自考-国际商务英语(重要资料)

International Business English

Lesson 1

International Business/国际商务

Business Knowledge:

The major differences between international business and domestic business

A.Differences in legal systems 法律体系

B.Differences in currencies 货币

C.Differences in cultural background

D.Different in natural and economic conditions

The major types of international business

A. Trade

https://www.360docs.net/doc/44457819.html,modity trade 商品贸易

b.Service trade

B. Investment

a.Foreign direct investment

b.Portfolio investment 证券投资

C. Other types

a.Licensing and franchising 许可经营和特许经营

b.Management contract and contract manufacturing 管理合同和承包生产

c.Turnkey project and BOT

Trade Terms:

1.Customs area关税区:

2.Conversion货币兑换

3.Visible trade有形贸易: The form of commodity trade, i.e. exporting and importing goods

produced or manufactured in one country for consumption or resale in another. (including cash transaction-by means of money and market, and counter trade)

4.Invisible trade无形贸易: The form of transportation, communication, banking, insurance,

consulting, information etc. is called invisible trade or service industries.

5.FDI外国直接投资: Foreign direct investments. Returns through controlling the enterprises or

assets invested in a host country. / P.256. One country acquires assets in a foreign country for the purpose of controlling and managing them.

6.Portfolio investment证券投资: Purchases of foreign financial assets for a purpose other than

controlling.

7.Stocks股票: Capital stocks or bonds.

8.Bonds债券: The papers issued by a government or a firm with promise to pay back the money

lent or invested together with interest.

9.Maturity（票据等）到期

10.Certificate of deposit大额存单

11.Licensing许可经营: In licensing, a firm leases the right to use its intellectual property to a firm

in another country. They choose licensing because they do not have to make cash payments to stat business, and can simply receive income in the form of royalty（许可费）.

12.Franchising特许经营: Under franchising, franchisee is allowed to operate in the name of

another, franchiser who provides the former with trademarks, brand names, logos and operating techniques for royalty.

13.Trade Mark商标

14.Patent专利

15.Royalty专利（许可）使用费，版税

16.Copyright版权

17.Licenser许可方

18.Licensee被许可方

19.Franchiser特许方: A firm who provides the franchisee with trademarks, brand names, logos

and operating techniques for royalty.

20.Franchisee被特许方: A firm is allowed to operate in the name of another.

21.Management contract管理合同:Under a management contract, one company offers

managerial or other specialized services to another within a particular period for a flat payment or a percentage of the relevant business volume.

22.V alue chain价值链

23.Turnkey project“交钥匙”工程: For an international turnkey project, a firm signs a contract

with a foreign purchaser and undertakes all the designing, contracting and facility equipping before handing it over to the latter upon completion.

24.BOT建设、经营和移交: Build, Operate, Transfer

25.Expertise专门知识

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26.Bonus红利、奖金、津贴

27.Royalty 许可使用费

28.International investment国际投资: Supplying capital by residents of one country to another.

29.Contract manufacturing承包生产

30.GA TT关贸总协定: General Agreement on Tariffs and Trade

31.International business国际商务: Transaction between parties from different countries.

Sometimes business across the borders of different customs areas of the same country is also regarded as import and export.

32.Intellectual property知识产权

33.Oil deposit: 石油储备= oil reserves

34.the reserves of natural resources 自然资源储备

35.Personal advancement个人的晋升，个人素质的提高以及个人事业的进步等。

Answer the following questions:

1.What does international business refer to? Please tell the difference between international

business and domestic business.

A: International business refers to transaction between parties from different countries. Sometimes business across the borders of different customs areas of the same country is also regarded as import and export.

Some major differences between international business and domestic business is following:

(1)Differences in legal systems

(2)Differences in currencies

(3)Differences in cultural background

(4)Different in natural and economic conditions

2.Please explain the differences between visible trade and invisible trade. Which is becoming

more and more important and accounts for an increasing proportion in international trade?

A: V isible trade is the form of commodity trade. The form of transportation, communication, banking, insurance, consulting, information etc. is called invisible trade or service industries. The later is become more and more important.

3.Can you cite some examples to illustrate cultural differences in international business? A: Cultural differences including language, customs, traditions, religion, value, behavior etc.

4.Please elaborate（详细说明）on the two categories （种类）of international investment.

What is their major difference?

A:FDI (Foreign direct investment) is made for returns through controlling the enterprises or assets invested in in a host country.

/ 外国直接投资：通过控制其它投资在他国的企业和资产获得回报。

Portfolio investment refers to purchases of foreign financial assets for a purpose other than controlling. Such financial assets may be stocks, bonds or certificates of deposit.

/ 证券投资：不以控制为目的而购买外国的金融资产，如：股票、债券和定期存款单。

5.What is licensing? Why do firms sometimes choose it as a means of entering a foreign

market?

A: In licensing, a firm leases the right to use its intellectual property to a firm in another country.

/ 国际许可即：一家公司允许国外的公司使用它的知识产权。

They choose licensing because they do not have to make cash payments to stat business, and can simply receive income in the form of royalty. 可直接收取知识产权费，不必现金开办新业务Besides, they can benefit from locational advantages of foreign operation without any obligations in ownership or management. 享有当地经营优势，而在所有权和经营上不承担义务The use of licensing is particularly encouraged by high customs duty and non-tariff barriers on the part of the host country. 当东道国的关税高或非关税壁垒多时，国际许可经营更受欢迎。

6.What is franchising? How is it different from licensing?

A: Under franchising, franchisee is allowed to operate in the name of another, franchiser who provides the former with trademarks, brand names, logos and operating techniques for royalty.

/ 在特许经营情况下，特许使用方以特许授予方的名义开展业务，后者向前者提供商标、品牌、公司经营技巧等而获取特许使用费。

In comparison with the relation between the licenser and the licensee, the franchiser has more control over and provides more support for the franchisee.

7.What is a management contract? Under what conditions is it most applicable?

A: Under a management contract, one company offers managerial or other specialized services （管理或其它专门服务）to another within a particular period for a flat payment or a percentage of the relevant business volume（相关业务总价值的百分比）. When a government forbids foreign

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ownership in certain industries it considers to be of strategic importance but lacks the exp ertise for operation, management contracts maybe a practical choice enabling a foreign company to operate in the industry without owning the assets.

8.What is an international turnkey project? In what way is its variant BOT different from

it?

A: For an international turnkey project, a firm signs a contract with a foreign purchaser （外国买方）and undertakes all the designing, contracting and facility equipping（装配设备）before handing it over to the latter upon completion. For a BOT project, a firm operates a facility for a period of time after building it up before finally transferring it to a foreign company. Making profit from operating the project for a period is the major difference between BOT and the common turnkey project

Translate the following sentences into English:

1.国际贸易一般指不同国家的当事人进行的交易，它涉及到许多因素，因而比国内贸易要复杂得多。

International business refers to transaction between parties form different countries. It involves more factors and thus is more complicated the domestic business.

2.随着经济一体化进程的发展，很少人和公司能完全独立于国际商务之外而存在。因此，在此方面具有一定的知识是十分必要的，这既有益于企业的发展又有益于个人的进步。

With the development of economic globalization, few people or companies can completely stay away from international business. Therefore, some knowledge in this respect is necessary both for the benefit of enterprises and personal advancement.

3.其他参与国际贸易的形式有管理合同、承包生产和“交钥匙”工程。

Other forms for participating in international business are management contract, contract manufacturing and turnkey project.

