F2F Class Notes (Nick)

Write about protectionism and its effect upon South Korea.

Vocabulary

Monopsony – when there is only one buyer for something
Monopoly – when there is only one seller for something

To turn something around – to take a bad situation and make it good
e.g. We’re developing a strategy to turn around our bad performance in the Chinese market.
Repositioning – to put yourself in a new place in the market
e.g. We’re trying to move out the high-end market, and into a more middle-income area.
Rebranding – changing the way that buyers view your brand
e.g. Buick was an uncool brand, so maybe ten years ago they had to rebrand so that people would take a second look.

Expat – people who move out of their country and live in another (short for: expatriate, person outside of your country)
e.g. Ernest Hemingway was a famous expatriate American writer.

All-purpose – something that can be used for many different things
e.g. This is an all-purpose cleaner, which can clean tile, glass, wood, and yoga mats.
e.g. Korean workers see themselves as “all-purpose” employees. They do whatever is needed.

Passed – when a proposed law is accepted by the law-making part of government
e.g. The South Korean government recently passed a law on overtime pay.

Headquarters – the head office of a company
e.g. I went back to headquarters to help design new strategy.

Stall – to stop running or stop growing; full stop, and must be restarted
e.g. The economy is stalled, and companies are suffering.
e.g. My engine stalled because it ran out of gas.
Freeze – to stop something temporarily, or for a computer to stop working temporarily
e.g. I lost my credit card, so I had to freeze my bank account.
e.g. My computer froze and I lost the work I was doing on that paper!

Isolationism – wanting to separate your country from others
Protectionism – using economic policy to separate your country from others

Grammar

They reject to do it – they reject doing it

Very similar as – very similar to
BUT, “the same as”

Some of my colleague – colleagues

It’s getting the worst – it’s now the worst it has ever been / it’s getting worse

It looks like Japanese ten years ago – It looks like Japan / the situation in Japan ten years ago