In international trade it is almost impossible to mach payment with physical delivery(实际交货) of the goods, which constitutes conflicting problems for trade, since the exporter prefers to get paid before releasing the goods and the importer prefers to gain control over the goods before paying the money. The letter of credit is an effective means to solve these problems. Its objective is to facilitate international payment by means of the credit-worthiness of the bank. This method of payment offers security to both the seller and the buyer. The former has the
security to get paid provided (假如) he presents impeccable（没有缺陷的）documents while the latter has the security to get the goods required through the documents he stipulates in the credit. This bilateral security is the unique and characteristic feature of the letter of credit.
“Letter of credit” is often shortened as L/C or L.C. and is sometimes referred to as “banker’s commercial letter of credit”, “banker’s credit”, “commercial credit” or simply “credit”. Modern credits were introduced开始采用in the second half of the 19th century and had
substantial development after the First World War. The credit is a letter issued by a bank at the request of the importer in which the bank promises to pay upon presentation of the relevant documents. It is actually a conditional bank undertaking（承诺）of payment.
The operation of the letter of credit starts with the importer. He instructs his bank to issue an L/C in favor of the seller（以…为收益人）for the amount of the purchase. Here the importer is called the applicant （开证申请人）, or opener, principal etc., the bank that issues the credit is
called the opening bank, the issuing bank or the establishing bank, (开证行) and the exporter in whose favor the credit is opened is called the beneficiary（受益人）. The opening bank sends the credit to its correspondent bank（往来行）in the exporter’s country, who will, after examining（检查）the credit, advise （通知）the exporter of its receipt. Here the correspondent bank is called the advising bank（通知行）. The exporter or beneficiary will make a careful examination（仔细检查）of all the contents of the credit and will request the opener to make
amendments修改to any discrepancies （不一致）in the credit so as to ensure safe and timely payment. Sometimes the exporter may require a confirmed letter of credit (保兑信用证) either because the credit amount is too large, or because he does not fully trust the opening bank. The bank that adds its confirmation（保兑）to the credit is called the confirming bank which is undertaken（承担）either by the advising bank or another prime （big）bank. When everything with the credit is in order, the exporter will prepare the relevant documents
based on the credit and dispatch the goods to the importer. Then he will present the draft and the accompanying documents to the advising bank that pays or accepts (承兑) or negotiates（议付）the bill of exchange. The advising bank then also becomes the paying bank which acts as the agent of the opening bank and gets reimbursed（pay back）by the opening bank after paying the beneficiary. If a bank, either nominated （指定）by the opening bank or at its own choice, buys the exporter’s draft submitted to it under a credit, it is called a negotiating
bank (议付行). The draft and the documents will then be sent to the opening bank for reimbursement（偿付）.
Letters of credit are varied in form, length, language, and stipulations. Generally speaking, however, they include the following contents:
1. The number of the credit and the place and time of its establishment.
2. The type of the credit.
3. The contract on which it is based.
4. The major parties relevant to the credit, such as the applicant, opening bank, beneficiary, advising bank. etc.
5. The amount or value of the credit.
6. The place and date on which the credit expires（失效）.
7. The description of the goods including name of commodity, quantity, specifications, packing, unit price, price terms, etc.
8. Transportation clause（条款）including the port of shipment, the port of destination, the time of shipment, whether allowing partial shipments or transshipment（转船）.
9. Stipulations relating to the draft.
10. Stipulations concerning the shipping documents required.
11. Certain special clauses if any.
e.g. restrictions on the carrying
vessel（承运船只）and the route.
12. Instructions to the negotiating bank.
13. The seal or signature of the opening bank.
14. Whether the credit follows “the uniform customs and practice for documentary credits”.
The letter of credit provides security to both the exporter and the importer. However, it only assures payment to the beneficiary provided the terms and conditions of the credit are fulfilled. It does not guarantee that the goods purchased will be those invoiced or shipped. It is
stipulated in Article 4 of the uniform customs and practice for documentary credit that “in credit operations all parties concerned deal in documents, and not in goods, services and/or other performance to which the documents may relate”. That is to say the banks are only concerned with the documents representing the goods instead of the underlying contracts. They have no legal obligation whether the goods comply with the contract. They will be considered as having fulfilled their responsibility so long as all the documents comply with the
stipulations of the credit. The quality and quantity of merchandise shipped, although specified in the documents, ultimately depend on the seller who has manufactured, packaged, and arranged shipment for the goods.If the importer finds any problems with the goods, e.g. inferior quality or insufficient quantity, he has to contact or even take legal action against the exporter instead of the bank so long as the documents are “proper” on their face.
