大學(xué)外貿(mào)英語基本知識點

大學(xué)外貿(mào)英語考試大綱

Chapter1TheGlobalEconomicCrisis

Manypeoplebelievethecurrentglobalslowdowninitiatein2008,toa

largeextent,wasofAmericanmaking.

Plungeinhousingindustry,reducedordelayedforeigndirectinvestment,

creditcrunchinmanyacountry,shrinkageofconsumerspending,

decliningstockmarkets,sharprisesinunemploymentrate,amuch

smallernumberofinternationaltourists,slowingdownincountries5GDP

growthareallillustrationsofglobaleconomiccrisis.

GDP=GrossDomesticProduct

MNE=MultinationalEnterprise

Sixtenetsofinternationaltradearetakingadvantageoftradeagreements,

protectingyourbrandatallcosts,maintaininghighethicalstandards,

stayingsecureinaninsecureworld,expectingtheunexpectedand

rememberingallglobalbusinessispersonal.

G20includesArgentina,Australia,Brazil,Canada,China,France,

Germany,India,Indonesia,Italy,Japan,Mexico,Russia,SaudiArabia,

SouthAfrica,RepublicofKorea,Turkey,UnitedKingdom,UnitedStates

ofAmerica.

?recession?capitalflowscpolicy

?housingstart?highyield?liquidity

?budgetdeficit?macroeconomi?trade

protection?public

?taxheavensspending

?privatesector?balancesheet

?publicsector?securities

Chapter2AmericanEconomy

TheagriculturalsectorofAmericaneconomyisalsoimportant,with

highlymechanizedfarmingmethodsandefficientpest-control

techniques.

ServiceindustryintheU.S.hasbecomemoreandmoreimportant,

makingupmorethan60%ofAmericaneconomicactivities.

■retailsales■junkbond■jobmarket

■corporatefleets■equity■creditrating

■mini-depressioshares/■laborcost

nsecurities

■interbankrates■estateagent

■moneysupply■mortgage

■creditsupplybrokers

Chapter3China'sEconomy

DuringtheearlyyearsafterthePeople'sRepublicofChinawassetup,

thecountryfollowedtheformerSovietUnion'smodelofeconomic

planningandcommand.

Mr.Edwardsreckonsthatadeclineinelectricityoutputmaymeanthat

GDPisfalling,nomatterwhattheofficialfiguressay.

Energy-guzzlingheavyindustries,suchassteelandcement,borethe

bruntofChina'sdownturnlateinyear2008.

ThosewhorepeattheofficialmantrathatChinaneedstogrowbyatleast

8%ayeartoavoidsocialunresthasnosoundeconomicbasis.

AccordingtoChapter3,China's4trillionyuan($585billion)packageof

infrastructurespending,subsidiesandtaxcutsforbusinesseshasbeen

trashedbymanycommentatorsasanother''Chinesefake”.

ChrisWood,atCLSA,abrokerage,saystheeffectivenessofthestimulus

hingesontheextenttowhichChinaisnowacapitalisteconomy.

Publicinvestmentwillinevitablyincludesomewastefulspending,and

politicallydirectedlendingcouldaddtoexcesscapacityinsomesectors

andcreatenewbadloansforbanks.

SOEStateOwnedEnterprise

HSBC=HongKongShanghaiBankingCompany/Corporation

OECD=OrganizationforEconomicCooperationandDevelopment

CPI=consumerpriceindex

■slump=depresseconomy■capitalist

ion■plannedeconomy

■rebate=economy■badloan

discount■capitalism■heavyindustry

■command■Socialism■economic

stimulusplan■letterofcredit■emerging

■industrial■infrastructureeconomies

production■competitivenes

■tradesurpluss

Chapter4BenefitsofInternationalTrade

Internationaltradeisexchangeofcapital,goods,

andservicesacrossinternationalbordersorterritories.

Thebenefitsofinternationaltradeincludehelpingtoraisetheliving

standardsofthepeople,toupgradeacountry'smodernization,tosolvea

country'sshortageofcapital,tosolveunemploymentproblems,to

promotemutualunderstandingandfriendshipbetweentradingpartners,

toboostacountry'scompetitivenessintheworldmarketandto

accelerateitsoveralleconomicgrowth.

GNP=GrossNationalProduct

ASEAN=AssociationofSoutheastAsianNations

EU=EuropeanUnion

?depositn?productivity

?foreign?jointventure?self-sufficiency

exchange?after-sales

?financeservice

?modernization?productive

?industrializatiofactors

Chapter5ModernTradeTheories(1)

Mercantilism,representingthefirststageinthedevelopmentofmodern

tradetheory,aroseduringtheperiod1500-1800inEuropewiththe

declineoffeudalismandtheriseofcapitalism.

