国贸重点知识梳理

目录

PART ONE THE INTRODUCTION ＆THE MERCANTILISM (3)

1.重商主义的特点 (3)

2.重商主义的影响 (3)

3.E CONOMIC POLICIES PURSUED BY THE M ERCANTILISTS (4)

4,T HE LIMITATIONS OF THE M ERCANTILISM (4)

5,T HE NEED FOR INTERNATIONAL TRADE (4)

6,B ARRIERS TO INTERNATIONAL TRADE (4)

7,D IFFERENCES BETWEEN INTERNATIONAL TRADE AND DOMESTIC TRADE (4)

8,T HE FUTURE TRENDS:E-COMMERCE (4)

9,V ISIBLE TRADE & INVISIBLE TRADE (5)

10,G ENERAL TRADE SYSTEM& SPECIAL TRADE SYSTEM (5)

11,T HE DEGREE OF DEPENDENCE ON FOREIGN TRADE (5)

12,T HE TRENDS OF INTERNATIONAL TRADE DEVELOPMENT (5)

PART TWO ABSOLUTE ADVANTAGE＆FACTOR PROPORTION THEORY (5)

13.T HE P RODUCTION P OSSIBILITIES F RONTIER (5)

14．T HE ABSOLUTE ADV ANTAGE (5)

15.C OMPARATIVE A DV ANTAGE (5)

16.C ONCLUSION OF THE COMPARATIVE ADV ANTAGE (6)

17.A DAM S MITH’S CONTRIBUTIONS (6)

18.M AIN IDEA OF THE ABSOLUTE ADV ANTAGE (6)

19T HE REASONS FOR DIVISION (6)

20.T HE ABSOLUTE ADV ANTAGE IS THE CHALLENGE TO M ERCANTILISM (6)

21.S UMMARY OF THE ABSOLUTE ADV ANTAGE AND COMPARATIVE ADV ANTAGE (6)

22.F ACTOR PROPORTIONS TRADE THEORY包括的核心理论 (7)

23.F ACTOR PROPORTION (7)

25.F ACTOR INTENSITY (7)

26.H-O THEOREM（靠山吃山，靠水吃水）的内容 (7)

27.H OW H-O WORKS? (8)

28.F ACTOR PRICE EQUILIBRIUM（是H-O定理的推论） (8)

29.F ACTOR PROPORTION THERMO 的结论 (9)

30.T HE L EONTIEF P ARADOX的推理方法 (10)

31.E XPLANATIONS FOR THE L EONTIEF P ARADOX为什么会有悖论？ (10)

PART THREE THE INSTRUMENT OF THE TRADE POLICY (11)

32.T ARIFF BARRIERS的定义 (11)

33.T HE PURPOSES OF TARIFFS (11)

34.F ORMS OF IMPORT TARIFF （据不同的分类标准，有不同的分类） (11)

35.N ON-TARIFF BARRIERS (13)

36.M EASURES ON EXPORT PROMOTION (14)

37.E XPORT CONTROL (15)

Part one The introduction ＆the Mercantilism

1.重商主义的特点

①the more precious metals they have, the more wealthier they will be

② a nation’s government should directly intervene country’s economic life by limiting gold export and increasing its import

③develop overseas trading monopoly

④take advantage of the colonies to provide raw materials and market for its manufactured products from the mother country

⑤protect domestic market by laying high tariff

2. 重商主义的影响

The influence of Mercantilism on British economy

①Mercantilism enhances the development of British domestic industry.

②Encourage the woolen cloth industry to obtain specie by export the woolen cloth products.

③Promote the oversea business and facilitate the shipbuilding industry.

④Mercantilism identifies strength with the accumulation of species

⑤Static view of world resources (zero-sum)

⑥pursue an excess of exports over imports

3. Economic policies pursued by the Mercantilists

①Government controlled the use and exchange of precious metals.

②Prohibition of the export of gold, silver, and other precious metals by individuals.

③Individual caught smuggling specie were subject to swift punishment, often death.

⑤Governments gave exclusive trading rights for certain routs or areas to specific companies.

⑥Exports were subsidized and quotas and high tariffs were placed on imports of consumption goods.

