国际贸易实务 Unit 1 Part B.ppt

Chapter 1 Introduction and Highlight Part B Warming-up Nature of International Business Reasons for International Trade Major Categories of International Business Theories about International Trade Nature of International Business International business is all business transactions that involve two or more countries. Private companies undertake international transactions for profit while governments may not be profit-motivated. Reasons for international trade 1) The uneven distribution of resources around the world is one of the basic reasons for the appearance of international trade. A. Favorable climatic conditions and terrain B. Natural resources C. Skilled workers D. Capital resources E. Favorable geographic location and transport costs F. Insufficient production 2) Economic reasons-A. to expand their sales B. to acquire resources C. to diversify their sources of sales and supplies The Major Categories of International Business Merchandise Exports and Imports (Tangible) Service Exports and Imports (invisibles) Investments (FDI; portfolio investment) Warming-up 完结 Essential Theories About International Trade Protectionist Theories Trade protectionism F. List J.M. Keynes Trade protectionism holds that governments should intervene with trade to prevent the free interflow of foreign products into their domestic markets. ? first voiced T.P. Mercantilism 1.Mercantilists view on Trade: The more gold and silver a nation had, the richer and more powerful it was. Thus, the government had to do all in its power to stimulate the nations exports and discourage and restrict imports (particularly the import of luxury consumption goods). Policies of the mercantilism 只有金银才是财富 任何国家金银储量都 是有限的，只有靠出 口赚取别国金银才能 增加本国财富 同时要限制或禁 止本国购买别国 商品支出本国金 银 限制或禁止进口， 同时鼓励出口 Balance of Trade 贸易差额 The difference between the value of merchandise exports and the value of merchandise imports for a nation during a given period of time. favorable balance of trade Unfavorable balance of trade England began the first large-scale and integrative approach to mercantilism during the Elizabethan Era (15581603). An early statement on national balance of trade appeared in Discourse of the Common Weal of this Realm of England, 1549: “We must always take heed that we buy no more from strangers than we sell them, for so should we impoverish ourselves and enrich them.“ Protection theory of F.List There should be different trade policies in different stages of economic development. 农业时期 农工业时期 农工商业时期 原始未开化时期 畜牧时期 Free Trade Protect infant industry Free trade (Germany) (USA) (Portugal ) (Spain) (France ) (Britain ) Infant industry Underdeveloped industry that, in the face of competition from abroad, may not be able to survive the early years of struggle before reaching maturity. J.M.Keynes Economic growth came from investment, and investment could multiply the increase of national income. Free Trade Theories David Ricardo 大卫李嘉图 “Free flow of international trade benefits all who participate” Theory of Absolute Advantage Theory of Comparative Advantage Factor-proportions Theory In actual practice, however, the world has never had a completely free trading system because every individual country puts controls on trade for reasons. 1. Theory of Absolute Advantage 绝对优势理论(AA) - 当一国(A国)在生产 一种产品时比另一国 (B国)更有效率（即 有绝对优势AA）， 但在生产另一种产品 时效率又不如另一国 (B国)（即有绝对劣 势AD），那么，两 个国家都可专业化生 产各自具有绝对优势 的产品并出口部分该 产品以与对方换取自 己具有绝对劣势的产 品，从而双方都可受 益. Theory of Absolute Advantage (AA) - When one nation is more efficient (AA over) than another in the production of one good but is less efficient than (absolute disadvantage with respect to) the other nation in producing a second good, then both nations can gain by each specializing in the production of the good of its AA and exchanging part of its output with the other nation for the good of its absolute disadvantage (AD). Britain Portugal efficiency Cloth yard/man-hour 20 10 2 : 1 Wine gallon/man-hour 2 4 1 : 2 The Absolute Advantage in International Trade What can we learned from the table? - Britain more efficient than (AA over) Portugal in producing cloth. - Portugal