Lesson10 International Payment Generally speaking, it is not very difficult for buyers and sellers in domestic trade to get to know each other’s financial status and other information, and payment is likely to be made in a straightforward manner, say（for example）by remittance or by debiting the debtor’s account. In international trade, however, things are far more complicated. Purchase and sale of goods and services are carried out beyond national boundaries, which make it rather
difficult for the parties concerned in the transaction to get adequate information about each other’s financial standing and creditworthiness (资信；信誉). Therefore, mutual trust is hard to build. Both the exporter and importer face risks as there is always the possibility that the other party may not fulfill the contract. For the exporter there is the risk of buyer default（不按期付款）. The importer might fail to pay in full for the goods. He might go bankrupt.
Unit 1 Never Give In, Never, Never, Never Winston Churchill Almost a year has passed since I came down here at your Head Master's kind invitation in order to cheer myself and cheer the hearts of a few of my friends by singing some of our own songs. The ten months that have passed have seen very terrible catastrophic events in the world—ups and downs, misfortunes—but can anyone sitting here this afternoon, this October afternoon, not feel deeply thankful for what has happened in the time that has passed and for the very great improvement in the position of our country and of our home? Why, when I was here last time we were quite alone, desperately alone, and we had been so for five or six months. We were poorly armed. We are not so poorly armed today; but then we were very poorly armed. We had the unmeasured menace of the enemy and their air attack still beating upon us, and you yourselves had had experience of this attack; and I expect you are beginning to feel impatient that there has been this long lull with nothing particular turning up! But we must learn to be equally good at what is short and sharp and what is long and tough. It is generally said that the British are often better at the last. They do not expect to move from crisis to crisis; they do not always expect that each day will bring up some noble chance of war; but when they very slowly make up their minds that the thing has to be done and the job put through and finished, then, even if it takes months—if it takes years—they do it. Another lesson I think we may take, just throwing our minds back to our meeting here ten months ago and now, is that appearances are often very deceptive, and as Kipling well says, we must "... meet with Triumph and Disaster. And treat those two impostors just the same." You cannot tell from appearances how things will go. Sometimes imagination makes things out far worse than they are; yet without imagination not much can be done. Those people who are imaginative see many more dangers than perhaps exist; certainly many more will happen; but then they must also pray to be given that extra courage to carry this far-reaching imagination. But for everyone, surely, what we have gone through in this period—I am addressing myself to the school—surely from this period of ten months this is the lesson: never give in, never give in, never, never, never, never—in nothing, great or small, large or petty—never give in except to convictions of honour and good
