Internationaltrade英语专业专业必修课国际贸易实务英文版课堂笔记整理.docVIP

Chapter 1 Introduction to International trade Questions Answers (terms) International trade (the fair and deliberate exchange of goods and/or services across national boundaries） Trade in goods (the purchase and sale of visible goods:coffee, chemicals, airplanes, textiles, tobacco)Trade in services (the purchase and sale of invisible goods: transportation, insurance, tourism, hotel accommodations, commerce) Self-sufficient (someone who does his own hunting, finds his own shelter, and provides for his own needs) Barter (the trade of goods without any exchange of money) Balance of trade (a nation’s relationship of exports to imports). A favorable balance of trade, or trade surplus, occurs when the value of the country’s exports exceeds that of its imports;An unfavorable balance of trade, or trade deficit, occurs when the value of the country’s imports exceeds that of its exports. Balance of payments [the difference between money coning into a country (from exports) and money going out of the country (for import) plus money flows coming into or leaving a country from other factors such as tourism, foreign aid. BOP=EM-IM+MF]. A favorable balance of payments means more money is flowing into a country than flowing out;An unfavorable balance of payments is when more money is flowing out of a country than coming in. Dumping(the practic of selling products in foreign country at lower prices than those charged in the producing country). Companies use this tactic to reduce surplus products in foreign markets or to gain a foothold in a new market by offering products for lower prices than domestic competitors do. The foundation of international trade and economic activities：In today’s complex economic world, neither individuals nor nations are self-sufficient. Nations have utilized different economic resources; people have developed different skills. Questions Answers (text) What are major reasons of the exchange of goods between nations? First, no nati