商务英语入门第十章_外教社修订版ppt课件

.,高等学校英语拓展系列教程,主编：任书梅王璐,副主编：曹颖,外语教学与研究出版社,.,Chapter10,国际贸易,InternationalTrade,.,LectureOutline,WhatIsInternationalTrade?什么是国际贸易？,ReasonsforInternationalTrade国际贸易的原因,BasicsofInternationalTrade国际贸易的几个基本概念,InternationalTradeSettlement国际贸易结算,RestrictionstoInternationalTrade国际贸易障碍,.,Lead-inActivities,ChinabecametheworldslargestexporterovertakingGermanyin2009.Myriadsofmade-in-Chinacommoditiessoldworldwidehavegreatlyimprovedthelivesofthelocalpeople.,.,Lead-inActivities,1.ThefollowingissomeofChinasbest-knownbrandsofexportcommodities.PleaseidentifythebrandnamesinChineseandcompletethetable.2.WorkinpairstonamesomeotherChinasbrandsofexportcommoditiesyouknow.3.WorkwithyourpartnertolistsomeforeignbrandsinChinesemarket.,.,WhatIsInternationalTrade?,Internationaltradeistheexchangeofgoodsandservicesbetweencountries.,Tradinggloballygivesconsumersandcountriestheopportunitytobeexposedtogoodsandservicesnotavailableintheirowncountries.,.,Differencebetweeninternationaltradeanddomestictrade,Internationaltradeistypicallymorecostlythandomestictrade.,WhatIsInternationalTrade?,.,Differencebetweeninternationaltradeanddomestictrade,Factorsofproductionsuchascapitalandlaboraretypicallymoremobilewithinacountrythanacrosscountries.Insteadofimportingafactorofproduction,acountrycanimportgoodsthatmakeintensiveuseofthatfactorofproductionandthusembodyit.,WhatIsInternationalTrade?,.,Howisinternationaltradesimilartoanddifferentfromdomestictrade?WhatarethemainitemsChinaexportstotheU.S.andwhatdoesChinamainlyimportfromtheU.S.?,QuestionsforDiscussion,WhatIsInternationalTrade?,.,ReasonsforInternationalTrade,Absoluteadvantageandcomparativeadvantagearetheprimaryreasonwhynationsengageininternationaltrade.,.,Acountryhasanabsoluteadvantageintheproductionofaproductwhenitismoreefficientthananyothercountryinproducingit.Thatis,acommoditywillbeproducedinthecountrywhereitcostsleastintermsofresources(capital,land,andlabor).,AbsoluteAdvantage,ReasonsforInternationalTrade,.,Countriesshouldspecializeintheproductionofgoods,forwhichtheyhaveanabsoluteadvantageandthentradetheseforgoodsproducedbyothercountries.,AbsoluteAdvantage,ReasonsforInternationalTrade,.,Ifnationsarewise,theyconcentratetheireffortsonthethingstheycandobestandrelyuponinternationaltradetomakeupforthedeficiencies.Inthiswaytheyareabletoimprovetheirstandardofliving.,AbsoluteAdvantage,ReasonsforInternationalTrade,.,Comparativeadvantagereferstotheabilityofacountrytoproduceaparticulargoodataloweropportunitycostoveranothercountry.,ComparativeAdvantage,ReasonsforInternationalTrade,.,Opportunitycostisthecostofanyactivitymeasuredintermsofthevalueofthenextbestalternativewhichisnotchosen.Examples:Ifagardenerdecidestogrowcarrots,hisorheropportunitycostisthealternativecropthatmighthavebeengrowninstead(potatoes,tomatoes,pumpkins,etc.).,ComparativeAdvantage,ReasonsforInternationalTrade,.,Thebasicideaoftheprincipleofcomparativeadvantageisthataslongastherelativeopportunitycostsofproducinggoods(whatmustbegivenupinproducingonegoodinordertoproduceanothergood)differamongcountries,thentherearepotentialgainsfromtrade.,ComparativeAdvantage,ReasonsforInternationalTrade,.,ComparativeAdvantage,ReasonsforInternationalTrade,.,Howdoyoudistinguishbetweenabsoluteadvantageandcomparativeadvantage?Ofthetwoprinciplesjustdiscussed,absoluteadvantageandcomparativeadvantage,onwhichdoyouthinkChinareliesmostheavily?Why?,QuestionsforDiscussion,ReasonsforInternationalTrade,.,Animportisanygoodorservicebroughtinfromonecountrytoanothercountryinalegitimatefashion.Anexportreferstosellinggoodsandservicesproducedinthehomecountrytoothermarkets.,ImportandExport,BasicsofInternationalTrade,.,FixedExchangeRateAcurrencysvalueisfixedagainstamajorworldcurrency(usuallytheU.S.dollar),ortoanothermeasureofvalue,suchasgold.Inordertomaintainthelocalexchangerate,thecentralbankbuysandsellsitsowncurrencyontheforeignexchangemarketinreturnforthecurrencytowhichitispegged,andfixedexchangerateissometimescalledapeggedexchangerate.,ExchangeRateSystem,BasicsofInternationalTrade,.,FixedExchangeRateOnewaytomaintainafixedexchangerateistomanipulatethemarketthroughtheuseofofficialreserves.Suchmanipulationsarecalledcurrencyinterventions.,ExchangeRateSystem,BasicsofInternationalTrade,.,FixedExchangeRateTomaintainfixedexchangerates,thegovernmentmustchooseanexchangerateandhavesufficientofficialreservestosupportthatrate.,ExchangeRateSystem,BasicsofInternationalTrade,.,FixedExchangeRateAdvantages:1.Firmsknowwhatexchangerateswillbe,makingtradeeasier.2.Afixedexchangerateisusuallyusedtostabilizethevalueofacurrency,whichmakestradeandinvestmentsbetweenthetwocountrieseasierandmorepredictable.,ExchangeRateSystem,BasicsofInternationalTrade,.,FlexibleExchangeRateThegovernmentdoesnotenterintoforeign,exchangemarketsatallbutleavesthedeterminationofexchangeratestotallyuptocurrencytraders.Thepriceofitscurrencyisallowedtoriseandfallasmarketforcesdictate.,ExchangeRateSystem,BasicsofInternationalTrade,.,FlexibleExchangeRateAflexibleexchangerateisoftentermed“self-correcting,”asanydifferencesinsupplyanddemandwillautomaticallybecorrectedinthemarket.,ExchangeRateSystem,BasicsofInternationalTrade,.,FlexibleExchangeRateIfdemandforacurrencyislow,itsvaluewilldecrease,thusmakingimportedgoodsmoreexpensiveandstimulatingdemandforlocalgoodsandservices.Thiswillleadtoanincreaseinthecurrencydemand,causinganauto-correctioninthemarket.,ExchangeRateSystem,BasicsofInternationalTrade,.,FlexibleExchangeRateInthefloatingexchangeratesystem,asthereservesarenotusedtocontrolthevalueofthecurrency,itisnotnecessarytokeephighlevelsofreserves(likegold)offoreigncountries.,ExchangeRateSystem,BasicsofInternationalTrade,.,FlexibleExchangeRateDisadvantages:1.Therisksanduncertaintiesassociatedwithflexibleexchangeratesmaydiscouragetheflowoftrade.2.Flexibleexchangeratesmaydestabilizethedomesticeconomybecausewidefluctuationsstimulateandthendepressindustriesproducingexportedgoods.,ExchangeRateSystem,BasicsofInternationalTrade,.,Anationsbalanceofpayments(BOP)isthesumofallthetransactionsthattakeplacebetweenitsresidentsandtheresidentsofallforeignnations.,TheBalanceofPayments,BasicsofInternationalTrade,.,Thosetransactionsincludeexportsandimportsofgoods,exportsandimportofservices,touristexpenditures,interestanddividendsreceivedorpaidabroad,andpurchasesandsalesoffinancialorrealassetsabroad.,TheBalanceofPayments,BasicsofInternationalTrade,.,Alltransactionsarerecordedwhethertheyderivefromtradeingoodsandservicesortransferofcapital.AsingleBOPaccountisdividedintothreecomponents:thecurrentaccount,thecapitalaccount,andtheofficialreservesaccount.,TheBalanceofPayments,BasicsofInternationalTrade,.,ThethreecomponentsoftheBOPmusttogetherequalzerowithnooverallsurplusordeficit.Imbalancesarepossibleonthecurrentaccount,thecapitalaccountorthesumofthetwo.Imbalancescanresultinsurpluscountriesaccumulatingwealth,whiledeficitnationsbecomeincreasinglyindebted.,TheBalanceofPayments,BasicsofInternationalTrade,.,AcountrysBOPissaidtobeinsurplusbyacertainamountifsourcesoffunds(suchasexportsorthereceiptsofloansandinvestments)exceedusesoffunds(suchasimportsortoinvestinforeigncountries)bythatamount.ThereissaidtobeaBOPdeficitiftheformerarelessthanthelatter.,TheBalanceofPayments,BasicsofInternationalTrade,.,Ifacountryisimportingmorethanitexports,itstradebalancewillbeindeficit,buttheshortfallwillhavetobecounterbalancedinotherways,suchasbyfundsearnedfromitsforeigninvestments,byreceivingloansfromothercountriesorbyrunningdowncentralbankreserves.,TheBalanceofPayments,BasicsofInternationalTrade,.,CurrentAccountThecurrentaccountreferstothenetflowofcurrenttransactions,includinggoods,services,andinterestpayments,betweencountries.,BasicsofInternationalTrade,TheBalanceofPayments,.,CurrentAccountVisibles:arecordofallreceiptsfromabroadfromtheexportofgoodsandallexpendituresabroadontheimportofgoods.Whenthesearecompared,thisisknownasthebalanceofvisibletrade.,BasicsofInternationalTrade,TheBalanceofPayments,.,CurrentAccountInvisibles:arecordofallreceiptsfromabroadinreturnforservicesrenderedandallexpenditureabroadforforeignservices.,BasicsofInternationalTrade,TheBalanceofPayments,.,CapitalAccountThecapitalaccountreflectsnetchangeinnationalownershipofassets.Itrecordsalltransactionsarisingfromcapitalmovementsintoandoutofthecountry.,BasicsofInternationalTrade,TheBalanceofPayments,.,CapitalAccountForexample,aforeignfirmmaybuyarealasset,say,anofficebuildingintheUnitedStates,orafinancialasset,forinstance,aU.S.governmentsecurity.Bothkindsoftransactioninvolvethe“export”oftheownershipofU.S.assetsfromtheUnitedStatesinreturnforinpaymentsofforeigncurrency.,BasicsofInternationalTrade,TheBalanceofPayments,.,CapitalAccountAsurplusinthecapitalaccountmeansmoneyisflowingintothecountry(suchasthereceiptsofloansandforeigninvestmentsinChina).Adeficitinthecapitalaccountmeansmoneyisflowingoutthecountry(suchaspurchaseassetsandinvestinforeigncountries).,BasicsofInternationalTrade,TheBalanceofPayments,.,OfficialReservesAccountThecentralbanksholdquantitiesofforeigncurrenciescalledofficialreserves.Thesereservescanbedrawnontomakeupanynetdeficitinthecombinedcurrentandcapitalaccountmuchasyouwoulddrawonyoursavingstopayforaspecialpurchase.,BasicsofInternationalTrade,TheBalanceofPayments,.,OfficialReservesAccountInsomeyears,thecurrentandcapitalaccountsbalancesarepositive,meaningthatacountryearnsmoreforeigncurrenciesthanitneeds.,BasicsofInternationalTrade,TheBalanceofPayments,.,Whyistheflexibleexchangerateoftentermedself-correcting?IsChinaasurplusordeficitcountrynowadays?DoesChinabenefitorsufferfromitsbalanceofpayments?,QuestionsforDiscussion,BasicsofInternationalTrade,.,Neitherpartywhoengagesininternationaltradecompletelytruststheother.Unlessthereissomewayofestablishingtrustbetweentheparties,thetransactionmightneveroccur.,LackofTrust,InternationalTradeSettlement,.,Aletterofcredit,abbreviatedasL/C,standsatthecenterofinternationalcommercialtransactions.Issuedbyabankattherequestofanimporter,theletterofcreditstatesthatthebankwillpayaspecifiedsumofmoneytoabeneficiary,normallytheexporter,onpresentationofparticular,specifieddocuments.,LetterofCredit,InternationalTradeSettlement,.,LetterofCredit,InternationalTradeSettlement,Advantages:Boththeimporterandtheexporterarelikelytotrustreputablebanks,eveniftheydonottrusteachother.Oncetheexporterhasseenaletterofcredit,heknowsthatheisguaranteedpaymentandwillshipthemerchandise.,.,LetterofCredit,InternationalTradeSettlement,Advantages:Anexportermayfindthathavingaletterofcreditwillfacilitateobtainingpre-exportfinancing.Havingseentheletterofcredit,thebankmightbewillingtolendtheexporterfundstoprocessandpreparethemerchandise.Thisloanmaynothavetoberepaiduntiltheexporterhasreceivedhispaymentforthemerchandise.,.,LetterofCredit,InternationalTradeSettlement,Advantages:Asfortheimporter,shedoesnothavetopayforthemerchandiseuntilthedocumentshavearrivedandunlessallconditionsstatedintheletterofcredithavebeensatisfied.,.,LetterofCredit,InternationalTradeSettlement,Drawback:Fortheimporter,shemustpaythefeefortheletterofcredit.Inaddition,sincetheletterofcreditisafinancialliabilityagainsther,itmayreduceherabilitytoborrowfundsforotherpurposes.,.,Draft,InternationalTradeSettlement,Adraft,sometimesreferredtoasabillofexchange,istheinstrumentnormallyusedininternationalcommercetoeffectpayment.Adraftissimplyanorderwrittenbyanexporterinstructinganimporter,oranimportersagent,topayaspecifiedamountofmoneyataspecifiedtime.,.,Draft,InternationalTradeSettlement,Thepersonorbusinessinitiatingthedraftisknownasthemaker.Thepartytowhomthedraftispresentedisknownasthedrawee.,.,Draft,InternationalTradeSettlement,Asightdraftispayableonpresentationtothedrawee.Atimedraftallowsforadelayinpaymentnormally30,60,90,or120days.,.,BillofLading,InternationalTradeSettlement,Thebillofladingisissuedtotheexporterbythecommoncarriertransportingthemerchandise.Thebillofladingservesthreepurposes:areceipt,acontract,andadocumentoftitle.,.,BillofLading,InternationalTradeSettlement,Asareceipt,thebillofladingindicatesthatthecarrierhasreceivedthemerchandisedescribedonthefaceofthedocument.,.,BillofLading,InternationalTradeSettlement,Asacontract,itspecifiesthatthecarrierisobligatedtoprovideatransportationserviceinreturnforacertaincharge.,.,BillofLading,InternationalTradeSettlement,Asadocumentoftitle,itcanbeusedtoobtainpaymentorawrittenpromiseofpaymentbeforethemerchandiseisreleasedtotheimporter.,.,BillofLading,InternationalTradeSettlement,Thebillofladingcanalsofunctionascollateralagainstwhichfundsmaybeadvancedtotheexporterbyitslocalbankbeforeorduringshipmentandbeforefinalpaymentbytheimporter.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.1.Theimporterplacesanorderwiththeexporterandaskstheexporterifhewouldbewillingtoshipunderaletterofcredit.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.2.Theexporteragreestoshipunderaletterofcreditandspecifiesrelevantinformationsuchaspricesanddeliveryterms.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.3.Theimporterappliestohisbankforaletterofcredittobeissuedinfavoroftheexporterforthemerchandisetheimporterwishestobuy.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.4.Theimportersbankissuesaletterofcreditintheimportersfavorandsendsittotheexportersbank.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.5.Theexportersbankadvisestheexporteroftheopeningofaletterofcreditinhisfavor.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.6.Theexportershipsthegoodstotheimporteronacommoncarrier.Anofficialofthecarriergivestheexporterabilloflading.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.7.Theexporterpresentsa90-daytimedraftdrawnontheimportersbankinaccordancewithitsletterofcreditandthebillofladingtotheexportersbank.Theexporterendorsesthebilloflading,sotitletothegoodsistransferredtotheexportersbank.