教学课件·国际贸易专业英语(第四版)1

1、Unit OneInternational Trade TheoriesPre-reading questions:What is international trade about?What are the incentives for countries to engage in international trade?What theories on international trade have you studied?Which theories do you think best explain the nature of international trade?In what

2、way have these theories helped you understand international trade?Mercantilisminternational trade is a zero sum game, i.e. that the benefit which one country gains from international trade means a corresponding detriment to another country. The Absolute Cost Modela country has the lowest production

3、costs and supplies foreign markets, too, as a result. Example: say Turkey and Greece have the same average wage levelThe Comparative Cost ModelThe comparative cost model is based on two countries, two products and one factor of production: labor. Technical know-how or the state of technology is diff

4、erent in the two countries. There are also constant returns to scale and perfect competition. The Heckscher-Ohlin-Samuelson (HOS) ModelThis model was also based on the comparative cost concept and the idea that competitive positions depend on the supply conditions in specific locations and are there

5、fore linked to countries (rather than companies). The Leontief ParadoxEmpirical research conducted by Leontief quite soon after the Second World War showed that the specialization process in the US, for example, did not correspond to what HOS predicted (and this was repeatedly found in later researc

6、h). Where free trade ought to have caused the Americans to concentrate increasingly on producing relatively capital- intensive goods the goods in which the US had a comparative advantage this did not appear to be what happened in practice; the US imported relatively capital- intensive goods instead

7、of exporting them.Factor Intensity ReversalA fundamental criticism of the HOS model was that it assumes that the sectors can be arranged in order of capital-intensity and that this arrangement is universal, i.e. the same in all countries. This does not appear to be so in reality: for example, where

8、the agricultural sector in the industrialized countries often has above average capital-intensity, in the developing countries it is often highly labor-intensive in comparison with other sectors in those countries. Such a phenomenon is known in theory as factor intensity reversal. Modern Trade Theor

9、iesThe new trade theories focused increasingly on the question: what can we say about the business characteristics of exporting companies as opposed to companies which do not or cannot export? The idea is that it is not so much national factors or, if you like, locational factors that explain in whi

10、ch goods a strong competitive position can be developed, but rather factors relating to specific sectors or companies. Another important difference in relation to traditional trade theories is that modern trade theories abandon the assumption of constant returns to scale and replace it with the conc

11、ept of economies of scale in production. For example, this may mean that as a company produces on a larger scale, average costs fall (internal economies of scale), but also that costs will decline if numerous other businesses are established in the vicinity (external economies of scale), or both. Ke

12、y Terms interest rateThe fee charged by a lender to a borrower for the use of borrowed money, usually expressed as an annual percentage of the principal; the rate is dependent upon the time value of money, the credit risk of the borrower and the inflation rate. Interest rates can be calculated as si

13、mple, compounded or effective.division of laborThe increasing specialization of occupations and specific tasks within occupations. The Division of Labor becomes more evident with increasing industrialism and modernity in societies.absolute advantageTerm coined, and theory developed by Adam Smith in

14、The Wealth of Nations (1776). If country A can produce and export more of a commodity X at a cheaper cost or more efficiently the country B, then country A has an absolute advantage in producing X over country B.free tradeFree trade exists when the international exchange of goods is neither restrict

15、ed nor encouraged by government-imposed trade barriers. Subsequently, the determination of the distribution and level of international trade is left to the operation of market forcescomparative advantage The theory of comparative advantage is a key idea in classical Liberal economic theory put forwa

16、rd by David Ricardo. It posits that if all countries specialize in producing what that are comparatively best at - i.e. what they are most efficient at producing - and then trade freely with one another, then the world will be better off economically. opportunity costThe cost of using a resource in

17、one enterprise when it could be used in alternative enterprises or investment opportunities measured by the return that could be obtained from using the resource in the alternative in investment. For example, if cash used in crop production could be placed in the bank at a 10% rate of interest， the

18、opportunity cost of cash to the crop would be 10%.general equilibriumThe condition reached when all markets (for products and productive factors) have cleared, that is, established equilibrium prices and quantities.factor of productionA human service or material good that can be used to contribute t

19、o the success of a process of production. A constituent element of any production process. Factors of production can be classified as to (1) human (labor) or nonhuman (material) factors, or (2) original or produced factors. economy of scalethe reduction in costs per item (unit costs) that results fr

20、om large-scale production. The high capital costs of machinery or a factory are spread across a greater number of units as more are produced. This may be a result of automation or mass production; for example, in the car industry. Economies of scale can also be produced when firms that need similar

21、services locate together, sharing the costs of their services; for example, on industrial estates.factor intensityThe relative importance of one factor versus others in production in an industry, usually compared across industries. Most commonly defined in by ratios of factor quantities employed at