4.国际贸易最初以商品贸易的形式出现，即在一国生产或制造商品而出口或进口到另一国进行消费或转售。

International business first took the form of commodity trade, i.e. exporting and importing goods

produced or manufactured in one country for consumption or resale in another.

5.除了国际贸易和投资，国际许可和特许经营有时也是进入国外市场的一种方式。

Besides trade and investment, international licensing and franchising are sometimes taken as a means of entering a foreign market.

Lesson 2

Income Level and the W orld Market / 收入水平和世界市场Business Knowledge:

(1)GNP and GDP

(2)Per capita income and per capita GDP

(3)High-income, middle income and low-income countries

A.Standards for classification

B.Representative countries

(4)Triad and Quad

A.United States

B.Western Europe西欧

C.Japan

D.Canada

(5) Other important markets for China

Trade Terms:

1.GNP国民生产总值: Gross national Product. The market value of goods and services produced

by the property and labor owned by the residents of an economy.

/ 一个经济体凭借其居民拥有的资产和劳动力所生产的货物和服务的市场价值。

2.GDP国内生产总值: Gross Domestic Product. The market value of all goods and services

produced within the geographic area of an economy.

/一个经济体地理区域内所生产的所有实物产品和服务的价值。

3.National income国民收入

4.Per capita income人均收入

5.Per capita GDP人均国内生产总值: It is calculated by dividing its total GDP by its population,

which reveals the average income level of consumers.

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6.PPP购买力平价: Purchasing power parity

7.Consumerism消费主义

8.Income distribution收入分布: The proportions （比例）of its rich, middle income and poor

people.

9.Infra structure基础设施

10.Staple goods大路货

11.Invoice （开）发票

12.Creditor country债权国

13.OECD经合组织，经济合作与开发组织: Organization for Economic Cooperation and Development.

14.The Commonwealth of Independent States 独联体，独立国家联合体

15.ASEAN 东盟，东南亚国家联盟: Association of Southeast Asian Nationals.

16.NIEs（亚洲四小虎）: Newly Industrialized Economies

17.Factors of production生产要素

Answer the following questions:

1. Explain the concepts of GNP and GDP respectively and point out their major difference. Can we use them interchangeably?

A: GNP (Gross national Product) refers to the market value of goods and services produced by the property and labor owned by the residents of an economy. GDP (Gross Domestic Product) measures the market value of all goods and services produced within the geographic area of an economy. The difference between them is that GNP focuses on ownership of the factors of production while GDP concentrates on the place where production takes place. The difference between GNP and GDP can be ignored since it very small in most cases. Therefore, we can use them interchangeably.

2. In what different ways are GDP and per capita income significant in assessing the potential of a particular market?

A: Total GDP indicates the overall size of an economy, which is important in market assessment for durable equipment or bulk goods (grain, steel or cement). Per capita GDP reveals the average income level of consumers, which is important when marketing consumer durables.

3. What are meant by high income, middle income, and low-income countries according to the W orld Bank? Cite some examples for each group.

A:High-income countries: those enjoying annual per capita income of $9386 and above. In this group comprise three types of countries; most members of OECD, rich oil producing countries of the Middle East, small-industrialized countries or regions.

/ 包括经合组织的大多数成员国、中东石油生产国、工业发达的小国和地区。

Middle-income countries: those with annual per capita income below $9386 but above $765.

Included in this category is most East European countries and most members of the Commonwealth of Independent States, six OECD members, quite a number of Latin American countries and some comparatively developed countries in Asia, South Africa and oil-producing countries in African.

/ 东欧的大多数国家、大多数独联体国家、经合组织的留个成员国、相当数量的拉美国家。

Low-income countries: those that have per capita incomes of only $765 or even less. Most African countries, some Asian countries and a few Latin American countries are included in this group.

4. Why are high-income countries important to trade and investment? Should we neglect

low-income countries in international business?

A: High-income countries often have good infrastructure（基础设施）, high purchasing power, and advanced technology, efficient management（有效管理）and favorable environment for trade and investment.

They offer prime markets for expensive consumer goods and are both attractive sources and destinations of investment. 是高档消费品的主要市场，在吸引外资/对外投资都处于有利地位。

In international trade the low-income countries should not be neglected, because they constitute markets for lower-priced staple goods(价格低的大宗商品), provide cheap labor and are often rich in resources. Once tapped, the business potential of these countries will one day become real business opportunities. / 一经开发，商业潜力有一天会成为实际的商业机会

5.W as China a low-income country a few years ago? How about now?

A:China with a per capita income of over $1100 is a middle-income country though it was a low-income country just a few years ago.

6.What does the term “Triad” refers to（三方组合）? What is meant by Quad（四方组合）?

A: The term Triad refers to the three richest regions of the world; the United States, the European

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Union and Japan that offer the most important business opportunities. The scope of Triad to include Canada and name the broadened grouping Quad.

7. How much do you know about OECD? Please make a brief account.

A:OECD means Organization for Economic Cooperation and Development. The organization is included 29 members, 23 of them are high-income countries and 6 are middle-income countries. The headquarters is in Paris.

8. What is the best policy for China to develop business opportunities?

A: So far as China is concerned, other markets we should pay particular attention to are those around us（应特别关注的其它市场还有周边地区，如）: the Four Tigers（亚洲四小虎）, the ASEAN countries, Russia, India and a bit farther away Australia. These countries or regions either have rich consumers and offer good business opportunities or are developing fast with very promising market potential. And their geographical proximity （地理上接近）to China is a great advantage for us in developing business relations with them.

Translate the following sentences into English:

1. 民生产总值和国内生产总值是表明一国收入的两个重要概念。区别在于前者强调的是生产要素的所属权而后者着重于进行生产的国家。

GNP and GDP are two important concepts used to indicate a country’s total income. The difference between them is that the former focuses on ownership of the factors of production while the latter concentrates on the country where production takes place.

2. 要评估某一市场的潜力，人们往往要分析其收入水平，因为它为那里居民的购买力高低提供了线索。

In assessing the potential of a country as a market, people often look at per capita income since it provides clues about the purchasing power of its residents..

3. 世界各国被世界银行分为三大领域：高收入国家，中等收入国家和低收入国家。Countries of the world are divided by the World Bank into three categories of high-income, middle-income and low-income economies.

4. 中国现在年人均收入为1100美元以上，但几年前它还是个低收入国家。

China with a per capita income of over $1100 is a middle-income country though it was a low-income country just a few years ago.

5. 就中国来说，周围还有其他应特别关注的市场，如亚洲四小虎、东盟国家、俄罗斯等国，

这些国家都具有前景看好的市场潜力，能为中国提供很好的商机。

As far as China is concerned, other markets we should pay particular attention to are those around us: the Four Tigers, the ASEAN countries, Russia, etc. These countries with very promising market potential and can offer good business opportunities to China.

Lesson 3

Regional Economic Integration / 地区经济一体化

Business Knowledge:

(1) Major objectives of regional integration *

(2) For levels of regional economic integration

A.Free trade area

B.Customs union

https://www.360docs.net/doc/44457819.html,mon market

D.Economic union

(3) European Union (EU)

(4) Asia-Pacific Economic Cooperation (APEC)

(5) Organization of Petroleum Exporting Countries (OPEC)

Trade Terms:

1.Economic integration经济一体化

2.Free trade area自由贸易区: The members remove barriers to trade among themselves while

still adopts each own external policy. /自由贸易区扫除了成员间商品、服务自由流动的障碍。

3.Customs union关税同盟: The members remove barriers to trade among themselves and adopt

the same external policy./除消除成员间的贸易壁垒外，所有成员对外实行相同的贸易政策。

4.Tariff rates关税税率

5.Settlement

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6.NAFTA北美自由贸易协定: North American Free Trade Agreement

https://www.360docs.net/doc/44457819.html,mon market共同市场: The members remove barriers not only to trade but also to factors

of production and adopt the same external policy.