Mercantilistholdsthatthewealthofanationliesingoldandsilver,

internationaltradeisazero-sumgameandthegovernment'sfunctionis

toencourageexportwhilelimitimport.

AdamSmith'smasterpieceisAnInquiryintotheNatureandCausesof

theWealthofNations,whichwaspublishedin1776.

AdamSmithfirstdescribedtheprincipleofabsoluteadvantageinthe

contextofinternationaltrade,usinglaborastheonlyinput.

AdamSmithalsostatedthatthewealthofnationsdependsuponthe

goodsandservicesavailabletotheircitizens,ratherthantheirgold

reserves.

AdamSmithwasforinternationalfreetradeandinternationaldivisionof

labor.

DavidRicardodevelopedthetradeprincipleofcomparativeadvantage.

PPF=ProductionPossibilityFrontier

?absolute?factor?mercantilism

advantageendowment?capitalism

?comparative?product?mercantilist

advantagelife-cycle?tradebalance

?internationaltcost

divisionof?convertible?factorcosts

laborcurrency?volume

?neo-mercantilis?opportunityadvantage

Chapter6ModernTradeTheories(2)

H-0theorywasdevelopedfromcomparativeadvantagetheory.

H-0theoristsholdthatdifferencesinrelativefactorendowmentsand

factorpricesconstitutethemostimportantexplanationofthebasisfor

internationaltrade.

Withtradetherelativedifferencesinresourcespricesbetweennations

tendtobeeliminatedortobeequalizedasaresultofcontinuous

specializationintheproductionofthecommodityofanation's

comparativeadvantage.

H-0theoryfailstoturnenoughattentiontotheincreasingimportanceof

therolesplayedbyscienceandtechnologyintheinternationaldivisionof

laborandinternationaltrade.

H-0theoryfailstotouchonthemaximizationofprofit-seekingasoneof

themostfundamentalreasonsforcapitalistcountriestotradewithother

countries.

LeontiefisaneconomistwhowontheNobelPrizeininternational

economicsin1973.

OneoftheinfluentialtheoriesattemptingtoexplainLeontiefparadoxis

theproductlife-cycletheory.

Theproductlife-cycletheoryisprimarilyconcernedwiththeroleof

technologicalinnovationaskeydeterminantoftradepatternsin

manufacturedproducts.

Thestagesthatmanymanufacturedgoodsgothroughinclude

introductionstage,growthstage,maturitystage,declinestageandlosing

toforeigncompetitorsstage.

BoeingandMcDonnelDouglasareexamplesoffirst-moveradvantage.

Accordingtogravitymodeloftrade,tradebetweentwocountries

increaseswiththeireconomicsize,butdecreaseswiththedistance

betweenthem.

AndrewRose'sinnovationwastoaddmembershipofacurrencyunionas

apossibleinfluenceontrade.

?homemarketscale?monopoly

?production?currencyunion?exportsourcing

process?business?production

?economiesofexecutivescapability

Chapter7ArgumentsonGovernmentInterventioninInternational

Trade

Thecategoryofargumentsongovernmentinterventionininternational

tradecoverarangeofissuesincluding:protectingjobsandindustries,

nationalsecurity,retaliation,protectingconsumers,furtheringforeign

policyobjectivesandprotectinghumanrights.

CAP=CommonAgriculturalPolicy

VERs=VoluntaryExportRestraints

MFN=MostFavoredNation

GMfood=geneticallymodifiedfood

Therearetwotypesoftraderegimesincountriesaroundtheworld,

whicharefreetradeandmanagedtradeorfairtrade.

Governmentinterventionarisesinvariousforms,mainlyaretariff,

non-tarifftradebarrier,quotaandinvestmentbarriers.

DevelopedcountriesincludingtheUnitedStatesalsohavetheirown

humanrightsproblems.

Theinfantindustryargumenthasbeenrecognizedasalegitimatereason

forprotectionismbytheWTO.

HongKonggovernmentputupmostofthecash-$1.74billion-to

buildHongKongDisneyland,whichisanexampleofinvestment

incentives.

Threecriteriahavebeenespeciallypopularamongsupportersofstrategic

tradepolicies.Theyare(l)industriesaredesirableiftheyhavehighvalue

addedperworker;(2)Industriesaredesirableiftheypayhighwages;and

(3)Industriesaredesirableiftheymakeuseofhightechnology.

