|http://www.sina.com.cn 2006/04/06 14:49 新浪考试|
With the development of manufacture and technology,there arose another incentive for trade, i.e.international specialization.
Comparative advantage is not a static concept. A country may develop a particular comparative advantage through its own action.
The idea of comparative advantage has become the cornerstone of mordern thinking on international trade.
In reality, complete specialization may never occur even though it is economically advantageous.
The visible trade is the import and export of goods, and the invisible trade is the exchange of services between countries.
The kinds of trade nations engage in are varied and complex, often a mixture of visible and invisible trade.
In international trade, both the exporter and importer face risks as there is always the possibility that the other party may fail to fulfill the contract.
A lot of international transactions are paid for by means of the draft, which is an order to a bank or a customer to pay.
So far as the exporter’s interest is concerned, D/P at sight is more favourable than D/P after sight, and D/P is more favourable than D/A.more favourable than D/A.
In international trade it is almost impossible to match payment with the physical delivery of the goods.
Either because the credit amount is too large, or because he does not fully trust the opening bank, sometimes the exporter may require a confirmed letter of credit.
In the case of sight credits, payment can be made promptly upon presentation of draft and impeccable shipping documents.
A usance credits obviously calls for a time draft, and the usance varies from 30,60 days to as long as 180 days even longer.
A letter of credit is called transferable if it can be transferred by its original beneficiary to one or more parties. The original beneficiary is called the first beneficiary, and the party the credit is transferred to is called the second beneficiary
A contract is enforceable by law, and the party that fails to fulfill his contractual obligations may be sued and forced to make compensation..
Enquiries made by the buyer are to get information about the goods to be ordered, and are no binding on the inquirer .
The validity period is indispensable to a firm offer, that remains valid until a stipulated time or until it is accepted or rejected.
A clean bill of lading refers to one that indicates the goods have been shipped in apparent good order and condition, which means it is deveid of any qualifying remarks about the packing and the outer appearance of the goods.
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 buyer is supposed to undertake the charges of inspection thus incurred for his own sake.
The importer can sell the goods to a new buyer while they are being carried by means of negotiable shipping documents which are very convenient for us.
The 1990 version of incoterms was the desire to adapt terms to the increasing use of electronic data inter change.
There is no doubt that a society without an advanced transportation system remains primitive.
As a society, we enjoy a richer and more leisurely life than we would be in a totally self-sufficient community.
Another factor that has thrust transportation into the lime light in recent years is the growing utilization of just-in-time inventory systems on the basis of a production approach in which the firm maintains very small quantities of production inputs.
Therefore, cargo insurance is an activity aiming at moving the burden of risk from the exporters and importers to the underwriters.
An insurance contract without an insurable interest to support it is invalid and any claim made up it will not be entertained.
The compensation payable generally includes the invoice cost plus freight, the insurance premium, and an agreed percentage, say 10%.
As counter trade often takes place in less developed economies and in centrally panned economies, it is often related with policy objectives in these countries.
Another important difference is that a buyback deal usually stretches over a longer period of time than a counter purchase deal.
The stock exchange has long served he needs of government industry and investors in providing the central market place for the issuing and trading of securities.
Although the day-to-day running of corporate operations may be decentralized to the affiliate MNCs, the major decisions, such as those on corporate goals and new investments are made by the parent company.
Compensatory and contingency financing facility is intended to enhance the fund’s support to member countries in their economic growth-oriented adjustment.
The new international economic order is mainly a demand for more cash and trade concessions from the developed countries.
补：211页 1题。 226页2、4两题