TASK 1: (30´) GROUP WORK

Opportunities

The international market brings a lot of benefits to individuals and businesses, typical
of which are opportunities. First, international markets provide opportunities for
people to study or work abroad. Studying or working abroad is a great chance to
develop yourself. An individual who spends a year abroad essentially refines problem
solving and decision making skills. They also learn, improve and understand the
importance of dialogue among people with different cultural backgrounds. Second,
international markets provide a higher standard of living. It ensures high standard
lifestyle & wealth to citizens of nations participating in international marketing.
Goods that cannot be produced in the home country due to certain geographical
restrictions prevailing in the country are produced by countries which have an
abundance of raw material required for the production and also have no restrictions
imposed towards production. The international market helps to expand trade and
contribute to the development of the domestic economy. For example, in Vietnam, the
international market helps agricultural products not only for domestic consumption,
but also contribute to increasing exports around the world. This creates the country's
own brand as well as being introduced to a large number of international friends.
International markets help to diversify trade. International market integration helps
people have more choices in consumption, contributing to stabilizing and improving
their lives. We will have the opportunity to welcome the quintessence of your country.
From there, it helps to strengthen the position of businesses in the world market.

TASK 2

Vocabulary

Part B:

(1) Controls

(2) Taxes

(3) Liberalize

(4) Barriers

(5) Borders

(6) Customs.

Part C:

1. Tariffs: these are taxes on imported goods

 2. Subsidies: money given to to domestic producers by the government

3. Quotas: limits on the quantity of products that can be imported

4. Expensive licences for importing: permission to import goods

5. Complicated regulations for documents: slow down trade

Part D:

1. A

2. A,b,d

3. a) unfair

b) strategic

c) imports

4. a) The trend towards liberalizing trade and removing trade barriers

b) Because the most successful economies tend to have open markets and most of
their industries have been deregulated.

Part E:

Open markets: open borders, free port, laissez-faire, liberalise, deregulation

Protected markets: barriers, developing industries, dumping, tariffs, strategic

industries, restrictions, quotas, customs, subsidize, regulations

Pard F:

1- e

2- d

3- f

4- b

5- g

6- c

7- a

8-
TASK 3: Reading

A.

Article 1: Stop blaming China for US trade deficit

Article 2: US – China trade has cost 2,3 million American Jobs

B.

Article 1:

1.T

2.F

3.T

4. T

Article 2:

1.T

2.T

3.F

4.T

C.

1. Protectionism

2. Slowdown

3. deficit

4. cooperation

5. risen

6. save

D.

1. Protectionism

2. cooperation
3. slowdown

4. deficit

E.

The intensification of the US-China competition has drawn significant attention in

recent years.The US attitudes toward China have become more negative during this
period, as anger has built over disruptions resulting from the COVID-19 pandemic,
Beijing’s trampling of Hong Kong’s autonomy, human rights violations in Xinjiang,
and job losses to China, ect. Although in november 2021 Joe Biden and Xi Jinping
held a teleconference during which both leaders pledged to manage competition in the
future, we still remain skeptical about the prospect of the two countries working
together to amicably resolve their differences. As the economic power between the
two countries changes, China is now closer to the US than ever in terms of economic
strength. Therefore, the bilateral relationship will be more about competition rather
than cooperation.