Choose the one word or phrase that best completes the sentence and fill in the appropriate answer above.
1-
Multilateral trade agreements serve the interests of today's global production system in a way that the alternative — a ......... system of bilateral agreements — does not.
A -
factional
B -
fractional
C -
fragmentary
D -
fragmented
2-
Victor K. Fung gives his point of view as a businessman on what is at stake and why WTO negotiators have an interest in finding common ..........
A -
ground
B -
law
C -
sense
D -
wealth
3-
Global rules ......... global production.
A -
all
B -
ease
C -
stress
D -
through
4-
In the old days, manufacturing would be done "in-house", but manufacturing carries a completely different meaning today: products are no longer made ..........
A -
all at once
B -
in one basket
C -
under one roof
D -
within the pale
5-
Increasingly, production is ......... across different factories in different countries — it is becoming globalized.
A -
disbursed
B -
discharged
C -
dismembered
D -
dispersed
6-
Information technology and logistics help dissect the value-added process into ......... parts, with factories, locations and countries assigned for each stage according to their competitive advantage.
A -
complementary
B -
component
C -
composite
D -
connective
7-
Over the past several years, we have seen ......... in Seattle and Cancn, with what appears to be a widening divergence of views between developed and developing countries, and a rise in bilateral trade agreements.
A -
coercion
B -
concord
C -
discord
D -
dismay
8-
Bilateralism distorts the flow of goods: it ......... barriers, creates friction, reduces flexibility, raises prices and hinders companies' ability to bring new countries into the global production system.
A -
bowls over
B -
breaks down
C -
stands on
D -
throws up
9-
Of particular concern are 'rules of origin', which define where a product is made and determine what kind of market ......... it will have.
A -
access
B -
activity
C -
life
D -
share
10-
With each new bilateral agreement, considerations relating to rules of origin multiply and become more complex in the ......... trade experts call 'the spaghetti bowl effect'.