8.Banknotes circulation货币流通

9.Cartel卡塔尔

10.APEC亚太经合组织，亚洲太平洋经济合作组织: Asia Pacific Economic Cooperation

11.OPEC石油输出国组织: Organization of Petroleum Exporting Countries

12.European Commission欧盟委员会

13.Council of ministers部长理事会

14.Dual-Ministerial Meeting双部长会议

15.Quota Restrictions配额限制

16.Economic Union (EU)经济同盟: The members remove barriers not only to trade but also to

factors of production, adopt the same external policy and harmonize their taxation, government expenditure, industry policies and use the same currency.

17.EU欧盟，欧洲联盟: European Union

18.EC欧共体，欧洲共同体: European Community

19.Benelux荷比卢（比利时、荷兰和卢森堡三国）:Belgium, Netherlands, Luxemburg

20.Mercousur南方共同市场: Southern Cone Customs Union

21.ECSC欧洲煤钢共同体: European Coal and Steel Community

22.EEC欧洲经济共同体: European Economic Community

23.EURA TOM欧洲原子能共同体，欧洲原子能联营: European Atomic Energy Community

24.SOM高官会议: Senior Officials Meeting

25.TILF贸易投资便利化自由化: Trade and investment liberation and facilitation

26.ECOTECH经济技术合作: Economic and technical cooperation

27.Political entity政治实体

28.Sovereign state主权国家

29.Multi-polarization多极化

30.Sub-committee分委员会

31.NTA新跨大西洋议程: New Transatlantic Agenda

32.TABD跨大西洋商业对话: Transatlantic Business Dialogue

33.TACD跨大西洋消费者对话: Transatlantic Consumer Dialogue

34.Territory economies区域经济体

35.Pacific Rim环太平洋圈

https://www.360docs.net/doc/44457819.html,rmal Meeting of Economic Leaders领导人非正式会议

Answer the following questions:

1.What is a free trade area? Make a brief account of the most notable free trade area in the

world.

A: Free trade area is the loosest form in the regional economic integration（经济一体化程度最低）.

Members in this form removes barriers to the flow of goods and services among themselves while each member still adopts its own policy as regards to trade with outsiders. The most notable one is the North American Free Trade Agreement (NAFTA), the largest free market formed by the United States, Canada and Mexico in 1991 with over 360 million consumers and total GDP of more than 6 trillion US dollars.

2.In what way is a customs union different from a free trade area?

A: The Customs Union goes a step further by adopting the same trade policy for all the members toward countries outside their organization in addition to abolishing trade barriers among themselves.

Imports from other countries are subject to the same tariff.

3.What are the characteristics of a common market? Which organization remained a

common market for some years in the past?

A:The common market is further up the scale of regional economic integration. Besides free movement of goods and services and adoption of common external trade policy, factors of production such as labor, capital and technology are free to move among members so that they can be utilized in a more efficient and productive way. In the past, the European Community remained a common market for some years.

4.How much do you know about an economic union? Can members of an economic union

keep all of their national sovereignty?

A:The economic union is the highest form of economic integration, which is characterized by integration of the domestic policies of its members in respect of （在…方面）economy, finance etc.

in addition to absence of trade barriers, practice of common external policy and free production

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factor mobility.

The members of an Economic Union are required not only to harmonize（保持一致）their taxation, government expenditure, industry policies, etc., but also use the same currency.

The member are required to surrender some of their national sovereignty, which is eroding the tradition of the world political system based on the autonomy and supreme power of sovereign states.

5.Make a brief account of the origin and development of the EU（European Union）.

A: The first community, the European Coal and Steel Community (ECSC) was established in 1952, which set the stage for more ambitious integration efforts.

The signing of the monumental Treaty of Rome in 1957 marks the establishment of the European Economic Community with the aim of gradually realizing the free movement of goods, services, labor and capital as well as the harmonization of economic policies of the member countries.

Ten years later in 1967, the European Community was formed by merging EEC, ECSC and European Atomic Energy Community (EURA TOM).

1992 it became a true common market as envisaged by the Single European Act. Then on January 1, 1994 the European Union (EU) came into being on the strength of the Maastricht Treaty. From the beginning of 1999 most of the members began to use the common European currency for accounting and settlement and in 2002, euro banknotes and coins were put into circulation.

6.What is the most powerful institution of the EU? What is the executive body of the EU?

How does it operate?

A: The most powerful institution of the EU is the Council of Ministers.

Its executive body is the European Commission composed of 20 commissioners overseeing 23 departments in charge of different affairs.

Decisions of the council are made by votes allocated to member countries on the basis of their size. Different ministers attend the council meeting depending on the matters discussed. The council even has the power to pass legislation.

7.Explain briefly the five layer organizational structure of Asia-Pacific Economic

Cooperation.

A: a. the Informal Meeting of Economic leaders

b. Dual-Ministerial Meeting

c. Ministers Responsible for Trade

d. The Senior Officials Meeting (SOM)

e. Subordinate committees under SOM: Committee of Trade and Investment, Economic

Committee, Economic and Technical Cooperation Sub-committee of SOM and Budget Management Committee.

8.What are the tenet and objectives of APEC? What do its two wheels mean?

A: The tenet and objectives of APEC are inter-dependence, mutual benefits, adhering to an open and multilateral trading system and reduction of regional trade barriers.

Its two wheels mean trade and investment liberation and facilitation (TILF) and economic and technical cooperation (ECOTECH).

9.What are the nature and objectives of OPEC?

A: OPEC is a commodity cartel. It tried to limit the overall crude oil supply of the world for the purpose of maintaining higher oil prices.

Translate the following sentences into English:

1.过去的几十年，地区经济一体化越来越重要。

The past decades witnessed increasingly growing importance of regional economic integration.

2.最著名的自由贸易区是北美自由贸易区，它是由美国、加拿大和墨西哥于1991年建立的。

The most notable free trade area is the North American Free Trade Agreement (NAFTA), the largest free market formed by the United States, Canada and Mexico in 1991.

3.经济联盟成员国不仅要在税收、政府开支、企业策略等方面保持一致，而且还应使用同

一货币。

The members of an Economic Union are required not only to harmonize their taxation, government expenditure, industry polices, etc., but also use the same currency.

4.欧洲委员会是欧盟的管理机构之一，此机构将提议呈交给部长理事会做决定，并监督各

成员国根据所制定的条约履行自己的义务。

The European Commission is one of the governing organs of the European Union. It is the body that puts proposals to the Council of Minister for decision and sees that the members carry out their

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duties under the treaty.

5.APEC建立于在澳大利亚首都堪培拉召开的一次部长级会议上。当时有12位成员国出席，

分别为澳大利亚、美国、加拿大、日本、新西兰和东盟六国。

APEC was set up at the Ministerial Meeting held in the Australian capital Canberra attended by 12 members of Australia, the United States, Canada, Japan, Republic of Korea, New Zealand and six ASEAN countries.

