Data Watch on China's Foreign Trade and Investment in the First Eleven Months of 2011

Global Shifts1Barry EichengreenUniversity of California, BerkeleyApril 2011Shifts happen. We are currently witnessing a major shift in the balance of economic, financial and political power from the advanced countries to emerging markets – from West to East, or from the West to the Rest. This is, of course, not the first time that we have observed this kind of global shift. The rise of the West from the 15th century and its concomitant, the decline of China, was itself an earlier instance, if mirror image, of this kind of shift. (See Figure 1.) The industrial revolution, which gave rise to what is sometimes called “The Great Divergence” (the growing divergence in manufacturing capability and in capacity to project power between the first countries to industrialize, principally in Europe, and other regions) marked another global shift. It is no coincidence that the first industrial nation, Great Britain, came to control fully a quarter of the world’s population and land mass by the end of the 19th century.2 There was the shift in economic power from the pioneer industrializer, Britain, to followers like Germany that contributed to the economic and geopolitical tensions helping to set the stage for World War I. There is Charles Kindleberger’s thesis that that Great Depression of the 1930s was a consequence of the global shift in power from Britain to the United States, one that left an exhausted Britain incapable of managing the world economy and an inexperienced United States unwilling to do so.3 There is the shift after World War II toward the two great superpowers, the United States and the Soviet Union, and the dominance of the U.S. over the Western world (Figure 2). There is then the relative decline of the United States owing to catch-up growth, first in Europe, next in Japan, and finally in East Asia and elsewhere, which gradually closed the per-capita-income gap. The current shift toward emerging markets like China and India (Figures 3 and 4) is usefully seen in this light.This paper examines these earlier shifts in economic and political power and asks what light they shed on the implications of today’s global shift. I inquire into the sources of the shift, describe the tensions to which it gave rise, and ask how those tensions were managed. The answer to this last question, in two words, is “not well.” Global shifts have almost always fanned economic conflict, created problems for economic management, and heightened diplomatic tensions. Sometimes they have erupted into military conflict. While the same need not be true this time, there is reason to worry that the current global shift is a source of economic and political risks. It is past due time to start thinking about both the nature of those risks and mechanisms for managing them.The causes and consequences of changes in economic fortune, both relative and absolute, probably constitute the central question of all of economic history, if not all of economics. One paper can do justice to neither the topic nor the literature. Rather than attempting to be comprehensive, I focus on a number of specific cases, those mentioned in the opening paragraph. While this requires me to touch on aspects of nearly a millennium of human history, my focus is mainly on the last two centuries, the period since the establishment of the Bank of Finland, the1 Prepared for the Bank of Finland’s 200th anniversary symposium, Helsinki, May 5-6, 2011.2 And to “rule the waves.”3 As originally advanced in Kindleberger (1973).event providing the occasion for this symposium. Coverage of these episodes is also necessarily selective and designed to highlight the themes sounded above.1.The Rise of the WestEconomic historians are unanimously of the view that Ming China was the leading economic power in 1400. No other country constructed the equivalent of the Great Wall or the Grand Canal. No other state or empire had a standing army with a million troops. China was known for its technological prowess and precocity – for its mastery of gunpower, printing, paper-making, and compasses. It was known for the long-distance commercial voyages of the great admiral Zheng He whicht served commercial purposes (many of his ships had private cabins for merchants) and also sought to extract tribute from other lands bordering the Indian Ocean.Two factors then combined to set on foot a global shift. First, the Ming Dynasty turned inward. Zheng He’s fleet was dismantled. Limits were placed on the size of newly-constructed ships. By the end of the 15th century, subjects of the Chinese empire were forbidden to construct ocean-going ships or to leave the country. The overland route west, the Silk Road, was all but closed to traffic. The Chinese met early European incursions by limiting contact to a handful of treaty ports.Why the Mings turned inward is disputed. One view is that curtailing contact with the outside world was a low-cost way of dealing with piracy and the Uighurs. Another is that from the middle of the 15th century the Mings had bigger problems close at hand, like their border dispute with what is modern-day Vietnam. Still another is that this was the ill-advised decision of a clutch of conservative officials concerned about the impact on China of foreign influence.But there is little disputing the consequences. China’s inward turn created space for other powers. Lack of contact with foreign ideas, the absence of foreign competition, and the smothering effects of tradition set China up for a long period of economic stagnation.The coincident factor was improved Western sailing, navigation and military technology. The key innovation was the caravel, a sailing ship developed by the Portuguese and then the Spanish that combined lateen (triangular) rigging, making it very maneuverable and able to sail up rivers, with square sails that made it very fast and able to cross oceans. Lateen sails came from the Arab lands, square ones from Northern Europe; the Iberians were strategically placed between the two influences. New navigational techniques developed by Arab, Indian and Jewish astronomers but systematized by the Portuguese allowed European ships to go anywhere. Finally, the Portuguese were quicker than others to adapt the use of canon to ocean-going vessels.Why Portugal, one might ask? As with the Internet, public-sector R&D played a role. Prince Henry the Navigator of Portugal founded a maritime academy that fostered many of these innovations. He established an observatory at Sagres to construct accurate tables on the sun’s declination.4The early voyages down the west coast of Africa were sponsored by the4From 1500 or so there was a growing accumulation of navigational data in a variety of countries (Spain, France, England), all of which saw the publication of practical pamphlets and guides on the subject.Portuguese crown (just as Columbus’ pioneering trans-Atlantic voyage was underwritten by Ferdinand and Isabella of Spain). The result was the Age of Exploration (sometimes referred, in less politically-correct terms, as the Age of Discovery), in which the Portuguese and Spanish found their way around Cape Horn to Asia and then across the Atlantic to the Americas.5While the Portuguese had a head start, the Spanish had a larger economy. The two quickly came into conflict over trading posts, trade rights, and other commercial prerogatives. There was an effort to divide the spoils – to create separate spheres of influence not unlike the Western and Soviet blocs during the Cold War or the possibility, sometimes mooted today, of Chinese and U.S. spheres of influence in Asia and the West. The first such effort, the Treaty of Tordesillas signed by Spain and Portugal in 1494, divided the newly discovered territories of Africa and the Western Hemisphere. The dividing line ran north-south along a meridian roughly down the middle of the Atlantic before bisecting what became modern-day Brazil. This was followed in 1524 by the Treaty of Zaragoza, which similarly divided Asia and the Pacific along a north-south meridian running roughly through the middles of Japan and Australia.6An unintended consequence of this spheres-of-influence strategy may be to permit the regional hegemon to grow fat and lazy. So it is said of Spain and Portugal following the conclusion of the two treaties.7This made room for hungry upstarts: England and theNetherlands. The Iberians were followed into the Indian Ocean by first the Dutch and then the English: the Dutch ended up controlling trading rights with much of modern-day Indonesia, the English with India. In the Western Hemisphere the Iberians were flanked to the north by the Dutch and, more importantly, English and French, who built their commercial empires on the basis of shipping and finance but in addition had manufactures (woolens) to export.The upstarts also relied on strong institutions – national champions that enjoyed public-sector support. In 1602 the Dutch States General established the world’s first joint-stockcompany, the Dutch East India Company, granting it not just a monopoly of trade with Asia but also the power to establish fortified trading posts, negotiate treaties, and wage defensive wars.8 The company established a centralized hub in Batavia (now Jakarta), organized nearly 5,000 voyages, and paid its shareholders an annual dividend approaching 20 per cent for twocenturies.9 5 Why Europe, more generally, one might ask? Was the Renaissance conducive to the systematization ofknowledge? Did the Black Death, by raising land-labor ratios, create surplus agricultural production that could be traded and higher living standards? These questions presumably deserve more than a footnote. At virtually the same time Queen Elizabeth granted a royal charter to the (English) East Asia Company, which like its Dutch competitor acquired monopoly rights and, eventually, a 6 The prod for this treaty was the conflict between the two countries over Malacca and the surrounding “spice islands” (the source of the region’s valuable spices). Portugal arrived first, establishing a fort at Malacca in 1511. Spain then arrived in the Moluccas from the east in 1521 as part of Magellan’s famous attempt to circumnavigate the globe, and Charles V sent another expedition to colonize the islands. There followed a year of fighting between the two countries. In 1524 the two kingdoms agreed to resolve the issue by drawing another meridian that would divide the world into two equal-sized hemispheres. To get it right, each crown appointed three astronomers, three pilots, and three mathematicians. 7 See Kindleberger (1994) and Landes (1998). 8 This, recall, was the age of mercantilism, when states sought to monopolize the trade of a region so as to generate monopoly profits which could then be used to strengthen the state’s finances and its ability to wage war. 9 Now there’s a risk premium for you.modern board of directors.10 Using Surat in India as a transit point between the Spice Islands and Europe, the East Asia Company was responsible for Britain establishing its foothold in India. These two trading concerns, as joint-stock companies and public-private partnerships, were important institutional innovations. They were the agents of the power shift from Southern to Northern Europe and of Europe’s growing influence and control over much of Southern Asia.This situation – two aspirants infringing on the turf of two established powers, and the Europeans all seeking to establish exclusive access to the minerals, precious metals, and high-value crop-lands of other regions (spice- and sugar-growing land in particular) – was a recipe for conflict among the imperialists and between the Europeans and the indigenous peoples with whom they made contact.11 In addition to nimble sailing ships and canon, the Europeans had on their side metallurgy (which furnished them with efficient swords and daggers) and infectious disease (which desimated previously isolated indigenous populations). In turn the imperialists were weakened by almost continuous internecine conflict. The rising Northern European powers fought for space and influence with both their Iberian predecessors and one another. When the English arrived in the Bandas and Moluccas, islands where cloves and nutmeg were grown, the Dutch drove them out by force.12 The Dutch fought with Sultan Agung, who headed a powerful state in central Java, over the establishment of Batang. They took Ceylon from Portugal along with most of that country’s Indian forts and trading stations. Similar stories could be told about the Western Hemisphere. Cooperation would have meant more surplus for the Europeans and indigenous peoples alike. But it was not to be.The Dutch and English, having come into conflict over foreign policy and commercial interests (it is not clear that there was a clear separation between the two matters in this period), skirmished in Europe as well. The Dutch also attracted the enmity of France, which sided with England in its mid-17th century conflict with the United Provinces and then used import tariffs to protect its infant sugar and cloth industries from Dutch competition.13 In the 18th century the French and English clashed over control of North America in the French and Indian Wars.14 Military means were used repeatedly to bolster trade and create mercantilist preserves free of foreign competition. One worries that it could happen again.2.The Great DivergenceThe industrial revolution transformed the world economy by launching per capita incomes on a sustained upward path unlike anything seen previously. It also constituted a global shift par excellence. It widened the gap in economic and military capabilities between European countries whose ambitions had been restrained by a fragile balance of power. It also transformed the conduct of warfare. Within Europe, Germany’s comparative advantage in the production of steel and, by implication, the construction of railways gave it a decisive advantage over France in the Franco-Prussian War of 1870-71. In the colonies, the invention of the Gatling gun, another10 A Royal African Company was later formed to take charge of trade in slaves, ivory and gold in Africa.11 The scramble for scarce resources and associated possibility for conflict will resonate, presumably, with Chinese officials concerned about their country’s dependence on imported raw materials.12 Helped importantly by their native allies.13 This, from the mid-17th century, being the age of high mercantilism.14 Leading to the Seven Years’ War in Europe and indirectly, it is often said, to the French Revolutionary Wars.byproduct of the industrial revolution, gave the Europeans a powerful advantage in their effort to secure colonial control of additional portions of Africa and Asia.15Thus, it is no coincidence that the industrial revolution was followed by the new imperialism of the second half of the 19th century: by the partition of Africa by the European powers and their further colonial expansion into Asia. Crude Marxian accounts sometimes explain this new wave of colonialism and imperialism as a function of the voracious appetite of 19th century industrial economies for raw materials and the desire of governments to secure exclusive access to the same.16 But modern economic histories cast doubt on the notion that empire paid: any benefits to the imperialists, including those associated with favored access to raw materials, were swamped by military and other costs.17What industrialization did was greatly enhance the ability of industrial nations to project power and control other lands.18 With the railway and the steamship (practical for ocean-going voyages in the second half of the 19th century, not incidentally coincident with the new imperialism), it became possible to deploy military force more quickly. Machined canonry (now breech rather than muzzle loaded) and rifles (notably the caplock rifled musket) were for the 19th century what steel swords and daggers had been for the 16th and 17th. These innovations were decisive, for example, in the First Opium War of 1839-42.19 With the Great Divergence in per capita incomes, it became possible for the industrial powers to raise larger and better equipped standing armies. European control of the interior of Africa or India might have been paper thin, but it would have been unimaginable in the absence of industrialization. Like 21st century Europeans who prefer to take part of their higher living standards in the form of increased leisure time, their 19th century predecessors sought to take a part in the form of colonial conquest.This desire was a source of frustration to countries late to the great global game, Germany in particular. With the growth of its industry, and its comparative advantage in military-relevant heavy industry in particular, Germany became as capable as any European power at mobilizing and projecting force. But the process of industrialization reached critical mass later than in Britain or France.20 German unification had to wait for Bismarck to incorporate the southern states. Thus, by the time Germany emerged as an industrial and military power of the first rank, the process of colonial partition was largely complete.Germany therefore had to content itself with a few remaining scraps in West Africa, East Africa and the Pacific. It pushed against French and Spanish control in North Africa, precipitating the First Moroccan Crisis in 1905 by insisting that France adopt an open door policy for its protectorate, to little avail. It was left to advance its expansionist aims in and around Europe, notably attempting to expand its influence over the declining Ottoman Empire by completing the Berlin-Baghdad Railway, something that in turn became a geopolitical15 The descendant of the hand-cranked Gatling gun was the automatic Maxim gun, invented in 1884.16 An interpretation that has obvious implications for China’s actions in Africa and elsewhere in the developing world. There is also the more sophisticated variant of the hypothesis due to Eric Williams (Williams (1966).17 For the balance sheet see Davis and Huttenback (1986).18 David Landes in his 1998 book and earlier writings makes this argument most forcefully.19 See for example Hacker (1977).20 The classic account being Clapham (1936).flashpoint.21 Some accounts describe Germany’s ambitions in terms of the need of an industrial economy to secure a reliable supply of energy and raw materials (oil in the case of the Ottoman Empire), something that will resonate with observers of China today. Most, however, understand it more in terms of naked imperial ambition.22 Be this as it may, the result was the tensions and tangled alliances that set the stage for World War I.Finance was enlisted not just in the construction of the Berlin-Baghdad Railway but more widely in the effort to advance geopolitical goals. Then like now, that influence might be more subtle than overt. Modern observers alarmed by the rise of sovereign wealth funds wonder whether those funds’ governmental masters are encouraging them to invest in ways that are geopolitically expedient as well as economically remunerative. Before World War I, they saw governments, like those of France and Germany, encouraging private lending to Czarist Russia or the Ottoman Sultan with the goal of alliance building. Hints were dropped that the government would take it as a favor if an investment bank underwrote bond issues on behalf of such borrowers on favorable terms.23 Sometimes governments might intervene directly to encourage or halt issuance on behalf of foreign governments. Between 1897 and 1901, for example, the French government intervened with the Crédit Lyonnais, discouraging it from issuing bonds on behalf of the Russian government until the Russian and French general staffs had agreed on the particular strategic railways to whose construction the proceeds would be put.Employing finance for military and strategic purposes meant that it was not always allocated in ways that maximized returns. The fact that the French and German governments regularly intervened in the operations of the Paris and Berlin markets, whereas the British government employed a more hands-off attitude, helps to explain why the rate of return on French and German lending was generally lower than comparable returns on British overseas investment.24 While financial might creates strategic opportunities for governments, in other words, exploiting those opportunities also has costs.25With governments intervening in private financial affairs before the fact, they also felt some compulsion to come to the aid of the bondholders if and when things went wrong. Gunboats might then be dispatched to collect payments from defaulting debtors. Just how But while Mitchener and Weidenmier (2005) argue for the importance of these “supersanctions,” they identify just 6 episodes of direct military intervention out of 43 default episodes spanning the 19th century. Other authors argue that when governments intervened militarily in response to default, they were in fact using financial events as a pretext for intervention desired on other grounds. They suggest that other mechanisms – ex ante monitoring by investment banks with reputations to protect and ex post exclusion from the bond market by a cohesive cartel of issuers – were more important for enforcing contracts.2621 See Jastrow (1917).22 Something to which today’s China, which prefers to keep a relatively low-key profile internationally, has not obviously fallen prey.23 For accounts of the practice see Feis (1930).24 This point is argued and documented in Fishlow (1986).25 Something for the managers of sovereign wealth funds to bear in mind.26 See inter alia Mauro, Sussman and Yafeh (2006) and Flandreau and Flores (2007).3. The Rise of the United StatesThe other global shift at this time was the rise of the United States. From an economic speck at the outset of the 19th century, the U.S. by 1914 had grown into the world’s largest economy and leading exporter. But while economic change was rapid, political adjustments lagged behind. The North American colonies had been settled by Europeans who had sought to distance themselves from the Old World. George Washington in his farewell address had emphasized the desirability of “as little political connection as possible” with foreign nations (while at the same time acknowledging the value of “extending” commercial relations).Isolationist instincts, in other words, ran deep. Even the Monroe Doctrine, which warned the European powers against attempting to advance their colonial ambitions in the country’s Latin American backyard, can be interpreted in isolationist terms: it promised as a quid pro quo that the U.S. would not participate in wars among the European powers. The notable exception was U.S. occupation of the Philippines resulting from the Spanish-American War. That the precipitating event that led the U.S. to disregard its long-standing tradition of non-interventionism was an incident on an island, Cuba, a scant 90 miles from the rising power’s shores is perhaps worth recalling (Taiwan being only 81 miles from the Chinese mainland).27 In defeating the Spanish, the U.S. in fact took control not just of the Philippines but also Guam and Puerto Rico. Whether this was a momentary fall from grace or an emerging economic power for the first time displaying geopolitical ambitions is disputed.28But there is no question that the U.S. was, by this time, seeking to more actively assert its economic interests. Before long it was seeking to alter the structure of international markets so that they worked to its advantage (or at least didn’t disadvantage it to the same extent). A long-standing bone of contention was that the trade credit required by U.S. exporters and importers was almost entirely denominated in sterling and sourced in London. This put U.S. producers and merchants at a competitive disadvantage; not only did they have to pay two commissions, one to their local bank and the other to its London correspondent, but they also bore the exchange risk. One of several rationales that combined in 1913 to cause the establishment of the FederalReserve System (overcoming another deep-seated American aversion, this one to concentrated financial power) was the desire to create a market in securitized trade credits (“tradeacceptances”) denominated in dollars and sourced domestically.29Almost immediately the Fed took steps to develop this market, passing the necessaryregulations while discounting acceptances and purchasing them outright. As a result of this initiative (and as a byproduct of disruptions to the London market caused by World War I), in a scant ten years the acceptance market in New York matched its rival in London in both size and liquidity.30 27 Cuba not having achieved independence in the second decade of the 19th century, it was effectively exempted from the Monroe Doctrine. The dollar became as a true international currency; by the mid-1920s central banks 28 On the first view, see Bemis (1962); proponents of the second include Kennedy (1987), Mead (1987) and Nye (1990). 29 As emphasized by Broz (1997). 30 The relevant document is provided by Eichengreen and Flandreau (2010).around the world held as large a fraction of the foreign exchange reserves in dollars as in sterling.31The U.S. competed with Britain throughout the 1920s in seeking to bring more countries into its financial orbit. As governments prepared to return to the gold standard, the Fed, in the person of Benjamin Strong, influential governor of the Federal Reserve Bank of New York, encouraged them to contract stabilization loans in New York rather than London.32 Receiving a stabilization loan was the first step in establishing ongoing relations with a financial center. But while he governor himself may have been strongly internationalist in orientation, the U.S. otherwise reverted to its previous stance of quasi-isolationism following the war. The Congress famously refused to approve President Wilson’s request to join the League of Nations. Not wishing to become entangled in the reparations dispute, the U.S. did not join the Bank for International Settlements in 1930 (although it did provide finance for its early operation). The country’s diplomats did little to slow the progress of German rearmament or otherwise to do anything to prevent the war clouds from gathering over Europe.U.S. tariff policy was inappropriate for what was now the world’s leading trading nation, a country with an interest in the maintenance of an open trading system that should have led by example. Here the greater villain was probably the Fordney-McCumber Tariff of 1922 rather than the Smoot-Hawley Tariff of 1930, but neither helped.33 The mistake was to allow trade policy to be politicized. Herbert Hoover ran for the presidency in 1928 on a platform that promised to raise tariffs on imports of farm products, agricultural prices having been depressed for much of the decade. Once the tariff bill got to the Congress, there was nothing to prevent members from adding all manner of protection for manufactures so as to build as wide a coalition as possible.34Yet to say that the United States disregarded the case for international economic cooperation would not be accurate. The Fed famously kept interest rates low in order to encourage capital to flow toward Britain and aid that country’s efforts to return to gold in 1924-5. It made a credit line available to the Bank of England.35 It hosted a meeting of central bankers on Long Island in 1927, where other countries holding sterling as reserves committed not to taking gold from the British. In the summer of 1931, with the spread of the financial crisis, President Hoover offered a moratorium on inter-allied war debt payments in order to facilitate a moratorium on German reparations.31 This from a starting point in 1914 where the dollar accounted for a negligible proportion of global reserves (Eichengreen and Flandreau 2009). Elsewhere I have suggested what the U.S. accomplished in ten years – moving from a point where its currency played no international role to one where it was the leading invoicing, investment and reserve currency – may also be possible for China (Eichengreen 2011).32 Chandler (1958) and Clarke (1967) document his efforts.33 With the U.S. not a member of the League of Nations, the League’s efforts to negotiate a tariff truce in the 1920s were to little avail.34 See Schattschneider (1935). The Fordney-McCumber Tariff had similarly been intended to raised depressed farm-gate prices but had also been expanded to provide protection for manufactures by the time it was passed by the Congress. When efforts turned to rolling back tariffs in the 1930s, a change in institutions, in the form of the Reciprocal Trade Agreements Act, made a substantial difference.35 One that, in the event, was not drawn.。