?anti-dumpingbarriersMotors,Ford,

?importquotas?BigThreeandChrysler

?non-tarifftradeGeneral?subsidies

?foot-mouth?tradesanction?chip

?madcow?infantindustry

disease?consortium

Chapter8InternationalTradePolicies

Acountry'sinternationaltradepoliciesincludeimportandexport

commoditypolicieswhicharepoliciesformulatedonthebasisofa

country'sgeneralforeigntradepolicies,economicstructureanddomestic

marketconditions.

Themostimportantgoalsorobjectivesofinternationaltradepoliciesof

variouscountriesaretoprotectacountry'sdomesticmarkets,toprotecta

country'sdomesticindustries,toexpandacountry'sexportmarkets,to

promotetheimprovementofacountry'sindustrialstructure,to

accumulatecapitalorfunds,andtomaintainacountry'seconomicand

politicalrelationswithothernations.

Governmentfollowingfreetradepolicydonotattempttosetupbarriers

whatsoevertoimportandexporttrade.

Protectivetariffs,voluntaryexportsrestraints,importquotas,import

licensingsystemareallimportantformsofprotectivetradepolicies.

Tariffsaretheoldestandsimplestinstrumentoftradepolicies.

ExporttariffsareprohibitedbytheU.S.constitution.

Aspecifictariffisexpressedintermsofafixedamountofmoneyper

physicalunitoftheimportedproduct.

Anadvaloremtariff,muchlikeasalestax,isafixedpercentageofthe

valueoftheimportedgoodasitentersthecountry.

Subsidiesindevelopedcountriestakemanyformsincludingcashgrants,

low-interestloans,taxbreaks,andgovernmentequityparticipationin

domesticfirms.

Avoluntaryexportrestraintisavariantonimportquota.

Aswithtariffsandsubsidies,bothimportquotasandVERsbenefit

domesticproducersbylimitingimportcompetition.

Bothdevelopingnationsanddevelopednationshaveusedlocalcontent

requirements.

Aswithalltradepolicies,localcontentregulatorstendtobenefit

producersnotconsumers.

Inthecontextofinternationaltrade,dumpingisvariouslydefinedas

sellinggoodsinaforeignmarketatbelowtheircostofproductionoras

sellinggoodsinaforeignmarketatbelowtheir"fair"marketvalue.

TheJapanesearemastersofadministrativepolicies.

GATT=GeneralAgreementonTariffsandTrade

?specifictariff?taxbreak?industrial

?advalorem?importstructure

tariffsubstitution?preferential

?protectivetariff?profitmargintreatment

?punitivetariff?customs?tradesanction

?cashgrantsinspector?patentlaw

?copyright?thethird-world?JobOne

piracynation

?copyrightlaw?thinktank

Chapter9RegionalEconomicIntegration

Regionaleconomicintegrationformincludespreferentialtrade

arrangement,afreetradearea,acustomsunion,acommonmarket,an

economicunionandapoliticalunion.

TheEUhas27memberstatesnow.

TheEUwascreatedin1993fromtheEuropeanCommunity,whichitself

grewfromtheEuropeanCoalandSteelCommunity,theEuropean

AtomicEnergyCommunity,andtheEuropeanEconomicCommunity.

CounciloftheEuropeanUnion,EuropeanCommission,European

ParliamentandEuropeanCourtofJusticearethefourinstitutionsthat

governtheEU.

NAFTAhelpstoboosttradeandreducetariffsamongMexico,Canada

andU.S..

SomepeoplehaveclaimedthatNAFTAhasresultedinamassexodusof

jobsfromtheU.S.andCanadaintoMexicoasemployerssoughttoprofit

fromMexico'slowerwagesandlessstrictenvironmentalandlaborlaws.

NAFTA=NorthAmericanFreeTradeAgreement/Area

APEC=AsiaPacificEconomicCooperation

CEPA=CloserEconomicPartnershipArrangement

HongKong(SAR)=HongKongSpecialAdministrativeRegion

ECFA=EconomicCooperationFrameworkAgreement

?fiscalpolicy?tradevolumeMinistry

?employment?industrial

policypolicy

?intermediate?Citigroup

product?Commerce

Chapter10ExchangeRateandInternationalTrade

Ifyuanrisesagainstthedollar,China'sexportstotheU.S.willbecome

morecostly,andthiswillslowdownorevenstoptheexportgrowthrate.

Basicallytherearetwotypesofexchange-ratesystem:thefixed

exchange-ratesystemandthefloatingexchange-ratesystem.