Lesson 4

Economic Globalization / 经济全球化

Business Knowledge:

(1)Economic globalization as an objective trend

A.Basic feature *

B.Advantages and negative impacts

(2)Multinational corporations

https://www.360docs.net/doc/44457819.html,anization- parent and affiliates

B.Characteristics

a.Enormous in size

b.Wide geographical spread

c.Longevity and rapid growth

C.Need, goals and roles

a.Profit

b.Security

c.As vehicles for cross-border transfer resources

D.Four types

a.Multi-domestic corporation

b.Global corporation

c.Transnational corporation

d.World company

Trade Terms:

1.Share holders股东

2.Economic globalization经济全球化

3.Board of directors董事会

4.Inputs投入

5.Economic environment经济环境

6.Parent MNC headquarter跨国公司母公司，总部

7.Affiliate MNC子公司，分支机构，附属机构

8.Branch company分公司

9.Subsidiary company子公司

10.Day-to-day running日常管理

11.MNC跨国公司=TNC: Multinational corporation, are made up of vast numbers of foreign

subsidiaries, companies in which over 50 percent is owned by the parent company.

12.Home country母国: The country where the headquarter of the investor is located.

…母公司所在地：The country where the parent company of a MNE locates.

13.Host country东道国: The host country is a foreign country where the investor operates.

…东道国：The country where an affliliate MNC locates.

14.MNE跨国企业: Multinational enterprise: A typical multinational enterprise shall be defined as

a business organization which owns (whether wholly or partly), controls and manages assets,

often including productive resources, in more than one country, through its member companies incorporated separately in each of these countries. Each member company is known as a multinational corporation.

15.Economies of scale规模经济

16.Increase and growth数量的增多和规模的增大

17.Revenue adjusted for inflation（除去通货膨胀后的）实际收入

Answer the following questions:

1. What are the basic feature and major role of economic globalization?

A:The basic feature of economic globalization is to free flow of commodity, capital（资本）, technology, service, and information in the global context for optimized allocation（以求最优配置）.

2.Mention some of the pros and cons of economic globalization. What is the right attitude

towards it? (有利和不利方面)

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A: The pros is that with the basic feature of free flow of commodity, capital, technology, service, and information in the global context for optimized allocation, economic globalization is giving new impetus and providing opportunities to world economic development and meanwhile making the various economies more and more interdependent. While the cons of economic globalization is different countries and peoples do not enjoy balanced benefits.

The right attitude towards it is follow the trend closely, availing the opportunities it offers to develop ourselves and avoiding its possible impacts.

3.What is the formal definition of a multinational enterprise（MNE：跨国公司）? How can

you tell whether a multinational corporation is a parent or just an affiliate?

A: A multinational enterprise shall be defined as a business organization that owns (whether wholly or partly), controls and manages assets in more than one country.

If the MNC is the original investing corporation, it is known as the parent MNC, which is normally also the international headquarters of the MNE. If the MNC is established as a result of investments by the MNE, whether through the parent or through another of its already established MNC, it is an affiliate MNC.

4.Describe briefly the characteristics of MNEs（跨国企业）.

A: The characteristics of MNEs is as follow:

a.MNEs are generally enormous in size 组织庞大

b.Wide geographical spread 广阔的地域分布

c.Longevity and rapid growth 历史悠久和发展迅速

5.What is the commonly recognized objective of MNEs?

A: MNEs are formed for profit, and the second basic need is security. 盈利、（利润）安全

6.Why is security so important to MNEs?

A:Without security, an MNE’s survival can never be assured. The need of security includes the security of profits in the short-and-long-run, the security of the MNE’s assets and investment, and the security of other organizational needs. Profit is useless if it cannot be secured by the MNE and transferred wherever it so desires.

7.Do you think “wide geographical spread”of MNEs plays a very important role in the

development of their business? Why?

A: Yes, I do. MNEs enables them to have a wide range of options in terms of decisions in areas such as sourcing and pricing（在资源和定价的决策上有很大的选择范围）. They are also more able to take advantage of changes in the international economic environment. Such multi-nationality also enables MNEs to engage in worldwide integrated production and marketing.

8.What is the relationship between MNEs and their host countries?

A: MNCs are under the legal jurisdiction of their host governments that can impose various rules, regulations, and laws on the MNCs to the extent of nationalizing all their assets.

9.What are the four types of multinational enterprises? Describe each of them briefly.

A: The four types of multinational enterprises is that:

a.Multi-domestic corporation: it is a group of relatively independent subsidiaries（由许多

相对独立的分公司组成）. The parent company delegates sufficient power（授予权利）to

each subsidiary to manage the production and marketing in the host country for the needs

of local customers.

b.Global corporation: it operates and views the world market as an integrated whole. Power

and responsibility are concentrated at the headquarters that manages production and

marketing to achieve the economies of scale as much as possible.

c.Transnational Corporation: The activities and resources of the transnational corporation

are highly neither centralized as the second type nor decentralized as the first type but are

integrated in an interdependent network of affiliates.

d.W orld Company: their national identities are blurred to a large extent. / 国籍在很大程度

上淡化了

10.Are there may world companies at present? Imagine their future role in complete

globalization.

A: Now it is very few. When such companies become dominating, the possibility of conflicts among sovereign states may be greatly reduced. Possibly they will be instrumental to the realization of complete globalization.

9

Translate the following sentences into English:

1. 经济全球化为世界经济发展提供了新的动力和机会，同时也使各经济体更加相互依赖、相互影响。

Economic globalization is giving new impetus and providing opportunities to world economic development and meanwhile making the various economies more and more interdependent.

2. 跨国公司是在一个以上国家拥有、控制和经营资产的商业组织。

A multinational enterprise is a business organization that owns (whether wholly or partly), controls and manages assets in more than one country.

3. 许多人欢呼经济全球化带来的好处，但同时也有强烈的反对声音。

While many people are acclaiming the benefits brought about by economic globalization, there are also loud vices of opposition.

4. 除了总部以外，跨国企业组织也可能有不同的地区总部和业务总部。

An MNE may also have various regional or operational headquarters, in addition to international headquarters.

5. 跨国公司的内部交换占整个国际贸易的一个很大的比例。

The transfer of the Intra-MNE transactions constitutes a very significant proportion of total international trade.

6. 尽管公司的日常管理工作下放到跨过企业的子公司，但重要决策，如有关公司目标和新投资等都由母公司来决定。

Although the day-do-day running of corporate operation maybe decentralized to the affiliate MNCs, the major decisions, such as those on corporate goals and new investments are made by the parent company.

7. 无论人们是否喜欢，经济全球化已成为世界经济发展中的一个客观趋势。

Like it or not, economic globalization has become an objective trend in world economic development.

Lesson 5

International Trade I / 国际贸易（上）

Business Knowledge:

(1)The definition of international trade

(2)Two reasons for international trade

A.The uneven distribution of natural resources among countries

B.International specialization

(3)Two theories for international specialization

A.The theory of absolute advantage

B.The theory of comparative advantage

a.Contents of the theory

b.Not a static concept

c.The cornerstone of modern thinking on international trade

d.David Ricardo, the economist who introduced the theory

Trade Terms:

1.Services服务

2.Primary commodities初级产品

3.Specialization专业化: To restrict one’s economic activities to certain particular fields.

4.Absolute advantage绝对利益: It holds that a commodity will be produced in the country where

it costs least in terms of resources (capital, land and labor)

https://www.360docs.net/doc/44457819.html,parative advantage比较利益: It holds that even if a country is less efficient than another in

the production of both commodities, i.e. it has absolute disadvantage in production both commodities, there is still a basis for mutually beneficial trade.

