自考国际商务英语复习资料.doc

lesson 1 International Business1. International business国际贸易Transaction between parties from different countries. Sometimes business across the borders of different customs areas of the same country is also regarded as import and export.2. Visible trade有形贸易The form of commodity trade. i.e. exporting and importing goods produced or manufactured in one country for consumption or resale in another.3. Invisible trade无形贸易The form of service trade. i.e. transportation, communication, banking, insurance, consulting, information etc. 4. Franchise特许An arrangement by which an monopoly producer or owner gives another permission for the exclusive right to manufacture or sell the products in a certain area. Franchising特许经营A special form of licensing. A firm, called the franchisee, is allowed to operate in the name of another, called the franchiser who provides the former with trademarks, brand names, logo, and operating techniques for royalty.5. Licensor 给予许可的人A person or a company granting a licence Licensing许可经营/国际许可A firm lease the right to use its intellectual property to a firm in another country. Such as trademarks, brand names, patents, copyright or technology.6. Non-tariff barrier非关税壁垒All forms of man-made obstructions to international trade other than tariffs, including prohibitions and quotas, etc.7. Portfolio证券The entire collection of investments in the form of stocks, bonds, or certificate of deposits for purposes other than controlling.8. Turnkey contract交钥匙工程One in which one of the parties agree to supply, at the contract price, a complete product ready for use, such as a new home, factory, ship, etc. 9. Contract manufacturing承包生产A firm can concentrate on their strongest part in the value chain.11. Major differences between international business and domestic business.Ans: Differences in (1) legal system (2) currencies (3) cultural background: language, customs, traditions, religion, value, behavior etc. (4) natural and economic conditions12. Major types of international businessAns: (1) trade : A. commodity trade B. service trade(2) Investment :(difference) A. foreign direct investment (FDI外国直接投资） (is made for returns through controlling the enterprises or assets invested in in a host country.) B. portfolio investment 证券投资 (refers to purchases of foreign financial assets for a purpose other than controlling.)(3) other types: A. licensing & franchising (in comparison with the relation between the licenser and licensee, franchiser has more control over and provide more support for the franchisee.) B. management contract &contract manufacturing C. turnkey project & BOT(making profit from operating the project for a period )13. Why do firms choose licensing as a means of entering a foreign market?Ans: (1) do not have to make cash payments to start business ;(2) receive income in the form of royalty;(3) benefit from locational advantages of foreign operation without any obligations in ownership or management.14. Under what condition is management contract most applicable?Ans: When a government forbids foreign ownership in certain industries it considers to be of strategic importance but lacks the expertise for operation. A foreign company to operate in the industry without owning the assets.Lesson 2 Income Level and the World Market1. PPP购买力平价-purchasing power parity Purchasing power购买力 of persons, the public, having the money to buy goods and services.2.Recipient接受者 a person or an organization etc. that receives something.3. Infrastructure基础设施large-scale public services, such as water and power supplies, road, rail and radio communications, etc. Needed to support economic activity, esp.industry, trade and commerce.4. GNP-refer to the market value of goods and services produced by the property and labor owned by the resident of an economy.（国民生产总值） (focuses on ownership of the factors of production) GDP-refer to the market value of all goods and services produced within the geographic area of an economy.（国内生产总值） (concentrates on the place where production take place) 5. Countries of the world are divided by the World Bank into 3 categories: (1) high-income countries (per capita income of $9,386 and above): A. OECD (the Organization for Economic Cooperation and Development) B. Rich oil producing countries of the Middle East (Kuwait, Saudi Arabia &Arab Emirates) C. Small-industrialized countries or regions (Israel, Singapore, HK and Taiwan) (2) middle-income countries (per capita income bellow $9,386 but above $765 ) A. 6 OECD members ( Czech, Greece, Hungary, Mexico and Turkey ) B. -a. Some Latin American countries -b. Some Asia countries (China, Indonesia, Malaysia, the Philippines and Thailand) -c. Some South African and oil-producing countries (Libya, Nigeria, Algeria) (3) low-income countries (per capita incomes of only $765 or even less) Include: most African countries, some Asia countries and a few Latin American countries.6. High-income countries often have :(1) good infrastructure (2)high purchasing power (3)advanced technology(4) efficient management (5) favorable environment for trade and investment A. Offer prime markets for expensive consumer goods B. Are both attractive sources and destinations of investment7. Low-income countries should not be neglected in international business activities:(1) lower-priced staple goods (2) cheap labor(3) are often rich in resources (4)market is something to be developed8. In what way, GDP&per capita income significant in assessing（评估）the potential of a particular market:(1) GDP is important in market assessment for durable equipment耐用设备or bulk goods大宗货物, such as grain谷物, steel, or cement水泥. (indicates the overall size of an economy）(2) Per capita income is important when marketing consumer durables.