10-1

10-2


Outsourcing (offshoring) – a new form of international trade

Reduces costs of production (labour cost)

Which kinds of jobs are affected?

Which countries are affected?

The case of India – advantages

What is the extent of outsourcing?

Government economic policy in cases of outsourcing?
10-3


International trade, working conditions in developing countries and child labour

Does international trade help improve working condition in LDCs?

Does international trade contribute to an increase in child labour?

Should we boycott imports from countries/companies that allow child labour

How can we resolve the problem?
10-4


The European Union

The euro – a supranational currency

Advantages of a common currency

Disadvantages?

The experience of using the euro

The geographic expansion of the European Union

Requirements for joining the EU

Benefits of joining the EU

Costs?
10-5


China’s revalues its currency

China’s fixed exchange rate was below market value, making Chinese imports cheaper and contributing to a trade deficit of the US with China

To maintain the fixed exchange rate the Chinese government bought US dollars and sold yuan.

These US $ were used to purchase US government bonds

Was the yuan overvalued?

China has a small trade surplus overal

Saving rates in China are very high suggesting a surplus
10-6





No-one is in charge of the whole world economy in the sense that governments are in charge of the national economy
Each country has its own currency and currency values fluctuate
Each country has its own fiscal policy which causes movement of capital
The factors of production are mobile across countries
10-7

th
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

Peter H. Lindert
Professor of Economics
University of California, Davis
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

Thomas A. Pugel
Professor of Economics and Global
Business
Stern School of Business





What ?
Why ?
Contents
Study guide
10-11

1.1.1 Economics
1.1.2 International Economics
Economics for international economic relations


International trade
International Finance
10-12

1.2 Importance of the Subject
Help us understand
International economic relations
10-13

10-14

World trade value in 2008
Merchandise: US$16070 billion
Services: US$3780 billion
10-15

Trade volume
World Merchandise Export: 5%
World Merchandise Production: 2.5%
Trade value
World Merchandise Export: 12%
China’s Merchandise Export: 24%
World Export in commercial services: 12%
China’s Export in commercial services: 22%
10-16


Primary goods

初级产品
Manufactured products
工业制成品
10-17

What services are traded?
Modes of supplying services:




Cross-border Supply
跨境提供
Consumption Abroad
境外消费
Commercial Presence
商业存在
Presence of Natural Persons
自然人流动
10-18

What services are traded?

Business services (including professional services and computer services)

Communication services

Construction and related engineering services

Distribution services

Educational services

Environmental services
10-19

What services are traded?

Financial services (including insurance and banking)

Health-related and social services

Tourism and travel-related services

Recreational, cultural and sporting services

Transport services

Other services not included elsewhere
10-20

China’s ranks in world trade
Leaders in world merchandise trade, 2005
Rank Exporter
1 Germany
2 USA
3 China
4 Japan
5 France
6 Netherlands
7 UK
8 Italy
9 Canada
10 Belgium
Share % Rank Importer
9.3
1 USA
8.7
7.3
2 Germany
3 China
5.7
4.4
3.9
3.6
3.5
3.5
4 Japan
5 UK
6 France
7 Italy
8 Netherlands
9 Belgium
3.2
10 Canada
Share %
16.1
7.2
6.1
4.8
4.7
4.6
3.5
3.3
3.0
3.0
10-21

1 People's Republic of China $1,194 bln
2 Germany
3 United States
4 Japan
5 France
6 Netherlands
7 Italy
8 South Korea
9 United Kingdom
—
Hong Kong
10 Canada
$1,187
$994
$516
$457
$398
$369
$355
$351
$327
$299
10-22