6.Capital资本

https://www.360docs.net/doc/44457819.html,nd and labor土地和劳动力

8.International trade国际贸易: The exchange of goods and services produced in one country

with those produced in another sufficient.

9.Farm produce农产品

10.Scarce resources 稀缺资源

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Answer the following questions:

1.How would you define international trade?

A: the exchange of goods and services produced in one country with those produced in another sufficient.

2.Why did international trade first begin?

A: The distribution of natural resources is uneven. Some countries are abundant in resources, while elsewhere reserves are scarce or even nonexistent. And a country may be rich in some resources but poor in others.

3.What is the new incentive for trade that arose with the development of manufacturing and

technology?

A: With the development of manufacturing and technology, there arose another incentive for trade, i.e. international specialization. One country producing more of a commodity than it uses itself and selling the remainder to other countries.

4.According to the theory of absolute advantage, trade occurs only when a country has an

absolute advantage or comparative advantage?

A: According to the theory of absolute advantage, trade occurs only when each country has an absolute advantage over the others in the production of one commodity.

5.Who introduced the theory of comparative advantage? Which theory makes more sense,

absolute advantage or comparative advantage?

A: David Ricardo, English economist, introduced the theory. It seems that the idea of comparative advantage makes more sense.

6.Explain briefly why trade to exploit comparative advantage promotes efficiency among

countries.

A: The comparative advantage holds that even if a country is less efficient than another in the production of both commodities, there is still a basis for mutually beneficial trade（仍然存在互利贸易的基础）. The first should specialize in the production ad export of the commodity in which its

absolute disadvantage is smaller and import the commodity that its absolute disadvantage is greater.

7.Is comparative advantage something static? Is it purely decided by the endowments of

nature? Give examples to show the development of comparative advantage by certain countries?

A: Comparative advantage is not a static concept（不是一个静止的概念）. A country may develop a particular comparative advantage purely through its own actions, independent of the endowments of nature（而不是凭借大自然的恩赐）. Such as the watch making in Switzerland.

Translate the following sentences into English:

1.在复杂的经济世界中，没有一个国家可以完全自给自足。

In the complex economic world, no country can be completely self-sufficient.

2.随着制造业和技术的发展，出现了另一个刺激贸易的因素，即国际专业化。

With the development of manufacturing and technology, there arose another incentive for trade, i.e.

international specialization.

3.按照比较利益学说，两个贸易伙伴均可从贸易中得到好处。

According to the theory of Comparative advantage, both trade partners can benefit from trade.

4.比较利益并不是一个静止的概念，一个国家可以通过自己的行动发展某种特定的比较利

益。

Comparative advantage is not a static concept. A country may develop a particular comparative advantage purely through its own actions

5.比较利益理论已成为现代国际贸易思想的基石。

The idea of comparative advantage has become the cornerstone of modern thinking on international trade.

Lesson 6

International Trade II / 国际贸易（下）

Business Knowledge:

(1)Other bases for trade among countries

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A.Patterns of demand: different consumption preference

B.Economy of scale: the cost advantages of large-scale production

C.Innovation or style

(2)The reasons why complete specialization may never occur

(3)Tariff barriers-the most common form of trade restriction

A.Export duty

B.Import duty

a.Specific duty

b.Ad valorem duty

https://www.360docs.net/doc/44457819.html,pound duty

(4)Quotas-the most common form of non-tariff barriers

Trade Terms:

1.Tariff关税: A tax levied on a commodity when it crosses the boundary of a custom area.

2.Quota配额: A quota limits the imports or exports of a commodity during a given period of time.

It is the most common form of non-tariff barriers. / 一定时期内限制一种商品的进出口

3.Import duties进口关税: Tariffs levied on goods entering an area

4.Export duties出口关税: Taxes levied on goods leaving an area 对离境商品所征的税

5.Ad valorem duty从价税:

6.Specific duty从量税

https://www.360docs.net/doc/44457819.html,pound duties复税、混合关税

8.Drawback退税: Duties paid on imported goods that are refunded if the goods are reexported.

/进口商品重新出口时，所返回的对该商品已征的进口税

9.Most-favored-nation (MFN) treatment最惠国待遇: A tariff treatment under which a country

is required to extend to all signatories any tariff concessions granted to any participating country./ 根据最惠国待遇的要求，一国给予任何一个签约国的任何关税减让必须适用于所有签约国

10.Tariff schedule税率表、税则

11.Non-tariff barrier非关税壁垒

12.GSP普惠制: Generalized system of preferences.

13.Reasonable costs合理的成本

14.Customs area关税区

15.Customs union关税同盟

16.Tariff barriers 关税壁垒: The traditional protectionism measure

Answer the following questions:

1.Are there other bases for trade when there are no differences among countries in

production conditions? Mention some of the bases.

A: Y es, there are. First, patterns of demand may differ among nations（不同的需求）. Second, trade may occur out of economies of scale, i.e. the cost advantages of large-scale production（大规模生产的成本优势）. Third, trade takes place because of innovation or style（革新或款式的需要）.

2.What is economy of scale? What is the relation between economies of scale is trade?

A: Economies of scale is the cost advantages of large-scale production. The cost for the production of commodities will decrease if the goods are produced on a larger scale.

3.What does the theory of international specialization seek to answer?

A: The theory of international specialization seeks to answer the question which countries will produce what goods, with what trade patterns among them.

4.Will complete specialization occur in reality? Why?

A: No, it may never occur. For strategic or domestic reasons（出于战略或国内的原因）, a country may continue to produce goods for which it does not have an advantage. The benefits of specialization may also be affected by transport cost. Protectionist measures that are often taken by governments are also barriers to trade and typical ecamples are trriffs and quotas.

5.What are tariff barriers? What is a customs area and what is a customs union?

A: A Tariff barrier is a tax levied on a commodity when it crosses the boundary of customs areas.

A customs area is usually coincides（一致）with the area of a country. And a customs area

extending beyond national boundaries to include two or more independent nations is called a customs union.

6.What is most favored nation treatment? Is it a very special treatment? Why?

12

A: MFN treatment refers to a tariff treatment under which a country is required to extend to all signatories any tariff concessions granted to any participating country. It gives a country the lowest tariffs only within the tariff’s schedule, but it still possible to have lower tariffs.

7.What is the most common form of non-tariff barriers? Explain it in a few words.

A: Quotas or quantitative restrictions are the most common form of non-tariff barriers. A quota limits the imports or exports of a commodity during a given period of time. The limits may be in quantity or value terms, and quotas maybe on a country basis or global, without reference to countries.

8.What are the differences between visible trade and invisible trade? Give a few examples of

invisible trade.

A: V isible trade involves the import and export of goods and invisible trade involves the exchange of services between countries. Invisible trade is including transportation service, Insurance, tourism and the immigrant remittance from import and export labor service.

9.Explain briefly the different kinds of tariffs.

A: Import duties are tariffs levied on goods entering an area while export duties are taxes levied on goods leaving an area

Translate the following sentences into English:

1.一件商品的成本会因生产规模的扩大而减少。

The cost of a product will decrease with the expansion of production scale.

2.在实际中，即使完全的专业化在经济上有利，也可能永远不会发生。

In reality, complete specialization may never occur even though it is economically advantageous.

3.配额或者说数量限制是最常见的关税壁垒。

Quotas or quantitative restrictions are the most common form of non-tariff barriers.

