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
2024-10-04
7
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/3786388.html
相关试题推荐
Withinthatexclusivegroupofliterarycharacterswhohavesurvivedthrough
Withinthatexclusivegroupofliterarycharacterswhohavesurvivedthrough
Withinthatexclusivegroupofliterarycharacterswhohavesurvivedthrough
Yourwordsmaybecompletely______whenitispassedonthroughdifferentmonths.
______thatthepilotcouldn’tflythroughit.A、ThestormsoseverewasB、Sowas
Oneday,apoorboywhowastryingtopayhiswaythroughschoolbysellin
We’ll______youthroughthickandthin.A、standforB、standbyC、standagainstD、
Iwalkeddownthecorridor,myfootsteps______frighteninglythroughtheemptyde
Assoonasheopenedthedoor,a______ofcoldairsweptthroughthehouse.A、flow
Themangetstipsforlocalrestaurantsthrough[br][originaltext]M:Sincewe
随机试题
Thereisnodoubt______Herbertisthemostindustriousstudentinourclass.A、w
[originaltext]W:Howoftendothebusesrun?M:Everyhalfhouronweekdays,bu
MoneyinAmericaMoneyisusedtobuygoodsorservicesa
[originaltext]M:Amy,whatwasyourfirstjob?W:Well,whenIgraduatedfromt
艺术鉴赏过程的第一阶段是()A.体验与想象 B.理解与创造 C.直觉与感知
脑震荡临床表现不包括A.意识障碍期肌腱反射消失.皮肤苍白.血压下降 B.
对机体各脏腑组织起推动、温煦作用的是A.肾阴 B.天癸 C.肾阳 D.肾精
从所给的四个选项中,选择最合适的一个填入问号处,使之呈现一定的规律性:
实际的集体谈判结果确定在效率合约曲线的哪一点,取决于()。A.雇主的受益点
下列哪种药物与呋塞米合用可增强其耳毒性A.四环素 B.红霉素 C.链霉素
最新回复
(
0
)