China’s ranks in world trade
Leaders in world service trade, 2005
Rank Exporter
1 USA
2 UK
3 Germany
4 France
5 Japan
6 Italy
7 Spain
4.7
4.4
3.9
3.8
8 China 3.4
9 Netherlands 3.1
10 India
Share % Rank Importer
14.6
1 U S
7.6
5.9
2 Germany
3 UK
2.8
4
5
6
7
10
Japan
France
Italy
China
India
Share %
12.2
8.4
6.4
5.8
4.4
3.9
3.6
8 Netherlands 2.9
9 Ireland 2.9
2.9
10-23

Rank Exporters
1 United States
2 United Kingdom
3 Germany
4 France
5 China
6 Japan
7 Spain
8 Italy
9 India
10 Netherlands
146.4
146.4
142.6
121.9
102.6
101.6
Value Share Rank
521.4
13.8
1
283.0
7.5
2
241.6
160.5
6.4
3
4.2
4
3.9
5
3.9
6
3.8
7
3.2
8
2.7
9
2.7
10
Importers
United States
Germany
UK
Japan
China
France
Italy
Ireland
Spain
Korea
158.0
139.4
131.7
106.2
104.3
91.8
Value
367.9
283.0
196.2
167.4
3.0
3.0
2.6
4.5
4.0
3.8
Share
10.5
8.1
5.6
4.8
10-24

Part One
The Theory of International Trade
Chapters 2 – 6
Part Two
International Trade Policy
Chapters 7 – 14
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

Part One Trade Theories
Chapter 2
The Basic Theory Using Demand and Supply
国际贸易的供求分析
2004 China shoe industry
Production : 7 billion pairs
Consumption: 2 billion pairs
Exports: 5 billion pairs
2004 Crude oil 原油
Production : 1.75 亿吨
Consumption: 2.9
亿吨
Imports: 1.17
亿吨
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

Chapter 3
Why Everybody Trades:
Comparative Advantage
贸易的动因：比较优势
 Comparative Advantage

What is China’s Comparative Advantage?
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

Chapter 4
Trade: Factor Availablity and Factor
Proportions Are Key
贸易的关键 : 要素可获得性与要素比例

More Factors of Production

H-O Theorem
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

China’s Comparative Advantage



Labor-intensive products
劳动密集型产品 √
Capital-intensive products
资本密集型产品 ?
Technology-intensive products
技术密集型产品
╳
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

Imports and Exports of China 2005
商品类别
初级产品
工业制成品
有色金属
钢铁
化学产品
其他半成品
机械及运输设备
纺织品
服装
其他制成品
出口金额
( 亿美元 )
490.4
进口金额
( 亿美元 )
1,477.1
7,129.6
109.4
5,124.1
170.9
192.8
357.7
578.5
263.4
777.4
222.3
3,522.6
410.5
741.7
1,216.3
2,906.3
155.0
16.3
612.5
10-30

Can China produce and export large civil aircraft?
Boeing
Airbus
10-31

Chapter 5
Who Gains and Who loses from Trade?
国际贸易对福利的影响
Factor owners in exporting industries?
Or those in importing industries?
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

Chapter 6 Scale Economies, Imperfect
Competition, and Trade
规模经济、不完全竞争与贸易
 Intra-Industry Trade
产业内贸易
 Product differentiation
产品差异
 Economies of scale
规模经济
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

10-34


Immiserizing Growth
贫困化增长

Terms of Trade
贸易条件
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

中国进口税率示例
商品编码 商品名称
22083000 威士忌酒
22051000 小包装味美思酒
及类似酒
87032334 汽油型中马力小
轿车
90064000 一次成相照相机
91052900 机械挂钟
优惠税率 普通税率
10
65
180
180
25
5
20
270
70
100
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

中国汽车进口关税的调整
 1994: 110 - 150%
 1997: 80 - 100%
 2002: 43.8 - 50.7%
 2003: 38.2
％ - 43 ％
 2004: 34.2
％ - 37.6
％
 2005: 30%
 2006: 28%; July 1: 25%
10-38

Chapter 9
Nontariff Barriers to Imports
非关税贸易壁垒
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