16China’s Foreign Trade Maintains A Stableand Upward TrendForeign trade situation of China in January-AprilAccording to statistics gathered by the Customs House, in January-April 2018, China’s total import and export value reached RMB 9.11 trillion, with an increase of 8.9% year- on-year. Within this figure, exports reached RMB 4.81 trillion, with an increase of 6.4%, and imports reached RMB 4.3 trillion, with an increase of 11.7%. The surplus was RMB 506.24 billion, which was narrowed by 24.1%. China’s foreign trade continued to maintain a stable and upward trend.In terms of commodity structure, exports of mechanical and electronic products registered RMB 2.84 trillion, up 8.7%, with the proportion of same to total exports rising by 1.3% to 59.1% compared with that of the same period last year. Among these, exports of integrated circuits, automobiles and mobile phones grew by 22.3%, 17.1% and 13.5% respectively. In terms of imports of commodities, imports of 10 kinds of commodities including natural gas, crude oil, coal and copper concentrate increased by 36.4%, 8.9%, 9.3% and 9.3% respectively. Imports of mechanical and electronic products reached RMB 1.91 trillion, up 15%, and imports of automobile reached 370,000, up 2.1%.In terms of business entities, the exports of private enterprises reac hed R M B 2.26 t r i l l ion, up 9.6%, accounting for 46.9% of the total, which is 1.3 percentage points higher than previously. The private enter pr ises continued to be the largest business entity in terms of exports. The exports of state-owned enter prises reached R MB 521.9 billion, up 8%, accounting for 10.9%of the total. The exports of foreign-invested enterprises reached RMB 2.03 trillion, up 2.9%, accounting for 42.2% of the total.In terms of the trade mode, imports and exports of general trade reached RMB 2.71 trillion, up 12.1%, accounting for 56.3% of the total, which is 2.9 percentage points higher than previously. Exports of processing trade reached RMB 1.54 trillion, up 0.5%, accounting for 32% of the total. The exports of small-scale border trade reached RMB 62.25 billion, up 20.9%, accounting for 1.3% of the total.In terms of the international market, imports and exports to the countries along the Belt and Road routes amounted to RMB 2.51 trillion, up 11.6%, which is 2.7 percentage points higher than the overall speed. China’s exports to traditional markets such as the US, the EU and Hong Kong grew by 6.6%, 5.7% and 7.2% respectively.In terms of domestic regions,the export growth in the central and western regions reached 17%, which is 10.6 percentage points higher than the overall speed, with the proportion increasing by 1.5 percentage points to 16.4%. Export growth in the eastern region reached 4.6%,accounting for 83.6% of the total.Performance of consumption marketAccording to statistics gathered by the National Bureau of Statistics, the retail sales of national social consumer goods in January-March amounted to RMB 9.0275 trillion, up 9.8% year-on-year. The retail sales in March grew to 10.1% year-on-year, which was 0.4 percentage points faster than that in January-February. The retail sales of major retailing enterprises monitored by MOFCOM grew to 4.5% year-on-year, which was 0.4 percentage points higher than that over the same period of last year.17China’s consumption market in the first quarter saw a steady rise, with consumption increasingly pulling the economic growth and the contribution rate of consumption to economic growth reaching as high as 77.8%. Its characteristics are listed below:1. Online sales maintained rapid growth. The retail sales of commodities online reached RMB 1.5 trillion in the first quarter, up 34.4% year-on-year, accounting for 16.1% of total retail sales, 3.7 percentage points higher than that over the same period of last year. The growth of online retail sales of key retailing enterprises monitored by MOFCOM was 18.8, 16.1 and 14.2 percentage points higher than that of stores, supermarkets and shopping malls respectively.2. There was a pick-up in offline consumption. As bricks-and-mortar retailers were upgraded and transformed, traditional entities constantly adjusted their commodity structures and business types, and conducted innovation in supply chains, channels and service modes while offline retail sales continuously increased. In the first quarter, the sales of stores, supermarkets, shopping malls and convenience stores monitored by MOFCOM grew to 1.7%, 4.4%, 6.3% and 7.2% respectively year-on-year, 0.8, 0.6, 0.5 and 0.4 percentage points higher than that over the same period of last year.3. Commodity consumption upgrading never stopped. Demands for intellectual energy-saving and environmental protection increased, leading to fast growth of the sales of high quality upgraded goods. The sales of automobiles above the designated limit in the f irst quarter grew to 7.4% year-on-year, 5.1 percentage points higher than that over the same period of last year, and the sales of new energy automobiles grew 154%. Sales of cosmetics, daily necessities, home appliances, and clothes above the designated limit grew to 16.1%, 12.3%, 11.4% and 9.8% respectively, with an increase of 6.2, 3.8, 3.4 and 3.6 percentage points over the same period of last year.4. Service consumption quality was promoted. With the rapid growth in the catering, tourism and entertainmentindustries, their servicesare marked with the characteristics of high quality and being finely divided. The tourism market is booming, ice and snow sports, parent-child visits, fruit-picking and flower tours have become hot spots, and have been ranked the top in the list of traveler’s favorites. The catering revenue in the first quarter grew to 10.3% year-on-year. Among these, those above the designated unit grew to 8%, 0.7 percentage points higher than that over the same period of last year. The national box office reached RMB 20.22 billion, up 39.8% year-on-year. In particular, RMB 5.72 billion was registered during the Spring Festival and with RMB 10 billion being taken in February, making two new records in a row.5. Consumption prices rose steadily. The CPI in the first quarter was up 2.1% year-on-year, with a year-on-year increase of 0.7 percentage points. The prices of farm products monitored by MOFCOM increased by 1.1% year-on-year, which was 5.0 percentage points higher than that over the same period of last year. Prices in March decreased by 5.4% month-on-month, ending the upturn in momentum of same over 7 consecutive months, among which vegetables, pork and eggs stood out with a drop of 12.3%, 12.2% and 7.6% respectively month-on-month.Wit h t he steady g row t h of the national economy, the supply-side structure reform was deeply advanced, the income of urban and rural residents grew rapidly, policies regarding consumption expansion were gradually implemented, and the consumption structure was upgraded. The consumption market is expected to maintain rapid growth.Online sales market in the first quarterAccording to statistics collected by the State Statistics Bureau, in the first quarter of 2018, China’s online retail reached RMB 1931.8 billion, up 35.4% year-on-year. Online sales of national entities reached RMB 1.4567 trillion, up 34.4% year-on-year, 24.6 percentage points higher than that of the total retail sales of consumer goods, and accounting for 16.1% of the total retailing of socialconsumption goods, which greatly drove up the consumption growth.China’s online sales market in the first quarter mainly showed the following features:1. The trend of improvements in quality and upgrading was obvious. The monitoring of business big data showed that the consumption of culture, health and tourism increased sharply, and the increasing sales speed of books and videos, stationery and Chinese and Western medicines was over 50%, showing that the consumption needs of the market have been changing quickly and that cultural implications and experience consumption have become important factors inf luencing the consumers’ choices.2. Rural online sales enjoyed rapid growth. According to the monitored business big data, the national rural online sales in the first quarter of 2018 was RMB 287.82 billion, up 34.7% year-on-year, accounting for 14.9% of national online sales. Among these, the online sales of physical goods reached RMB 225.23 billion, up 32.2% year-on-year, and online sales of non-physical goods was RMB 62.59 billion, up 38.9% year-on-year. From the regional perspective, rural online sales in the eastern, central, western and northeast regions were RMB 207.94 billion, RMB 41.35 billion, RMB 31.15 billion and RMB 7.39 billion respectively, up 32.5%, 40%, 43.9% and 31.8% respectively year-on-year, accounting for 13.5%, 24.5%, 19.1% and 23% respectively in their own regions.3. E-commerce for second-hand goods promoted green development. Second-hand e-commerce grew rapidly in the first quarter and the online and offline exchange for untraded items was active, which helped the docking between the supply and demand of unused social resources and strongly promoted green and cyclic development.4. Social e-commerce helped enlarge the market. In the first quarter, through the spread of acquaintances on social platforms, group buying and other modes, many consumers in the Midwest and rural areas and middle-aged and elderly consumers were attracted to online purchases,allowing more。