more efficient than (AA over) Britain in producing wine - According to AA theory, if as in table 2-2, can the trade take place between Britain and Portugal? Why? Britain Portugal efficiency Cloth yard/man-hour 20 10 2 : 1 Wine gallon/man-hour 4 3 1 : 0.75 重点 2. Theory of Comparative Advantage Comparative cost theory David Ricardo, John Stuart Mill (1900s) Theory of Comparative Advantage (CA) - Even if one nation is less efficient than (has an AD with respect to) the other nation in the production of both commodities, there is still a basis for mutually beneficial trade. The first nation should specialize in the production of and export of the commodity in which its AD is smaller (this is the commodity of its CA), and import the commodity in which its AD is greater (this is the commodity of its CD). And the second nation 比较优势原理- 即使一 国(A国)与另一国(B国) 相比在生产两种商品 时都没有效率（都有 绝对劣势），两国仍 有互利贸易的基础。 A国应专业化生产和出口 劣势较小(即具有比较 优势CA)的商品而进口 其劣势更大(比较劣势 CD)的商品；而B国应 专业化生产和出口优 势相对更大(即具有比 较优势CA)的商品而进 口其优势较小(比较劣 势CD)的商品。 基本思想 “两利取其重，两弊取其轻。” 比较优势的含义 设：两国A和B，两种商品X和Y。 ax,bx分别表示A，B两国在X商品上的劳动生产率。 ay,by分别表示A，B两国在Y商品上的劳动生产率。 则：当ax bx时，A国在 X商品上具绝对优势。 当ayby 时，B国在 Y商品上具绝对优势。 当ax ay bx by时，A国在 X商品上具比较优势。 当ay ax by bx 时，B国在 Y商品上具比较优势。 Britain Portugal efficiency Cloth yard/man-hour 20 10 2 : 1 Wine gallon/man-hour 4 3 1 : 0.75 Britain has a comparative advantage in producing Cloth, because 20C/4W10C/3W Portugal has a comparative advantage in producing Wine because 3W/10C4W/20C If we say, in Portugal, three gallons of wine is equal to 10 yards of cloth in value, but when the wine has been transported to Britain, it will be worth 15 yards of cloth in value. While on the other hand, 20 yards of cloth in Britain can mean 4 gallons of wine. It will mean 6 gallons of wine in Portugal. If the AA (that one nation has with respect to the other nation) is the same proportion for the two commodities as in the table, can the trade still happen?如果两种商品的绝对优 势（或绝对劣势）的程度成相同比例，互 惠的贸易是否还能进行？ 对比较优势原理的 修正: 即使一国(A国)与另一 国(B国)相比在生产 两种商品时都没有 效率（都有绝对劣 势），两国仍有互 利贸易的基础， 除非一国与另一国相 比，两种商品的绝 对优势（或绝对劣 势）的程度成相同 比例。 Modification of the law of CA : Even if one nation is less efficient than (has an AD with respect to) the other nation in the production of both commodities, there is still a basis for mutually beneficial trade. unless the absolute disadvantage (that one nation has with respect to the other nation) is the same proportion for the two commodities. Factor-proportions Theory 要素禀赋理论 Put forward by Swedish Economists Heckscher and Ohiler, so it is also call the Heckscher-Ohlin model, or H-O model, also known as factor endowment theory. Factor endowments refer to the quantity and quality of labor, land, and natural resources of a country. Factor endowments seem to explain a significant portion of actual world trade patterns. Heckscher-Ohlin Theorem The Heckscher-Ohlin theorem is a theory that explains the existence of a countrys comparative advantage by its factor endowments. According to the theorem, a country has a comparative advantage in the production of a product if that country is relatively well endowed with inputs used intensively in the production of that product. Heckscher-Ohlin Theorem Each country exports the good intensive in the countrys abundant factor, and imports the good intensive in the countrys scarce factor. 两国要素禀赋不同，导致 两国要素价格不同 要素价格差异导致生产成 本差异 生产成本差异导致同种产 品在两国的价格差异 同种产品在不同国家价格 的差异导致国际贸易发生 两国要素密集度和要素丰 裕度的差异形成了不同产 品的比较优势 Exercises (p8,9,10,18,19) 略 Case Study Batteries called “white elephant” exported from China were very popular in Southeast Asia, but in United States no one was interested in the goods. Why? Batteries called “white elephant“ exported from China were very popular in Southeast Asia, because “white elephant“ was a lucky thing in Southeast Asia, but no one was interested in it in the market of Europe and the United States. This is a real story of IB The boss of the company was very strange that the quality of the battery or the price of reasons, so he asked his staff to investigate. Finally he found that is the brand “white elephant“ to be blame. The brands name translated i