商務英語入門外教社修訂版市公開課一等獎省名師優(yōu)質課賽課一等獎課件

高等學校英語拓展系列教程主編：任書梅王璐副主編：曹穎外語教學與研究出版社Chapter10國際貿易InternationalTradeLectureOutlineWhatIsInternationalTrade?什么是國際貿易？ReasonsforInternationalTrade國際貿易原因BasicsofInternationalTrade國際貿易幾個基本概念InternationalTradeSettlement國際貿易結算RestrictionstoInternationalTrade國際貿易障礙Lead-inActivitiesChinabecametheworld’slargestexporterovertakingGermanyin.Myriadsofmade-in-Chinacommoditiessoldworldwidehavegreatlyimprovedthelivesofthelocalpeople.Lead-inActivities1.ThefollowingissomeofChina’sbest-knownbrandsofexportcommodities.PleaseidentifythebrandnamesinChineseandcompletethetable.2.WorkinpairstonamesomeotherChina’sbrandsofexportcommoditiesyouknow.3.WorkwithyourpartnertolistsomeforeignbrandsinChinesemarket.WhatIsInternationalTrade?Internationaltradeistheexchangeofgoodsandservicesbetweencountries.Tradinggloballygivesconsumersandcountriestheopportunitytobeexposedtogoodsandservicesnotavailableintheirowncountries.Differencebetweeninternationaltradeanddomestictrade—Internationaltradeistypicallymorecostlythandomestictrade.

WhatIsInternationalTrade?Differencebetweeninternationaltradeanddomestictrade—Factorsofproduction

suchascapitaland

labor

aretypicallymoremobilewithinacountrythanacrosscountries.Insteadofimportingafactorofproduction,acountrycanimportgoodsthatmakeintensiveuseofthatfactorofproductionandthusembodyit.

WhatIsInternationalTrade?—Howisinternationaltradesimilartoanddifferentfromdomestictrade?—WhatarethemainitemsChinaexportstotheU.S.andwhatdoesChinamainlyimportfromtheU.S.?QuestionsforDiscussionWhatIsInternationalTrade?ReasonsforInternationalTradeAbsoluteadvantageandcomparativeadvantagearetheprimaryreasonwhynationsengageininternationaltrade.—Acountryhasanabsoluteadvantageintheproductionofaproductwhenitismoreefficientthananyothercountryinproducingit.Thatis,acommoditywillbeproducedinthecountrywhereitcostsleastintermsofresources(capital,land,andlabor).AbsoluteAdvantageReasonsforInternationalTrade—Countriesshouldspecializeintheproductionofgoods,forwhichtheyhaveanabsoluteadvantageandthentradetheseforgoodsproducedbyothercountries.AbsoluteAdvantageReasonsforInternationalTrade—Ifnationsarewise,theyconcentratetheireffortsonthethingstheycandobestandrelyuponinternationaltradetomakeupforthedeficiencies.Inthiswaytheyareabletoimprovetheirstandardofliving.AbsoluteAdvantageReasonsforInternationalTrade—

Comparativeadvantage

referstotheabilityofacountrytoproduceaparticulargoodatalower

opportunitycost

overanothercountry.

ComparativeAdvantageReasonsforInternationalTrade—Opportunitycost

isthecostofanyactivitymeasuredintermsofthevalueofthenextbestalternativewhichisnotchosen.—

Examples:Ifagardenerdecidestogrowcarrots,hisorheropportunitycostisthealternativecropthatmighthavebeengrowninstead(potatoes,tomatoes,pumpkins,etc.).

ComparativeAdvantageReasonsforInternationalTrade—Thebasicideaoftheprincipleofcomparativeadvantageisthataslongastherelativeopportunitycostsofproducinggoods(whatmustbegivenupinproducingonegoodinordertoproduceanothergood)differamongcountries,thentherearepotentialgainsfromtrade.ComparativeAdvantageReasonsforInternationalTradeComparativeAdvantageReasonsforInternationalTrade—

Howdoyoudistinguishbetweenabsoluteadvantageandcomparativeadvantage?—

Ofthetwoprinciplesjustdiscussed,absoluteadvantageandcomparativeadvantage,onwhichdoyouthinkChinareliesmostheavily?Why?QuestionsforDiscussionReasonsforInternationalTrade—Animportisanygoodorservicebroughtinfromonecountrytoanothercountryinalegitimatefashion.—Anexportreferstosellinggoodsandservicesproducedinthehomecountrytoothermarkets.