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.8.Theexportersbanksendsthedraftandbillofladingtotheimportersbank.Theimportersbankacceptsthedraft,takingpossessionofthedocumentsandpromisingtopaythedraftin90days.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.9.Theimportersbankreturnstheaccepteddrafttotheexportersbank.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.10.Theexportersbanktellstheexporterthatithasreceivedtheacceptedbankdraft,whichispayablein90days.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.11.Theexportersellsthedrafttohisbankandreceivesthediscountedcashvalueofthedraftinreturn.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.12.Theimportersbanknotifiestheimporterofthearrivalofthedocuments.Heagreestopayhisbankin90days.Thebankthenreleasesthedocumentssotheimportercantakepossessionoftheshipment.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.13.In90days,theimportersbankreceivestheimporterspayment,soithasfundstopaythematuringdraft.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,Thetypicaltransactioninvolves14steps.14.In90days,theexportersbank,theholderoftheaccepteddraft,presentsittotheimportersbankforpayment.Theimportersbankpays.,.,ATypicalInternationalTradeTransaction,InternationalTradeSettlement,.,Whatroledoesabankplayintheinternationaltrade?Whatarethemethodsofinternationaltradesettlement?Andwhataretheadvantagesanddisadvantagesofthem?,QuestionsforDiscussion,InternationalTradeSettlement,.,Atariffisataxleviedonimports.,Tariffs,RestrictionstoInternationalTrade,.,Tariffsmakeimportedgoodsrelativelymoreexpensivethantheyotherwisewouldhavebeen,andtherebyencouragetheconsumptionofdomesticallyproducedgoods.,Tariffs,RestrictionstoInternationalTrade,.,Aprotectivetariffisdesignedtoshielddomesticproducersfromforeigncompetition.Itisaimedtosavejobsfordomesticworkersandkeepindustries(especiallyinfantindustries)frombankruptcy.,Tariffs,RestrictionstoInternationalTrade,.,Althoughprotectivetariffsareusuallynothighenoughtostoptheimportationofforeigngoods,theyputforeignproducersatacompetitivedisadvantageinsellingindomesticmarkets.,Tariffs,RestrictionstoInternationalTrade,.,Whosuffersandwhogains?Thegovernmentgains,becausethetariffincreasesgovernmentrevenues.Domesticproducersgain,becausethetariffaffordsthemsomeprotectionagainstforeigncompetitorsbyincreasingthecostofimportedforeigngoods.Consumerslosebecausetheymustpaymoreforcertainimports.,RestrictionstoInternationalTrade,Tariffs,.,ConclusionsFirst,tariffsareunambiguouslypro-producerandanti-consumer.Theyprotectproducersfromforeigncompetitors.Importtariffsimposesignificantcostsondomesticconsumersintheformofhigherprices.,RestrictionstoInternationalTrade,Tariffs,.,ConclusionsSecond,tariffsreducetheoverallefficiencyoftheworldeconomy.Aprotectivetariffencouragesdomesticfirmstoproduceproductsathomethat,intheory,couldbeproducedmoreefficientlyabroad.Theconsequenceisaninefficientutilizationofresources.,RestrictionstoInternationalTrade,Tariffs,.,In1995,theWorldTradeOrganization(WTO)wasfounded,anditsfunctionsweretopromotefreeandfairtradeamongcountries.Sinceitsformation,roundsofnegotiationshaveresultedinadeclineinworldwidetariffs.,Tariffs,RestrictionstoInternationalTrade,.,Animportquotaisadirectrestrictiononthequantityofsomegoodthatmaybeimportedintoacountry.Therestrictionisusuallyenforcedbyissuingimportlicensestoagroupofindividualsorfirms.Insomecases,therighttosellisgivendirectlytothegovernmentofexportingcountries.,Quotas,Rest