4, The limitations of the Mercantilism

Zero-sum game / Accumulation of currency equals to a nation’s wealth/ Economy should be under control of a nation’s government

5, The need for international trade

①Resources reasons — scarcity

②Economic reasons — economic benefits

③Other reasons (political consideration, innovation)

6, Barriers to international trade

Sociocultral barriers / Economic barriers / Trade barriers (tariffs and non-tariffs) Solution: to think globally, but to act locally

7, Differences between international trade and domestic trade

Foreign languages, laws, customs and regulations / Needed information may be hard to obtain. / Foreign currency transaction will be necessary. / Culture differences / Higher risk levels / Broader range of management skills

8, The future trends: E-commerce

Its Advantages

Low transaction cost / Integration of business procedures

Flexibility / Large catalogs

9,Visible trade & invisible trade

Visible trade: trade in goods

Invisible trade: trade in services

Four modes of invisible trade:

①Cross-border supply of service ②Consumption abroad

③Commercial presence ④Presence of natural persons

10, General trade system& special trade system

General trade system: statistics are collected based on country territory

Special trade system: statistics are collected based on customs territory

11, The degree of dependence on foreign trade

Definition:

The relative size of trade is often measured by comparin g the size of a country’s total value of foreign trade with its gross domestic product.

How to calculate:

Total value of foreign trade/GDP

The ratio of export/GDP

The ratio of import/GDP

12, The trends of international trade development

①Developed countries are still playing the main roles in international trade, while China is rising to a new force.

②Regional economic cooperation is becoming a trend.

③Trades in service and technology develop by leaps and bounds.

④The fight between trade liberalization and trade protectionism will last for a long time.

Part two Absolute Advantage＆Factor Proportion theory 13. The Production Possibilities Frontier

The production possibilities frontier is a graph showing the various combinations of output that the economy can possibly produce given the available factors of production and technology.

14．The absolute advantage

Describes the productivity of one person, firm, or nation compared to that of another. The producer that requires a smaller quantity of inputs to produce a good is said to have an absolute advantage in producing that good.

15. Comparative Advantage

①Compares producers of a good according to their opportunity cost.

②The producer who has the smaller opportunity cost of producing a good is said to have a comparative advantage in producing that good.

16. Conclusion of the comparative advantage

①Comparative advantage and differences in opportunity costs are the basis for specialized production and trade.

②Whenever potential trading parties have differences in opportunity costs, they can each benefit from trade.

③Trade can benefit everyone in a society because it allows people to specialize in activities in which they have a comparative advantage.

17. Adam Smith’s contributions

Absolute advantage / The division of labor

18. Main idea of the absolute advantage

①The division of labor will increase p.c., and this is the only reason for economic development. (needle making industry)

②The division is based on absolute advantage

The basis for international division of labor is favorable natural resources and skills of workers.

③Productive capacity and production cost are two standards for absolute advantage.

19 The reasons for division

①Enhance the productive capacity

②The skill of labors improves by specialization.

③The time could be saved during the shift of work type.

④The mechanical inventions are based on the specialization.

20.The absolute advantage is the challenge to Mercantilism

①A nation’s wealth is reflected in its productive capacity rather than the amount of the precious metals

②Specialization would generate productivity gains

③Free environment

21. Summary of the absolute advantage and comparative advantage

①The person who can produce a good with a smaller quantity of inputs has an

absolute advantage.

②The person with a smaller opportunity cost has a comparative advantage.

③Interdependence and trade allow people to enjoy a greater quantity and variety of goods and services.

④The gains from trade are based on comparative advantage, not absolute advantage.

⑤Comparative advantage applies to countries as well as to people.

22. Factor proportions trade theory包括的核心理论

Two core concepts:

factor abundance, factor intensity

Four theories：（注意理清几个理论之间的关系）

H-0 theorem / Factor price equilibrium/ Stolper-Samuelson theorem / Rybeznski theorem

23. Factor proportion

Relative proportion of two factors with a country(一国所拥有两种生产要素的比例) K/L

If a country’s K/L is larger than the other country, we say this country is capital-abundance or labor-scarce, and vice versa.

24. How to judge the abundance of factor endowment?

If (k 1/l1)(k2/l2)

Then country 1 is capital abundance, and country 2 is labor abundance.

25. Factor intensity

The proportion of two factors in producing a product.(指生产某种产品所投入两种生产要素的比例)

在只有两种商品(X和Y)、两种要素(劳动和资本)的情况下，如果Y商品生产中使用的资本和劳动的比例大于X商品生产中的资本和劳动的比例，则称Y商品为资本密集型产品，而称X为劳动密集型产品。

26. H-O theorem（靠山吃山，靠水吃水）的内容

If a country has relative capital-abundance, with low price and labor factor is scarce with high price, the country should produce and export the capital-intensive products and import the labor-intensive products. The other country 相反。

After international division, both countries are better off.

27. How H-O

works?

28. Factor price equilibrium（是H-O定理的推论）

It investigates the influence on price of productive factors by international trade and proves that free trade will lead to factor price equilibrium.