ImportandExportBasicsofInternationalTrade—FixedExchangeRateAcurrency’svalueisfixedagainstamajorworldcurrency(usuallytheU.S.dollar),ortoanothermeasureofvalue,suchasgold.Inordertomaintainthelocalexchangerate,thecentralbankbuysandsellsitsowncurrencyontheforeignexchangemarketinreturnforthecurrencytowhichitispegged,andfixedexchangerateissometimescalledapeggedexchangerate.ExchangeRateSystemBasicsofInternationalTrade—FixedExchangeRateOnewaytomaintainafixedexchangerateistomanipulatethemarketthroughtheuseofofficialreserves.Suchmanipulationsarecalledcurrencyinterventions.

ExchangeRateSystemBasicsofInternationalTrade—FixedExchangeRateTomaintainfixedexchangerates,thegovernmentmustchooseanexchangerateandhavesufficientofficialreservestosupportthatrate.

ExchangeRateSystemBasicsofInternationalTrade—FixedExchangeRateAdvantages:1.Firmsknowwhatexchangerateswillbe,makingtradeeasier.2.Afixedexchangerateisusuallyusedtostabilizethevalueofacurrency,whichmakestradeandinvestmentsbetweenthetwocountrieseasierandmorepredictable.ExchangeRateSystemBasicsofInternationalTrade—FlexibleExchangeRateThegovernmentdoesnotenterintoforeign,exchangemarketsatallbutleavesthedeterminationofexchangeratestotallyuptocurrencytraders.Thepriceofitscurrencyisallowedtoriseandfallasmarketforcesdictate.ExchangeRateSystemBasicsofInternationalTrade—FlexibleExchangeRateAflexibleexchangerateisoftentermed“self-correcting,”asanydifferencesinsupplyanddemandwillautomaticallybecorrectedinthemarket.ExchangeRateSystemBasicsofInternationalTrade—FlexibleExchangeRateIfdemandforacurrencyislow,itsvaluewilldecrease,thusmakingimportedgoodsmoreexpensiveandstimulatingdemandforlocalgoodsandservices.Thiswillleadtoanincreaseinthecurrencydemand,causinganauto-correctioninthemarket.ExchangeRateSystemBasicsofInternationalTrade—FlexibleExchangeRateInthefloatingexchangeratesystem,asthereservesarenotusedtocontrolthevalueofthecurrency,itisnotnecessarytokeephighlevelsofreserves(likegold)offoreigncountries.ExchangeRateSystemBasicsofInternationalTrade—FlexibleExchangeRateDisadvantages:1.Therisksanduncertaintiesassociatedwithflexibleexchangeratesmaydiscouragetheflowoftrade.2.Flexibleexchangeratesmaydestabilizethedomesticeconomybecausewidefluctuationsstimulateandthendepressindustriesproducingexportedgoods.ExchangeRateSystemBasicsofInternationalTrade—Anation’sbalanceofpayments(BOP)isthesumofallthetransactionsthattakeplacebetweenitsresidentsandtheresidentsofallforeignnations.TheBalanceofPaymentsBasicsofInternationalTrade—Thosetransactionsincludeexportsandimportsofgoods,exportsandimportofservices,touristexpenditures,interestanddividendsreceivedorpaidabroad,andpurchasesandsalesoffinancialorrealassetsabroad.TheBalanceofPaymentsBasicsofInternationalTrade—Alltransactionsarerecordedwhethertheyderivefromtradeingoodsandservicesortransferofcapital.—AsingleBOPaccountisdividedintothreecomponents:thecurrentaccount,thecapitalaccount,andtheofficialreservesaccount.TheBalanceofPaymentsBasicsofInternationalTrade—ThethreecomponentsoftheBOPmusttogetherequalzerowithnooverallsurplusordeficit.—Imbalancesarepossibleonthecurrentaccount,thecapitalaccountorthesumofthetwo.—Imbalancescanresultinsurpluscountriesaccumulatingwealth,whiledeficitnationsbecomeincreasinglyindebted.TheBalanceofPaymentsBasicsofInternationalTrade—Acountry’sBOPissaidtobeinsurplusbyacertainamountifsourcesoffunds(suchasexportsorthereceiptsofloansandinvestments)exceedusesoffunds(suchasimportsortoinvestinforeigncountries)bythatamount.ThereissaidtobeaBOPdeficitiftheformerarelessthanthelatter.TheBalanceofPaymentsBasicsofInternationalTrade—Ifacountryisimportingmorethanitexports,itstradebalancewillbeindeficit,buttheshortfallwillhavetobecounterbalancedinotherways,suchasbyfundsearnedfromitsforeigninvestments,byreceivingloansfromothercountriesorbyrunningdowncentralbankreserves.TheBalanceofPaymentsBasicsofInternationalTrade—CurrentAccountThecurrentaccount