商务英语词汇大全abroad adv.在国外，出国，广泛流传 absence n.缺席，离开 absent adj.不在，不参与 absenteeism n.（经常性）旷工，旷职absorb v.吸收，减轻（困难等）作用或影响abstract n.摘要 access n.接近（或进入）的机会，享用权v.获得使用计算机数据库的权利 accommodation n.设施，住宿 account n.会计账目 accountancy n.会计工作 accountant n.会计 accounts n.往来账目 account for解释，说明 account executive n.（广告公司）客户经理accruals n.增值，应计 achieve v.获得或达到，实现，完成acknowledge v.承认，告知已收到（某物），承认某人 acquire v.获得，得到 acquisition n.收购，被收购的公司或股份acting adj.代理的 activity n.业务类型 actual adj.实在的，实际的，确实的 adapt v.修改，适应 adjust v.整理，使适应 administration实施，经营，行政administer v.管理，实施 adopt v.采纳，批准，挑选某人作候选人advertise v.公布，做广告 ad n.做广告，登广告 advertisement n.出公告，做广告advertising n.广告业 after-sales service n.售后服务agenda n.议事日程 agent n.代理人，经纪人 allocate v.分配，配给 amalgamation n.合并，重组 ambition n.强烈的欲望，野心amortize v.摊还 analyze v.分析，研究 analysis n.分析，分析结果的报告 analyst n.分析家，化验员 annual adj.每年的，按年度计算的 annual general meeting（AGM）股东年会anticipate v.期望 anticipated adj.期待的 appeal n.吸引力 apply v.申请，请求；应用，运用 applicant n.申请人 application n.申请，施用，实施appointee n.被任命人 appraisal n.估量，估价 appreciate v.赏识，体谅，增值appropriate v.拨出（款项） approve v.赞成，同意，批准 aptitude n.天资，才能 arbitrage n.套 arbitration n.仲裁 arrears n.欠账 assemble v.收集，集合 assembly line n.装配线，流水作业线assess v.评定，估价 asset n.资产 current asset n.流动资产 fixed asset n.固定资产 frozen asset n.冻结资产 intangible assets n.无形资产 liquid assets n.速动资产 tangible assets n.有形资产 assist v.援助，协助，出席 audit n.查账，审计 automate v.使某事物自动操作 average n.平均，平均水准 awareness n.意识；警觉 backing n.财务支持，赞助 backhander n.贿赂 backlog n.积压（工作或订货） bad debt死账（无法收回的欠款）balance n.收支差额，余额 balance of payments n.贸易支付差额balance sheet n.资产负债表
人教版高中英语必修四Unit 4课文翻译 Unit 4 Body language ―Reading― COMMUNICATION: NO PROBLEM? 交际：没有问题了吗? Yesterday, another student and I, representing our university's student association, went to the Capital International Airport to meet this year's international students. 昨天，我和另一个学生代表我们学校的学生会，到首都国际机场迎接今年的留学生。They were coming to study at Beijing University. We would take them first to their dormitories and then to the student canteen. 他们来北京大学学习。我们会首先把他们带到宿舍，然后去学生食堂。After half an hour of waiting for their flight to arrive, I saw several young people enter the waiting area looking around curiously. 在等了半个小时之后，我看见几个年轻人走进了等候区，好奇地向四周张望。I stood for a minute watching them and then went to greet them. 站着观察了他们一分钟后，我便走过去跟他们打招呼。 The first person to arrive was Tony Garcia from Colombia, closely followed by Julia Smith from Britain. 第一个到达的是从哥伦比亚来的托尼?加西亚，随后紧跟着的是英国的朱莉娅?史密斯。After I met them and then introduced them to each other, I was very surprised. 在与他们碰面并介绍他们彼此认识之后，我(对看到的情景)感到很吃惊。
新编国际商务英语阅读教程译文 第一单元国际贸易理论 重商主义 世界上第一个国际贸易理论——重商主义，产生于16世纪中期。重商主义宣 称金银是一国财富的支柱，是繁荣商业所不可或缺的。当时，金银是国家间的贸易 货币，出口国赚取金银，同样从他国进口货物，导致金银的外流。重商主义认为出 口大于进口从而保持贸易顺差是一国的根本利益。这样，一国积累金银，最终使国 家财富增加，国家地位得以提升。正如1930年，英国重商主义学者托马斯?孟所说: 增加一国财富的最普遍的做法是对外贸易，而且我们必须遵守这样的规则:每 年出口产品的价值要大于进口产品的价值。 遵循这一说法，重商主义提倡政府干涉，以确保贸易顺差。重商主义认为大量 的贸易额并没有什么益处。他们建议颁布政策以扩大出口，限制进口。具体做法可 以是对进口施加关税和对配额进行限制，对出口则给予补贴。 1752年古典经济学 家大卫?休谟指出了重商主义学说的缺陷。据休谟所说，如果英国对法国贸易顺差(即出口大于进口)，相应的金银的流入会导致英国国内货币供应充足，从而产生通 货膨胀。而法国会因为金银的外流产生相反的效应——通货紧缩，价格降低。英法 之间相对价格的变化将促使法国的进口商购买的英国货物数量减少(因为英国货物 变得昂贵)，英国的进口商将购买更多法国的货物(因为法国货物价格降低)。结 果，英国贸易收支状况不断恶化，法国贸易收支逐步得到改善，这种情况一直持续 到英国的顺差被抵消。因此，休谟认为，长期来看，没有国家能够如重商主义者所 想象的那样保持贸易顺差。 除了休谟指出的缺陷之外，重商主义的另一缺限在于其视国际贸易为零和博弈(零和博弈是指一国得益必导致另一国受损)。亚当?斯密和大卫?李嘉图指出了重商
