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The world is going through the biggest wave of mergers and acquisitions ever witnessed. The process sweeps from hyperactive Amer

admin2022-06-29  91
问题     The world is going through the biggest wave of mergers and acquisitions ever witnessed. The process sweeps from hyperactive America to Europe and reaches the emerging countries with unsurpassed might. Many in these countries are looking at this process and worrying: "Won’t the wave of business concentration turn into an uncontrollable anti-competitive force?"
    There’s no question that the big are getting bigger and more powerful. Multinational corporations accounted for less than 20％ of international trade in 1982. Today the figure is more than 25％ and growing rapidly. International affiliates account for a fast-growing segment of production in economies that open up and welcome foreign investment. In Argentina, for instance, after the reforms of the early 1990s, multinationals went from 43％ to almost 70％ of the industrial production of the 200 largest firms. This phenomenon has created serious concerns over the role of smaller economic firms, of national businessmen and over the ultimate stability of the world economy.
    I believe that the most important forces behind the massive M&A wave are the same that underlie the globalization process: falling transportation and communication costs, lower trade and investment barriers and enlarged markets that require enlarged operations capable of meeting customer’s demands. All these are beneficial, not detrimental, to consumers. As productivity grows, the world’s wealth increases.
    Examples of benefits or costs of the current concentration wave are scanty. Yet it is hard to imagine that the merger of a few oil firms today could recreate the same threats to competition that were feared nearly a century ago in the U.S., when the Standard Oil trust was broken up. The mergers of telecom companies, such as WorldCom, hardly seem to bring higher prices for consumers or a reduction in the pace of technical progress. On the contrary, the price of communications is coming down fast. In cars, too, concentration is increasing—witness Daimler and Chrysler, Renault and Nissan—but it does not appear that consumers are being hurt.
    Yet the fact remains that the merger movement must be watched. A few weeks ago, Some experts warned against the megamergers in the banking industry. Who is going to supervise, regulate and operate as lender of last resort with the gigantic banks that are being created? Won’t multinationals shift production from one place to another when a nation gets too strict about infringements to fair competition? And should one country take upon itself the role of "defending competition" on issues that affect many other nations?
The purpose of the example of megamergers in the banking industry is to________.
选项 A、show that they bring benefits to the banking industry
B、show that they will harm the interests of borrowers
C、prove that they have harmed the fair competition
D、prove that they should be closely monitored
答案D
解析 根据题干中的megamergers in the banking industry知定位到最后一段。本题问的是引用银行业中巨大合并的例子的目的是什么。本题属于篇章结构题的范畴，作者引用例子的目的一般是为了说明前文中的观点。在本段第一句，作者指出合并运动必须受到严密监视。然后在本段接下来的部分，作者举了几个例子一银行业的巨大合并引发的监管问题，跨国公司面临严厉处罚时转移生产地的问题，在涉及多国的事件中，一个国家是否能担负起“捍卫竞争”的责任的问题——来说明严密监视合并运动的必要性。所以，选项D符合写作思维，是正确选项。其他选项都曲解文意，为错误选项。第五段：企业并购也会产生一些不利因素，人们应该关注这些不利因素。
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