or part of a company or corporation
20. vice president any of several executive officers, each responsible for a separate division

Elaborated by Teacher:
ZILIA SOFIA RUBIANO MORALES.

Bibliography:
https://www.englishclub.com/business-english/what.htm
http://www.voanews.com/
www.agendaweb.org
https://learnenglish.britishcouncil.org/en/english-grammar
www.esl-lab.com