referstothenetflowofcurrenttransactions,includinggoods,services,andinterestpayments,betweencountries.BasicsofInternationalTradeTheBalanceofPayments—CurrentAccountVisibles:arecordofallreceiptsfromabroadfromtheexportofgoodsandallexpendituresabroadontheimportofgoods.Whenthesearecompared,thisisknownasthe‘balanceofvisibletrade.’BasicsofInternationalTradeTheBalanceofPayments—CurrentAccountInvisibles:arecordofallreceiptsfromabroadinreturnforservicesrenderedandallexpenditureabroadforforeignservices.BasicsofInternationalTradeTheBalanceofPayments—CapitalAccountThecapitalaccount

reflectsnetchangeinnationalownershipofassets.Itrecordsalltransactionsarisingfromcapitalmovementsintoandoutofthecountry.BasicsofInternationalTradeTheBalanceofPayments—CapitalAccountForexample,aforeignfirmmaybuyarealasset,say,anofficebuildingintheUnitedStates,orafinancialasset,forinstance,aU.S.governmentsecurity.Bothkindsoftransactioninvolvethe“export”oftheownershipofU.S.assetsfromtheUnitedStatesinreturnforinpaymentsofforeigncurrency.BasicsofInternationalTradeTheBalanceofPayments—CapitalAccountAsurplusinthecapitalaccountmeansmoneyisflowingintothecountry(suchasthereceiptsofloansandforeigninvestmentsinChina).Adeficitinthecapitalaccountmeansmoneyisflowingoutthecountry(suchaspurchaseassetsandinvestinforeigncountries).BasicsofInternationalTradeTheBalanceofPayments—OfficialReservesAccountThecentralbanksholdquantitiesofforeigncurrenciescalledofficialreserves.Thesereservescanbedrawnontomakeupanynetdeficitinthecombinedcurrentandcapitalaccountmuchasyouwoulddrawonyoursavingstopayforaspecialpurchase.BasicsofInternationalTradeTheBalanceofPayments—OfficialReservesAccountInsomeyears,thecurrentandcapitalaccountsbalancesarepositive,meaningthatacountryearnsmoreforeigncurrenciesthanitneeds.BasicsofInternationalTradeTheBalanceofPayments—Whyistheflexibleexchangerateoftentermedself-correcting?—

IsChinaasurplusordeficitcountrynowadays?DoesChinabenefitorsufferfromitsbalanceofpayments?QuestionsforDiscussionBasicsofInternationalTrade—Neitherpartywhoengagesininternationaltradecompletelytruststheother. —Unlessthereissomewayofestablishingtrustbetweentheparties,thetransactionmightneveroccur.

LackofTrustInternationalTradeSettlement—Aletterofcredit,abbreviatedasL/C,standsatthecenterofinternationalcommercialtransactions.Issuedbyabankattherequestofanimporter,theletterofcreditstatesthatthebankwillpayaspecifiedsumofmoneytoabeneficiary,normallytheexporter,onpresentationofparticular,specifieddocuments.LetterofCreditInternationalTradeSettlementLetterofCreditInternationalTradeSettlement—Advantages:Boththeimporterandtheexporterarelikelytotrustreputablebanks,eveniftheydonottrusteachother.Oncetheexporterhasseenaletterofcredit,heknowsthatheisguaranteedpaymentandwillshipthemerchandise.

LetterofCreditInternationalTradeSettlement—Advantages:Anexporter

mayfindthathavingaletterofcreditwillfacilitateobtainingpre-exportfinancing.Havingseentheletterofcredit,thebankmightbewillingtolendtheexporterfundstoprocessandpreparethemerchandise.Thisloanmaynothavetoberepaiduntiltheexporterhasreceivedhispaymentforthemerchandise.