英语跨境电商英语30题1. In cross-border e-commerce, “Fulfillment Center” means _____.A. 销售中心B. 物流中心C. 客服中心D. 采购中心答案：B。

“Fulfillment Center”常见释义为“物流中心”，A 选项“销售中心”常用“Sales Center”；C 选项“客服中心”常用“Customer Service Center”；D 选项“采购中心”常用“Procurement Center”。

2. Which of the following is the correct term for “海关申报” in cross-border e-commerce?A. Custom DeclarationB. Custom ReportC. Custom ApplicationD. Custom Registration答案：A。

“海关申报”常见表达为“Custom Declaration”，B 选项“Custom Report”通常指“海关报告”；C 选项“Custom Application”一般指“海关申请”；D 选项“Custom Registration”常表示“海关登记”。

3. In cross-border e-commerce, “Product Listing” refers to _____.A. 产品清单B. 产品描述C. 产品上架D. 产品评价答案：C。

“Product Listing”常见释义为“产品上架”，A 选项“产品清单”常用“Product List”；B 选项“产品描述”常用“Product Description”；D 选项“产品评价”常用“Product Review”。

4. What does “Drop Shipping” mean in cross-border e-commerce?A. 直接发货B. 代发货C. 批量发货D. 延迟发货答案：B。

一、翻译题（10分）1、骄必败。

正确答案Pride goes before a fall2、无论你将从事哪一门自然科学的研究，对基本化学知识的了解都是十分必要的。

（discipline，pursue)正确答案Regardless of the discipline of natural science you wish to pursue，the basic knowledge about chemistry is necessary3、At times，the crews could work only three hours a day because their activities interfered with the running of the subway.正确答案有时，施工队一天只能工作三个小时，因为他们的工作影响地铁的运行4、Man's knowledge about himself and nature has grown into a variety of sciences.正确答案人类关于自身和自然界的知识，已经发展成了各种门类的科学5、他专门从事进出口贸易。

正确答案He specializes in foreign trade二、英译汉（4分）6、Through my association with Americans during the past six years I hadgradually adopted some of their ways.正确答案在过去六年与美国人的接触中，我已渐渐接受了他们一些行为方式7、At times，the crews could work only three hours a day because their activities interfered withthe running of the subway.正确答案有时，施工队一天只能工作三个小时，因为他们的工作影响地铁的运行三、写作题（30分）8、要求在30分钟内，根据下面所给的题目和中文提纲用英语写出一篇不少于80词的短文。

英语作文《外贸有望实现稳定增长》带中英翻译China's foreign trade is expected to post stable growth this year, despite unprecedented challenges, including high raw material costs and fierce competition from Southeast Asian countries, analysts and trade experts said on Wednesday.分析师和贸易专家6月29日称，尽管面临史无前例的挑战，包括原材料价格高企和来自东南亚国家的激烈竞争，我国外贸今年有望实现稳定增长。

The profitability of exporters in most sectors has improved during the second quarter, according to a survey by the China Council for the Promotion of International Trade in Beijing. Major challenges facing foreign trade enterprises, such as high costs of logistics, have eased, the survey showed.贸易促进委员会的一项调查显示，今年二季度大部分行业出口利润情况比一季度好转，物流成本高企等外贸企业面临的主要问题有所改善。

"It is worth noting that trade data got better not only from quarter to quarter, but also from month to month during the second quarter. June is likely to have witnessed a strong foreign trade rebound and more energetic economic recovery," said, a researcher at the Studies at Renmin University of China.研究员指出，值得注意的是外贸数据不只是相对上季度有所好转，而且二季度的每个月的数据都比前一月更好。

