商贸英语新教材

1、Chapter 5 ModernTradeTheories(1) 一、Answer the following Questions: 5、According to Ricardos comparative advantage theory,not necessarily every country has to produce all sorts of goods.What a nation should do is to concentrate its efforts and resources on producing those goods which can generate more

2、 advantages and bring about less disadvanges;under such conditions international trade would result in international division of labor and specialization beneficial to all countries.In addition,Ricardo particularly stressed labor productivity and argued that differences in labor productivity between

3、 nations underlie the notion of comparative advantage.That is why comparative advantage theory is more popular than Smiths absolute advantage theory.Chapter 5 ModernTradeTheories(1) 6、After careful comparison between absolute advantage theory and comparative advantage theory,the following can be fou

4、nd:there is an important dissimilarity between them.According to Smiths absolute advantage doctrine,the products exported by a country must be goods which the exporting country has absolute advantage to produce and the cost of producing it must be absolutely lower than that of the same good of anoth

5、er country;In contrast Ricardos view is different from Smiths:so long as a country has comparative advantage to produce goods,mutually beneficial trade can still happen between trading nations;what is the similarity between them?Both Smith and Ricardo emphasized the supply side of the market and the

6、 fact that the immediate basis for trade stemmed from cost differences.Chapter 5 ModernTradeTheories(1) 二、Translate the following into English 1.In Ricados opinion not necessarily every country has to produce all sorts of goods.What a nation should do is to concentrate its efforts and resources on p

7、roducing those goods which can generate the biggest advantages,bring about the least advantages,and then receive benefits from international trade together with its trading partners. 2.Ricardox comparative advantage theory has only pointed out one basis for international division of labor but not th

8、e fundamental reason for the formation and development of it .Chapter 5 ModernTradeTheories(1) 三、Define the following terms 1.benefit lost by not employing an economic resource in the most profitable alternative.For example,the opportunity cost to a self-ecployed person is the highest salary he or s

9、he could earn elsewhere. 2.economic and political system in which individual owners of capital are free to dispose of it and exploit the workers,for their own benefits. 4.also balance of trade which means accounts setting out the results of a countrys trading position:the difference between its tota

10、l export value and its total import value.It is a component of the balance of payments forming a part of the current account .It includes both the visible trade and the invisible trade balance.Chapter 5 ModernTradeTheories(1) USUKWheat(bushels/hour) 6 1Cloth(yards/hour) 45Chapter 5 ModernTradeTheori

11、es(1) USUKWheat(bushels/hour) 61Cloth(yards/hour)42Chapter 6 ModernTradeTheories(2) 二、Translate the following into English 1.Product cycle or product life cycle theory was worked out or propounded by Vernor and further developed by L.T.Wells and others.According to this theory the life-cycle of a ne

12、w product undergoes mainly the following 4 stayes:(1)introduction stage.(2)growth stage,(3)maturity stage and ,(4)decline stage. The sales and profit of an export commodity vary greatly at different stages. 2.In 2000 an economist by name of Andrew Rose from the University of California,Berkeley work

13、ed out the Gavitymodel of trade.He pointed out by analogy with Newtons theory of the gravitational pull of planets,trade between two countries increases with their economic size,but decreases with the distance between them.Mr Roses theory also argued that joining a currency union might influence tra

14、de.Chapter 6 ModernTradeTheories(2) 三、esp. the underlined parts. 1、puts a lot of stress 2.attaches more importance to other 3.production factor supplies 4.division of incomeChapter 6 ModernTradeTheories(2) 四、Define the following terms 1.supplies of production factors like labor,land and capital . 2.

15、land which is capable of being plowed 3.goods of products made by machinery 5.group of factors that give a company or a country an advantages over its rivals.Sometimes it is also defined as competitiveness-ability to compete with rival.Chapter 7 Arguments on Government Intervention in International

16、Trade 三、Define the following terms 1.genetically modified food. 2.total annual money value of the goods and services produced by a country. 四、Paraphrase the following ,esp.the underlined parts.The reason for supporting protection(of a new industry )is that it can give an industry some time to modern

17、ize its production process and save more resources so that it can compete well with other producers in the same industry,especially those in the industrialized countries.Chapter 8 International Trade Policies 二、Translate the following into English 1.After the founding of the United States of America

18、,A Hamilton ,the first Secretary of Finance,on behalf of the American bourgeoisie wanting to develop American economy independently,expressed the view that for the purpose of bringing about self-reliance for the U.S economy,the main method of protecting its infant industry was to raise import tariff

