MONDAY

1. THEORY

Leading Economic Blocs

2. ANALYTICS

What Stopped Globalization?

WEDNESDAY

3. STATISTICS

4. CURRENT ISSUES

5. ANALYTICAL COMMENTARY


VOCABULARY & GRAMMAR

KEY TERMS
economic bloca set of countries which engage in international trade together, and are usually related through a free trade agreement or other association
gross domestic product (GDP)the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period
market accessthe ability of a company or country to sell goods and services across borders
customs procedures the set of managements and operations that are carried out related to a specific customs destination
standards harmonizationtechnical specifications meeting the essential requirements of the EU directives
social welfare policiesaims to protect citizens who may be considered poor, unemployed, unhealthy, or marginalized from their community
common currencymoney system for more than one country
representative bodya body or persons (an association, trade union, works council) chosen to make decisions or craft the policy on behalf of  a larger group
admissionthe process or fact of entering or being allowed to enter an organization
per capita income a measure of the amount of money earned per person in a nation or geographic region
FOCUS WORDS
deterудерживать, останавливать
apparentlyпо-видимому, очевидно, вероятно
unprecedentedбеспрецедентный
incentiveстимул, побуждение
implicationсмысл, значение, подтекст
exposeподвергать, показывать
embraceвключать, заключать в себе, охватывать
resilienceстойкость, жизнеспособность
robustкрепкий, сильный, устойчивый
shiftменять, изменять, перемещать
PREPOSITIONS
  1. a reduction in
  2. central to
  3. implication for 
  4. reaction to 
  5. expose to
  6. shelter from
  7. at any rate
  8. revert to
  9. exemplify by
  10. response to 
  11. at a pace
  12. critical for
  13. credit with 
  14. accuse of
  15. at the level
WORDS FOR REPORT
minor fluctuations
minority
increase __% percentage points
increase dramatically 
go up substantially
at a historic high of __ %
skyrocket
peak at __% in 20….
the same pattern holds true
factor driving attitude
GRAMMAR PATTERNS

Globalization survived Brexit and Donald Trump, and it appeared to be thriving even after the COVID-19 pandemic.

Given the potential costs of this shift, it is worth retracing how we got here.

Following the end of the Cold War, globalization brought about a drastic reduction in extreme poverty, not least by enabling East Asian countries, including China, to achieve rapid growth and development.

Most shortages proved to be short-lived

So, the economic “mutual assured destruction” that was supposed to deter deglobalization has apparently reached its limits.

Now, countries are seeking to build resilience by turning inward, embracing industrial policies for sectors that are viewed as critical for national security, such as semiconductors and energy.

So, despite an unprecedented public-health shock, the global economy kept going

The more interconnected countries are, the easier it is for disease to spread among them.

TEST