LetterofCreditInternationalTradeSettlement—Advantages:Asfortheimporter,shedoesnothavetopayforthemerchandiseuntilthedocumentshavearrivedandunlessallconditionsstatedintheletterofcredithavebeensatisfied.LetterofCreditInternationalTradeSettlement—Drawback:Fortheimporter,shemustpaythefeefortheletterofcredit.Inaddition,sincetheletterofcreditisafinancialliabilityagainsther,itmayreduceherabilitytoborrowfundsforotherpurposes.DraftInternationalTradeSettlement—Adraft,sometimesreferredtoasabillofexchange,istheinstrumentnormallyusedininternationalcommercetoeffectpayment.Adraftissimplyanorderwrittenbyanexporterinstructinganimporter,oranimporter’sagent,topayaspecifiedamountofmoneyataspecifiedtime.DraftInternationalTradeSettlement—Thepersonorbusinessinitiatingthedraftisknownasthemaker.Thepartytowhomthedraftispresentedisknownasthedrawee.DraftInternationalTradeSettlement—Asightdraftispayableonpresentationtothedrawee.—Atimedraftallowsforadelayinpayment—normally30,60,90,or120days.BillofLadingInternationalTradeSettlement—Thebillofladingisissuedtotheexporterbythecommoncarriertransportingthemerchandise.—Thebillofladingservesthreepurposes:areceipt,acontract,andadocumentoftitle.BillofLadingInternationalTradeSettlement—Asareceipt,thebillofladingindicatesthatthecarrierhasreceivedthemerchandisedescribedonthefaceofthedocument.BillofLadingInternationalTradeSettlement—Asacontract,itspecifiesthatthecarrierisobligatedtoprovideatransportationserviceinreturnforacertaincharge.BillofLadingInternationalTradeSettlement—Asadocumentoftitle,itcanbeusedtoobtainpaymentorawrittenpromiseofpaymentbeforethemerchandiseisreleasedtotheimporter.BillofLadingInternationalTradeSettlement—Thebillofladingcanalsofunctionascollateralagainstwhichfundsmaybeadvancedtotheexporterbyitslocalbankbeforeorduringshipmentandbeforefinalpaymentbytheimporter.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.1.Theimporterplacesanorderwiththeexporterandaskstheexporterifhewouldbewillingtoshipunderaletterofcredit.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.2.Theexporteragreestoshipunderaletterofcreditandspecifiesrelevantinformationsuchaspricesanddeliveryterms.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.3.Theimporterappliestohisbankforaletterofcredittobeissuedinfavoroftheexporterforthemerchandisetheimporterwishestobuy.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.4.Theimporter’sbankissuesaletterofcreditintheimporter’sfavorandsendsittotheexporter’sbank.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.5.Theexporter’sbankadvisestheexporteroftheopeningofaletterofcreditinhisfavor.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.6.Theexportershipsthegoodstotheimporteronacommoncarrier.Anofficialofthecarriergivestheexporterabilloflading.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.7.Theexporterpresentsa90-daytimedraftdrawnontheimporter’sbankinaccordancewithitsletterofcreditandthebillofladingtotheexporter’sbank.Theexporterendorsesthebilloflading,sotitletothegoodsistransferredtotheexporter’sbank.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.8.Theexporter’sbanksendsthedraftandbillofladingtotheimporter’sbank.Theimporter’sbankacceptsthedraft,takingpossessionofthedocumentsandpromisingtopaythedraftin90days.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.9.Theimporter’sbankreturnstheaccepteddrafttotheexporter’sbank.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.10.Theexporter’sbanktellstheexporterthatithasreceivedtheacceptedbankdraft,whichispayablein90days.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.11.Theexportersellsthedrafttohisbankandreceivesthediscountedcashvalueofthedraftinreturn.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.12.Theimporter’sbanknotifiestheimporterofthearrivalofthedocuments.Heagreestopayhisbankin90days.Thebankthenreleasesthedocumentssotheimportercantakepossessionoftheshipment.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.13.In90days,theimporter’sbankreceivestheimporter’spayment,soithasfundstopaythematuringdraft.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Thetypicaltransactioninvolves14steps.14.In90days,theexporter’sbank,theholderoftheaccepteddraft,presentsittotheimporter’sbankforpayment.Theimporter’sbankpays.ATypicalInternationalTradeTransactionInternationalTradeSettlement—Whatroledoesabankplayintheinternationaltrade?—Whatarethemethodsofinternationaltradesettlement?Andwhataretheadvantagesanddisadvantagesofthem?QuestionsforDiscussionInternationalTradeSettlement—Atariffisataxleviedonimports.TariffsRestrictionstoInternationalTrade—Tariffsmakeimportedgoodsrelativelymoreexpensivethantheyotherwisewouldhavebeen,andtherebyencouragetheconsumptionofdomesticallyproducedgoods.