10-40

Chapter 10
Arguments for and against Protection
支持和反对贸易保护的理由
 Infant industries
幼稚产业
 Sunset industries
夕阳产业
 Non-economics arguments
非经济理由
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

 Dumping 倾销
 Subsidies 补贴
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

WTO Antidumping 1995-2005
Exporter Dumping
Charges
China 469
Korea
United
States
Chinese
Taipei
218
162
160
Japan
WTO Total
Exporter Antidumping
Measures
China
Korea
Chinese
Taipei
United
States
125 Japan
2840 WTO Total
338
127
99
95
89
1804
10-43

10-44

Some trade blocs
 The European Union 欧盟
 NAFTA 北美自由贸易区
 ASEAN 东南亚国家联盟
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

Map of the EU
10-46

Map of NAFTA
10-47

Map of ASEAN
10-48

Chapter 13
Trade and the Environment
贸易与环境
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

10-50

10-51

Chapter 13
Trade Policies for Developing Countries
发展中国家的贸易政策
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

10-53

Chapter 15
Multinationals and Migration:
International Factor Movement
跨国公司与移民：生产要素的国际流
动
 Multinational Enterprise (MNE)
跨国公司
 Foreign Direct Investment (FDI)
对外直接投资
 Intra-firm Trade
公司内贸易
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

Fortune Global 500 Top 10 (2006)
Rank Company Revenues
($ blns)
1 Exxon Mobil 339.9
4
5
2
3
Wal-Mart Stores
Royal Dutch Shell
BP
General Motors
315.7
306.7
267.6
192.6
8
9
6
7
Chevron
DaimlerChrysler
Toyota Motor
Ford Motor
10 ConocoPhillips
189.5
186.1
185.8
177.2
166.7
10-55

Fortune Global 500 Top 10 (2010)
Rank
3
4
5
1
2
BP
Company
Wal-Mart Stores
Royal Dutch Shell
Exxon Mobil
Toyota Motor
6
7
Japan Post Holdings
Sinopec
8
9
State Grid
AXA 法国安盛
10 China National Petroleum
10-56

Fortune Global 500: China Top 10 (07)
Rank
17
24
29
170
180
192
215
230
237
275
Company
Sinopec
China National Petroleum
State Grid
Industrial & Commercial Bank of China
China Mobile Communications
China Life Insurance
Bank Of China
China Construction Bank
China Southern Power Grid
China Telecommunications
10-57

Fortune Global 500: China Top 10 (2010)
Rank
7
8
10
77
87
116
118
133
137
141
Company
Sinopec
State Grid
China National Petroleum
China Mobile Communications
Industrial & Commercial Bank of China
China Construction Bank
China Life Insurance
China Railway Construction
China Railway Group
Agricultural Bank of China
10-58

Migration
 United States
Net Migration: 6,333,941 (April 2000 - July 2005 )
 Canada
Permanent Residents by Categories
Category
Family class
Economic immigrants
Refugees
Other immigrants
Total
2003 2004 2005
65,129 62,260 63,352
121,047 133,745 156,310
25,984 32,687 35,768
9,191 7,132 6,796
221,352 235,824 262,236
10-59







Preview the textbook
Take notes
Think about it
Read articles or news reports
Do homework
Review
10-60

参考资料
阅读
1
际贸
问题
对
经济贸
办
2
际贸
务
际经济
贸
办
3
财贸经济
财贸
办
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.

大卫 · 李嘉图：《政治经济学及赋税原理》，商务印书馆
亚当 · 斯密：《国民财富的性质和原因的研究》，商务印书馆
保罗 · 克鲁格曼，茅瑞斯 · 奥伯斯法尔德：《国际经济学》，第三
章“规模经济、不完全竞争和国际贸易”，中国人民大学出版
彼得 · 林德特：《国际经济学》 经济科学出版社 http://www.wto.org
McGraw-Hill/Irwin Copyright  2009 by The McGraw-Hill Companies, Inc. All rights reserved.