国贸Lecture 1 Introduction.pptVIP

- Terms of Trade (1/2) N=Px/Pm, Where Px: exports price index, Pm: imports price index Eg. 1, Base year: 2005 2012: Country A’s Px=90%, Pm=120% Then, N2012=(90%/120%)=0.75 * * - Terms of Trade (2/2) I=(Px/Pm)*export quantity index Eg. 1, Base year: 2005 2012: Country A’s Px=90%, Pm=120%, export quantity index for 2011 is 180% Then, I2012=(90%/120%)*180%=1.35 * * * - Trade Intensity TI=(X+I)/GDP * Exports and Imports as a Percentage of U.S/ National Income * * China‘s Trade Intensity：1990-2012 （%） * * 1.2 Issues in International Trade Why do nations trade? (Differences Imperfect Competition