考察了国家贸易对生产要素价格的影响，论证了自由贸易将导致要素价格均等化

29. Factor proportion thermo 的结论

①Stolper-Samuelson theorem (SS)

②某一商品相对价格的上升，将导致该商品密集使用的生产要素的实际价格或报

酬提高，而另一种生产要素的实际价格或报酬则下降。

③Further conclusion of SS

国际贸易会提高该国丰富要素所有者的实际收入，降低稀缺要素所有者的实际收入。

The factor-abundance country prefers free trade, while the factor-scarcity country prefers trade barriers.

30. The Leontief Paradox的推理方法

①An empirical test of the H-O theorem

②The methodology—an input-output analysis

③A technique of decomposing a product into the values and quantities of the labor, capital, and other potential factors employed in the product's manufacture.

31. Explanations for the Leontief Paradox为什么会有悖论？

①Different skill levels of labor approach by Keesing

The finding is US exports embodied a higher proportion of category I and a lower proportion of category II workers than the exports of other countries.

②The product cycle theory产品生命周期理论

1, Basic information (hypothesis):

The imitation cycle hypothesis by Posner

An imitation lag / A demand lag

The key feature is the comparison of the length of the imitation lag with the length of the demand lag.

2, three stages of the PCT及其特点

New product stage

The product is only produced in US

Firms want to stay close to the market and detect consumer response

No international trade takes place.

Maturing product stage

Mass production techniques are to be adopted

Foreign demand for the product grows, but just within the developed countries.

US firms begins to assess possibilities of producing abroad if the cost is favorable. With direct investment by US, Europe might be able to undersell the US in this product.

Standardized product stage

Production may shift to the developing countries

③The theory of demand preference similarity（or income trade theory）

I Proposed by the Swidish economist Staffan Linder in 1961

II his conclusion:

a. the most intensive trade would exist between countries of the same income or industrialization levels rather than dissimilar levels

b. the theory implied a large part of international trade would consist of the exchange of similar or slightly differentiated goods

Part three The instrument of the trade policy

32. Tariff barriers的定义

A tariff is a tax levied on a commodity when it crosses the boundary of a customs area, which includes import tariff and export tariff.

33. The purposes of tariffs

①Raise the tax revenues for a government

②Protect the domestic market and industry

③Adjust the structure of import and export commodity by reducing or increasing the tariffs

④Regulate the international trade balance

⑤Punish exporters for unfair trade practices

34. Forms of import tariff （据不同的分类标准，有不同的分类）

According to different standards when levying on the products, it can be sorted into the following four kinds

①Specific duty 从量税

I Definition: an import duty that assigns a fixed monetary tax per physical unit of the good imported. It’s levied on the number of units not on the price or value of the imports.

II Disadvantages

Protective value varies inversely with the price of the import.

III Three ways to measure specific duty

Gross weight / Tare weight / Net weight

②Ad valorem duty 从价税

I Definition: It’s levied as a constant percentage of the monetary value of 1 unit of the imported good.

II Disadvantage

It’s hard for the customs inspectors to judge the monetary value of the imported goods.

III How to get the monetary value

If the value of the imports is 1,000,000 Yuan, and the tax rate is 10%, the tax value for import will be 100,000RMB

For Europe: CIF price

For US: FOB price

The evaluated price by customs

③Mixed or compound tax 混合税

I Definition: A duty placed on imported items and the amount of tax is based upon specific duty and ad valorem duty.

II Example: How to calculate?

If country has a mixed tax on toys. The duty consists 5% of the value plus 1.5 Yuan per toy. The compound duty of a shipment of 200 toys valued at 1000 Yuan is 1.5×200+5%×1000＝350RMB

④Alternative duties 选择税

Choose either the specific duty or the ad valorem duty according to which one is more protective.

According to the rates levied on the products, it can…

①Preferential duties特惠税

A country that is given preferential treatment according to its geographical source pays a lower tariff.

A product of colonialism, starting with the trade between suzerain and colonial countries.

②Duties under general system of preference普惠税

I A system currently in place where a large number of developed countries permit duty-free entry of a selected list of products if those products are imported from particular developing countries.

II Its three principles are:

Generalized: to all manufactured or semi-manufactured goods of LDCs.

Non-discriminatory：this treatment is given to all LDCs.

Non-reciprocal: means the LDCs will not give the developed countries same low or free tariff.

III Its major contents

Country eligibility criteria----the country must be a designated beneficiary country. Product eligibility criteria----the article or product must be considered an eligible article.