4.有形贸易指货物的进出口贸易，而无形贸易涉及的是国家间的劳务交换。

The visible trade is the import and export of goods, and the invisible trade is the exchange of services between countries.

5.国家从事的贸易种类是多样的、复杂的，往往是有形贸易和无形贸易的混合。

The kinds of trade nations engage in are varied and complex, often a mixture of visible and invisible trade.

Lesson 7

Incoterms 2000 / 国际贸易术语解释通则

Business Knowledge:

(1)The necessity and purpose of having Incoterms

(2)The reasons for the 2000 revision of Incoterms

A.Spread of customs-free zones无关税区的发展

B.Changes in transportation practices运输方式的变化

C.Increased use of electronic communication电子通讯使用的增加

(3)The four groups of Incoterms

A.Group E: EXW

B.Group F: FCA, FAS, FOB

C.Group C: CFR, CIF, CPT, CIP

D.Group D: DAF, DES, DEQ, DDU, DDP

(4)The three most commonly used terms

A.FOB (free on board)

B.CFR (cost and freight)

C.CIF (cost, insurance, freight)

Trade Terms:

1.Deal交易

2.Trade terms贸易术语、交易条件

3.Trade practices贸易惯例

4.Negotiable（票据、证券等）可转让的、可流通的

5.EDI电子数据交换: Electronic Date Interchange

6.Customs clearance清关、结关

7.Dispatch发运、发送

13

8.ICC国际商会: International Chamber of Commerce

9.Roll on-roll off滚装滚卸的

10.Incoterms国际贸易术语解释通则: It is a set of international rules for the interpretation of the

most commonly used trade terms in foreign trade. Thus, the uncertainties of different interpretations of such terms in different countries can be avoided or at least reduced to a considerable degree.

11.Negotiable transport documents可转让的装运单据=Transferable transport documents

12.EXW工厂交货: Ex Work

13.FCA货交承运人: Free Carrier

14.FAS装运港船边交货: Free Alongside Ship

15.FOB装运港船上交货: Free On Board

16.CFR成本加运费: Cost and Freight

17.CIF成本、保险费加运费: Cost, Insurance and Freight

18.CPT运费付至: Carriage Paid To

19.CIP运费、保险费付至: Carriage and Insurance Paid To

20.DAF边境交货: Delivered At Frontier

21.DES目的港船上交货: Delivered Ex Ship

22.DEQ目的港码头交货: Delivered Ex Quay

23.DDU未完税交货: Delivered Duty Unpaid

24.DDP完税后交货: Delivered Duty Paid

25.UCP (the Uniform customs and Practice for documentary credit)跟单信用证统一惯例Answer the following questions:

1.What sort of risks can arise when goods are being moved from one place to another? If

risks do occur, what consequences would they bring about?

A: Sending goods from one country to another, they have to face the risk, such as lost or damaged or delivery does not take place for some other reason. If risks do occur, the climate of confidence between parties may degenerate to the point where a law suit is brought.

2.Why is it necessary to have Incoterms? And what is the purpose of making amendments

and additions to Incoterms? ▲

A: If, when drawing up their contract, buyer and seller have some commonly understood rules to

specifically refer to, they can be sure of defining their respective responsibilities simply and safely.

In so doing they eliminate any possibility of misunderstanding and subsequent dispute.

The purpose of Incoterms is to provide a set of international rules for the interpretation of the most commonly used trade terms in foreign trade. Thus, the uncertainties of different interpretations of such terms in different countries can be avoided or at least reduced to a considerable degree.

3.What is the main characteristic of Incoterms 1990?

A: The main reason for the 1990 revision of Incoterms was the desire to adapt terms to the increasing use of electronic data interchange. / 适应电子数据交换系统的迅速发展

4.What are the four different categories of terms in Incoterms 2000?

A: In Incoterms 2000, the terms have been grouped in four basically different categories: Group E (departure), Group F (Main carriage unpaid), Group C (Main carriage paid) and Group D (Arrival).

5.Why should the compilers of Incoterms 2000 take the trouble to set forth in detail the

division of duties, taxes, costs and charges etc. of both sellers and buyers, as some of them are irrelevant to either the seller or the buyer?

A: As with respect to the division between the parties of duties, taxes and other official charges, as well as the costs of carrying out customs formalities, the terms explain for the sake of clarity how such costs are divided between the parties although, of course, the seller might not have any interest at all in the buyer’s further disposal of the goods after they have been delivered to him.

6.In what areas are substantive changes made with Incoterms 2000?

A: The substantive changes have been made in some areas: one is the customs clearance and payment of duty obligations under FAS and DEQ. Two is the loading and unloading obligations under FCA.

Translate the following sentences into English:

1.包装需按运输的要求进行，在大多数情况下，卖方明确知道把货物安全地运道目的地所

需要的包装。

Packing should be made according to the requirement of transportation. In most cases, the seller

14

knows clearly the particular type of packing required for transporting the goods safely to destination.

2.在许多情况下，应通知买方在卖方将货物启运之时或之前安排验货。除非合同另有规定，

否则买方必须支付为其自身利益而安排的验货费用。

In many cases, the buyer shall be notified to go through the inspection of goods at or before the time of shipment. Unless otherwise specified, the buyers supposed to undertake the charges of inspection thus incurred for his own sake.

3.进口商可以通过可转让的运输单据将货物在运输途中卖给新的买方，这类可转让单据用

起来非常方便。

The importer can sell the goods to a new buyer while they are being carried by means of negotiable shipping documents that are very convenient for use.

4.在所有条款中，买卖双方各自的义务排列在10项标题下。

Under all terms, the respective obligations of the parties have been grouped under 10 headings.

5.2000年对国际贸易术语解释通则的修改考虑了无关税区的发展，商务活动中电子通讯使

用的增加，以及运输方式的变化。

The 2000 revision of Incoterms took account of the spread of customs-freezones, the increased use of electronic communication, and the changes in transport practices.

Lesson 8

Business Contract / 商务合同

Business Knowledge:

(1)The definition of the contract

(2)Two types of business negotiation: oral and written

(3)Process of negotiation and conclusion of the contract

A.Inquiry

B.Quotation

C.Offer and acceptance

D.Counter-off

(4)The necessity of the written contract

(5)The types of contracts

A.Sales contract

B.Purchase contract

C.Sales (or purchase) confirmation

(6)The settling of a contract

A.The title

B.The contract proper

a.The name and address of the buyer and the seller

b.The details of the commodity transaction

c.The terms and conditions mutually agreed

d.Indication of the number of original copies, language(s) used, and the validity

C.The signatures of the contracting parties

D.The stipulations on the back of the contract

Trade Terms:

1.Inquiry / enquiry询盘、询价: It is made by the buyers to get information about the goods to be

ordered such as quantity, specifications, prices, time of shipment and other terms.

2.Quotation报盘: Estimate of how much something will cost

3.V alidity period有效期

4.Offer发盘、出价

5.Counter offer还盘: New offer made by the original offeree to the original offerer

6.Offeree收盘人

7.Sales (purchase) contract销售（采购）合同

8.Sales (purchase) confirmation销售（采购）确认书

9.Consignment寄售

10.Contraction parties缔约方

11.Arbitration仲裁

12.Business line业务范围、经营范围

13.Contract proper合同本身、合同正文

14.Article number货号

15.A first enquiry首次询价: An enquiry sent to an exporter whom the importer has never dealt

with

16.A contract一个合同: An agreement which sets forth binding obligations of the relevant parties

17. A firm offer实盘: is a promise to sell goods at a stated price.按所给价格出售货物的允诺

15

offer statement that you are willing to pay a certain amount of money to by something.