11年理论21．What is the most appropriate term when the seller must pay the cost and freight necessary to bring the goods to the named port of destination by a roll-on车货齐运的;滚装的/roll-off vessel?（）A．FOB B．FCAC．CIF D．CPT22．When the seller pays for the goods to be loaded on board the container ship, but does not pay freight or insurance, what is most appropriate term? （）A．DDU B．CFRC．FCA D．CIF23．According to INCOTERMS 2000, when the seller is responsible for the arrival of the goods at the agreed place or point of destination, the corresponding trade terms are following except （）.A．DDU B．DDPC．CFR D．DEQ24．An insurance agreement is called an（）.A．insurance policy B．insurance contractC．insurance cover D．insurance document25．What is the name given to the sum of money which a person agrees to pay to an insurance company?（）A．compensation B．commissionC．insurance value D．premium26．“Financial documents”means bills of exchange, promissory notes, （）or other similar instruments used for obtaining the payment of money.A．invoices B．deposit receipts银行存单C．checks D．bills of lading27．The war risk is considered to be the （）.A．Free of Particular Average B．With AverageC．special additional risks D．general additional risks28．The irrevocable L/C can（）.A．be amended or canceled without notice to the beneficiaryB．be amended or canceled if the buyer notifies the sellerC．neither be amended nor canceled without agreement of all partiesD．be amended but not be canceled by an applicant29．Bank of China informs the beneficiary, a Chinese import and export company that a foreign bank has opened a letter of credit in his favor. The bank does not add its engagement by informing the beneficiary. The Bank of China is acting as （）.信用证有关当事方A．the issuing bank B．the advising bankC．the confirming bank D．the negotiating bank30．Which of the following payment modes may bring the highest risk to a seller?（）A．D/A B．D/P after sight远期付款交单C．D/P at sight D．T/T in advanceQuestions from 31 to 35 are based on the following passage:There are a lot of “markets”. Some markets are local; you may be willing to compare prices for fruits and vegetables in a few shops in your local area, but you would be unwilling to go across the city to find out more information. Some markets are national. Many firms sell goods across the country. Some markets are global or international. Increasingly, more and more countries are involved in the world economy, whether they know about it or not.However, there are many other markets: labor markets for job seekers, supermarkets for grocery shopping, foreign exchange market, capital market, real estate markets and so on. And we must not overlook the fact that many services such as banking, insurance are also bought and sold on a worldwide scale.But what is a “market”? Most people would say, “A market is a place where enough buyers and sellers meet face to face, so that a market price for goods and services can be determined.”However, with rapid growth of telecommunications, it is no longer necessary for buyers and sellers to physically meet to form a market.You may hear the terms “global market” or “global economy”. What do those terms mean to you? What do they mean to business today? Thanks to the Information Age we are seconds away from the rest of world. Business everywhere recognizes that they can expand their market to anywhere and do business at any time because of the Internet. Now, the Internet is the fastest growing market in the world today, yet buyers and sellers don’t even have to leave their own homes to transact business.In the modern world, a market can take many forms. Generally speaking, a market may be housed in a place, or it may exist only in people’s minds. And a market can be any place or process that brings together buyers and sellers with a view to agreeing to a price.31．Which of following markets is not mentioned in the passage? （）A．Asian market B．international marketC．national market D．local market32．The stock market, banking services market and capital market can be described as（）.A．supermarket B．financial marketC．labor market D．real estate market33．Which of following is the fastest developing market according to the passage?（）A．home market B．labor marketC．the Internet D．international trade market34．Which of following statements is True according to the passage?（）A．You are willing to find fruits and vegetables at a lower price all over the country.B．If a firm sell its products across the country, then it is doing international business.C．Insurance can not be sold on a worldwide scale.D．Buyers and sellers can do business without meeting face to face.35．In the modern world, what a market can take?（）A．A market can be housed in a place.B．A market can exist in people’s mind.C．A market can be a place where buyers and sellers meet for bargain.D．above allQuestions from 36 to 40 are based on the following passage:China’s trade volume surged in 2010. The development wasn’t only in quantity, but also in quality —namely structure diversification多样化;经营多样化.The European Union, the United States and Japan remained China’s top 3 largest trading partners in 2010.But trade volumes between China and other emerging economies increased also. Bilateral trade volumes between China and other BRIC nations —Brazil, Russia and India —all jumped more than 40 percent. That made India China’s tenth largest trading partner.Huang Guohua, Statistics Department（统计部）Director主管;署长;局长;处长;主任of General Administration of Customs said “Trade volume between China and emerging economies increased faster than that with the traditional market. It indicates that China’s foreign trade is diversifying, and showing less dependence on the traditional partners. It’s a good way to reduce risks.”Data also shows that foreign trade volumes developed dramatically in China’s middle and western areas last year. Although the southern province of Guangdong still topped others in the total volume of import and export.Huang Guohua said “The export volume of middle and western areas surged over 40 percent year on year in 2010. The speed was 10 percentage points higher than the country’s total. It indicates that industrial structure has improved in these areas.”The import and export volume of private enterprises surged faster than the country’s average in 2010, with 47 percent year on year growth. Experts say China’s foreign trade development reduced dependence on foreign-funded enterprises.2010 imports and exports reached a historical high with a strong sign that the country’s trade sector has shrugged off不理，轻视the global economic recession.36．Which country is not China’s top 3 largest trading partners in 2010?（）A．the E.U. B．the U.K.C．the U.S.A. D．Japan37．According to the passage, what does the word “BRIC ” mean ?（）A．Brazil, Russia , India and ChinaB．Britain, Romania , Italy and CanadaC．Bulgaria, Russia , Indonesia and ColombiaD．Belgium, Romania , Israel and Cuba38．In which terms can we say that China’s foreign trade is diversifying?（）A．the development in quantityB．the development in qualityC．the development in quantity and qualityD．the development in quotient39．What indicates that industrial structure has improved in middle and western areas?（）A．Trade volumes between China and other emerging economies increased also.B．Trade volume between China and emerging economies increased faster than that with the traditional market.C．The southern province of Guangdong still topped others in the total volume of import and export.D．The speed was 10 percentage points higher than the country’s total.40．According to the passage, which enterprises surged faster than the country’s in 2010?（）A．state-owned enterprises B．joint venturesC．private enterprises D．foreign-funded enterprises14．UCP600 is a code to standardize the conditions under which bankers are prepared to issue documentary credit. （）15．Unless otherwise stipulated in the credit, the minimum amount for which the insurance document must indicate the insurance cover（保险范围）to have been effected is the CIF value of the goods plus 20%, but only when the CIF value can be determined from the documents on their face.10年21．（）is composed of a specific reference number, abbreviations of consignee, the port of destination and the package number.A．Shipping mark B．Indicative markC．Warning mark D．No mark22．The word “about” used in connect ion with the amount of the credit is to be construed as allowing a difference not to exceed more or less than the amount to which it renders. （）A．5%, 5% B．5%, 10%C．10%, 10% D．10%, 5%23．F. A. Q. is the abbreviation of（）.A．Free Average Quality B．Fair Average QuantityC．Fair Average Quality中等品质D．Free Average Quantity24．The exporter or his agent is normally the person named as（）on a bill of lading or on an air waybill.A．shipper B．underwriter担保人;保险商C．consignee：['kɔnsai'ni:]D．guarantor保证人25．Rock Co. wants to purchase lumber from Logging Co.. Rock Co. and Logging Co. agree that a letter of credit will be used for payment. Who is the applicant?（）A．Rock Co. B．Logging Co.C．Bank D．None of them26．Remitting bank is the bank to which the（）entrusts the collection items.（principal,drawer;remitting bank; collecting bank; drawee）A．principal B．payerC．drawee D．importer27．Under a collection, a bank acts only as a collecting agent to（）the exporter in obtaining payment or acceptance of his draft before the release of documents to the importer.A．guarantee B．assistC．promote D．push28．The issuing bank’s decision as to whether or not to accept the documents will be based st rictly on the principle that the（）themselves must be in compliance with the terms and conditions of the credit, UCP600 and ISBP681.A．sales contract B．documentsC．goods D．services29．In insurance, the party who insures others against possible loss or damage and promises to effect payment in case of loss or damage is called（）.A．insured B．insuranceC．underwriter D．consignor30．International payments and other message are often sent through an international computer network called（）.A．CHAPS B．SWIFTC．CHIPS D．CHA TSQuestions from 31 to 35 are based on the following passage:As overseas sales and profits as a percentage of total sales and profits increase, there is likely to be more headquarters’ attention paid to foreign operations. Similarly, the re will be pressures to centralize control in order to deal with the growing number of global competitors and the more homogenized(同质的) [həu'mɔdʒənaizd]needs of global consumers. The need for centralization will present more challenges for MNEs in controlling their global operations.One challenge involves management’s position in foreign facilities, where manager may see the erosion：[i'rəuʒən] of their autonomy over marketing, production, and financial decisions. To keep those managers motivated, the company needs to include more nationalities on boards of directors and use cross-national management teams to develop practices that are globally rather than nationally oriented. But with such cross-national fertilization（肥沃;施肥）comes the risk of clashes between cultural traditions.A second challenge for MNEs is a consequence of their size. A number of them already havesales larger than many countries’ GDPs. To manage such organizations may require even greater decentralization and more horizontal communication among subsidiaries in different countries that are mutually dependent on parts, products, and resources. This mutual dependence among subsidiaries may in turn require new hierarchical relationships within the organizational structure.31．Usually headquarters would pay more attention to their foreign business if（）.A．their overseas sales and profits account for much of their totalB．their overseas sales and profits increaseC．their foreign operations perform wellD．they have a better foreign market32．The better a company’s overseas performance is, the more necessary for the company to （）.A．centralize its overseas control B．control its global operationsC．guard against its competitors D．present more challenges to itself33．If the company fails to control its foreign business, the headquarters’ position will be shaken in that（）.A．its foreign management often challenges the headquartersB．foreign management may make its own decisions without asking for the headquarters’ permissionC．foreign management might try to be independent in marketing, production, and financial decisionsD．headquarters’ decisions are often ignored34．In order to （）, the company needs to include more nationalities on boards of directors and use cross-national management teams.A．keep those foreign operation managers loyal to the headquarterB．be nationally orientedC．be globally orientedD．keep the foreign management from independence35．The relation among subsidiaries preferred by an MNE is（）.A．greater decentralization B．mutual dependenceC．easy communication D．everlasting independenceQuestions from 36 to 40 are based on the following passage:In addition to visible trade, which involves the import and export of goods, there is also invisible trade, which involves the exchange of services between countries.Transportation service across national boundaries is an important kind of invisible trade. International transportation involves different means of transport such as ocean ships, planes, trains, trucks and inland water vessels. However, the most important of them is maritime ['mæritaim] ships. When an export arranges shipment, he generally books space in the cargo compartment（区划;划分;隔间）of a ship or charters a whole vessel. Some countries such asGreece and Norway have large maritime fleets（船队;机群;(汽)车队）and earn a lot by way of this invisible trade.Insurance is another important kind of invisible trade. In the course of transportation, a cargo is vulnerable to many risks such as collision碰撞;相撞, pilferage小偷小摸, fire, storm, exploration, and even war. Goods being transported in international trade must be insured against loss or damage. Large insurance companies provide service for international trade and earn fees for other nations’ foreign trade. Lloyd’s of London is a leading exporter of this service.Tourism is yet another important form of invisible trade. Many countries may have beautiful scenery, wonderful attractions, places of historical interest, or merely a mild and sunny climate. These countries attract large numbers of tourists, who spend money for traveling, hotel accommodations, meals, taxis, and so on. Some countries depend heavily on tourism for their foreign exchange earnings, and many countries are making great efforts to develop their tourism.The fourth type of invisible trade meriting值得,应受attention is called immigrant remittance汇款、付款. This refers to the money sent back to home countries by people working in a foreign land. Import and export of labor service may be undertaken by individuals, or organized by companies or even by states. And this is becoming an important kind of invisible trade for some countries.Invisible trade can be as important to some countries as visible trade is to others. In reality, the kinds of trade nations engage in are varied and complex, often a mixture of visible and invisible trade.36．According to the definition of invisible trade, the followings belong to invisible trade except （）.A．foreign trade consultation B．car sellingC．after-sale-service D．on-line software maintenance 37．Lloyd’s is the leading company of（）.A．transportation B．insuranceC．tourism D．import and export38．Immigrant remittance means（）.A．money sent back to home country by the people working abroadB．money paying for the commodity they buyC．the salary they ownD．the money people possess39．According to the meaning of the passage, China at present engages mostly in（）.A．visible trade B．invisible tradeC．combination of the two D．commodity trade40．How many types of invisible trade are mentioned in the passage?（）A．2 B．3C．4 D．514．Pro forma invoice has legal status, and its details are normally transferred to a commercial invoice. （）15．The importer will normally require the exporter to present shipped on board B/L, for it provides better guarantee for both negotiating bank and the consignee. （）09年21．What is the term when the consignment：[kən'sainmənt]托付物；委托is delivered with all the charges up to arrival at the port of destination paid by the seller?（）A．FOB B．FCAC．DDU D．CIF22．Where goods are to be dispatched派遣;发送;快递by road, rail or air instead of by sea, the documentary credit will call for a road transport document or a rail transport document or an airway bill instead of（）.A．a bill of exchange B．a certificate of originC．a bill of lading D．a certificate of insurance23．The drawee of a cheque is（）.A．the person who is to receive paymentB．the bank that has to make paymentC．the last person to endorse the chequeD．the person whose bank account will be debited24．A bank that opens an L/C at the request of an importer is a (an)（）.A．issuing bank B．paying bankC．accepting bank D．informing bank25．Tariffs can（）.A．decrease the domestic price of a productB．increase government earnings from taxesC．increase the quantity of importsD．decrease domestic production26．Foreign trade can be conducted on the following terms of payment except for（）.A．open account未清账户；记帐交易 B．documentary collectionC．documentary credits D．public bonds公债27．The risk of breakage is considered to be （）.A．Free from Particular Average平安险B．General Additional Risks一般附加险C．With Average D．Special Additional Risks特殊附加险28．If a seller finds any discrepancies in the letter of credit against the sales contract, whom should he write to asking for an amendment?（）A．the issuing bank B．the advising bankC．the applicant D．the negotiating bank29．A clean transport documents is one which bears no clause or notation declaring a defective condition of the （）.A．vessel B．B/L itselfC．goods or their packaging D．voyage30．Which of the following payment modes may bring the lowest risk to a seller?（）A．T/T in advance B．L/CC．D/P D．D/AQuestions from 31 to 35 are based on the following passage:Negotiations work wonders. This is particularly so in international business since it is mostly through negotiations that exporters and importers bridge their differences and reach a fair and mutually satisfactory deal.By presenting a more comprehensive negotiating package in a well planned and organized manner, exporters should be able to improve the effectiveness of their business discussions and in the long term the profitability of their export operations.To avoid being confronted by costly demands, an exporter should try to determine the buyer’s real interest in the products from the outset（最初,开始）. This can be ascertained（查明,弄清）through appropriate questions but must also be based on research and other preparations before the negotiations. Only then can a suitable counter-proposal be presented.To achieve a favorable outcome from the negotiations, an exporter should draw up a plan of action beforehand, which addresses a few key issues. Experienced negotiators consider that as much as 80% of their overall time devoted to negotiations should go to such preparations. The preliminary work should be aimed at obtaining relevant information on the target market and the buyers of the products. It should also include developing counter-proposals if objections are raised on any of the exporter’s opening negotiating points. The preparations should thus involve formulating the negotiating strategy and tactics（战术;策略;手法）.In international marketing negotiations, it is advisable for small and medium-sized exporters not just to limit their discussions to pricing issues, although pricing is a key factor in any business transaction, exporters should give more attention to the full range of marketing factors. They should stress the strengths of their firms and products and match them with the perceived needs of the buyers. Once these issues have been covered, they can consider the question of price and are able to develop a profitable business.31．Negotiations work wonders because（）.A．importers and exporters can build a bridge togetherB．they do help solve problems and get more understanding for each otherC．they bring satisfactory deal every timeD．the gap between importers and exporters can be fairly filled in every instance32．A successful negotiator should be（）.A．aggressive B．mildC．well-prepared D．hesitative33．In international marketing negotiations,（）always come first.A．prices B．full range of marketing factorsC．manufacturing costs D．customers’ needs34．80% of the overall time should go to preparations which involve（）.A．obtaining relevant informationB．developing counter-proposalsC．formulating the negotiating strategy and tacticsD．all of the above35．The author advises the small and medium-sized exporters to do business with（）.A．care B．a prospective insightC．more stress on profit D．pricing issuesQuestions from 36 to 40 are based on the following passage:Against this background, the WTO faces several daunting（令人怯步的）challenges. The first is to continue bringing down tariffs on traded goods. Average penalties have fallen steadily since the GA TT’s关税暨贸易总协定formation but even the most open economies retain lofty barriers 高耸的,极高的: for instance, America still charges a tariff of 14.6% on import of clothing, five times higher than its average levy.Resistance to tariff cuts is strongest in agriculture. According to Tim Josling, a trade expert at Stanford University, tariffs and other barriers on farm goods average a crippling极有害的;有严重后果的40% worldwide and create distortions that “destroy huge amounts of value”. A new set of global farm talks is planned to start in 1999. At the least, you might think, these could lock in impressive reforms in Latin America and encourage further watering-down of the European Union’s Common Agricultural Policy. But they will prove difficult: squabbles：['skwɔbl]争吵;口角over agriculture almost sank the Uruguay round.36．What does the WTO face?（）A．fair trade rules B．free tradeC．export tax reduction D．several challenges37．Where do impressive reforms lock in according to the passage?（）A．America B．AsiaC．Latin America D．Africa38．According to the passage, which statement is NOT true?（）A．The WTO faces several daunting challenges, one of which is to continue bringing down tariffs on traded goods.B．America still charges a tariff of 14.6% on import of clothing, four times higher than its average levy.C．The strongest resistance to tariff cuts is in agriculture field.D．A trade expert said that tariffs and other barriers on farm goods averaged a crippling 40% worldwide.39．When is a new set of global farm talks planned to start?（）A．1980B．1990C．2001 D．at the end of 20th century40．The best title for the passage is（）.A．NEW TRADE RULESB．UNFAIR TRADE RULESC．TRADE BARRIERS FOR DEVELOPING COUNTRIESD．TARIFF CHALLENGES TO WTO14．A s per UCP 600, the words “to”, “till”, “from”, “between” when used to determine a period o f s hipment include the date or dates mentioned, the words “before” and “after” exclude the date mentioned. （）15．The more or less clause is the clause that stipulates that the quantity delivered can be more or less within certain extent (range). （）。

2010年度重庆市高等学校双语教学示范课程《金融英语》授课教案重庆工商大学融智学院金融系信用管理教研室《金融英语》课程组二0一一年十一月《金融英语》授课教案Chapter 1：About Money （第一章关于货币）[教学目的] 温习在《金融学》中已经学过的有关货币起源、特点、职能及类型的基础知识，掌握相应的英语词汇和表达方式。

[教学重点与难点]货币的特征、职能；货币发展的沿革。

[教学时数] 2学时[教学方法与手段] 多媒体教学,讲授I．Origin of MoneyPrimitive society ( during early times)特点在于：self-sufficient, which means that each economic unit produced all it consumed and consumed all it produced, so their wants could be met by themselves.此处辨析解释economy, economic的含义。

