国际贸易理论与实务Ch.1 Introduction国际贸易理论与实务Ch.1 Introduction.pptVIP

Factors that can affect the balance of trade: The cost of production in the exporting economy relative to those in the importing economy; Exchange rate movements; Multilateral, bilateral and unilateral taxes or restrictions on trade; Non-tariff barriers such as environmental, health or safety standards; The availability of adequate foreign exchange with which to pay for imports, etc. Business cycle: during an economic expansion. In export led growth (such as oil and early industrial goods), the balance of trade will improve With domestic demand led growth (as in the United States and Australia) the trade balance will worsen. A higher savings rate generally corresponds to a trade surplus. China, a high growth economy, has tended to run merchandise trade surpluses. Favorable trade balance for 15 years in succession since 1994. (Table 1-2) The United States has a lower savings rate and has had a growing deficit in tradable goods since the mid-1980s. Especially with Asian nations (China and Japan) which now hold large sums of U.S debt that has funded the consumption of the United States. 3. General trade system and special trade system General trade system: Statistic figures are collected on the basis of economic territory of a country. Economic territory: consists of the geographical territory administered by a government comprising customs warehouses and free trade zones. Special trade system: Statistic figures are collected on the basis of customs territory . Customs territory: The geographic territory upon which a sovereign nation imposes its import and export regulations and duties. Customs warehouses and free trade zones are outside customs territory. 4. Volume of international trade and quantum of international trade Volume of international trade Total value of international trade in merchandise and services. Aggregated value of imports or exp