国际贸易原理与实务资料整理.doc

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1.贸易分类Classification of international trade: Export trade, Import trade, Transit trade。Direct trade, Indirect trade, Entrepot trade。Visible trade, Invisible trade.
2. ICC : International Chamber Of Commercial(国际商会)
3.Mercantilism重商: refers to the school of economic thought that came into existence in Europe during the period from 1500 to 1750. the trade theory that states that nations should accumulate financial wealth, usually in the form of gold, by encouraging exports and discouraging imports is called mercantilism. The main problem with mercantilism is that all countries engaged in export but was restricted from import, another prevention from development of international trade.
4. absolute of advantage绝对优势: Adam Smith developed the trade theory of absolute advantage in 1776. Smith stated that tariffs and quotas should not restrict international trade; it should be allowed to flow according to market forces. Contrary to mercantilism Smith argued that a country should concentrate on production of goods in which it holds an absolute advantage. No country would then need to produce all the goods it consumed. According to the absolute advantage theory, international trade is a positive-sum game, because there are gains for both countries to an exchange.
5. Comparative Advantage相对优势: first introduced by David Ricardo in 1817. The principle of comparative advantage states that a country should specialise in producing and exporting those products in which is has a comparative, or relative cost, advantage compared with other countries and should import those goods in which it has a comparative disadvantage. Out of such specialisation, it is argued, will accrue greater benefit for all.
6. Reasons for trade restrictions: ①a diversified economy to be less dependent on foreign countries both economically and politically. ②Protect vital industries (stability and economic development).③Infant industry argument (a new industry needs to be protected until the labor force is trained, the production techniques are mastered and the operation becomes large enough to enjoy the economies of scale and to be able to compete in the market. ④Employment (protect domestic jobs⑤Pure political reasons
7.tariffs关税: a tax, or duty, levied on a commodity when crosses the boundary of a customs area.
①According to the methods used in imposing import duties: Specific duty: A tariff levied as a fixed charge for each unit of imported goods. (Disadvantage: Protective value varies inversely with the price of the import.///Ad valorem duty: Levied as a constant percentage of the monetary value of 1 unit of the imported good.///Mixed or compound duty: A duty placed on imported items, the amount of which is based upon the above two duties.///Alternative duty:Adopting either of these two duties ②According to different tariff rates: Preferential duties: applied according to its geographical source.///generalized preferential duty: extended under the General System of Preferences.///MFN duty: a duty for nations entitled to most-favored-nation treatment or trading status///general duty: a non-MFNT tariff, applied to countries without MFNT agreement.③According to special purposes: Countervailing duties (CVD): a tariff designed to ”counter” the effects of the foreign export subsidy.///Anti-dumping duties: a duty to imports to offset the eddects of dumping.
8. .forms of non-tariff barriers
①quantity control measures(non-automatic licence、 quota、 quantitative safeguard measures、 prohibition、 voluntary export restraints即VERs);
②price control measures(administrative pricing、 variable charges、 antidumping or countervailing measures);
③para-tariff measures(customs surcharges、 additional taxes and charges、 internal taxes and charges levied on imports、 decreed customs valuation);
④finance measures(advance payment requirements、 multiple exchange rates、 restrictive official foreign exchange allocation、 prohibition of foreign exchange allocation、 bank authorization、 surrender requirement);
⑤anti-competitive measures(single channel for imports、 compulsory national service);
⑥miscellaneous measures(to subsidize import-competing industries、 government procurement policy、 administrative classification、 technical measures).
9. dumping: Dumping is selling exports at a price that is too low, less than normal or fair value.
Types: ① Predatory dumping: driving competitors out of business in the foreign country.
② Sporadic dumping: Foreign producers have temporary surplus that they export at whatever price can get. a) Cyclical dumping: during periods of recession a firm tends to lower its price to limit the decline in the quantity sold. b) Seasonal dumping: intended to sell off excess inventories of a product ③ Persistent dumping: when a firm with market power uses price discrimination between markets to increase its total profit
10.Unfair competition caused by: ①Social dumping: firms in developing nations with lower labor costs and poorer working conditions. ②Environmental dumping: a country’s lax environmental standards. ③ Financial services dumping: a nation’s low requirements for bank capital/asset ratios. ④Cultural dumping: cultural barriers aiding local firms.
