国际经济与贸易(第十四版)1

The Index of the >1 Better off Terms of Trade ＝1 no change <1 Worse off
Chapter 1
Dependence Degree of Trade

Conception
X M D 100% GDP
China
World
Thinking ：which condition is better for a country,big or small？
Chapter 1
Terms of trade
Terms of trade is the ratio of a country’s export price (Px) to its import price (Pm). Px TOT = Pm
•The rate at which goods are exchanged •The amount of good A given up for good B in trade.


Tangible Trade（Merchandise Trade ） Intangible Trade（ Commercial Services Trade）

According to the direction

Export & Import Transit Trade
Chapter 1

Classify
Chapter 1
Conception



International Trade(from the point of view of world) Foreign trade(from the point of view of single country) Export and Import Trading Partner
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Bilateral Trade Balances Top Surplus Countries
Country Netherlands Australia Brazil Belgium Hong Kong Trade Balance (in billions of dollars) +12.5 +7.4 +6.3 +5.5 +4.8

Exports are goods and services sold to
foreign buyers.

Exports were just under $700 billion in 2000. Exports account for about 11% of total output.
Chapter 1
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Changes in terms of trade
An improvement (or deterioration) in the terms of trade reflects an increase (decrease) in the per-unit gain from trade.
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Export and Import

Imports are goods and services purchased
from foreign sources.


The U.S. imports over $1 trillion worth of goods and services. Total imports represent 12% of total GDP.
Measurement
Welfare Effect International Cooperation (WTO)
Chapter 1
Fundamental Knowledge of IT

Conception Measurement

Volume&Value Trade Balance Terms of Trade Dependence Degree of Trade
Chapter 1
Introduction
Chapter 1
What is IT About


Its role in the systematization of Economics What does IT study?

The gain from trade The pattern of trade Policy choice: Balance between free trade and protectionism

The framework of the IT
Its role in the systematization of Economics
Microeconomics
Chapter 1
EC
Macroeconomics
International Trade International Finance
International Economics
Economic Crisis
Mutual benefit
Protectionism Liberalism
War-after
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The Framework of IT
Classical Trade Models
Theory IT Policy Neoclassical Trade Models Modern Trade Models
Chapter 1
Information Sites
/moftec_cn/

International Trade Statistics
Compiled and analyzed by the WTO's economists and statisticians, the figures provide comprehensive, comparable and up-todate statistics on trade in merchandise and commercial services for an assessment of world trade flows by country, region and main product groups or service categories.

Imports and exports are seldom equal.

The trade balance is the difference between exports and imports.
X＝Export M=Import Favorable balance (Surplus)——X-M>0 Trade surplus — the amount by which the value of exports exceeds the value of imports in a given time period.
Trade Balance of China
Billion Dollar
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Export Import Deficit or Surplus
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Trade Balances of US

The U.S. typically has merchandise deficit, a services surplus, and an overall trade deficit.
27 29 31 41 44 47 57
73 20 30 40 50 60 70 80 EXPORTS (percentage of GDP)
90
100
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External Trade Performance in China (1978-2002)
700 600 500 400 300 200 100 0
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China’s Dependence Degree of Trade
Export Import Dependence Dependence
Trade Dependence
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Classify of IT

According to the natural character
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Bilateral Trade Balances Top Deficit Countries
Country Japan China Germany Canada Mexico Trade Balance (in billions of dollars) –55.7 –49.7 –18.6 –16.6 –14.5
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The pattern of trade
Cloth IT Machine Toy Tech Soybean Tulip Oil
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Policy choice
Era
15－17c 18c 19c30s
Reason
Accumulate Expanse
Choice
Protectionism Liberalism
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Balance of trade(X-M)



Unfavorable balance (Deficit)——X-M<0 Trade deficit — the amount by which the value of imports exceeds the value of exports in a given time period Any imbalance in trade in the world must be offset by reverse balances elsewhere in the world. State(China & USA)