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Business English Exercises
 

The Growth of Business in Asia

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Home > Teaching Business English > Business English Lessons, Advanced Level # 327
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The rapid growth in manufacturing and trade in Asia has lead to the rise of domestic companies with sizeable Asia Pacific operations in addition to sales in Europe and the US.

Correct answer: (d) sizeable

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Many larger Asian companies, namely Chinese, Indian, Japanese, Korean and Taiwanese conglomerates, have become global household names.

Correct answer: (c) household

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On the other hand, there has also been a surge in foreign direct investment in Asia from European and US multinational companies, as they partner in joint-venture arrangements with Asian firms to access local markets.

Correct answer: (c) partner

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India's R&D industry continues to expand exponentially, confirming India's dominance in the software, technology and business process outsourcing (BPO) arena and expects to control 51% of the global outsourcing market for software and back-office services by 2008.

Correct answer: (c) exponentially

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Meanwhile, China pales in comparison with only 4.9% of the outsourcing market.

Correct answer: (c) pales

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The intricacies of China's regulations drive many foreign businesses to base their regional treasuries in Singapore or Hong Kong, while Malaysia and China are looking to attract companies to set up onshore SSCs.

Correct answer: (b) intricacies

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Interaction with local banks in Asia is unavoidable, but some local banks are not able to send Swift messages such as the MT940 or the MT942 and this can make it difficult to obtain good visibility of cash flows and account balances.

Correct answer: (d) visibility

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However, this is becoming increasingly rare as local Asian banks are rapidly adopting foreign bank standards; especially, with foreign banks buying into local banks, the transfer of technology is homogenizing standards, albeit within each country.

Correct answer: (b) homogenizing

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Meanwhile, global banks are aggressively staking their claim in the Asian financial markets; they are lobbying for central banks to introduce standardised regulations.

Correct answer: (c) staking

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According to Clinton Lee, regional advisor and director at ABN AMRO's Transaction Banking, a common denominator among most Asian countries is their absorption rate of newer technologies to accelerate the pace of organisational change.

Correct answer: (a) denominator

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Business English Practice Exercises Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
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