11. Conditions of dumping: ① Such firm must has monopoly power in domestic market.② Segmented markets (no buy in and sell at a profit between domestic market and foreign market). ③ Different demand elasticity.
12. types of regional economic integration: ①Preferential Trade Area is a trading bloc which gives preferential access to certain products from certain countries. This is done by reducing tariffs, but does not abolish them completely. ②Free Trade Area, all barriers to the trade of goods and services among member countries are removed. But each country is allowed to determine its own trade policies with regard to nonmembers. ③Customs Union is one step further along the road to full economic and political integration. A customs union eliminates trade barriers between member countries and adopts a common external trade policy. ④Common Market has no barriers to trade between member countries, includes a common external trade policy, and allows factors of production to move freely between members. ⑤Economic Union involves the free flow of products and factors of production between member countries and adoption of common external trade policy, but it also requires a common currency, harmonization of members’ tax rates and a common monetary policy, fiscal policy.
13. Static effects of regional economic integration: The effects that occur directly on the formation of the integration project. ①Trade creation: Economic integration creates trade that would not have existed otherwise. ②Trade diversion: Economic integration diverts trade, away from a more efficient nonmember supplier to a less efficient member supplier. ③Administrative saving: Economic integration can lead to administrative saving by eliminating the need for government officials to monitor the goods and services that cross the borders. ④Collective terms of trade improving: If a bloc of countries imposes the tariff, the fall in demand for the imported goods will be substantial. ⑤Greater bargaining power in trade negotiation greater than they would have had negotiated on their own.

14. Dynamic effects of regional economic integration: ①Increase competition and economies of scale. (Market size increases lower degree of monopoly; Some industries require large scale production; Internal economies of scale ( greater production); External economies of scale resulted from cheaper; capital, more highly skilled labor, or superior technology) ②Stimulate greater investment in the member countries. e.g. massive U.S. investment occurred in the EC
15. main differences between GATT and WTO: ①Nature :GATT — ad hoc and provisional (never ratified in members’ parliament and contained no provisions for the creation of an organization)。WTO — permanent, has sound legal basis (members have ratified the WTO agreements ②Scope: GATT — goods only。WTO — goods, services and trade-related aspects of intellectual property rights.③Approach: GATT — selective basis (plurilateral)。WTO — a single undertaking (multilateral) ④Dispute settlement : WTO: Specific time limits faster than the GATT。Has permanent appellate body to review findings by dispute settlement panel.
【关系: ①the WTO replaced GATT as an international organization, but the GATT still exists as the WTO’s umbrella tready for trade in goods, updated as a result of the Uruguay Round negotiations.】
16. FOB=Free on board (named port of shipment)
l In FOB, the seller is required to deliver goods on board a vessel that is to be designated by the buyer at a particular port.
The seller’s obligation under FOB:
l 1) providing the goods
l 2) obtaining export license and other documents
l 3) carrying out all customs formalities for export
l 4) delivering the goods on board and notify the buyer
l Notes for 4):
l a. the vessel designated by buyer
l b. at the particular port
l c. within the stipulated time period
l 5) bearing all risks of loss of or damage to the goods until the time they’ve passed the ship’s rail
l 6) providing the commercial documents, or its equivalent electronic message to buyer
The buyer’ obligation under FOB:
l 1) obtaining import license or other official authorization
l 2) carrying out all import customs formalities
l 3) preparing carriage from the named port of shipment
l Notes for 3):
l a. paying the freight
l b. informing the seller of the name and the date of arrival of the ship
l 4) bearing all risks of loss of or damage to the goods from the time they’ve passed the ship’s rail
l 5) taking delivery of the goods, making payment to the seller
Variations of FOB Terms 变体
l FOB Liner Terms: FOB 班轮条件
l FOB Under Tackle: FOB吊钩下交货
l FOB Stowed: FOB理舱费在内
l FOB Trimmed: FOB平舱费在内
l FOB Stowed and Trimmed: FOB理舱费和平舱 费在内
17. CFR : COST AND FREIGHT (named port of destination)成本加运费( ……指定目的港)
l Under the CFR term, the seller must pay the costs and freight necessary to bring the goods to the named port of destination.
l Shipment advice(转船通知) A shipping advice contains
l Difference with FOB: The seller instead of the buyer is responsible for making arrangement of the ship (chartering a ship or booking a space)
The seller ‘s obligation:
1) Be responsible for booking the shipping space, deliver the goods on board the vessel at the port of shipment on the date or within the period stipulated.