由此引出Barter物物交换，以物易物1)requirement: double-coincidence of wants 需求的双重耦合（举例说明）2）drawbacks of barter:① Wants cannot be precisely matched;② The problem of value determination.③ The indivisibility of large items.II．What is Money?（逐点讲解）Functions(职能)1）medium of exchange (交易媒介)2）measurement of value (价值尺度)3）store of value （贮藏手段）4）standard of deferred payment (支付手段)Characteristics:1) Generally acceptable 2) Durable 3) Portable4) Divisible 5) Uniform 6) Counterfeit proof7) Stable in valueIII．Money in Modern SocietyIV．Writing: About Money in My Mind课后自主学习阅读材料：The International Financial World (国际金融界)附：The International Financial W orldEconomic activity began with the caveman, who was economically self-sufficient. He did his own hunting, found his own shelter, and provided for his own needs. As primitive populations grew and developed, the principle of division of labor evolved. One person was more able to perform some activity than another, and therefore each person concentrated on what he did best. While one hunted, another fished. The hunter then traded his surplus to the fisherman, and thus each benefited from the variety of diet.In today’s complex economic world neither individuals nor nations are self-sufficient. Nations have utilized different economic resources; people have developed different skills. This is the foundation of world trade and economic activity. As a result of this trade and activity, international finance and banking have evolved. For example, the U.S is a major consumer of coffee, yet it does not have the climate to grow any of its own. Consequently, the U.S must import coffee from countries that grow coffee efficiently. On the other hand, the U.S has large industrial plants capable of producing a variety of goods, such as chemicals and airplanes, which can be sold to nations that need them. If nations traded item for item, such as one automobile for 10,000 bags of coffee, foreign trade would be extremely cumbersome and restrictive. But instead of barter, which is the trade of goodswithout an exchange of money, the U.S. receives money in payment for what it sells. It pays for Brazilian coffee with dollars, which in turn can buy textiles from Great Britain, which can then buy tobacco from the U.S. Foreign trade, the exchange of goods between nations, takes place for many reasons. The first, as mentioned above, is that no nation has all of the commodities that it needs. Raw materials are scattered around the world. Large deposits of copper are mined in Peru and Zaire, diamonds are mined in South Africa, and petroleum is recovered in the Middle East. Countries that do not have these resources within their own boundaries must buy from countries that export them.Foreign trade also occurs because a country often does not have enough of a particular item to meet its needs. Although the U.S. is a major producer of sugar, it consumes more than it can produce internally and thus must import sugar.Third, one nation can sell some items at a lower cost than other countries. Japan has been able to export large quantities of radios and television sets because it can produce them more efficiently than other countries. It is cheaper for the U.S. to buy these from Japan than to produce them domestically. According to economic theory, Japan should produce and export those items from which it derives a comparative advantage. It should also buy and import what it needs from those countries that have a comparative advantage in the desired item.Finally, foreign trade takes place because of innovation or style. Even though the U.S. produces more automobiles than any other country, it still imports large quantities of autos from Germany, Japan, and Sweden, primarily because there is a market for them in the U.S.For most nations, exports and imports are the most important international activities. When nations export more than they import, they are said to have favorable balance of trade. When they import more than they export, an unfavorable balance of trade exists. Nations try to maintain a favorable balance of trade, which assures them of the means to buy necessary imports. Some nations base their entire economy on the concept of importing raw materials, processing them into manufactured goods, and then exporting the finished goods. The subsequent profits enable these nations to import the food they need.In addition to visible trade, which involves the import and export of goods and merchandise, there is also invisible trade, which involves the exchange of services between nations.As an example of invisible trade, Brazilian coffee is usually transported by ocean vessels because these steamships are the cheapest method of transportation. Nations such as Greece and Norway and Hong Kong have large maritime fleets, which can provide this transportation service. When an exporter arranges for this kind of transportation, he rents space in the cargo compartment of a ship for one voyage.The prudent exporter purchases insurance for his cargo’s voyage. While at sea, a cargo is vulnerable to many dangers, the most obvious being that the ship may sink. In this event, the exporter who has purchased insurance is reimbursed. Otherwise, he may suffer a complete loss. Thus, insurance is another service in which some nations specialize. Great Britain, because of the development of Lloyd’s of London, is a leading exporter of this service, earning fees for insuring other nations’ foreign trade.Some nations possess little in the way of exportable commodities or manufactured goods, but they have a mild and sunny climate. During the winter, the Bahamas attract numbers of tourists, particularly from the northeastern U.S., who spend money for hotel accommodations, meals, taxes, and so on. Tourism, therefore, is another form of invisible trade.Invisible trade can be as important to some nations as the export of raw materials or commodities is to others. In both cases, the nations earn money to buy necessities.The different kinds of trade that nations engage in are varied and complex, a mixture of visible and invisible trade. Most nations are more dependent on exports than on any other activity. The earnings from exports pay for the imports that they need and want. A nation’s balance of payments is a record of these complex transactions. The two most important categories in any nation’s balance of payments are its visible and invisible trade. A third very important category is investments.Investments are the means by which nations utilize the capital of other nations to build factories and develop mines fro their own industrial base. The railroads of the U.S. and South America were built by British capital. This capital paid for the costs of construction, including materials and the wages of the workers, and the locomotives and freight cars.Investment can have a crucial impact on a nation’s balance of payments. When an investment is made, capital enters a country, enabling it to import manufactured materials to build a new manufacturing plant and to pay workers to build it. Once the plant is operative, it provides both jobs and taxes for the host country and, in time,produces new manufactured goods for export. In this way, investment acts as a catalyst in economic growth for the developed countries, as well as developing countries throughout the world.In subsequent years, an investment should yield a profit. Dividends, sums of money paid to shareholders of a corporation out of earnings, can then be remitted to the investing country. From the perspective of the balance of payments, in the year the investment is made, the host country credits income to its balance of payments, and the investing country records a debit. This is reversed in the following years. The dividends then represent an expense for the host country and income for the investing country.After calculating all of the entries in its balance of payments, a nation has either a net inflow or a net outflow of money. It should be noted that the statistics used in determining a deficit (shortage) or surplus (excess) are inexact; information is reported by a variety of sources, and there are bound to be mistakes and omissions. The statistical difference between these sources is balanced by an entry entitled ―Net Errors and Omissions‖. The final result is either an increase or a decrease in the nation’s reserves.These reserves may be compared to an individual’s saving. For a nation, they are maintained in holdings of gold and official deposits in foreign currencies, such as U.S. dollars, pounds sterling, deutsche marks, and so on. A deficit in the balance of payments can be accommodated by drawing on (removing some of) the reserves, that is, the previous savings. But if a nation’s balance of payments continues in deficit for some time, then the reserves will be insufficient to cover further withdrawals, and additional measures must be taken.The most direct means of correcting a deficit in the balance of payments and having an immediate impact is by reducing imports. This can be accomplished by imposing tariffs, quotas, or both. If successful, the cost of imports rises in the local market, and the imported goods are comparatively more expensive to the consumer than the locally made goods. When a quota is imposed, the quantity previously imported and paid for is reduced.In either case, the net effect is the reduction of the nation’s outflow of money. Other measures may limit invisible trade expenditures. For example, citizens may be prohibited from taking more than a specified amount of money with them when they travel abroad. Capital for investments abroad can be restricted by requiring governmental approval for any new foreign investments.If these measures are insufficient, a country may devalue its currency. This immediately makes imports more expensive and exports more competitive, since the importing country can now pay for the first country’s imports with less of their currency than previously. In time, these advantages are eliminated.Gold, and to a lesser extent silver, have been the traditional reserves. At one time, gold moved freely from country to country, but successive constraints have been imposed in the past 50 years. Today, gold counts as only one form among many in the reserves of a country.Notes1. Balance of payments: the difference between a nation’s total payments to, and receipts from, foreign nations during a specific period. 国际收支2. Balance of trade: the difference between the value of imports and exports, including in some instances the related freight and insurance premiums. 贸易差额3. Capital: Funds invested by individual or corporate share-holders to establish an enterprise. 资（本）金Chapter 2：Commercial Banking (商业银行)[教学目的]本章是介绍商业银行的基本知识，包括私人业务和公司业务。

Default:违约failture to perform on a foerign exchange transaction or failture to pay an interest obligation on a debt. Fiscal:财政Fiscal is used to describe something that relates to government money or public money, especially taxes.The accountants audited the company’s books at the end of the fiscal year.财政年度结束时，会计师们审查公司的账册。

Reserves:储备The dollar’s reserve-currency status let America borrow cheaply, causing the country’s credit and housing bubbles to persist for longer than they otherwise would have.美元作为储备货币的地位让美国可以很便宜地借到钱，这导致了美国的信贷和房屋泡沫比本来持续了更长的时间。

Circulate:流通During a depression money circulates slowly.循环在商业萧条时期，货币流通滞缓。

Domestic:国内的Low prices crimped domestic output and foreign imports.低物价阻碍了国内出口和国外进口。

Gold:黄金America went off the gold standard after the Great Depression.大萧条后，美国停止使用金本位制。

Minimum:最小值Employers frequently pay workers below the minimum wage, and some employers do not pay their workers at all.雇主常付给工人低于最低工资的薪水，而且有些雇主根本给他们的工人支薪。

EC O N O M Y C h ina ’s fo reig n tr ad e in Jan uary and Feb ruar y 2012According t o stat ist ics of the C ustoms,China ’s export s and imports in the first two months of 2012reached $533.03billion,up by 7.3%over t he same period of last year.Speci -cally,export s stood at $264.39billion,up by 6.9%year on year;imports $268.64billion,up by15.3%.e t w o months saw a trade de cit of $4.25billion.In February alone,C hina ’s trade volume registered $260.43billion,up by 29.4%.Specifically,exports stood at $114.47billion,up by 18.4%;imports $145.96billion,up by 39.6%.e 2011Chinese Spring Fest i-val,which fell on February 2012,factored into the dat a.St ronger growt h in expor ts under t he general t rade;slight increase in import s un-der t he processing t rade.In January and Feb-ruary,China ’s general trade value jumped by 7.8%year on year to $283.49billion.Speci -cally,export s increased by 5.6%year on year to $123.08billion,w hile import s increased by 9.6%t o $160.41billion.e nation ’s process-ing t rade value jumped by 5.3%year on yearto reach $188.44billion.Speci cally,exports increased by 7%to $121.14billion,w hile im-port s increased by2.3%to $67.3billion.Si gn i fi can t i nc rea se in t ra de wit h emerging markets;modest increase in t rade with Europe and the United St at es.In Janu-ary and February,C hina ’s bilateral t rade wit h R B z 3%6%increases over the same period of last year.enation ’s trade with Europe jumped by 4.7%;t hat with the United States up by 9.2%;andt hat wit h t he ASEAN up by9.1%.Significant increase in exports of cen-t ral and wester n C hi na;modest i ncreasei n expor t s of easte rn C hi na.I n January and Februar y,export s of H enan,C hongq-ing,Gansu,Guangxi and Jiangxi rose by 1.6t im es,1.4tim es,52.6%,38.7%and 22.4%respect ively.Export s of Guangdong,Jiangsu,Shanghai and Zhejiang increased by 0.7%,2.8%and 9.4%and 2.5%respectively.St eady increase in exports of mechani-cal and elect rical product s;st eady increase in import s of t radit ional bulk comm odit ies.I n Januar y and February,C hina export ed$156.44billion w orth of mechanical and elec-t rical products,8.8%higher than that of last year,1.9percentage point s than the increase rate of t he nation ’s total exports volume.ecount ry imported 120m illion t ons of i ron ore,an increase of 5.7%year on year,and 8.44m illion tons of soy beans,an increase of 13.2%year on year.Utilization of foreign investm entI n the fi rst t wo m onths 2012,Chi na approved the establishment of 3,005new for-eign-invested enterprises,a decline of 11.59%year on year.e nation utilized $17.723bil-lion worth of f oreign capital,a decline of 0.56%from the same period of last year.In February ,f Data Watchon China ’s Foreign Trade and Investment in the First Two Months of 201242ussia and ra il reported 1.9and 10.alone China approved t he est ablishment o31,603new foreign-invested enterprises,up by 11.59%year on year.The nation utilized $7.726billion wort h of foreign capital,a de-cline of 0.90%from t he same period of last year.Sign if ica nt i ncrea se i n t h e ut i l iz a-t ion of forei gn capit al by such sect ors as agr icult ur e,for est ry,a nim al husbandr y,and fisheries;slowdown of t he increase in ut ilization of foreign capit al by t he ser vice sect or.In January and February,t he sectors of agriculture,forest ry,animal husbandry,and sheries made an act ual use of $312million in foreign investment,an increase of 38.20%year on year and account ing for 1.76%of the count ry ’s t otal utilizat ion of foreign capit al.The manufacturing indust ry made an actual use of $8.361billion in foreign investment,a decline of 0.10%over t he same period of last year and accounting f or 47.18%of the national tot al.e service indust ry made an act ual use of $8.009billion,a decline of 3.51%year on year,2.95percentage points higher t han the country ’s average rat e of decrease.e service industry accounted for 44.72%of the national tot al utilization of foreign capital.Upward t rend i n investm ent in China from Asi a and t he Unit ed Stat es.In Janu-ary and Febuary,paid-in capital from the ten Asian nations or regions (H ong Kong,Ma-cao,the Taiwan province,Japan,Philippines,ailand,Malaysia,Singapore,Indonesia,and South Korea)was valued at $15.379billion,an increase of 2.66%year on year.Paid-in capital from t he United St ates amounted to $525million,up by 0.87%from the same period of last year.Paid-in capital from the 27European Union nations fell by 33.32%to $906m il-lion.Significant increase in paid-in foreign capital to cent ral C hina.In January and Febuary,t he east-ern regions made an act ual use of $15.152bi llion in foreign invest-ment,a decline of 1.63%year on year and account ing for 85.49%of the national t otal.T he central re-gions made an actual use of $1.428billion,an increase of 19.21%and account i ng for 8.06%of t he na-tional total.T he western regions made an act ual use of $1.143billion in foreign investment,a decline of6.55%year on year and accounting f 65%f Ove rseas in vest men t and econ om ic coop eratio n China ’s outbound FDI In the rst two mont hs of 2012,China ’s domestic investors invested direct ly in 706overseas corporations in 97nat ions and regions,wit h a tot al of non-nancial out bound FDI of $7.435billion,an increase of 41.1%year on year.O verseas-contract ed project s In Janu-ary and Febuary,C hina ’s overseas-cont racted projects reported a t urnover of $11.5billion,an increase of 16.6%year on year.$14.48bil-lion wort h of new cont racts were signed,down by 18.5%year on year.52of the new projects were of a contract value of over $50million,wit h a total contract value of $10.36billion,represent ing 71.5%of the total value of the newly-signed contracts.34of the new projects were of a contract value of over $100m illion,8more than t he same period of last year.For ei gn la bor ser vice coope rat ion In January and February,the number of all kinds of labor sent abroad w as 56,000,about the same with last year.27,000of them are working on overseas contracted projects,and 29,000of t hem are for labor cooperation.At the end of February,there were a tot al of 799,000C hinese worki ng abroad,35,000more t han the same period of last year.(S ourc e:P re s s c onfe re nce of the Ministry of Comme rce of China on March 15,2012)4or .4o the national total.。