(reveals the average income level of consumers)9. China with a per capita income of over $1,100 is a middle-income countries though is was a low income countries just a few years ago.10. The best policy for China to develop business opportunities is wherever advantageous while keeping in mind the key markets.11. Triad -refers to the 3 richest region of the world ( the United States, the EU and Japan). Quad -extend the scope of Triad to include Canada and name the broadened grouping Quad.12.OECD (the Organization for Economic Cooperation and Development)经济合作发展组织headquarters in Paris, established in 1963, have 29members (23members are high-income countries & 6 middle-income countries).Lesson 3 Regional Economic Intergration1. Major objective of regional integrationTo better enjoy the benefit of free flow of goods, services, capital, labor and other resources, countries have signed various agreement to liberalize trade among themselves while putting up barriers to economic activities with non-members.2. The characteristics of a common market(1) Free trade area自由贸易区 members of a free trade removes barriers to the flow of goods and services among themselves while each member still adopts its own policy as regards to trade with outsiders.(different members may have different tariff rates or quota restrictions.)The most notable(largest market)free trade area is NAFTA (the North American Free Trade Agreement), formed by the United Stated, Canada, Mexico in 1991.(2)Customs union 关税同盟by adopting（采取）the same trade policy for all members toward countries outside their organization in addition to abolishing（废除）trade barriers among themselves.(Its impossible for non-members to get into the market of the customs union in a detour（以迂回方式）as they possibly do in the case of trade with a free trade area.)(3)Common market共同市场the European Community remained a common market for some years in the past A. Free movement of goods and services B. Adoption of common external trade policy C. Free movement of the factor of production (such as labor, capital, and technology) Its hard to say individual members will always benefit, still less to expect them to enjoy the advantage of factor mobility to the same degree.(4) Economic union 经济同盟A. is characterized by integration of the domestic policies of its members in respect of economy, finance etc. in addition to absence of trade barriers, practice of common external policy and free production factor mobility. (not only to harmonize their taxation, government expenditure, industry policies,etc.but also use the same currency.)B. the member countries are require to surrender some of their national sovereignty, which is eroding the tradition of the world political system based on the autonomy and supreme power of sovereign states.3. The development of EU(the European Union)欧盟: 1952-ECSC (the European Coal and Steel Community) For more ambitious integration efforts. 1957-EEC (the European Economic Community)-Treaty of Rome signed Aim to realizing the free movement of goods, services, labor and capital as well as harmonization of economic policies of the member countries. 1967-EC (the European community)-became a ture common market as evisaged by the Single European Act formed by emrging EEC, ECSC and EURATOM(the European Atomic Energy Community) 1994-EU-the strength of the Maastricht Treaty-12members (6signatories of the Treaty of Rome :France, Germany, Italy, Belgium, Netherlands and Luxemburg +1973. Britain, Island and Denmark + 1981. Greece + 1986.Spain and Portugal) 1995-15members (+Austria, Finland and Sweden) 1999-use the common European currency for accounting and settlement 2002-euro banknotes and coin were put into circulation.4. The EU is a full-fledged(齐全的) entity. -composed of 20commissioners overseeing 23departments in charge of different affairs.-the commissioners appointed by member governments, but the commissioners are responsible to the Union instead of their home country.(1) The Council of Ministers is the most powerful institution. A. has the final say on all important matters B. has the power to pass legislation C. decision are made by votes allocated to member countries on the basis of their size. D. different ministers attend the council meetings depending on the matters discussed.(2) The European Parliament is an advisory body with limited power. A. vote EU membership application and trade agreements with non-members. B. believed that will be more powerful in the future.5. APEC(the Asia-Pacific Economic Cooperation) 亚太经合组织set up at the Ministerial Meeting held in Australian capital Canberra. 1991,attended by 12members.(1) 21members:all the major Pacific Rim countries and regions.(2) has a five-layer organization structure A. the Informal Meeting of Economic leaders-held annually B. the Dual-Ministerial Meeting -attended by foreign ministers and ministers in charge of foreign trade (excluding Chinese Taipei and HK) C.the Meeting for Ministers Responsible for Trade D.the Senior Officials Meetings(SOM)-attended by vice ministers, departmental directors or ambassadors to implement(执行) decisions by economic leaders and ministerial meeting. E.four subordinate committees under SOM a.Committee of Trade and Investment b.Economic Committee c.Economic and Technical Cooperation Subcommittee of SOM d.Budget Management Committee(3) the tenet and objectives-（by the Seoul Declaration） inter-dependence, mutual benefits, adhering to an open and multilateral trading system and reduction of regional trade barriers.