TariffsRestrictionstoInternationalTrade—Aprotectivetariffisdesignedtoshielddomesticproducersfromforeigncompetition.Itisaimedtosavejobsfordomesticworkersandkeepindustries(especiallyinfantindustries)frombankruptcy.

TariffsRestrictionstoInternationalTrade—Althoughprotectivetariffsareusuallynothighenoughtostoptheimportationofforeigngoods,theyputforeignproducersatacompetitivedisadvantageinsellingindomesticmarkets.

TariffsRestrictionstoInternationalTrade—Whosuffersandwhogains?Thegovernmentgains,becausethetariffincreasesgovernmentrevenues.Domesticproducersgain,becausethetariffaffordsthemsomeprotectionagainstforeigncompetitorsbyincreasingthecostofimportedforeigngoods.Consumerslosebecausetheymustpaymoreforcertainimports.RestrictionstoInternationalTradeTariffs—ConclusionsFirst,tariffsareunambiguouslypro-producerandanti-consumer.Theyprotectproducersfromforeigncompetitors.Importtariffsimposesignificantcostsondomesticconsumersintheformofhigherprices.RestrictionstoInternationalTradeTariffs—ConclusionsSecond,tariffsreducetheoverallefficiencyoftheworldeconomy.Aprotectivetariffencouragesdomesticfirmstoproduceproductsathomethat,intheory,couldbeproducedmoreefficientlyabroad.Theconsequenceisaninefficientutilizationofresources.RestrictionstoInternationalTradeTariffs—In1995,theWorldTradeOrganization(WTO)wasfounded,anditsfunctionsweretopromotefreeandfairtradeamongcountries.—Sinceitsformation,roundsofnegotiationshaveresultedinadeclineinworldwidetariffs.TariffsRestrictionstoInternationalTrade—Animportquotaisadirectrestrictiononthequantityofsomegoodthatmaybeimportedintoacountry.—Therestrictionisusuallyenforcedbyissuingimportlicensestoagroupofindividualsorfirms.

—Insomecases,therighttosellisgivendirectlytothegovernmentofexportingcountries.QuotasRestrictionstoInternationalTrade—Theeffectofquotasinlimitingtradeissimilartotheeffectofatariff.Bothincreasepriceandreducequantity.QuotasRestrictionstoInternationalTrade—DifferencesbetweenTariffsandQuotas1.Inthecaseofthetariff,thegovernmentcollectstariffrevenue.RestrictionstoInternationalTradeQuotas—DifferencesbetweenTariffsandQuotas2.Inthecaseofaquota,thegovernmentcollectsnorevenue.Thebenefitoftheincreaseinpricegoestotheimporterasadditionalcorporaterevenue.Thequotameansmoreprofitsaslongasyourcompanyistheonetoreceivetherightstofillthosequotas.RestrictionstoInternationalTradeQuotas—DifferencesbetweenTariffsandQuotas3.Comparedwithquotas,tariffsmayaffecttradepatterns.Forexample,asoftheUnitedStatesimposesatariffonlighttrucksfromJapan,sotheUnitedStatesimportsfewlighttrucksfromJapan.YouwillseeJapanese-namedtrucks,butmostoftheseareproducedintheUnitedStates.RestrictionstoInternationalTradeQuotas—DifferencesbetweenTariffsandQuotas4.Anyincreaseindemandunderaquotawouldresultinhigherpricesbecauseitwouldhavetobefilledbydomesticproducers.Underatariff,anyincreaseindemandwouldnotaffectprice.RestrictionstoInternationalTradeQuotas—Toavoidtheimpositionofnewtariffsontheirgoods,countriesoftenvoluntarilyrestricttheirexports.—Theeffectofsuchvoluntaryrestraintagreementsissimilartotheeffectofquotas:Theydirectlylimitthequantityofimports,increasingthepriceofthegoodandhelpingdomesticproducers.RestrictionstoInternationalTradeVoluntaryRestraintAgreements—Anembargoisatotalrestrictionontheimportorexportofagood.—Embargoesareusuallyestablishedforinternationalpoliticalreasonsratherthanforprimarilyeconomicreasons.RestrictionstoInternati