26During the seminar themed “Propel Free Trade Co-operation, Elevate Sino-EU Economic and TradeRelations” held by the CCPIT, Wang Jinzhen, vice chairman of the China Council for the Promotion of Inter-national Trade (CCPIT), pointed out that, the EU has launched several anti-dumping investigations and carried out trade remedy measures against steel, chemical products and other commodi-ties from China, setting barriers for Chinese enterprises in related industries to export to Europe.“It is expected that the China-EU FTA could resolve such conflicts.” said Wang Jinzhen. He believes that a comprehensive and in-depth China-EU FTA can reduce trade barriers, facilitate corporate investment and promote China and Europe to comple-ment each other for sustainable eco-nomic development.China-EU FTA may help reduce disputes between China and EuropeW h i le econom ic a nd t rade relations are being strengthened, conflicts between China and Europe are increasing. The attitude that the EU holds towards China’s “market economy status” has further gloomed the future. On November 9, 2016, in the amendment proposal for the anti-dumping legal system presented to the European Parliament and the European Council, the European Commission replaced “non-market economy” with the concept and standards for “market distortions”, which does not fundamentally abandon the “surrogate country” approach. On November 12, 2016, the European Commission made anti-dumping investigation preliminary ruling for seamless steel pipe productsoriginating in China, and decided toChina-EU FTA to Be Put into Practice with High Expectationimpose an up to 81.1% provisional anti-dumping duty for a period of 6 months. Statistics show that of the iron and steel industry in China that is vulnerable to anti-dumping investigations, seamless steel pipe products bear the most brunt. Based on relevant research data, the exports of seamless steel pipes from China declined gradually in the past seven or eight years.It was learned from the Ministry of Commerce that, on December 20, 2016, the European Commission re-vealed the results for anti-dumping and anti-subsidy sunset review and interim review investigation against Chinese photovoltaic products, which showed that the commission would continue the anti-dumping and anti-subsidy measures.“Chinese enterprises often spend more time and money in responding to the EU ’s anti-dumping and anti-sub-sidy cases.” said Yu Huabo, director ofthe silk department of China Chamber of Commerce for Import and Export of Textile and Apparel.In addition to the increasing anti-dumping and anti-subsidy cases, the so-called “China premium” also hold up Chinese enterprises from “going out”.Allen Zhang, chief economist at PricewaterhouseCoopers, said, “When a Chinese Company, especially a state-owned enterprise, tries to acquire a target company in Europe or elsewhere, it often has to pay a higher price, just because we are from China.”“It is clear that orders are decreas-ing, in particular textile and clothing orders. Since 2015, exports of Chineseproducts to the EU have decreased significantly, while Bangladesh, Viet-nam and other countries are having an increasing share in European market. Chinese enterprises are facing increas-ing pressure on price competition.” Yu Huabo from China Chamber of Com-merce for Import and Exprot of Textile and Apparel said.According to Yu Huabo, large orders and long-term orders are on the derease, the collection period is extend-ing, and claims and repudiation are more often to see, all causing enterpris-es to face higher risks, higher financing costs, and higher quality requirements. Tiny problems used to be neglected now become pretexts for the importers for price cuts or even claims. Due to the recent economic slowdown and weak trade demand, exporters and importers are struggling, which brings more trade disputes between China and Europe.Christian Ewert, director gen-eral of Foreign Trade Association Europe, criticized the revival of trade protectionism, “A great many of Eu-ropean companies import goods and services from China, because China is able to provide efficient and high quality services and production, im-ports from China and other Asian countries have become an integral part of our economy.”China is the crucial market for the EUThere are high expectations on the construction of China-EU Free TradeZone and the negotiation on China-EU Free Trade Agreement. China andthe EU signed “China-EU 2020 Stra-tegic Agenda for Cooperation” in 2013,which clearly expressed that both partywould move “once the conditions areright, towards a deep and comprehen-sive FTA”.Wang said, in more than 40 yearssince China and the EU establisheddiplomatic ties, under the encourage-ment and support by both parties, withthe efforts of business circles of bothsides, the bilateral economic and traderelations have maintained a good mo-mentum of development.Mr. Ewert highly praised the im-portant role of China to the Europeaneconomy. The rapidly develop Chineseeconomy over the past 20 years helpspromote the European economy. “Atpresent, the population of middle classhas reached 300 million, meaning thereis unlimited potential in China,” hesaid, “China’s important to the Euro-pean economy, especially for the satu-rated and fiercely competing Europeanmarket. The choice of Chinese consum-ers may determine the performance ofmany European businesses. It even cansay that Chinese market is key to manycompanies in Europe. It has provedthat the trade relation with China isvital to the EU economy, so we mustresist the protectionism. Strenghten thetrade tie with China is not a threat, buta great opportunity for the economicdevelopment in the EU. There is enor-morous potential to carry out economicand trade cooperation between the EUand China, and it is now time for us totake the chance.”Actively respond trade frictionsDifferences and frictions now aremore common to see, partly because ofthe closer economic and trade relations.In China, though a lot of peoplecan speak European languanges, legalprofessionals that really understandlocal culture and laws and regulationsare in shortage, and there is a greatdemand gap for talents that can pro-vide legal advice and support for tradeand investment cooperation betweenChinese and European enterprises. Thelack of talents certainly brings difficul-ties to enterprises.As PricewaterhouseCoopers’ chiefeconomist Allen Zhang pointed out,if enterprises are not familiar with lo-cal investment environment, laws andregulations, environmental rules, laborstandards, etc., the first task for themis to fully understand the legal systemthere in a short time.Mr. Ewert said, since China andthe EU have a strong complementarityfor economic cooperation, both par-ties should continue to further openinternal markets, and eliminate tradebarriers.Wang said, the investment inChina from the EU continues togrow quickly against the weak globaleconomy, indicating that the EU arestill optimistic about the developmentprospects and the improvement of in-vestment environment in China.Wang also stressed that as thelargest trade and investment promotionorganization in China, the CCPITassociates industrial and commercialenterprises in China, and actively par-ticipates in the construction of Chinafree trade zones. It not only providesChinese and foreign governmentspolicy recommendations of Chineseenterprises on FTA negotiation, butalso promotes the relevant policies andregulations of the FTA.D i f f e r e n c e s a n dfrictions now are morecommon to see, partlybecause of the closereconomic and traderelations.27。

汇率变化对我国外贸的影响AbstractThis paper aims to analyze the impact of exchange rate fluctuations on China's foreign trade. The study takes a comprehensive view by examining both the advantages and disadvantages of exchange rate changes. The paper begins by providing a brief overview of China's foreign trade and exchange rate history. Next, it examines how exchange rate fluctuations affect various aspects of foreign trade. The paper argues that while exchange rate changes can bring benefits such as expanding exports and increasing competitiveness, they can also have negative impacts such as increased import costs and a loss of purchasing power. Ultimately, the paper concludes that policymakers should take a balanced approach to managing exchange rates, taking into account both short-term and long-term effects on the economy.IntroductionChina's foreign trade has undergone substantial changes in the past decades, driven by a number of factors including economic development, globalization, and technological advancements. The country has emerged as a major player in global trade, with exports alone accounting for nearly 20% of gross domestic product. A significant factor that has influenced China's foreign trade is exchange rate fluctuations, which can have both positive and negative impacts.Exchange rate fluctuations can be defined as changes in the value of one currency relative to another. This can bemeasured through a number of mechanisms, including thenominal exchange rate, which is the rate at which onecurrency can be exchanged for another, or the real exchange rate, which adjusts for differences in inflation ratesbetween countries. Fluctuations in exchange rates can occurfor a variety of reasons, including economic policies, market forces, and geopolitical events.Exchange Rates and China's Foreign Trade: An OverviewChina's exchange rate regime has evolved considerably since the country began implementing economic reforms in 1978. Initially, China implemented a system that pegged therenminbi (RMB) to the US dollar, with a strict limit on the currency's movements. This was gradually relaxed over time, leading to a managed float system in which the RMB is allowed to fluctuate within a narrow band against a basket of currencies. In 2010, China announced a move towards a more flexible exchange rate regime, which has been implemented gradually since then.Exchange rate fluctuations can have a range of effectson various aspects of China's foreign trade. For instance, a depreciation in the value of the RMB can make Chinese exports more affordable for foreign buyers, which can lead to an increase in demand and higher export revenues. Meanwhile, an appreciation in the RMB's value can make imports more affordable, which can lead to greater imports and higherimport costs for foreign buyers.Advantages of Exchange Rate Fluctuations in Chinese Foreign TradeThere are a number of advantages associated with exchange rate fluctuations for China's foreign trade. These include:1. Increased Exports: A lower value of the RMB relative to other currencies makes Chinese goods more affordable for foreign buyers. This can enhance export demand and revenues for Chinese firms, which can have a positive impact on the trade balance and support economic growth.2. Increased Competitiveness: A lower RMB value can also make Chinese firms more competitive in global markets, potentially allowing firms to capture market share from foreign competitors. This can lead to increased employment and economic growth.3. Improved Investment Attraction: A depreciated RMB can make Chinese assets more attractive to foreign investors, potentially leading to greater capital inflows and supporting further economic development.Disadvantages of Exchange Rate Fluctuations in Chinese Foreign TradeWhile exchange rate fluctuations can bring benefits to China's foreign trade, there are also some downsides. These include:1. Increased Import Costs: A lower RMB value can increase the cost of imports, which can have a negative impact on firms that rely on imported inputs or goods for their operations. This can lead to a decline in profits and potentially even business closures.2. Reduced Purchasing Power: A lower RMB value can make imports and foreign travel more expensive for Chinese consumers, affecting their purchasing power and potentially reducing domestic demand.3. Increased Inflation: A depreciated RMB value can lead to higher inflation, as the cost of imported goods increases. This can have a negative effect on the overall economy byleading to higher prices for consumers and contributing to reduced economic growth.ConclusionIn conclusion, this paper has highlighted the impact of exchange rate fluctuations on China's foreign trade. Thestudy shows that while exchange rate changes can bringbenefits such as expanding exports and increasing competitiveness, they can also have negative impacts such as increased import costs and a loss of purchasing power. Ultimately, policymakers must consider the short-term andlong-term effects on the economy when managing exchange rates.A balanced approach that takes into account both the positive and negative effects can lead to sustainable economic growth and development in the long run.。

