liberal studies

PUBLISHED : Thursday, 26 March, 2009, 12:00am
UPDATED : Thursday, 26 March, 2009, 12:00am
 

Reading comprehension

Answer the following questions

1 Who was against Coca-Cola's takeover of Huiyuan from the start?

a. Coca-Cola's CEO

b. Huiyuan's chairman

c. local mainland beverage makers

d. the Hong Kong government

2 What was the central government's official reason for blocking the takeover?

a. it didn't want a leading national company taken over by foreigners

b. local beverage companies wouldn't be able to compete

c. a US company can't buy a Chinese one

d. Huiyuan asked it to

3 Which government body made the decision to block the deal?

a. Foreign Ministry

b. National People's Congress

c. Environmental Protection Department

d. Ministry of Commerce

4 When did China introduce its anti-monopoly laws?

a. 2008

b. 1990s

c. March, 2009

d. 2007

Word power

Match the following words with their meanings below

1 private equity

2 protectionism

3 takeover

4 listed company

5 shares

6 nationalism

a. the purchase of one company by another

b. an investment in a non-listed company, usually exchanged for partial ownership of the company

c. a type of company whose shares are traded on a stock market, so that anyone can invest money in it; in exchange, the company must provide detailed reports of its business transactions

d. a unit of ownership in a company

e. love and pride for one's country

f. the policy of protecting local, home-grown companies from competition with international companies

Think about

1 How would the takeover have benefited both Coca-Cola and Huiyuan?

2 How does a monopoly harm consumers?

3 Do you believe the central government's reason for blocking the bid, that it violated anti-trust laws, or do you think there was more to it?

Answer on page 11 next Thursday

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