2) Give the buyer the shipping advice at once after shipment, so that the buyer can arrange for insurance
3) bear all risks of loss of or damage to the goods until such time as they have passed the ship’s rail at the port of shipment.
4) clear the goods for export and provide export license or other official authorization for the exportation of the goods.
The buyer’s obligations:
1) bear all risks or damage to the goods from the time they have passed the ship’s rail at the port of shipment.
2) arrange for insurance and pay the insurance premium.
3) accept the documents when tendered by the seller, if they are in conformity with the contract of sale, and pay the price as provided in the contract.
4)accept delivery of goods when they have been delivered at the named port of destination and bear all charges as well as the cost of carrying out the customs formalities payable upon importation of the goods and, where necessary, for their transit through another country.
Special issues under CFR
l Shipping advice(装船通知): A shipping advice contains the vessel name, the voyage number, the sailing date and the date of loading.
l The purpose: 1)to inform the buyer or its agent to make preparation for taking delivery of goods 2) to inform the buyer to effect the insurance
The variations of CFR
l CFR Liner Terms (CFR班轮条件 )
l CFR Landed (CFR卸至码头)
l CFR Ex Tackle (CFR吊钩下交货)
l CFR Ex Ship’s Hold (CFR舱底交货)
18. CIF (named port of destination)
l COST, INSURANCE AND FREIGHT
the seller must pay the costs and freight necessary to bring the goods to a named port of destination, and must also procure marine insurance against the buyer’s risk of loss of or damage to the goods during the carriage.
Compared with CFR
l CIF is the same as CFR except that the seller is responsible for effecting insurance, paying the premium(保险费).
l ( the insurance required under a CIF contract has to cover minimum conditions)
In general, CIF involves the exporter in three contracts:
Contract of sale; Contract of insurance; Contract of transportation.
The seller’s obligations under CIF
l 1) providing the goods
l 2) clearing the goods for export
l 3) obtaining export license or other official authorization for the exportation of the goods
l 4) chartering a ship or booking a space
l 5) delivering the goods on board the vessel at the port of shipment on the date or within the period stipulated and notifying the buyer
l 6) bearing all risks of loss of or damage to the goods until such time as they have passed the ship’s rail at the port of shipment
l 7) arranging for an insurance and paying the costs of freight and insurance
8) Providing the buyer with relative documents including the insurance policy
Buyer’s obligations under CIF
l 1) bearing al risks of loss of or damage to the goods from the time they have passed the ship’s rail at the port of shipment
l 2) accepting the documents when tendered by the seller, if they are in conformity with the contract of sale, and pay the price as provided in the contract
l 3) taking delivery of the goods when they have been delivered at the named port of destination and bearing all charges of unloading goods
l 4) clearing the goods for import
l 5) carrying out customs formalities for importation of goods
Variations of CIF
l CIF Liner Terms:
l CIF Landed:
l CIF Ex-Ship’s Hold:
The use of CIF
l CIF is preferred by buyer
l 1) it means they have little to do with the goods until the goods arrive at the port of destination in their country.
l 2) it allows buyers to compare prices from suppliers around the world without having to take into consideration differing freight rates, since the seller pays the freight and insurance.
l Seller ”like” CIF too:under the pressure from their government, seller is required to use domestic carriers and insurers.
19.比较FOB、 CFR、 CIF(区别与共同点)
①commonalities: a.Under all the three terms, the place of delivery or place of transferring risks is the same, that is ,when the goods pass the ship's rail at the port of shipment; b.Under all the three terms, the seller is responsible for carrying out export clearance while the buyer is responsible for carrying out import clearance.
②Differences: a.Under FOB, the buyer is liable for both contracting carriage and taking out marine insurance; b.Under CFR, the seller is liable for contracting car