1. What does the acronym "CIF" stand for in international trade?A) Cost, Insurance, and FreightB) Cash in FlightC) Currency in ForeignD) Central International Fund2. Which of the following is a common method of payment in internationa l trade?A) PayPalB) Letter of CreditC) BitcoinD) Cash on Delivery3. In a business email, what is the purpose of using a "CC" line?A) To send a carbon copy to another recipientB) To send a confidential messageC) To send a copy to the CEOD) To send a copy to the customer service4. What is the primary function of a "Pro Forma" invoice?A) To provide a detailed description of goodsB) To serve as a binding contractC) To give an estimated price before a final agreementD) To request payment from the buyer5. Which of the following is NOT a component of the SWOT analysis?A) StrengthsB) WeaknessesC) OpportunitiesD) Obligations6. What does "FOB" stand for in shipping terms?A) Free on BoardB) First Order BasisC) Foreign Original BrandD) Fixed Original Budget7. Which document is used to declare the value of goods for customs pur poses?A) Commercial InvoiceB) Packing ListC) Bill of LadingD) Customs Declaration8. What is the main purpose of a "Non-Disclosure Agreement" (NDA)?A) To protect the confidentiality of shared informationB) To declare the non-availability of goodsC) To prevent the disclosure of company profitsD) To ensure the non-disclosure of employee records9. In international trade, what does "ETA" stand for?A) Estimated Time of ArrivalB) Estimated Time of ActionC) Expected Time of ArrivalD) Early Time of Arrival10. Which of the following is a key element of a business proposal?A) Personal anecdotesB) Detailed budgetC) Family historyD) Favorite recipes11. What is the primary purpose of a "Certificate of Origin"?A) To certify the origin of goodsB) To certify the quality of goodsC) To certify the price of goodsD) To certify the weight of goods12. Which of the following is a common business etiquette in internatio nal communication?A) Using slang and abbreviationsB) Being overly casualC) Respecting cultural differencesD) Ignoring time zones13. What does "ETD" stand for in shipping terms?A) Estimated Time of DepartureB) Estimated Time of DeliveryC) Expected Time of DepartureD) Early Time of Departure14. Which document outlines the terms and conditions of a shipment?A) Commercial InvoiceB) Packing ListC) Bill of LadingD) Shipping Agreement15. What is the main purpose of a "Letter of Credit"?A) To provide a line of credit to the buyerB) To guarantee payment to the sellerC) To provide a discount on goodsD) To secure a loan for the buyer16. In business communication, what does "FYI" stand for?A) For Your InformationB) For Your InspectionC) For Your InterestD) For Your Improvement17. Which of the following is a key component of a business plan?A) Personal goalsB) Market analysisC) Favorite sports teamsD) Family vacation plans18. What is the primary purpose of a "Purchase Order"?A) To place an order for goodsB) To request a refundC) To inquire about pricesD) To negotiate a contract19. Which of the following is a common business document used in intern ational trade?A) Wedding invitationB) Recipe bookC) Bill of LadingD) Novel20. What does "B2B" stand for in business terms?A) Business to BusinessB) Business to BuyerC) Business to BankD) Business to Board21. Which of the following is a key element of a business presentation?A) Humorous anecdotesB) Clear objectivesC) Personal opinionsD) Family photos22. What is the main purpose of a "Sales Invoice"?A) To request payment for goods soldB) To provide a receipt for goods purchasedC) To list the ingredients of a productD) To describe the manufacturing process23. In international trade, what does "DDP" stand for?A) Delivered Duty PaidB) Delivered Duty PrepaidC) Delivered at DestinationD) Delivered at Dock24. Which of the following is a common business term for a meeting?A) PowwowB) HuddleC) ConferenceD) Chitchat25. What is the primary purpose of a "Business Model Canvas"?A) To plan a vacationB) To outline a business strategyC) To decorate an officeD) To organize a party26. Which document is used to list the contents of a shipment?A) Commercial InvoiceB) Packing ListC) Bill of LadingD) Customs Declaration27. What does "B2C" stand for in business terms?A) Business to ConsumerB) Business to CompanyC) Business to CustomerD) Business to Client28. Which of the following is a key element of a business report?A) Personal diary entriesB) Detailed analysisC) Favorite moviesD) Family tree29. What is the main purpose of a "Credit Note"?A) To provide credit to the buyerB) To correct an overchargeC) To request a discountD) To inquire about a product30. In international trade, what does "EXW" stand for?A) Ex WorksB) Ex WarehouseC) Ex FactoryD) Ex Ship31. Which of the following is a common business document used in negoti ations?A) Wedding albumB) Recipe cardC) ContractD) Novel32. What does "RFP" stand for in business terms?A) Request for ProposalB) Request for PaymentC) Request for ProductD) Request for Permission33. Which of the following is a key element of a business strategy?A) Personal hobbiesB) Market researchC) Favorite foodsD) Family traditions34. What is the primary purpose of a "Quotation"?A) To provide a quote for a serviceB) To request a quote for a serviceC) To provide a quote for a productD) To request a quote for a product35. Which of the following is a common business term for a project?A) HobbyB) EndeavorC) Leisure activityD) Social event36. What is the main purpose of a "Terms of Service"?A) To outline the rules of a serviceB) To provide a menu of servicesC) To list the ingredients of a serviceD) To describe the manufacturing process of a service37. In international trade, what does "FCA" stand for?A) Free CarrierB) Free CarriageC) Free CartageD) Free Cargo38. Which of the following is a common business document used in accoun ting?A) Wedding invitationB) Recipe bookC) InvoiceD) Novel39. What does "B2G" stand for in business terms?A) Business to GovernmentB) Business to GroupC) Business to GuildD) Business to Guild40. Which of the following is a key element of a business letter?A) Personal anecdotesB) Formal languageC) Family historyD) Favorite recipes41. What is the primary purpose of a "Memorandum of Understanding"?A) To outline an agreement between partiesB) To provide a receipt for goods purchasedC) To list the ingredients of a productD) To describe the manufacturing process42. Which document is used to transfer ownership of goods in shipping?A) Commercial InvoiceB) Packing ListC) Bill of LadingD) Customs Declaration43. What does "B2E" stand for in business terms?A) Business to EmployeeB) Business to EmployerC) Business to EnvironmentD) Business to Enterprise44. Which of the following is a key element of a business contract?A) Personal diary entriesB) Detailed termsC) Favorite moviesD) Family tree45. What is the main purpose of a "Debit Note"?A) To provide credit to the buyerB) To correct an underchargeC) To request a discountD) To inquire about a product46. In international trade, what does "CPT" stand for?A) Carriage Paid ToB) Carriage Paid ThroughC) Carriage Paid TowardsD) Carriage Paid To Destination47. Which of the following is a common business document used in market ing?A) Wedding albumB) Recipe cardC) BrochureD) Novel48. What does "RFQ" stand for in business terms?A) Request for QuotationB) Request for QualityC) Request for QuantityD) Request for Question49. Which of the following is a key element of a business proposal?A) Personal hobbiesB) Market analysisC) Favorite foodsD) Family traditions50. What is the primary purpose of a "Specification"?A) To provide a detailed description of goodsB) To request a refundC) To inquire about pricesD) To negotiate a contract51. Which of the following is a common business term for a task?A) HobbyB) EndeavorC) Leisure activityD) Assignment52. What is the main purpose of a "Service Level Agreement"?A) To outline the level of service providedB) To provide a menu of servicesC) To list the ingredients of a serviceD) To describe the manufacturing process of a service53. In international trade, what does "DAP" stand for?A) Delivered at PlaceB) Delivered at PointC) Delivered at PortD) Delivered at Place of Destination54. Which of the following is a common business document used in procur ement?A) Wedding invitationB) Recipe bookC) Purchase OrderD) Novel55. What does "B2B2C" stand for in business terms?A) Business to Business to ConsumerB) Business to Business to CompanyC) Business to Business to CustomerD) Business to Business to Client56. Which of the following is a key element of a business presentation?A) Personal anecdotesB) Clear objectivesC) Personal opinionsD) Family photos57. What is the primary purpose of a "Terms and Conditions"?A) To outline the rules of a serviceB) To provide a menu of servicesC) To list the ingredients of a serviceD) To describe the manufacturing process of a service58. Which document is used to certify the quality of goods?A) Commercial InvoiceB) Packing ListC) Bill of LadingD) Certificate of Quality59. What does "B2B2B" stand for in business terms?A) Business to Business to BusinessB) Business to Business to BuyerC) Business to Business to BankD) Business to Business to Board60. Which of the following is a key element of a business report?A) Personal diary entriesB) Detailed analysisC) Favorite moviesD) Family tree61. What is the main purpose of a "Complaint Letter"?A) To express dissatisfaction with a serviceB) To provide a receipt for goods purchasedC) To list the ingredients of a productD) To describe the manufacturing process答案：1. A2. B3. A4. C5. D6. A7. A8. A9. A10. B11. A12. C13. A14. D15. B16. A17. B18. A19. C20. A21. B22. A23. A24. C25. B26. B27. A28. B29. B30. A31. C32. A33. B34. A35. B36. A37. A38. C39. A40. B41. A42. C43. A44. B45. B46. A47. C48. A49. B50. A51. D52. A53. A54. C55. A56. B57. A58. D59. A60. B61. A。

众所周知，在中国与欧洲的经贸关系中，欧盟占有重要的地位。

2008年中国与欧盟的贸易额占中国与欧洲贸易总额的77%，目前中国欧盟已互为第三大贸易伙伴。

欧盟是中国产品出口的一个传统市场，在我对外贸易中的比重不断上升。

与此同时，中国也成为欧盟一个重要出口市场，在其对外贸易中的比重也在上升。

欧盟还一直是中国引进先进技术和设备的重要来源。

中国与欧盟在先进技术，尤其是高科技产品方面的合作有助于欧盟扩大对华出口，也有利于中国企业产业升级、技术更新，符合双方利益，具有很大的发展空间。

It is widely acknowledged that the EU occupies an important position in terms of Sino-European economic and trade relation.In 2008,the trade volume between China and the EU accounted for 77% of Sino-European total trade.Currently,China and EU have mutually become the third largest trading partners.The EU is a traditional market for China's exports,the precentage of which is increasing in China's foreign trade.At the same time,China also has become an important market for the EU's exports and its percentage is also increasing in EU's foreign trade.The EU has always been an important source from which China introduces advanced technologies and equipments.The Sino-EU cooperation in the field of advanced technologies,especially the new and high-tech products,helps expand the EU exports to China and also helps Chinese enterprises upgrade their industries,renovate their technologies.All these are in the interests of both sides and have considerable space for further development.总结一年来的工作，我们清醒地看到，经济社会发展中还存在不少问题和困难。