22、common factor prices, but sometimes by factor shares or by marginal rates of substitution between factors.factor intensity reversalA property of the technologies for two industries such that their ordering of relative factor intensities is different at different factor prices. For example, one indus

23、try may be relatively capital intensive compared to the other at high relative wages and labor intensive at low relative wages. Some propositions of the Heckscher-Ohlin Model require the absence of FIRs.Post-Reading ActivitiesI.Answer the following questions based on what you have already read in th

24、e text.1. On what grounds did Hume, Smith and Ricardo criticize the conception of Mercantilism? Do you agree with them?2. According to David Smith, nations should allow free trade and abolish government intervention, would you agree with him? 3. In what aspect is HOS model different from the Ricardo

25、 model?4. What problem is the Leontief Paradox about?5. What is the fundamental criticism of the HOS model?6. What problems do modern international trade theories deal with?V. Translate the following passage into Chinese.1. Economic globalization is a historical process, the result of human innovati

26、on and technological progress. It refers to the increasing integration of economies around the world, particularly through trade and financial flows. The term sometimes also refers to the movement of people (labor) and knowledge (technology) across international borders. There are also broader cultu

27、ral, political and environmental dimensions of globalization that are not covered here.2. At its most basic, there is nothing mysterious about globalization. The term has come into common usage since the 1980s, reflecting technological advances that have made it easier and quicker to complete intern

28、ational transactionsboth trade and financial flows. It refers to an extension beyond national borders of the same market forces that have operated for centuries at all levels of human economic activityvillage markets, urban industries, or financial centers. VI. Translate the following sentences into

29、 English with the words or phrases given.1. 通过国际贸易，可以使消费者和贸易国获取本国没有的商品和服务。（get access to/be exposed to ）2. 通过国际贸易，富裕国家可以更高效地使用其劳动力、技术或资本等资源。（allow/enable）3. 与当地企业不同，跨国企业都是在全球范围内从事经营活动。（as opposed to）4. 近年来，中国的对外贸易呈现高速、稳定的增长。（register）5. 在全球化的市场条件下，企业面临着与国内外企业的激烈的竞争。（given）. Speaking Activities: Oral

30、 presentationForm groups of three or four and prepare jointly for the oral presentation topic below. Then vote for a representative in a group to make an 8 15-minute presentation before the whole class:During the last decades, the patterns of international trade have undergone substantial changes. T

31、he new developments include integration of countries into trading blocs (European Union, NAFTA, etc.) and globalization. While economic integration and globalization have brought about increased trade volumes among nations, they have also made the world market more volatile than ever before. What se

32、nsible measures are necessary for counteracting the volatility?Unit TwoThe Goals and Instruments of International Trade PolicyPre-reading QuestionsDo you have any idea about what a trade policy is?What are the possible objectives in formulating a international trade policy?What instruments could be

33、used to realized the goals of the international trade policy?What trade policies has China adopted?Are free trade policies the best for each nation in the world?AutarkyAt one extreme is the objective of autarky or natural self-sufficiency. Economic WelfareAt the opposite extreme to autarky lie the g

34、oal of economic welfare that springs from the conception of international trade and investment as a opportunity to reap the benefits of international specialization. Protectionism the protection of domestic producers against the free competition of imports by regulating their volume through tariffs,

35、 quotas and the like.Stable Levels of EmploymentContemporary governments try to restrain inflation while at the same time sustaining employment, although they are commonly frustrated by conflicts between the policies needed to achieve these goals. Balance of PaymentsSooner or later, all nations are

36、compelled to remedy deficits in their balance of payments, whether through market adjustments or controls. When a nations reserve are low and its balance of payments is weak, the objective of payments equilibrium may come to dominate other objectives of its foreign economic policy and even of its do

37、mestic policy. Economic Developmenttariffs and other restrictive devices are employed to protect “infant industries” or to keep out “nonessential” consumer goods. On the other hand, capital goods and other “essential” imports are encouraged by subsidies or favorable exchange quotas. Exports may also

38、 be regulated in an attempt to promote economic development.Agreements and TreatiesMuch of the foreign economic policy of a nation is effected through agreements and treaties with other nations. For the most part, the legal rights that individuals and business enterprises enjoy in the foreign countr

39、y are those spelled out in treaties and agreements previously negotiated by their own governments. Trade and Investment PoliciesTrade policy refers to all government actions that seek to alter current account transactions, especially trade in merchandise. Historically, the main instrument of trade p

40、olicy has been the import tariff, but today non-tariff barriers and export promotion are often of equal or greater importance.Foreign Aid Policy Foreign aid policy includes all of the activities involved in the field of governmental loans and grants that are intended to aid in the reconstruction, ec

