Liberalisation

Planned economy
FDI inflow
Foreign owned firms /Foreign ownership
Customized software
Back-office outsourcing
Efficient capital markets
Entrepreneurial culture
Global diaspora
Cross-border merger-and-acquisition
Value-added products and services
International expansion / harmonization
Sustained competitive advantage
Joint venture
Chasing the Dragon and the Tiger - Vocabulary work
Match the phrases with the definitions 1-14 below
1) All the many mechanisms by which savings can be conveyed to those who wish to use it for
investment. Most obviously, it includes the markets for stocks and bonds. They are used for the
raising of long term finance, such as the purchase of shares, or for loans that are not expected to be
fully paid back for at least a year
2) It refers to the complete or majority ownership/control of a business or resource in a country by
individuals who are not citizens of that country, or by companies whose headquarters are not in that
country
3) The opening up of border and markets to foreign products, services and investment
4) The combination of what were previously two separate firms into one, either by their joining
(merging) together as more or less equals or by one acquiring the other. These occur increasingly
across national borders, thus constituting an important form of FDI
5) The allocation of resources into production or business in a country by an individual or company of
another country, either by buying a company in the target country or by expanding operations of an
existing business in that country.
6) The activities of an organisation that are necessary to its functioning but are not directly part of
production, such as accounting. Such activities, despite the name that suggests a location behind the
shop or shop floor, are increasingly done at remote locations, including in other countries
7) Activity that increases the value of a product at a given stage in a production cycle or supply chain.
For example, a timber company cuts down trees, which adds value to the wood because it can then
be used. It may then sell the timber to a miller, who adds value by refining the timber into planks of
wood. A carpenter who buys the planks adds value by making them into a table, which can then be
sold to a customer. The concept of value added is most important in countries and other jurisdictions
that have a value-added tax.
8) An undertaking by two parties for a specific purpose and duration, taking any of several legal forms.
Two corporations, for example, perhaps from two different countries, may undertake to provide a
product or service that is distinct, in kind or location, from what the companies do on their own
9) is an economic system in which decisions regarding production and investment are embodied in a
plan formulated by a central authority
10) The talent, knowledge, and willingness to engage in new activities, especially those that may result
in new kinds of businesses
11) The process of standardizing laws, regulations and practices to facilitate the expansion, fairness and
efficiencies of competing in a globalized economy as in intergrated, international accounting
standards, harmonized trading practices, and the sharing of technology for information
dissemination.
12) a dispersion or spreading all over the world, as of people originally belonging to one nation or
having a common culture
13) Usually refers to characteristics that permit a firm to compete effectively with other firms due to low
cost, superior technology, or aggressive marketing, internationally. Applied to nations, the word has
a mercantilist connotation
14) also known as bespoke software) is software that is specially developed for some specific
organization or other user