19、s on imports. 2.After the middle of 1970s there emerged new protectionism in the process of the liberalization of international trade,which is characterized by (1)increasing the number of products for protection;(2)diversifying trade protective measuresunder the pretext of orderly marketing arrangem

20、enttaking gray area measures to go round the basic GATT principles;(3)turning to the systemization of protectionism.Chapter 8 International Trade Policies 三、Paraphrase the following ,esp.theunderlined parts. 1.The purpose of free trade policy is to get rid of all limitations on trade with other nati

21、ons.Governments following this kind of trade policy do not try to prevent/restrict import and export trade at all. 2.Dumping is regarded as a way in which enterprises dispose of their excess products at lower prices in the markets of foreign countries than in the home market.Chapter 8 International

22、Trade Policies 四、Define the following terms 1.The abbreviation of voluntary export restraints ,a kind of non-tariff barriers practised to prevent imports from increasing.Some also define it as arrangements between exporting and importing and importing countries in which the exporting country agrees

23、to limit the quantity of specific exports below a certain level in order to avoid imposition of mandatory restrictions by the importing country.Chapter 9 Regional Economic Integration 二、Translate the following into English 1.Although ASEAN has made some preferential arrangements since its formation

24、in 1976,so far no benefits have been brought about as expected due to too much consideration of each members own interests. 2.Full economic integration is the highest stage of economic integration,at which there is full unification of economic,financial,fiscal policies,etc.among the nations within t

25、he region and abolition of all barriers to the free flow of goods, capital,labor,service,etc.The EU is on the road towards this direction(or moving foward in this direction.)Chapter 9 Regional Economic Integration IV 1、There is a difference between a free trade area and a custom union.The former is

26、politically easy but administratively difficit. 2、Some people believed that one of the negative results of NAFTA is that the US and Canada have tried to benefit themselves from Mexicos lower labor costs and less tough environmental and labor laws.Chapter 12 International Investment and Multinational

27、 Enterprises 二、Translate the following into English 1.By FDI we mean such investment where a countrys investors export production capital,build factories,create subsidiaries and establish distribution network directly in another country. 2.The motives for MNCS FDI can be summarized into the followin

28、g: (1) To make more profit; (2)To enjoy more favorable tax treatment; (3)To avoid trade restriction (4)To grab more market shares overseas; (5)To take advantage of the subsidies given by the government for the purpose of encourgaing FDI; (6)To reduce investment risks.Chapter 12 International Investm

29、ent and Multinational Enterprises 四、Define the following terms 2.to pay interest on a debt or to make interest payments for a debt. 3.share of earnings of a company given to its share holders,expressed as an amount per share on the par value of the share. 6.basic structural foundations of a society

30、including railways ,express ways,airports,harbours.Chapter 14 WTO(1) 1.按照与中国有关的世界贸易组织原则，所有中国有关贸易的法律、条例、行政规则和司法裁决必须及时公布以便政府和贸易人员熟悉它们。导致负担增加的政府措施应在实施前正式发布。这些措施应用“统一、无偏见和合理”的方式加以实施。 2.世界贸易组织规定的新的多边贸易体制于1995年1月1日生效。它取代了关税与贸易总协定。世界贸易组织与关税总协定两者之间的最大区别是世界贸易组织的争端解决机构。该机构作为法院来对争端进行裁定。这就给了世界贸易组织一种关税与贸易总协定所没有过

31、的惩戒性权力。Chapter 14 WTO(1) 四、Define the following terms 1.GSP is the shortened form of generalized system of preference.As a part of code of conduct it was worked out in the 1979 Tokyo Round of GATT and applied to the export of manufactured,semi-manufactured goods and other selected exports from devel

32、oping nations. 2.a clause in a trade agreement agreement between two countries stating each will accord to the other the same treatment as regards tariffs and quotas as they extend to the most favored nation with which each trades. 5.value of one currency in terms of another.Chapter 14 WTO(1) 五、Para

33、phrase the following ,esp.the underlined parts.But ,the WTO will not ask its members to make public those secret information.If doing so it will have negative effect on the carrying out of laws or go against the public interests or do harm to the legal rights of some industries.Chapter 18 Trade Term

34、s 三、Translate the following into English 1.Contracts based on E-terms,F-terms and C-terms are called shipment contracts while contracts sighed according to D-terms are known as arrival contracts. 2.FOB is a trade term often used in international trade. The basic duty of the seller is:to ship the goods onto ship named by the buyer within the contractual time and at the contractual port of shipment;to notify the buyer in good time to the effect that offer the goods have passed the rail of the s