41、onomic development, or military defense of recipient countries.Balance of Payments PolicyBalance of payments policy embraces all of the actions of government to maintain or restore equilibrium in their external accounts. In the face of an enduring, fundamental disequilibrium, governments generally r

42、espond to a deficit (surplus) by (1) deflating (inflating) the domestic economy with monetary and fiscal instruments, (2) devaluing (revaluing) the exchange rate, or (3) imposing exchange controls over some or all international transactions. Key termsinflationA persistent increase in the level of co

43、nsumer prices or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services.infant industryA newly established domestic industry that is less productive than foreign producers. One of two conditi

44、ons needed for infant industry protection to be welfare-improving, according to Mill, is that the protected industry will become, over time, able to compete internationally without protection.Another condition, according to Bastable, is that the protected industry be able to pay back an amount equal

45、 to the national losses during the period of protection. national treatmentNational treatment is a fundamental principle of the trading system. It requires that imports be afforded no less favorable treatment than domestic goods once border measures have been applied. It is important not to confuse

46、this with the MFN principle.non-tariff barriersAny restriction, charge, or policy other than a tariff, that limits access of imported goods. Examples of non-tariff barriers include quantitative restrictions, mainly import quotas and embargoes; import licenses; exchange controls; some practices of st

47、ate trading enterprises; and certain rules and regulations on health, safety, and sanitation.most-favored-nation treatmentPrinciple relating to a commercial treaty where two nations agree to accord each other the same favorable terms that would be offered in treaties with any other nationcurrent acc

48、ountA category in the balance of payments account that includes all transactions that either contribute to national income or involve the spending of national income.portfolio investmentrefers to the purchase of foreign stocks, bonds or other securities. In contrast to FDI, foreign portfolio investo

49、rs have no controlling interest in the investment, which is typically a short-term one. The relative ease with which portfolio investment can enter and exit countries has been a major contributing factor to the increasing volatility and instability of the global financial system.multinational compan

50、yA corporation that operates in two or more countries. Since it is headquartered in only one country but has production or marketing facilities in others, it is the result of previous FDI.Post-Reading Activities I.Answer the following questions based on what you have already read in the text.1. What

51、 is meant by the autarky policy in foreign trade?2. Why is it sometimes difficult to identify a specific foreign trade policy as protectionist?3. In what way do international trade and capital investment influence the employment situation of an economy?4. Why do foreign trade policies always include

52、 political considerations?5. Should economic development be the top priority for developing countries in formulating their foreign trade policies?6. What are the foreign trade policy instruments mentioned in the article?7. What are the specific measures that can be taken under these policy instrumen

53、ts?V. Translate the following sentences into English with the words or phrases given.1. 进口政策的目的在于获得发展中国经济所需要的具有现代技术的资本货物。（be directed at）2. 很多经济学家认为，自由贸易能推动经济增长和提高生活水平。（argue）3. 发达的工业化国家仍居国际贸易的主导地位，其贸易额占世界贸易总量的一半以上。（account for）4. 自从实行改革开放政策以后，特别是加入世界贸易组织以后，中国的对外贸易取得了引人注目的增长。（achieve）5. 经济学家一直在研究由于国

54、际商务的扩展所引起的各种理论和实际问题。（engage in）VI. Translate the following passage into Chinese.U.S. foreign trade and global economic policies have changed direction dramatically during the more than two centuries that the United States has been a country. In the early days of the nations history, government and b

55、usiness mostly concentrated on developing the domestic economy irrespective of what went on abroad. But since the Great Depression of the 1930s and World War II, the country generally has sought to reduce trade barriers and coordinate the world economic system. This commitment to free trade has both

56、 economic and political roots; the United States increasingly has come to see open trade as a means not only of advancing its own economic interests but also as a key to building peaceful relations among nations.VII.Speaking activities: Oral presentationForm groups of three or four and prepare joint

57、ly for the oral presentation topic below. Then vote for a representative in a group to make a 8 15-minute presentation before the whole class:There are a variety of goals of international trade policies （national security, stable employment, balance of payments considerations, economic development,

58、etc.）, and these goals could not be all on the top of the agenda at the same time when international trade policies are formulated. How would government make their choices among these goals? What suggestions would you make for Chinas foreign trade policy? Unit ThreeModes of International BusinessPre

59、-reading QuestionsIn what way can a firm engage in international business?What is the easiest way for a firm to do international business?What risks do international business involve?What is the least risky way to do international business?To your knowledge, what is the most common modes Chinese fir

60、ms adopt in doing international business?Exporting and importingMost firms enter international business through exports, for it is the simplest and least risky way.Licensing and franchising Technology licensing is a contractual arrangement in which the licensers patents, trademarks, service marks, c