Underfixedexchange-ratesystem,theratebetweenonecurrencyand

anotherisfixedandmaintainedbythegovernment.

Byfloatingorflexibleexchangerates,wemeancurrencypricesare

determinedbythemarketforces.

BOP=BalanceofPayments

?exchangerate?floating?centralbanks

?foreignexchange-rate?financial

currency?foreignmarket

?fixedexchange?currency

exchange-ratemarketregime

?budgetdeficit?rebatecompany

?property?mutualfund

market?insurance

Chapter11TheBalanceofPayments

Aninternationaltransactionreferstotheexchangeofgoods,services,

andassetsbetweenonecountryandtherestoftheworld.

TheBOPofacountryisoftenmainlycomposedofthecurrentaccount

andcapitalaccount.

Acredittransactionisonethatresultsinareceiptofapaymentfrom

foreigners.

Adebittransactionisonethatleadstoapaymenttoforeigners.

Double-entrybookkeepingmeanseachinternationaltransactionis

recordedtwiceintheBOPaccount,onceasacreditandoneasadebitof

anequalamount.

?accounting?asset?currencyband

principle?current

?economictransfers

policy?visibletrade

?monetary?officialreserve

policyaccount

Chapter12InternationalInvestmentandMultinationalEnterprises

ThemainreasonsforMNCstooperateabroadaretosecuresuppliesof

rawmaterials,toutilizecheaplaborsources,toservicelocalmarketsand

tobypassprotectionistbarriers.

Internationalinvestmentintermsofitsform,isbasicallyoftwotypes:

foreignindirectinvestmentandforeigndirectinvestment.

Portfolioinvestorsnormallydonotaimtoobtainamanagerialcontrolof

acorporation.

Portfolioinvestmentsarethereforefinancialassets.

InvestmentsmadebyMNCsabroadinbuildingfactories,producing

capitalgoods,inbuyinglandandinventoriesareallexamplesofforeign

directinvestments.

Directinvestmentsarenowtheprincipalchannelofinternationalprivate

capitalflows.

ThemostcontroversialoftheallegedharmfuleffectsofMNCsonthe

homenationisthelossofdomesticjobsresultingfromFDL

ThesecondproblemisthatMNCsbymakingFDIreducethehome

country'staxrevenue.

Finally,duetotheMNCs'activeparticipationintheinternationalcapital

markets,theycanmakeitdifficultforthehomenationtocontroloverthe

nationaleconomy.

■multinationalownership■factor

corporations■hostcountrymovement

■stock■dividend■debtobligation

■subsidiary■oligopolisticresources

■distributionmarket■theWorld

network■tradeBank

■capitalgoodsinvestment

■inventory■human

Chapter13GATT

GATTisthepredecessoroftheWTO.

TheGATTwasnotaformalinternationaltradebodybutaninternational

treatyoramultilateralagreement.

Inoneword,theGATTwassignedtoliberalizeworldtrade.

TheGATTrestsonthefollowingeightprinciples:non-discrimination,

protectionbytariffandtariffconcession,generaleliminationof

quantitativerestriction,fairtradebasedonprohibitionofdumpingand

restrictionofexportsubsidies,exemptionandemergencyactionprinciple,

consultationandmediationprinciple,specialpreferentialtreatmentto

developingcountriesandtransparencyprinciple.Thefirstthreeare

essential.

Inanutshell,theGATThadmadethefourcontributionstothe

developmentofworldtrade,whicharetariffreduction,preferential

treatmenttodevelopingcountries,generaleliminationoftariffand

non-tariffbarrierstotradeinsomesectorsandsetting-upoftheWTOin

1994.

AlthoughthecompletionoftheUruguayRoundwasofitselfagreat

achievement,onlysomeofitsaimsweremetandmanytradeproblems

remain.

ThefirstandmostimportantproblemofUruguayRoundisthatmany

sectorswerenotincludedintheagreement.

WithoutthisGATTdeal,theworldmighthaveslippedintoincreasingly

dangeroustradewars.

UR=UruguayRound

WTO=WorldTradeOrganization

FOB=FreeonBoard離岸價格

CIF=CostInsuranceandFreight到岸價格

?most-favored-nemergencyeconomy

ationprovisionaction?DohaRound

?preferential?consultation?Non-discrimina

tariffandmediationtion

?exportlicense?researchcost?Contracting

?countervailing?securityfirmparties

duty?centrally

?primaryplanned

producteconomy

?exemptionand?market

Chapter14-16WTO

TheW