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• Sergio Andres Cortes Contreras

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BUSINESS ENGLISH I GUIDE 1

STEP 1 Reading:

the U.S. Dollar

Russia's Foreign Minister Sergei Lavrov has suggested that the U.S. dollar could be losing its status as the world's most important currency. Mr Lavrov said that because the U.S. has imposed economic sanctions on countries like Iran, Turkey and Russia, these countries could start conducting international business in their own national currencies instead of the dollar. In addition, countries that have had trade tariffs imposed on them by the U.S. could also do trade in their own currencies. This could include the global economic superpower China ditching the dollar. China is already setting up trade deals in its own currency. Experts say the U.S. dollar could lose its position as the international reserve currency. The U.S. dollar replaced the British pound as the international reserve currency in the 1920s. Since then, most international trade has taken place using the dollar. Today, when China buys oil from Iran, it pays in U.S. dollars. This means more U.S. dollars flow out of the U.S. than flow in. The effect of this is the U.S. has a currency deficit as its dollars are in the bank accounts of other countries. Mr Lavrov said: "I'm confident that the grave abuse of the role of the U.S. dollar as a global reserve currency will result over time in the weakening and demise of its role." China's currency the yuan is emerging as an alternative trading currency. Africa's most populous nation Nigeria has already started trading using the yuan. 1. Exercises Reading Comprehension analysis a. TRUE / FALSE 1. Russia said the dollar has lost its status as the global language. T / F 2. Russia, Turkey and Iran may start trading using their own currencies. T / F 3. Countries the US has imposed tariffs on could abandon the dollar. T / F 4. China is already using its own currency to trade. T / F 5. The dollar became the international reserve currency in the 1940s. T / F 6. If China buys oil from Iran, it pays in U.S. dollars. T / F 7. The USA has a currency surplus. T / F 8. Nigeria is continuing to do trade using the U.S. dollar. T / F b. SYNONYM MATCH: Match the following synonyms from the article. 1. Suggested 2. status 3. imposed 4. conducting 5. experts 6. replaced 7. effect 8. deficit 9. grave 10. alternative

a. serious b. doing c. specialists d. standing e. consequence f. shortfall g. indicated h. substitute i. applied j. took over from

c. Choose the correct answer 1. Sergei Lavrov has suggested that the U.S. dollar could be ______ a. lose in its status b. loose in its status c. lost in its status d. losing its status 2. Mr Lavrov said that because the U.S. has imposed economic ______ countries a. sanctions on b. suctions on c. sank shuns on d. sank shines on 3. conducting international business in their own national currencies ______ dollar a. instead off the b. instead at the c. instead of the d. instead as the 4. This could include the global economic superpower China ______ a. stitching the dollar b. hitching the dollar c. pitching the dollar d. ditching the dollar 5. Experts say the U.S. dollar could lose its position as the international ______ a. reserves currency b. preserved currency c. reserve currency d. preserve currency

6. Since then, most international trade has taken ______ dollar a. plaice using the b. place using the c. please using the d. plaid using the 7. This means more U.S. dollars flow out of the U.S. ______ a. that flow in b. than flows in c. than flow in d. then flew in 8. the U.S. has a currency deficit as its dollars are in the bank ______ countries a. account of other b. accounts of another c. accounts of others d. accounts of other 9. Mr Lavrov said: "I'm confident that the grave abuse of the ______ U.S. dollar..." a. roll of the b. role of the c. role off the d. role of a 10. Africa's most populous nation Nigeria has already started ______ yuan a. trade in using the b. trading use in the c. trading in using the d. trading using the

d. Comprehension questions 1.

What is the name of Russia's foreign minister? ____________________________________________

2.

What did the USA impose on Turkey, Iran and Russia? ____________________________________________

3.

What could countries like Turkey and Iran use instead of the dollar? ____________________________________________

4.

What could the economic superpower China do to the dollar? ____________________________________________

5.

Who said the dollar could lose its position as the reserve currency? ____________________________________________

6.

What was the international reserve currency before the dollar? ____________________________________________

7.

What might China buy from Iran and pay for in dollars? ____________________________________________

8.

What does the USA have because so many dollars flow out of the US?

____________________________________________ 9.

What did the article say is emerging as an alternative trading currency? ____________________________________________

10. Which country has already started trading in China's currency? ____________________________________________ e. Organize the words to give sense to the idea 1. the world's most important ucrerycn __________________________________________________ 2. imposed economic tcnonssia on countries_______________________________________________ 3. gundionctc international business_______________________________________________________ 4. trade fatsfir _____________________________________________________________ 5. China hidcigtn the dollar__________________________________________________ 6. the international veresre__________________________________________________ 7. The fftcee of this_________________________________________________________ 8. the grave busea of the role_________________________________________________ 9. dsmeei of its role_________________________________________________________ 10. the yuan is eeimngrg_____________________________________________________ 11. as an leernittvaa ______________________________________________________ 12. Africa's most uuolspop nation _____________________________________________ STEP 2: Phrasal verbs in Business English Choose the correct option 1. We ________________up with a new structure. = We developed/created a new structure. a. came b. brought c. gave 2. We have to ________________ out ( = develop) a better way to communicate with our customers. a. figure b. come c. giv 3. They cut ________________ ( = eliminated) the middleman and started providing this service themselves. a. off b. up c. out 4. Tom found a way to ____________________( = bypass/eliminate) this problem. a. get down b. get around c. get up 5. Please ______________________on. = Please continue. a. give b. get c. go

6. We need to ______________( = examine/review) these reports before 3:00 PM. a. go through b. get around c. give off 7. We need to ___________ ( = schedule/arrange) an interview for Friday. a. set up b. take off c. save up 8. The meeting has been ____________________ off ( = cancelled). a. made b. talked c. called 9. The president has called ________________ ( = requested) sweeping changes in the way we do business. a. up b. for c. around 10. I knew they'd _________________to our way of thinking. = I knew that they would eventually accept our way of thinking. a. get up b. come around c. feel out

STEP 3:Technical Vocabulary: https://quizlet.com/24952172/company-structure-flash-cards/ (audio of technical vocabulary, second part) Company Structure

1. Accounts Dept. department responsible for administering a company's financial affairs 2. A.G.M. Annual General Meeting of a company's shareholders 3. board of directors group of people chosen to establish policy for and control a company 4. chairman person who heads a Board of Directors; head of a company; chairperson 5. director a member of the board of directors 6. executive officer person managing the affairs of a corporation 7. headquarters a company's principal or main office or centre of control 8. manager person responsible for day-to-day running of a dept.; executive officer 9. managing director senior director after the chairman responsible for day-to-day direction 10. Marketing Dept. department that puts goods on market, inc. packaging, advertising, etc. 11. organization chart a table or plan showing a company's structure graphically 12. Personnel Dept. department responsible for recruitment and welfare of staff or employees 13. president the highest executive officer of a company; head of a company 14. Production Dept. department responsible physical creation of a product 15. Purchasing Dept. department responsible for finding and buying everything for a company 16. R & D Dept. department responsible for Research and Development of products 17. reception the place where visitors and clients report on arrival at a company 18. Sales department department responsible for finding customers and making sales 19. shareholder person who holds or owns shares in or part of a company or corporation 20. vice president any of several executive officers, each responsible for a separate division

Elaborated by Teacher: ZILIA SOFIA RUBIANO MORALES. Bibliography: https://www.englishclub.com/business-english/what.htm http://www.voanews.com/ www.agendaweb.org https://learnenglish.britishcouncil.org/en/english-grammar www.esl-lab.com