18.Trade fairs 商品交易会

19.Executed contract已履行的合同

20.Executory contract待履行的合同

21.Dispute settlement合同争议的解决

https://www.360docs.net/doc/44457819.html,w suit诉讼= Legal action, Litigation

Answer the following questions:

1.What is a contract? What may happen if contraction party fails to fulfill his obligations? A: A contract is an agreement which sets forth binding obligations of the relevant parties.

/ 对有关当事人规定约束性责任的一种协定

If the party that fails to fulfill his contractual obligations may be sued and forced to make compensation.

2.Mention the two types of business negotiations（两种商务谈判）, and give examples of

each.

A:Oral（口头）and written（书面）business negotiations. Oral business negotiations refer to face-to-face discussions or those conducted through international trunk calls. Written negotiations often begin with enquiries（询盘）.

3.Is an inquiry binding on the inquirer? What are a first inquiry, and what information

should be given in it?

A: No, it isn’t. A first enquiry is an enquiry sent to an exporter whom the importer has never dealt with. The information should be given in the enquiry as to how the name and address of the exporter have been obtained, the business line and usual practice of the importer, etc.

4.What is a firm offer（发盘/出价）? What contents should be included in a firm offer? A: A firm offer is a promise to sell goods at a stated price. In making a firm offer, mention should be made of the time of shipment and the model of payment desired in addition to an exact descrip tion of the goods including the quantity, quality, specifications, packing, validity period, etc.

5.Is a counter offer（还盘）an acceptance or a refusal of the original offer? What happens to

the offer once a counter offer is made?

A: A counter-offer is a refusal of the offer that will be invalid and unbinding once a counter-offer is made.（见：P17-5）

6.Is a written contract a must internationally for the conclusion of a transaction? What is

the case in China? What are the functions of a written contract?

A: A written contract is generally prepared and signed as the proof of the agreement （达成协议的凭证）and as the basis for its execution（执行该协议的基础）.

7.What is the difference between a sales contract and a purchase contract, and between a

contract and a confirmation?

A: A Contract is made by the seller, is called a sales contract, and when made by the buyer, a purchase contract. A sales or purchase confirmation is less detailed than a contract, covering only the essential terms of the transaction.

8.Give the major items of the contract proper.

A.The title 合同名称

B.The contract proper 正文

a.The name and address of the buyer and the seller 双方全名和地址

b.The details of the commodity transaction 交易商品的详细情况

c.The terms and conditions mutually agreed 双方同意的条款

d.Indication of the number of original copies, language(s) used, and the validity

合同正本的份数、语言、有效期

C.The signatures of the contracting parties 缔约双方签字

D.The stipulations on the back of the contract 合同背面的规定

9.Are the stipulations on the back of the contract its constituent parts? Are they binding on

the contracting parties?

A: The stipulations on the back of the contract are constituent parts of the contract and are equally binding（有约束力）upon the contracting parties.

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Translate the following sentences into English:

1.合同依法实施，未能履行合同义务的一方可能受到起诉，并被强制做出赔偿。

A contract is enforceable by law, and the party that fails to fulfill his contractual obligations may be sued and forced to make compensation.

2.口头业务协商指的是面对面的直接谈判或通过国际长途电话进行的商谈。

Oral business negotiations refer to face-to-face discussions or those conducted through international trunk calls.

3.买方发出的询盘是为了获得拟定购商品的有关信息，他对发出询盘的人无约束力。Enquires made by the buyer are to get information about the goods to be ordered, and are not binding on the inquirer.

4.有效期对于确盘是必不可少的。在规定的时间之前，或在被对方接受或拒绝之前确盘一

直是有效的。

The validity period is indispensable to a firm offer, that remains valid until a stipulated time or until it is accepted or rejected.

5.还盘是对发盘的拒绝，一旦作出还盘，原报盘即失效而失去约束力。

A counter-offer is a refusal of the offer that will be invalid and unbinding once a counter-offer is made.

6. 一旦发盘或还盘被拒绝，便认为是达成交易。

Transaction is considered conclued once an offer or a counter offer is accepted.

Lesson 9

Modes of Trade / 贸易方式

Business Knowledge:

(1)Origin and development of counter trade

(2)Current counter trade

A.Barter

B.Counter purchase

C.Buyback

D.Features common to the three forms of counter trade

(3)Major advantages of counter trade

A.Helping to deal with foreign exchange shortage

B.Promoting export

C.Reducing uncertainty regarding export receipts

D.Bypassing international price agreement

E.Helping countries with debt problems to import goods.

(4)The drawbacks of counter trade

Trade Terms:

1.Counter trade对销贸易、反向贸易

2.Hyperinflation极度通货膨胀

3.Reichsbank德国国家银行

4.Cross-border contract进出口合同

5.Protectionism贸易保护注意

6.Financial market金融市场

7.Clearing system清算系统、清算制度

https://www.360docs.net/doc/44457819.html, positions实际头寸

https://www.360docs.net/doc/44457819.html,pensation trade补偿贸易

10.Trade credit accounts贸易信贷往来账户

11.Barter易货贸易: The direct exchange of goods and services, which is completed in a short

period of time. 指：货物与服务的交换，一般在短期内完成

12.Counter purchase反向购买、互购贸易: The assumption by an exporter of a transferable

obligation through separate but linked contract to accept as full or partial payment goods and services from the importer or importing country.

13.Buyback回购贸易: An agreement by an exporter of plant and equipment to take back in the

future part of the output produced by these goods as full or partial payment.

出口成套设备的一方，在将来购回一部分由这些机器设备生产的产品，作为全部或部分付款。

14.V ertical竖式地、涉及生产销售全过程的

15.Centrally planned economies中央计划经济国家

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https://www.360docs.net/doc/44457819.html,petitive devaluation竞争性贬值

17.V olkswagen大众汽车公司

18.Xerox Corporation施乐公司

19.Processing trade加工贸易

20.Consignment寄售

21.Leasing trade租赁贸易

22.Auction拍卖

23.Agency代理

24.Money market货币市场

25.Discount market贴现市场

26.Capital market资本市场

27.Securities market有价证券市场

28.Stock Exchange证券交易所

29.Foreign exchange market外汇市场

30.Gold market黄金市场

31.EPU欧洲支付联盟: European Payment Union

32.Trade credit accounts贸易信贷往来账户

33.Foreign exchange shortages外汇短缺

34.Policy objective政策目标

Answer the following questions:

1.What is counter trade（互购贸易）? Why has it attracted so much attention?

A: Counter trade has become the generic term to describe a set of cross-border contracts that link a seller’s exports to imports from the buyer.

Counter trade has attracted so much attention as it is often associated with policy objectives of relevant economies like dealing with foreign exchange shortages and promotion of exports.

2.How did counter trade originate? And what was the nature of early counter trade?

A: Following German hyperinflation, competitive devaluations and protectionism meant a global collapse in trade and in international financial and banking markets, then the counter trade originate.

The nature of early counter trade is counter trade partners are necessarily familiar partners and goods exchanged are sometimes vertically related

3.Why should Britain use bilateral clearing arrangements after W orld W ar II?

A: During and after World War II, when financial markets were in disarray, Britain used bilateral arrangements.二战期间和其后，金融市场一片混乱，英国采取了双边清算安排。

4.What are the main features of the current counter trade（对销贸易）? Can you summarize

the categories briefly under current counter trade?

