国际贸易01.ppt

Syllabus Instructor: 叶海燕 E-mail: Classroom: 新3210 Class Time: Week 116 Mon 4:00pm-5:40pm（单周）; Tues 10:10am-11:50am Office room:鉴四1013 Requirements Requirements 人手一本教材并按时出席课堂学习； 准备一个作业本，完成每章的课后作业； 每周摘录一则与国际贸易相关的商务新闻（300字 左右，共15则），写明时间和出处，并做简单评 述； 课程Presentation, 人一个小组，选择一个与国 际贸易相关的时事主题，做30分钟的演讲。 Teaching material 国际经济学 (9th edition), Dominick Salvatore, 清华大 学出版社(影印) Reference book: 1. 国际经济学，Steven Husted and Michael Melvin, 东北财经大学出版社 (2008) （影印） 2. 国际贸易（14th edition）Thomas A. Pugel, 中国人 民大学出版社（影印） 3. 国际经济学（6th edition），Paul R. Krugman and Maurice Obstfeld, 清华大学出版社（影印） Chapter 1 An Introduction to International Trade Topics to be covered: 1.1 Branches of International Economics 1.2 The importance of international trade 1.3 Characteristic of countries and trade 1.4 Organization and Methodology of the Text 1.5 The Different Forms of International Trade Key words International economics international trade International finance Theory, policy, practice Interdependence Index of openness GDP (gross domestic products) Developing country developed country Benefits and gains from trade 国际经济学 理论、政策、实务 对外贸易依存度 开放度指数 贸易利益（贸易所得） Key words Trade restriction trade barriers tariff barriers nontariff barriers Trade Protectionism Export Import Trade negotiation Trade deficit Trade surplus Multinational Corporations (MNCs) Trade in merchandise 贸易限制 贸易壁垒 关税壁垒 非关税壁垒 贸易保护主义 贸易谈判 贸易赤字/贸易逆差 贸易盈余/贸易顺差 跨国公司 货物贸易 1.1 Branches of International Economics Trade (international microeconomics) Finance (international macroeconomics) Branches of International Economics Trade (international microeconomics) Why do nations engage in international trade? What goods and services do nations trade? How does international trade affect national income, welfare, and jobs? How do trade barriers affect national welfare? How are countries affected by international movements of labor and capital? Branches of International Economics (cont.) Finance (international macroeconomics) What is the balance of payments? What is an exchange rate and what factors determine the exchange rate? What is the relationship between exchange rates, prices, and interest rates? How are countries affected by foreign direct investment and lending? How effective are domestic policies given the global economy? 1.2 The importance of international trade Our daily life facts; Canon copier; Sony TV Set; BMW auto; Becks beer; Michelin tire; Burberrys coat, Nokia cell phone; Coco-cola; Nike shoes; IBM PC 2. Globalization : case study 1-1 The Dell PC and other PCs sold in U.S. are all but American! Causes of globalization: Globalization in production Convergence of tastes International flow of factors 3. The Rising Importance of International Trade to the United States and China $860 $625 73% Even the IBM PC Isnt All-American Total manufacturing cost: US$860 Portion made overseas: US$625 In u.s. owned plants $230 In foreign-owned plants $395 Distribution of Manufacturing PartsDistribution of Manufacturing Parts Monitor Korea($85) Semiconductors Japan($105), US ($105) Power supply Japan ($60) Graphics Printer Japan ($160) Floppy Disk Drives Singapore ($165) Assembly of disk drives U.S ($25) Keyboard Japan ($50) Case and final Assembly U.S ($105) Total manufacturing cost $860 Growth rate of world production and trade 1994: 3.5%- 10.3%; 1995: 2% - 7.2%; 1996: 3.1% - 5.2%; 1997: 3.5% -9.9%; 1998: 1.9% - 5.2%; 1999: 2.8% -10.5%; 2000: 4.1%- 10.9% 2001: 1.6%- -0.6% 2002: 1.8%- 4%; 2003: 2.5%- 5.6%; 2004: 4.2%- 9.2%. FIGURE 1-2 Growth of World Production and Trade, 1990-2004 (annual percentage changes). International Trade Exportsgoods and services produced in one country and sold to other countries. Importsgoods and services consumed in a country but which have been purchased from other countries. Trade Deficit (Surplus)a country has a trade deficit (surplus) if its imports (exports) exceeds its exports (imports). Interdependence Interdependence is given by the ratio of their imports and exports of goods and services to their gross domestic production (GDP). -For China: the interdependence of China during the recent years. -For all over the world: Figure 1.1 on P5: the interdependence of the U.S. FIGURE 1-1 Imports and Exports as a Percentage of GDP in Various Countries in 2001. FIGURE 1-3 Imports and Exports as a Percentage of U.S. GDP, 1965-2005. 中国的对外贸易依存度 2001：38.47% 2002：42.7% 2003：51.89% 2004：59.76% 2005：63.59% 2006：66.85% 值得关注的我国某些大宗商品较高的进口依存度 ，如石油（54%）、铁矿石（40%）、铜（80% ）、大豆，以及定价权的缺失。 Why do all the nations rely on international trade? Small nations have a few very specialized resources or without certain conditions; (Switzerland, Austria) For developing countries and small countries, exports provide earnings to pay for many foreign products； Exports provide employment opportunities; Cost difference: to get much more gains from trade. 1.3 Characteristics of Countries and trade Characteristics of Countries Characteristics of World Trade Characteristics of China Trade (homework for you) Characteristics of Countries Over 190 countries in the world today Population defined as the ratio of a countrys exports to its GDP (or GNP). Open Economya country with a high value of the index of openness. Closed Economya country with a relatively low index of openness. The fact is that larger economies tend to be more closed, while smaller economies tend to be more open. The average level of openness indicates that international trade has become increasingly important for the world economy. 28 29 30 31 Causes of Differences in Economic Growth of Countries Quantity and quality of resource endowments, particularly human capital - Many economists argue that the main engine of growth is the accumulation of knowledge and skills by workers. Investment in plant and equipment Political and socioeconomic environment that is stable and conducive to competition Characteristics of World Trade Value and growth of world merchandise trade Largest exporters and importers 2004: Germany, U.S., China, Japan, France, the Netherlands, Italy, U.K. Canada, and Belgium Geographic patterns Commodity composition Growth of World Exports Refer to Figure 1.1 (next slide) What has caused the explosion of world trade? Reduction in trade barriers Advances in transportation, communication and technology Proliferation of trade agreements Geographic Patterns (the direction of international trade) Developed countries account for bulk of world trade (exports and imports). Developed countries trade primarily with each other. Developing countries rely on developed countries for their export markets. Countries trade mainly with neighbors. The Gravity Model The gravity model postulates that, the bilateral trade between two countries is proportional or at least positively related to the product of the two countries GDPs and to be smaller the greater the distance between the two countries (just like in Newtons law of gravity in physics). The major Trade Partners of the US in 2005: Canada, Mexico, China, Japan, Germany, United Kingdom, South Korea, Taiwan, France, and Italy. Commodity Composition Top three most traded products in 2003: Office machines, computers, and parts Automobiles Crude petroleum A common pattern is for countries to import raw materials or semi-processed goods and then complete the manufacturing process before marketing the product. World Trade in Services Value of $2.1 trillion in 2004 (about 20% of international trade) U.S. is largest export