首页
登录
职称英语
The world is going through the biggest wave of mergers and acquisitions ever
The world is going through the biggest wave of mergers and acquisitions ever
游客
2023-11-09
49
管理
问题
The world is going through the biggest wave of mergers and acquisitions ever witnessed. The process sweeps from hyperactive America to Europe and reaches the emerging countries with unsurpassed might. Many in these countries are looking at this process and worrying: "Won’t the wave of business concentration turn into an uncontrollable anti-competitive force?"
There’s no question that the big are getting bigger and more powerful. Multinational corporations accounted for less than 20% of international trade in 1982. Today the figure is more than 25% and growing rapidly. International affiliates account for a fast-growing segment of production in economies that open up and welcome foreign investment. In Argentina, for instance, after the reforms of the early 1990s, multinationals went from 43% to almost 70% of the industrial production of the 200 largest firms. This phenomenon has created serious concerns over the role of smaller economic firms, of national businessmen and over the ultimate stability of the world economy.
I believe that the most important forces behind the massive M&A wave are the same that underlie the globalization process: falling transportation and communication costs, lower trade and investment barriers and enlarged markets that require enlarged operations capable of meeting customers’ demands. All these are beneficial, not detrimental, to consumers. As productivity grows, the world’s wealth increases.
Examples of benefits or costs of the current concentration wave are scanty. Yet it is hard to imagine that the merger of a few oil firms today could re-create the same threats to competition that were feared nearly a century ago in the U.S., when the Standard Oil Trust was broken up. The mergers of telecom companies, such as WorldCom, hardly seem to bring higher prices for consumers or a reduction in the pace of technical progress. On the contrary, the price of communications is coming down fast. In cars, too, concentration is increasing—witness Daimler and Chrysler, Renault and Nissan—but it does not appear that consumers are being hurt.
Yet the fact remains that the merger movement must be watched. A few weeks ago, Alan Greenspan warned against the megamergers in the banking industry. Who is going to supervise, regulate and operate as lender of last resort with the gigantic banks that are being created? Won’t multinationals shift production from one place to another when a nation gets too strict about infringements to fair competition? And should one country take upon itself the role of "defending competition" on issues that affect many other nations, as in the U.S. vs. Microsoft case? [br] The forces behind the wave of mergers and acquisitions will result in
选项
A、enhanced markets.
B、lower trade cost.
C、the undermined of globalization.
D、advantages to customers.
答案
D
解析
第3段第2句开头的All these指的是该段第1句的forces,可见,第2句表明这些forces对消费者是有利的,因此,本题应选D。A和B是第1句冒号后的内容,在原文中,冒号后列举了各种forces,可见,A和B是forces本身,而非forces带来的结果。C中的undermine与原文中的underlie意思完全不同。
转载请注明原文地址:https://tihaiku.com/zcyy/3171824.html
相关试题推荐
Anyacademicbreakthrough,______,doesnotautomaticallyensurethatitcanbe
InhisplaysShakespeare______hischaracterslivethroughtheirlanguage.[200
Theworldisgoingthroughthebiggestwaveofmergersandacquisitionsever
Theworldisgoingthroughthebiggestwaveofmergersandacquisitionsever
Thetrainclatteredoverpointsandpassedthroughastation.Thenitbe
Thetrainclatteredoverpointsandpassedthroughastation.Thenitbe
Thetrainclatteredoverpointsandpassedthroughastation.Thenitbe
Ihadneitheraraincoatnoranumbrella.______Igotwetthrough.A、It’stherea
Throughouttheyears,musichasbeenacommonthreadthatunitesgenerations
Throughouttheyears,musichasbeenacommonthreadthatunitesgenerations
随机试题
[originaltext]W:Goodmorning,Sam.M:Goodmorning,Mary,howareyou?W:Well
SomepeoplehavedrawntheconclusionfromBowlby’sworkthatchildrenshou
某市越江隧道工程全部由政府投资。该项目为该市建设规划的重要项目之一,且已列入地方
按照《证券投资业务暂行规定》,证券公司、证券投资咨询机构从事证券投资顾问业务,应
申请证券上市交易,应当向( )提出申请,由( )依法审核同意,并由双方签订上
马拉松组委会在赛道中设置18个水站,将赛道平均分为19段。送水车下午14:00从
企业员工的总流动率可以采用( )公式进行计算。A.员工总流动率=某一时期内员工
某市商业银行2010年通过实现抵押权取得某大楼的所有权,2013年卖出该楼获利颇
抗结核药具有肝药酶诱导作用的是A.异烟肼 B.链霉素 C.吡嗪酰胺 D.对
(2018年真题)()是指通过对反映就业、失业状况的监测指定跟踪分析,当监测指
最新回复
(
0
)