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III. Sentence Paraphrase 1 At the edge of a new century, globalization is a double-edged sword: a powerful vehicle that raises economic growth, spreads new technology and increases living standards in rich and poor countries alike, but also an immensely controversial process that assaults national sovereignty; erodes local culture and tradition and threatens economic and social instability. (Para. 1) to wear away; to reduce gradually to attack Back to 1 III. Sentence Paraphrase 2 A daunting question of the 21st century is whether nations will control this great upheaval or whether it will come to control them. (Para. 2) a great change, esp. causing or involving much difficulty, activity or trouble intimidating; disheartening go to 3 III. Sentence Paraphrase 3 In some respects, globalization is merely a trendy word for an old process. (Para. 3) To some extent, globalization is not new. The world has always been in the process of market expansion, which is referred to as “globalization”— a fashionable term used only recently. of the latest fad or fashion go to 4 III. Sentence Paraphrase 4 Europeans saw economic unification as an antidote to deadly nationalism. (Para. 5) a way of preventing or acting against sth. bad Europeans regarded economic unification as a way to prevent nationalism. go to 5 III. Sentence Paraphrase 5 A decade later, even after Asias 1997— 1998 financial crisis, private capital flows dwarf governmental flows. (Para. 8) movement in one direction, esp. continuously and easily Ten years later, even after Asias financial crisis of 1997 — 1998, private capital flows are still greater in number than governmental capital flows. to make sth. seem small by comparison go to 6 III. Sentence Paraphrase 6 The recent takeover struggle between British and German wireless giants is exceptional only for its size and bitterness. (Para. 10) a large company The only difference between the recent takeover struggle between British
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