Unlocking Word Meanings
Read the following words/expressions found in today’s article.
1. manufacturer (n.) – a person or a company that uses machines to make large amounts of goods or products
Read the following words/expressions found in today’s article.
1. manufacturer (n.) – a person or a company that uses machines to make large amounts of goods or products
Example: Honda is one of the
world’s largest automobile manufacturers.
2. executive (n.)
– someone whose job is to run the company or to manage and direct other people
in the company
Example: The executives are in charge of deciding the
company’s goals and long-term plans.
3. plant (n.)
– a factory or a building where goods are produced
Example: The class toured an
auto plant to see how cars are made.
4. de facto (adj.)
–existing in fact or reality but not officially accepted
Example: He is the de facto group leader, even though other
group members do not recognize him as their leader.
5. recession (n.)
– a period in which economy is down, and many people do not have jobs
Example: Jobs are hard to find
during a recession, as many
businesses stop hiring to save money.
Article
Read the text below.
A survey says many large
US-based manufacturers are open to
the idea of moving production back to the US.
The Boston
Consulting Group (BCG) surveyed 106 US-based manufacturing executives and found that 48% of
companies with over 10 billion USD in earnings are considering “re-shoring” or moving
operations back to their home country.
With wages in China
now rising, the country is losing its low-cost advantage. The US, on the
other hand, is considered by some companies to be a de facto low-cost country, because of its high unemployment rate.
US wages are also
usually lower than the wages in Western Europe and Japan. As a result, even European
and Japanese companies are likely to export from US plants.
Two million US
manufacturing jobs were lost during the 2007-2009 recession. BCG thinks that if the cost of manufacturing in the U.S.
becomes equal or lower than in other countries, up to 3 million manufacturing
jobs could be created in the U.S. by 2020.
But if the value of
the US dollar suddenly rises, then “re-shoring” might slow down. Others say
investments in plants overseas are still growing and that re-shoring is not common.
Furthermore, there
is still a big lack of skilled people in the US who can do manufacturing jobs.
Manufacturing executives say emphasizing science, technology, engineering and
math in schools might solve the problem.
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Viewpoint Discussion
Enjoy a discussion with your tutor.
Discussion A
·
What advantages
does a company have if it manufactures products in its home country?
·
What do you think about products made in your
country compared to products made from other countries?
Discussion B
·
What subjects do schools emphasize or treat as
important in your country? (e.g. math, science, etc.) Why are these subjects important
to learn?
·
Will focusing on these subjects help people get
the most in demand or needed jobs in your country? Please explain your answer.