Protective measures of the importing countries

i Competitive need criterion

Products can be removed from any country if total imports from that country exceed a

certain value or amount.

ii Graduation policy

A product or all products could be removed if a country is sufficiently competitive in one or all products in the world market.

Rules of origin

Origin standard / Rule of direct consignment / Certificate of origin

③MFN duties最惠国待遇

Under the treatment, a nation should extend to all signatories any tariff concessions granted to any participating countries.

Purpose: to simplify tariff bargaining and increase the likelihood of tariff reduction

④General duties

It’s the basis for tariff bargaining.

According to the special purposes…

①Countervailing duties反补贴税

A customs levy designed to offset the effect of government payments and other extraordinary economic benefits, generally referred to as subsidies.

②Anti-dumping duties 反倾销税

Dumping: An international price discrimination: the price of a product selling in the importing country is l ess than the price of that product in the market of the exporting country.

35. Non-tariff barriers

①Quotas

I Import quotas

An import quota limits the imports of a specific commodity during a given time period.

The limit may be expressed in terms of weight, value, units or more recently in terms of a percentage of final value.

II Absolute quotas

When the imports of a specific commodity during a given time period reach the quotas, no import would be allowed.

Global quotas

Country quotas

III Tariff quotas

Tariff on a specific goods may be set at a given rate until the number imported reaches a pre-established level.

Attention: The difference between quotas and tariffs

Tariff just specifies the amount or percentage of tax but then lets the market determine the import quantity.

Quotas are more certain and precise. And provide greater flexibility in bargaining and

administration.

Inequities and corruptions often occur in the allocation of quotas.

②V oluntary export restraints

Definition: under the requirement or pressure from the importing country, the export country voluntarily regulates the restriction on the specific goods for a period of time(3 y).

③Discriminatory government procurement policy

National or local governments often have more or less explicit restrictions against the public purchase of foreign-produced goods or services.

④Arbitrary classification

The actual tax changes according to different categories which a good is classified. Arbitrary customs valuation

Transaction value / Identical goods / Similar goods / Unit price in greatest aggregate quantity / Computed value / Reasonable means

⑤National standard

Technological barrier / Green barrier

36. Measures on export promotion

①Export Credit

I Definition

The loan provided to domestic exporters or manufactures and Credit Agreement is signed between bank and seller.

Large amount of money and long-period delivery are involved.

To speed up the seller’s capital turnover

II Procedures involved:

Sign a sales contract between seller and buyer

The importer makes down payment (5%-10%)

The buyer makes partial payment (10%-15%) during the period of partial delivery The remaining money and interest are to be paid within several years after all deliveries are made

After receiving all the payment and interest from the importer, the seller returns the loan and interest to the credit bank

III Buyer’s credit

The seller’s bank provides the credit to the buyer or buyer’s bank.

The credit has to be used in the procurement of the commodities of the creditor’s country ---tied loan

IV Export credit guarantee system(出口信贷国家担保制)

定义：Exporting country establishes particular organizations to offer guarantee for the

loans provided by exporters or seller’s banks.

原因：Large amount of money is involved which can’t be afforded by pri vate insurance companies. / To cut down the risks, the underwriter should be fully aware of the political and economic conditions of the importing country and credibility of the buyer. But it’s hard for ordinary insurance companies to do that.

存在的风险：Political risks (war, revolution, riot, coup ). / Economic risks (bankruptcy of importer’s bank, abnormal fluctuation of exchange rate, inflation)

②Export subsidies：

定义：Government payments and other extraordinary economic benefits provided to home firms.

分类: Direct subsidies / Indirect subsidies

③Commodity dumping

Persistent dumping (the good is continually sold at a lower price in the importing country than in the home country) / Intermittent dumping / Predatory dumping / Sporadic dumping

④Establishment of special trade zone

Definition: Areas where foreign goods may be held or processed and then re-exported without incurring duties are called special trade zone (bonded zone).

Purpose: STZ is designed to exclude the impact of duties from the location decision. Benefits:

I Reduce logistics cost and redesign marketing approaches

II Increase employment and investment

III Goods can be reassembled and repackaged when weight becomes part of duty assessment

IV Goods can be given domestic “made-in” status if assembled in the special trade zone

⑤Export processing zone

Integrative export processing zone / Special export processing zone

37. Export control

Categories which will be export controlled:

Weapons and strategic material / Raw material needed by domestic production / V oluntary export restraint products / Commodities which is sanctioned by other countries / Special commodities (curio and precious artwork)

Reasons for export control

Short supply / National security and foreign policy / Non-proliferation