A: Current counter trade partners are not necessarily familiar partners and goods exchanged are sometimes vertically related. 贸易双方并一定互相熟悉，交换的产品有时为纵向有联系的货物。

Current counter trade can be categorized as follows: Barter（易货交易）, Counter purchase（互购贸易）, Buyback（回购贸易）.

5.What are the major differences between counter purchase and buyback?

A: It is that in buyback the goods and services taken back are tied to the original goods exported whereas that is not the case in counter purchase. 回购贸易中购回的货物和劳务与原出口的商品有联系

Another important difference is that a buyback deal usually stretches over a longer period of time (as long as 15 to 20 years) than a counter purchase deal. 回购比互购时间更长

6.What is meant by bundling? What is the opposite way of doing business?

A: Bundling means the exchanges of goods and services are bundled together（货物和服务交换捆在一起）. In normal market transactions buying and selling of goods and services is unbundled, and arrangement made possible by the use of money and the “market”as an institution. Thus, an individual can sell goods and services to obtain monetary income and con then use the income for other desired goods and services. Such unbundling greatly facilitates transactions and allows more efficient economic exchanges.

7.Since bundling is not an efficient way of getting business done, what should a significant

part of the international trade of goods as well as services still be bundled?

A: major advantages of counter trade:

a.Helping to deal with foreign exchange shortage 应对外汇短缺

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b.Promoting export 促进出口

c.Reducing uncertainty regarding export receipts 减少出口方面的不确定性

d.Bypassing international price agreement 避开国际价格协议

e.Helping countries with debt problems to import goods 帮助有债务问题的国家进口商品

8.What are the advantages and disadvantages of counter trade?

A: The advantage of counter trade is in Question 7. The disadvantage of counter trade is that it can be very risky business. By concealing the real prices and costs of transactions（掩盖真实价格和成本）it may conceal and help perpetuate economic inefficiencies in the market place. Companies may suffer losses because they could not get rid of products of poor quality. Finally, counter trade may be considered as a form of protectionism（被认为是贸易保护主义）.

9.What are the basic conditions for counter trade to exist?

A: The basic conditions for counter trade to exist are that the countries lack mature and competitive markets. In such an environment counter trade can be viewed as a national form of contracting to deal with transaction difficulties.

10.What are the other modes of trade mentioned in the text?

A: The other modes of trade are processing trade, consignment, leasing trade, agency etc.

Translate the following sentences into English:

1.对销贸易一般是与有关国家的政策目标相互联系的，如应对外汇短缺和扩大出口之类的

问题。

Counter Trade is often associated with policy objectives of relevant economies like dealing with foreign exchange shortages and promotion of exports.

2.实质上，反向贸易指的是各种货物和服务的直接交换。

In essence, counter trade refers to the direct exchange of assorted kinds of goods and services.

3.回购贸易和互购贸易之间另一个重要的区别在于回购贸易一般比互购贸易要延续更长一

段时间。

Another important difference between counter purchase and buyback is that a buyback deal usually stretches over a longer period of time than a counter purchase deal.

4.在正常的市场交易中，由于使用货币及市场手段，货物的买与卖是分别进行的。

In normal market transactions buying and selling of goods and services is unbundled, because of the use of money and the market.

5.尽管有很多好处，反向贸易可能是风险很大的事。

Despite all its advantages, counter trade can be very risky business.

6.在其他贸易方式中还有加工贸易、寄售、租赁贸易、代理等。

Among other modes of trade are processing trade, consignment, leasing trade, agency etc.

Lesson 10

International Payment / 国际支付

Business Knowledge:

(1)The complexity of payment in international trade

A.Risks faced by the exporter and importer

B.Political factors政治因素, commercial factors, geographical factors, etc

(2)Two methods of payment used under certain conditions

A.Cash in advance or partial cash in advance

B.Open account

(3)The draft (bill of exchange)

A.Definition

B.Sight draft and Usance draft (tenor draft or term draft)

C.Clean draft and documentary draft

(4)Documentary collection

A.Documents against payment (D/P)

a.D/P at sight

b.D/P after sight

B.Documents against acceptance (D/A)

Terms:

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1.Debtor债务人

2.Debit借方

3.Financial standing财务状况= financial status = financial strength

4.Credit worthiness资信可靠状况

5.Periodic payments分阶段付款

6.Cash in advance预付现金

7.Draft汇票:= Bill of exchange. It is an unconditional order to a bank or a customer to pay a sum

of money to someone on demand or at a fixed time in the future.

8.Drawer出票人: The person who draws the draft (usually the exporter)

9.Drawee受票人: The person to whom the draft is drawn.

10.Payee收款人、领款人: The person receiving the payment.

11.Sight draft即期汇票: The draft calls for immediate payment on presentation to the drawee.

https://www.360docs.net/doc/44457819.html,ance draft远期汇票=Term draft = Tenor draft: The draft is payable at a later date on

presentation to the drawee.

13.Clean draft光票: The draft without documents

14.Documentary draft跟单汇票: The draft is accompanied by the relevant documents.

15.Documentary collection跟单托收: It is means of ensuring that the goods are only handed over

to the buyer when the amount shown on a bill of exchange is paid or when the customer accepts the bill as a contract to pay by a specified date.

16.Open account记账交易

17.D/P付款交单: Documents against payment

18.D/A承兑交单: Documents against acceptance

19.D/P at sight 即期付款交单

20.D/P after sight 远期付款交单

21.Title to the goods货物所有权

22.Ownership to the goods货物所有权

23.Insurance policy保险单

24.Remittance 汇付: This method is always employed by the parties who are familiar with and

trust each other

Answer the following questions:

1.Why is it difficult to effect payment in a straightforward manner in international trade?

A: Purchase and sale of goods and services are carried out beyond national boundaries, which makes it rather difficult for the parties concerned in the transaction to get adequate information about each other’s financial standing and creditworthiness. Therefore, mutual trust in hard to build. Both the exporter and the importer face risks as there is always the possibility that the other party may not fulfill the contract.

2.Mention some of the risks the exporter and the importer may face in trade.

A: For the exporter there is the risk of buyer default. The importer might fail to pay in full for the goods. He might go bankrupt; his government might, for various reasons, ban trade with the exporting country or ban imports of certain commodities; the buyer might run into difficulties getting the foreign exchange to pay for the goods. It is even possible that the buyer is not reliable and simply refuses to pay the agreed amount on various excuses.

For the importer, there is the risk that the shipment will be delayed, and he might only receive them long after payment. The delay may be caused by problems in production or transportation, and such delays may lead to loss of business. There is also a risk that wrong goods might be sent as a result of negligence of the exporter or simply because of his lack of integrity.

3.Explain briefly the following methods of payment: cash in advance; open account;

consignment transactions.

A: Cash in advance（预付现金）: in this case, the importer has no guarantee that the exporter will fulfill his obligations once he has made payment by cash.

Open account（记账交易）: in this case, the buyer and the seller know each other will. No documents are involved and that legally the buyer can pay anytime. The seller loses all control over the goods once they have been shipped. Sales on this basis are usually paid for by periodic payments, and obviously the exporter must have sufficient financial strength to carry the cost of the goods until receiving payment.

Consignment transactions（寄售交易）: in this case, the exporter wishes to retain title or ownership to the goods, he has to send his goods abroad and will not get payment until the goods are sold. If not sold, the goods can be shipped back.

Therefore this arrangement should only be made with full understanding of the risks involved

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