商务英语复习..docx

Unit 1EquilibriumThe reason for international trade： the uneven distribution of natural resources international specialization different patterns of demand among nations economics of scale innovation or variety of styleCartel An association To increase price; To limit production; To impose an embargo OPEC;IBA;phosphate cartel;tin cartelHedge Commodity futures A contrast to buy or sell a specified amount of a commodity or financial instrument at an agreed price at a set date in the future. Why?Commodity future marketsThe London Metal Exchange；Commodity Exchange Inc；Chicago Board of TradePortfolio The group of assets，such as stocks，bonds，mutuals held by an investorJoint ventureLicensing agreements , Franchise agreementsInternational trade can be defined as the exchange of goods and services produced in one country（or district）with those produced in another country（or district）. Forms：merchandise exports and imports Service exports and imports Foreign direct investment Multinational enterprisesMerchandise exports and imports：are tangible goods set out of and brought into a country respectively. Referred to：visible exports and imports，the first type of international operation，relatively low riskService exports and imports：invisible，sales other than visible goodsExample：banking，insurance，engineering，management servicesDomestic consumptionconcomitant development of comparative advantageForeign direct investment：means ownership of assets abroad and can take the form of either direct or portfolio investment.Occurs when acquisition of equity interest in a foreign company is made.The appeal lies with the access to market and resources as well as rationalization of global production afforded by such an arrangementJoint ventureMultinational enterprises，MNEUnit 2Exporting procedures:Export license Trade negotiation Cargo readinessL/C letter of credit Customs clearanceShippingInsurance Document and Payment Surveyor and QuarantineCommodity