48CHINA TODAYOpportunities that the UN 2030 Agenda, the Belt and Road Initiative, and the Global Development Initiative present can be fully leveraged to help de-veloping countries improve local manufacturing capacity, regional market integration, and inter-national industrial linkages. Developing countries and developed countries should cooperate on the security, digitization, and green transformation of global industrial chains and supply chains, thus to ensure development of the global industrial sys-tem in an efficient, resilient, and eco-friendly way.Third, financial, technological, and trade sup-port to developing countries should be strength-ened. The role of such multilateral institutions as the UN, the G20, the World Bank, the Asian Infrastructure Investment Bank, and the New De-velopment Bank should be brought into full play in efforts to provide the developing world with financial support for infrastructure and industrial development. Global climate governance should be advanced gradually, taking into consideration the industrialization needs of developing coun-tries, and offering technological support for green transformation. WTO reforms and negotiations should be promoted toward greater justice, and safeguard the policy space for developing coun-tries.Fourth, knowledge exchanges and mutual learning on multiple levels should be enhanced. International development agencies, think tanks, enterprises, and universities should be encour-aged to play their role in advancing knowledge cooperation on industrial development. Through various forms of activities, government officials and industrial practitioners can also spread devel-opment concepts and best practices, thus helping the knowledge sharing process. Entrepreneurship and vocational training in developing countries should be promoted to help their enterprises and workforces adapt to new technologies and indus-trial transformation. CCHEN XIAO is an associate research fellow at the Center for International Knowledge on Development. XU ZHAOYU-AN is a research fellow and deputy director general at the Research Department of Industrial Economics, the Develop-ment Research Center of the State Council.AS the world’s second largest economy, China’s economic upturn is having a posi-tive effect on the global economy. The Trade and Development Report 2023, released bythe United Nations Conference on Trade and De-velopment in early October, said China’s economy had picked up this year and will grow more than 10By LI XIAOYANGChineseEconomy’s Report Card for the First Three QuartersWith its current growth momentum, China will be able to fulfill its target of five percent GDPgrowth for this year.The Forbidden City in Beijing on November 11, 2023.times faster than that of the eurozone, serving as a major contributor to global economic growth.The Chinese economy grew by 5.2 percent year-on-year between January and September this year, according to data released by the National Bureau of Statistics (NBS) on October 18.“With its current growth momentum, China will be able to fulfill its target of five percent GDP growth for this year,” Sheng Laiyun, deputy head of the NBS, told a press conference on the day of the data’s release.“During the first three quarters, supply and demand also saw recovery, and the real economy sector showed positive signs,” said Sheng. Accord-ing to the NBS, the major indicators of the Chinese economy, including investment, consumption, and employment, have all gathered steam over recent months.“The Chinese economy picked up from a low base in the same period last year with better-than-expected performance in the first three quarters. The momentum of sound and stable economic growth has become even more of a normal,” said Wen Bin, chief economist at China Minsheng Bank.Mainstay GrowthConsumption, a key economic driver, contrib-uted 83.2 percent to China’s GDP growth in thefirst three quarters of this year. Retail sales of allconsumer goods went up 6.8 percent year-on-yearin the period to around RMB 34.21 trillion (US $4.77trillion). Online retail sales jumped 11.6 percentyear-on-year.China’s consumption has rebounded since thebeginning of this year as the economy has recoveredand in response to pro-consumption policies. Con-sumer spending on services saw rapid increase andunderpinned economic growth strongly, Sheng said.According to the NBS, retail sales of servicessurged 18.9 percent year-on-year during the firstthree quarters. Per-capita spending on serviceswent up 14.2 percent year-on-year during the nine-month period.Travel has been rebounding rapidly since earlierthis year. The travel boom during the holidays in thefirst three quarters suggested an almost revengefulconsumption by Chinese consumers. Brick-and-mortar businesses, from restaurants to cinemas,have also made a strong comeback.Consumersshopping at asupermarket inLianyungang,east China’sJiangsu Provinceon November 11,2023, China’s an-nual “Double 11”shopping festival.49December 2023China has not seen any downgrading of demand during the first three quarters. From the first quar-ter (Q1) to the third quarter (Q3), retail sales of gold, silver and jewelry, as well as those of sports and rec-reational goods, went up 12.2 percent and 8.3 per-cent year-on-year, respectively. Sales of new-energy vehicles rose 27.7 percent on a yearly basis.An uptick in employment has shored up the con-sumption sector. In Q1-3, the surveyed urban unem-ployment rate in China stood at 5.3 percent, down 0.3 of a percentage points from the same period in 2022. Per-capita disposable income reached RMB 29,398 (US $4,018) during the first three quarters, up 6.3 percent year-on-year.Investment in infrastructure went up 6.2 percent year-on-year in the first three quarters. To improve the urban living environment, urban village renewal in megacities has been carried out in many regions across the country. These infrastructure projects are expected to give a strong boost to investment. Ac-cording to the Ministry of Housing and Urban-Rural Development, the number of new urban village re-newal projects, which aim to renovate old commu-nities in urban areas across China, reached 49,800 between January and August this year. It plans tolaunch 53,000 such projects covering 8.65 million households nationwide this year.With supporting government policies, the prop-erty sector has also started to rebound. On August 31 this year, the financial authorities encouraged the easing of restrictions for first-home buyers, and allowed them to enjoy lower down payments and interest rates on mortgages. Major cities, including Guangzhou and Shenzhen in Guangdong Province, Beijing and Shanghai, implemented the policy in September.The number of transactions involving residential homes in China’s 70 major cities grew 2.8 percent month-on-month in September, the first positive growth following five straight months of decline, the NBS said.Bouncing BackIndustrial production during the first three quarters showed sound recovery. The value-added industrial output, an important economic indicator, saw four percent year-on-year increase in Q1-3. Theoutput of hi-tech products, such as solar cells andnew-energy vehicles, increased as both domesticand external demand increased.Another sign of the rebounding economy is theincreased electricity consumption. Power usageduring the first three quarters totaled around 6.86trillion kilowatt-hours, up 5.6 percent from a yearago.To support enterprises, especially micro andsmall firms, the central government has continu-ously introduced preferential policies. Taxpayerswith monthly sales revenue of no more than RMB100,000 (US $13,668) will continue to be exemptfrom value-added tax until the end of 2027, Chinesefinancial authorities said in August this year.The China Association of Small and Medium En-terprises announced in October that the outlook forsmall enterprises improved in Q3 from Q2. Perfor-mances of industrial, transportation and logisticscompanies enhanced greatly.The performances of micro and small enterprisesare better than those in the same period of 2022, preferentialTo support enter-prises, especiallymicro and smallfirms, the cen-tral governmenthas continuouslyintroduced pref-erential policies.50CHINA TODAYand are also beyond the 2021 Q1-3 level. Some com-panies still face difficulties including rising costs, declining turnover, and fund shortages, and have to cope with fierce competition. More support for the firms is needed to further boost domestic demand and enhance confidence, the association said. "There is still room to improve support for the real economy through monetary and fiscal policies in the fourth quarter, especially by directing funds to support micro and small enterprises and boost consumption," Xu Hongcai, deputy director of the Economic Policy Commission at the China Associa-tion of Policy Science, told the media.Better than ExpectedData from the General Administration of Cus-toms of China (GACC) showed that China’s foreign trade fell 0.2 percent year-on-year in the first three quarters. Exports grew by 0.6 percent year-on-year, while imports dropped 1.2 percent from a year ago. The year-on-year growth of global foreign trade is likely to stay below two percent this year. China’s foreign trade went up amid headwinds between Au-gust and September, largely a result of growing trade with emerging economies, Xu said.China’s trade with countries participating in the Belt and Road Initiative, proposed by China in 2013 to boost connectivity along and beyond the ancient Silk Road routes, rose 3.1 percent year-on-year to RMB 14.32 trillion (US $1.96 trillion) between Janu-ary and September this year, accounting for 46.5 percent of its total foreign trade value in the period, the GACC said.Hi-tech products are gaining an increasing share in China’s exports. The exports of lithium-ion batter-ies, manned electric vehicles and solar cells, which are the new three major products of China’s exports, increased by 41.7 percent year-on-year.SK On Jiangsu Co. Ltd., a company based in Yancheng, Jiangsu Province, is a manufacturer of electric vehicle batteries. As of August this year, it had exported lithium-ion battery products worth more than US $1.7 billion, exceeding its total ex-ports last year. The company is a joint venture be-tween SK Group, the third largest multinational in the Republic of Korea (ROK), and EVE Energy Co. Ltd., a Chinese lithium-ion battery company based in Guangdong Province.According to the company, it enjoyed around RMB 1.1 billion (US $150 million) in tariff reductions in January-September this year through preferential policies from the Regional Comprehensive Econom-ic Partnership, a free trade agreement consisting of 10 Association of Southeast Asian Nations (ASEAN) countries, as well as China, Japan, the ROK, Austra-lia and New Zealand. Certificates granted by local customs in Jiangsu have also helped cut the time needed for its products to pass through customs. External demand will rebound along with global economic recovery in the fourth quarter. As new industrialization and cutting-edge manufacturing remain a focus of government work, industrial up-grading will drive the real economy more strongly. Semi-conductor, 5G and new material industries will continue their rapid growth, Wen said. C (The article was first published by Beijing Review)LI XIAOYANG is a reporter with Beijing Review.Industrial robotsare weldingvehicles at aproduction linefor smart newenergy vehiclesin Jinhua, eastChina’s ZhejiangProvince, on April26, 2023.51December 2023。

外贸议价英文范文篇1In the world of foreign trade, bargaining plays a crucial role! How to master the key strategies and skills in the process of foreign trade bargaining is a question worth exploring. Take the case of negotiating with foreign suppliers for the purchase price. By conducting a detailed analysis of market trends and precise cost accounting, one can successfully lower the purchase price. For instance, when you notice that the supply of a certain product exceeds the demand globally, and your cost analysis shows that the current quoted price is higher than the reasonable range, you can present these facts firmly and rationally to the supplier. This could lead to a significant reduction in the purchase price!On the other hand, when promoting products to overseas customers, the application of negotiation skills is equally important. By highlighting the unique features and superior quality of your products, and demonstrating their added value compared to competitors, you can skillfully raise the selling price and still reach a deal. For example, if your product has obtained certain certifications or has advanced technological advantages, you should emphasize these points during the negotiation. How wonderful it is when a successful transaction is achieved at a higher price!In conclusion, in the complex field of foreign trade bargaining, a combination of in-depth market understanding, accurate cost calculation, and excellent communication skills is essential. Isn't it? Only by doing so can we achieve favorable trading conditions and win in the fierce international market competition!篇2When it comes to foreign trade bargaining, cultural differences play a crucial role and can have a significant impact on the outcome. For instance, in negotiations with clients from some countries, a lack of understanding of their cultural customs can easily lead to a deadlock in the bargaining process. Take the Japanese market for example. They attach great importance to formality and politeness. If we are too direct and aggressive in our bargaining approach, it might cause discomfort and make the negotiation difficult to proceed.However, there are also cases where respecting the other party's culture and adopting an appropriate communication style leads to a successful bargaining. When dealing with clients from Germany, known for their emphasis on precision and efficiency, presenting detailed and accurate information in a clear and organized manner can greatly enhance the chances of reaching a favorable agreement.So, it is clear that understanding and respecting cultural differences is not just a matter of courtesy but a key factor in achieving a successfulforeign trade bargain. How can we better grasp these differences and turn them into advantages? This is a question that demands our deep thought and continuous learning.篇3In the world of foreign trade, bargaining plays a crucial role. However, it is not all smooth sailing as there are numerous legal risks lurking in the process! For instance, consider a case where the contract terms were ambiguous. This led to a fierce legal dispute during the bargaining stage. The confusion over pricing, delivery schedules, and quality standards caused a great deal of confusion and conflict. How disastrous it was!On the contrary, when businesses take the initiative to familiarize themselves with relevant laws and regulations in advance, they can effectively avoid risks and ensure a smooth bargaining process. For example, a company thoroughly studied the trade laws of the target country before entering into negotiations. They clearly defined every detail in the contract, leaving no room for ambiguity. As a result, the bargaining went smoothly and both parties were satisfied. Isn't it wonderful?To sum up, in foreign trade bargaining, we must be highly vigilant about legal risks. We should carefully draft clear and comprehensive contract terms. We should also keep ourselves updated with the latest legal developments. Only in this way can we successfully navigate through the complex world of foreign trade bargaining and achieve win-win outcomes.How important it is to do so!篇4In the world of foreign trade, the art of bargaining holds immense significance. The language skills and communication methods employed can make or break a deal! How crucial it is to master this art.Let's take an example. Once, a smart negotiator used polite and respectful words, along with a friendly tone. They emphasized the mutual benefits and long-term cooperation prospects. "Wouldn't it be wonderful if we could both find a win-win solution that benefits us for years to come?" This approach won the trust of the counterpart, and the bargaining ended successfully.However, there are also cases where things went wrong. A hasty negotiator used harsh and demanding language, "You must accept this price or we have nothing to talk about!" Such an improper expression led to misunderstandings and the negotiation failed.So, it's clear that the right choice of words and tone can work wonders. We should always be polite, understanding, and flexible. We need to show respect for the other party and strive for a balance of interests. Isn't that the key to successful foreign trade bargaining?篇5In today's highly competitive global marketplace, the art of foreigntrade bargaining strategies has become an indispensable skill for businesses. Take the example of Company X, which successfully adapted its bargaining tactics to meet the diverse needs of clients. By offering customized price packages and flexible payment terms, they were able to secure numerous orders and expand their market share! How amazing is that?On the contrary, consider Company Y that stubbornly adhered to a rigid bargaining approach. They refused to budge on prices and terms, even in the face of fierce competition. As a result, they lost many potential customers and saw their market share dwindle. How could they make such a fatal mistake?In a market where customers have countless options, being flexible and understanding their demands is crucial. A smart business should know when to compromise and when to hold firm. Isn't it essential to strike the right balance? The ability to negotiate effectively can mean the difference between success and failure in foreign trade. So, shouldn't companies invest more in training their staff on these vital skills and strategies? After all, in this highly competitive world, only the adaptable and strategic can thrive and prosper!。

小学上册英语上册试卷(有答案)英语试题一、综合题(本题有100小题，每小题1分，共100分.每小题不选、错误，均不给分)1.The bat uses sound to find its ______.2.The lemur has big _______ (眼睛).3.The tortoise hides in its _______ (壳).4.What do we call the science of studying plants?A. BotanyB. ZoologyC. EcologyD. Anthropology答案:A5.The chemical symbol for sodium is __________.6._____ (floral) arrangements are beautiful for events.7.My brother enjoys participating in __________ (社区活动).8.The _____ (乌龟) moves slowly. It has a hard shell to protect itself. 乌龟走得很慢。

它有一个坚硬的壳来保护自己。

9.My ___ (小狗) loves to play in the snow.10.The cake is _____ (delicious/yummy).11.The chemical symbol for phosphorus is ____.12.The emu is a large, flightless ______ (鸟).13.I have _______ (many) friends at school.14.The __________ (政治变迁) influence the course of a nation’s history.15.The __________ is a famous mountain in the United States. (洛基山)16.The ____ is a small insect that can be found in many gardens.17.What is the name of the national flower of Japan?A. RoseB. Cherry BlossomC. LotusD. Sunflower答案:B18.My dad enjoys __________ (上网).19.The process of plants making their own food is called ______.20. A rabbit has long ______ for jumping.21.My dad is very __________ (积极).22.I enjoy helping my parents cook dinner on ______ (周末).23.My friend is a ______. He loves to draw cartoons.24.The signing of the Declaration of Independence occurred in ________ (费城).25.I always try to help my classmates when they need ________ (帮助) with their work.26.The chemical symbol for titanium is __________.27.What is the term for animals that only eat plants?A. HerbivoresB. CarnivoresC. OmnivoresD. Insectivores答案:a28.The oak tree is a strong ______ (树种).29.The city of Seoul is the capital of _______.30.I wear _____ (shoes/socks) to school.31.The Earth's surface is shaped by weathering and ______.32.An alloy is a mixture of two or more ________.33. A rainbow appears when light passes through _______.34.The flowers smell _____ (sweet/bad).35.What do we call a group of wolves?A. PackB. FlockC. SchoolD. Colony答案:A.Pack36. A ________ (草原) is open and spacious.37.Geothermal energy comes from the heat within the ______.38.My cat loves to chase after _________ (光点).39.The game is very ________.40.The _______ (The Vietnam War) left a lasting impact on US foreign policy.41. (Great Wall) was built to protect China from invasions. The ____42. A solution that can conduct electricity is called an ______ solution.43.I like to play ______ (棋盘游戏) with my family on weekends.44.The ________ (繁茂) of a garden is a joy to see.45.I have _____ (two/three) brothers.46.What do we call the process of restoring damaged ecosystems?A. RehabilitationB. RestorationC. RemediationD. Conservation答案:B.Restoration47.What do we call a group of turtles?A. NestB. PodC. BaleD. Turn答案:A.Turn48.t brothers' first flight took place in ________ (北卡罗来纳州). The ___49.The Earth's atmosphere is composed mainly of nitrogen and ______.50.She has a pretty ________.51.The ______ helps us learn about art.52. A ________ (鹦鹉) can talk and mimic sounds very well.53.My dog enjoys _______ (散步) with me.54.We need to __________ our project.55.Every morning, I listen to _______ (音乐类型) while getting ready. It makes me feel _______ (形容词).56.The __________ is a famous area known for its wineries.57.The bee collects ______ (花蜜) from flowers.58.The __________ were fierce warriors from Scandinavia. (维京人)59. A chemical bond can be ionic or ______.60. A _______ (金鱼) brings joy to its owner.61.We will have ______ for dessert. (cake)62.The park is _______ (适合家庭)。