MONDAY

1. CURRENT ISSUES

2. STATISTICS

3. ANALYTICAL COMMENTARY

WEDNESDAY

4. THEORY

Implications of Regional Integration

5. ANALYTICS

Less Globalisation, More Multilateralism

VOCABULARY & GRAMMAR

KEY TERMS
competethe economic scenario in which enterprises put effort to be leaders in their industry and increase their market share
preferential treatmentany concession or privilege granted to the party
acquirecome into possession or ownership; obtain
counterbalancehave an equal but opposite effect on something in a positive way
emergebecome known or apparent
employmenta relationship between two parties regulating the provision of paid labour services
reductionthe act of making something smaller in size, amount, number
purchasing powerthe amount of goods and services that can be purchased with a unit of currency
availabilityeasily obtainable and ready for use
market expansiona growth strategy which involves offering your existing product/service to a new market
FOCUS WORDS
mitigateсмягчать, уменьшать
enhanceповышать, усиливать, увеличивать
disruptразрушать, срывать, подрывать, разрывать
restrictограничивать, держать в определённых пределах; сводить к 
scrutinyизучение, исследование, внимательный осмотр
diversifyразнообразить, варьировать
emergenceпоявление, возникновение
undermineподрывать, разрушать
erodeразрушать, разъедать, размывать
boostфорсировать, повышать, стимулировать, ускорять
PREPOSITIONS
  1. to some extent
  2. depend on 
  3. support for 
  4. rely on
  5. with regard to
  6. access to
  7. incentive for
  8. emphasis on 
  9. increase in
  10. strain on 
WORDS FOR REPORT
dissatisfaction with
hold the view 
substantial minorities/ large majorities 
In comparison, 
very different public moods across
not so downcast 
Similarly, 
key finding/ the major findings
significant change
long-running divisions 
GRAMMAR PATTERNS

The country is central to the manufacture of a wide range of common consumer products, including mobile phones, computers, and household goods.

Countries attempting to stockpile supplies of vital goods would also run into cost constraints.

Building a new multilateralism won’t be easy; it may even appear impossible.

Fortunately, China seems to have brought the coronavirus under control, and economic activity in the country is returning to normal, so the disruption has been limited.

Such a disruption could come in the form of another public-health crisis or a natural disaster.

Climate concerns and carbon border taxes could compound the problem, by spurring cycles of retaliation and intensifying strain on international trade.

It may not be too difficult for very large economies to cover the costs of diversifying their production.

With many companies and industries dependent on faraway suppliers – and lacking any alternatives – no part of such value chains can function unless all parts do.

One of the most powerful drivers of support for deglobalization is the vulnerability of production models that rely on long and complex global supply chains, which have sacrificed robustness and resilience at the altar of short-term efficiency and cost reduction.

Moreover, by entrenching a volatile long-term rivalry, it would pose a grave threat to peace.

Likewise, reducing trade and foreign investment in the name of national security may actually increase political tensions and, by spurring a cycle of reprisals, place economies on a downward spiral.

Similarly, protocols and financing for rapid vaccine development and production capacity should be agreed (and continually updated).

TEST