(4) the two wheels of APEC(APEC co-operation concentrates on) A. trade and investment liberation and facilitation (TILF) B. economic and technical cooperation (ECOTECH)6. OPEC（the Organization of Petroleum Exporting Countries)欧佩克-the most influential commodity cartel（account for 40%of the global oil production）(1) composed of 13members established in 1960 with headquarters at Vienna.(2) tried to limit the overall crude oil supply(原油供应) of the world for the purpose of maintaining higher oil prices.Lesson 4 Economic Globalization1. Economic Globalization经济全球化 as a objective trend(1) The basic feature : free flow of commodity, capital, technology, service, and information in the context for optimized allocation优化配置Major role:A. Giving new impetus动力 and providing opportunities to world economic development.B. Making the various economies more and more interdependent相互依赖and interactive相互影响.(2)The pros and cons: different countries and peoples do not enjoy balanced benefitsA. enables countries benefit from the boom of other countries B. makes them more vulnerable to the adverse events across the globe.the best policy for us is to follow the trend closely, availing利用the opportunities it offer to develop ourselves and avoiding its possible impacts.2. Multinational enterprise (MNE)跨国企业A business organization which owns (whether wholly or partly), controls and manages assets, often including productive resources, in more that one country, through its member companies incorporated有限公司separately in each of these countries. Each member company is known as a multinational corporation(MNC)跨国公司.(1) If the MNC is established as a result of investments by the MNE, whether through the parent or through another of its already established MNC, it is an affiliate MNC.(2) If the MNC is the original investment corporation,it is known as the parent MNC, normally also the international headquarters of the MNE.(3) An MNE may also have various regional or operational headquarters, in addition to its international headquarters.3. The characteristics of MNE(1) enormous size (2) wide geographical spread (play an important role and why?) A. have a wide range of option in terms of decisions in areas B.take advantage of changes in the international economic environment C.engage in worldwide integrated production and market giving rise to extensive intra-MNE transactionsBcs: in order to the security of its profits, assets, organization and operations.(3) longevity and rapid growth4. Commonly objective of MNE（needs, goals, and roles）(1) profit -the profits goal represents the basic needs of the MNEs shareholders(2) security A.the security in the short-and-long-run B.the security of the MNEs assets and investment C.the security of other organizational needs a. a favorable business environment b. supplies of raw materials and other resource inputs c. effective organizational control and management d. transportation and communication e. technical improvements f. employees including managers(3)as vehicles for cross-border transfer of resources5. The relationship between MNEs &their host countriesHost government can and do wield power over MNCs located within their territories. MNCs are under the legal jurisdiction of their host governments which can impose various rules, regulations and laws on the MNCs to the extent of nationalizing all their assets.6. 4 types of MNCs-according to their organization and way of operation(1) multi-domestic corporation-is a group of relatively independent subsidiaries.(2) the global corporations-views the world market as an integrated whole. Power and responsibility are concentrated at the headquarters that manage production and marketing to achieve the economies of scale as much as possible.(3) the transnational corporation-aim to achieve both efficiency and flexibility, the activities and resources are integrated in an interdependent network of affiliates.(4) world company-as their national identities are blurred to a large extent. Very few companies reached this level of internationalization. When such companies increasing and become dominating, the possibility of conflicts among sovereign states may be greatly reduced. Possibly they will be instrumental to the realization of complete globalization.Lesson 5 -6 International Trade1. International trade国际贸易Is defined as the exchange of goods and service produced in one country with those produced in another.2. Other reasons for international trade:(1) the uneven distribution of natural resources among countries(2) International specialization国际生产专门化A. absolute advantage绝对利益/绝对优势(理论)-holds that a commodity will be produced in the country where it costs least in terms of resources(capital, land, and labor.)-In reality, it is not rare that one country has no absolute advantage in any commodity.B. comparative advantage比较优势(理论)-holds that even if a country is less efficient than another in the production of both commodity, there is still a basis for mutually beneficial trade. -it can make one country better off好转 without making another worse off恶化.The first country should specialize in the production, and export of the commodity in which its absolute disadvantage is smaller, and import the commodity in which its absolute disadvantage is greater.a. introduced by the English economist David Ricardo.b. not a static静止的 concept.(a)Switzerland-watchmaking (b)the United States-the most up-to-date technology.c. the cornerstone基石 of modern thinking on international trade.3. Primary commodities初级货物those commodities not processed, not only slightly processed, usually farm produce or raw material.3. Other bases f