东北财经大学商务英语第一单元课件.ppt

International Business Topics  Unit 1 International Trade Theories Goals of the Unit 1. Identify theories of international trade 2. Understand the implications of the theories to businesses. Warming up questions 1. Why do we learn trade theories, and how many do you know? 2. How do they explain or affect the pattern of world trade? 3. What benefits can we get by learning these theories? What do trade theories tell us? Benefits of international trade theories show why countries should trade for products/ services even when they can produce them domestically Patterns of international trade theories show why countries specialize the way they do Role of the government theories help articulate the role of government policy An overview of trade theory development Early thinking: Mercantilism Adam Smith: The theory of absolute advantage, 1776 Ricardo: The theory of comparative advantage, 1817 Heckscher-Olin theory: 20th century An overview of trade theory Development(continued) Product Life cycle effects “New” trade theory Porter’s diamond: national competitive advantage 1.Mercantilism (mid-16th – 17th )重商主义 Basic theme: encourage exports, discourage imports (gold/silver as national wealth) Fundamental weakness: Trade is seen as a zero-sum game (a gain by one country results in a loss by another) Government intervention by tariffs quotas Although discredited as a theory, mercantilist thinking is still very much alive – so called neo-mercantilism: Instruments of Trade Policy Tariffs Subsidies Import quotas (and “voluntary” export restraints Local content requirements Administrative trade policies (bureaucratic hurdles) David Hume (1752) critique on mercantilism ?Long-run surplus is impossible If England had a trade surplus with France, 2.Absolute Advantage Adam Smith (1776)attacked mercantilism: Countries differ in production efficiency, climate, soil, accumulated expertise, thus absolute advantage Countries specialize in the pr