Transaction 交易customs area 关税区 in compliance with 遵从conversion 货币兑换visible trade 有形贸易resale 转售 gross domestic product国内生产总值invisible trade 无形贸易for short 缩写为account for 占…比例headquarters 总部trap 陷阱，圈套 portfolio investment 证券投资stocks 股票 bonds 债券maturity （票据等）到期，到期日certificate of deposit 大额存单licensing许可经营 franchising 特许经营trademark 商标 advisable 可行的patent 专利royalty 专利使用费；copyright 版税licensor 给予许可的人 licensee 接受许可的人franchiser 给予特许的人franchisee 接受特许的人logo 标志；标记management contract 管理合同 expertise 专门知识bonus 红利；津贴；奖金 flat 一律的，无变动的value chain 价值链 contract manufacturing 承包工程 turnkey project “交钥匙”工程clue 线索 BOT（Build，Operate，Transfer）建设经营移交stand for 代表variant 变形/体potential 潜力national income 国民收入bulk 大量的；大宗的 GNP 国民生产总值per capita income 人均收入PPP 购买力平价consumerism 消费，消费主义income distribution 收入分布 Organization of Economic Cooperation and Development 经济合作与发展组织 infra structure 基础设施Commonwealth of Independent States 独立国家联合体 staple goods 大路货tap 开发hemisphere 半球observation（经观察而得到的）看法haven 避风港；安全之地spur 促进creditor country 债权国proximity 临近ASEAN 东南亚国家联盟witness 亲历economic integration 经济一体化liberalize 使自由put up barriers 设置障碍fall under分成几部分free trade area自由贸易区tariff rates 关税税率NAFTA 北美自由贸易协定customs union 关税同盟detour 迂回；绕行common market 共同市场adoption 使用，采用euro 欧元erode 侵蚀autonomy 自治sovereign state 主权国家political entity 政治实体set the stage of 为、、做准备；促成monumental 重要的，有纪念意义的landmark 地标；里程碑signatory 签字国；签字人settlement 结算banknotes 纸币；钞票circulation货币流通executive body 行政机构，执行机构European Commission欧盟委员会veto 否决commissioner 委员，特派员，专员council of ministers 部长理事会empower 授予权力 multi-polarization 多极化tenet 原则；宗旨Dual-Ministerial Meeting 双部长会议 cartel 卡特尔，联盟OPEC 石油输出国组织 globalization 全球化frequency 频繁，频率 interactive 相互作用的element 要素；组成成分；元 素value 价值观acclaim 欢呼；欢迎；喝彩 adverse 不利的；反对的controversial 引起争议的 instrumental 有作用的internationalization 国际化 facilities 设施；设备；工具label 把称为；把归类 employ 用；使用assets 资产incorporate 吸收；合并 purpot 声称；自称headquarters 总部 international economic environment国际经济环境 double digit 两位数字survival 继续生存 embark（on）开始；从事gigantic 庞大的；巨大的 intervene 干预；干涉technical improvements 技术进 步derivation 获得day-to-day running 日常管理 decentralize 分散；放下（权利）wield 操控；控制 jurisdiction 权利；管理范围vehicle 工具；手段 delegate power to…对、、、授权affiliate 分支机构； 附属机构mover 原动力，推动力define 下定义 services 劳务distri natural resources 自然资源 abundant 丰富的scarce缺少，缺乏primary commodities 初级产品incentive 刺激 specialization 专业化constitute 构成，形成remainder 剩余的，余数hold 认为in terms of 在…方面 illustrate 说明table 表格，图表assume 假设 efficient 有效的，效率高的occur 发生，产生law 规 则，法则even if 即使disadvantage 不利with respect to 关exploit 利用，开发static 静止的 endowment of nature 自然的赋予up-to-date 现代的， 新式的intuitive 直觉的，直观的appeal 吸引力 absolute adantage 绝对利益comparative advantage 比较利益strategic 战略的reduce 减少bulky 笨 重的，庞大的perishable 易碎的protectionist 保护主 义的barrier障碍typical 典型的tariffs 关税 quota 配额levy 征收，收取coincide 巧合；偶合 customs union 关税联盟import duties 进口关税 export duties 出口关税ad valorem 按价；从价 specific 从量的compound duties 复税，混合关税 drawback 退税refund 偿还；退还 most-favoured-nation（MFN）treatment 最惠国待遇 signatory 签字国concession让步tariff schedule 税率 表；税则non-tariff barrier 非关税壁垒impose 加强 unilaterally 单方面地label 标签，标记，标号 voluntary 自动的，主动的forthcoming 即将到来的 meaning of transport 运输工具inland water vessels 内 河船只maritime 海洋的cargo compartment 货仓 charter租fleet 舰队insurance保险 vulnerable 脆弱的collision 碰撞pilferage 偷窃 explosion 爆炸place of historical interest 古迹 accommodations 膳宿供应immigrant 移民 remittance 汇款undertake 承担 climate 环境气氛；风气degenerate 变坏；衰退 deal 交易draw up 制定；拟就respective 各 自的；分别的subsequent 随后的，后来的 interpretation 解释；说明trade terms 贸易术语； 交易条件trading practices 贸易惯例 litigation 诉讼，诉争entail 使人承担；使成为必要 amendment 修正案；修正条款 addition 增加部分revise 修正；修改 unitization 使成为一个单位maritime 海的；海上的 consolidate 统一，合并render使得；使成为 negotiable 可转让的；可流通的vital 极其重要的， 必不可少的whereby 凭借那个，借以premises 生产 场所；经营场所disposal 处理departure 离开，启程， 出发quay 码头substantive 实质性的 set forth 陈述；阐明binding 有约束力的 enforceable可实施的sue起诉trade fairs 商品交易 会trunk call 长途电话enquiry 询盘；询价 quotation 报价voluntarily 主动地，自愿地 indispensable 必不可少的validity period 有效期 offer还盘unbinding 无约束力的invalid 无 效的sales contract 销售合同 sales （purchase）confirmation 售货（购货）确认书 setting up 构成，结构，格式consignment 寄售 contracting parties 缔约方force majeure不可抗力 arbitration 仲裁cotton piece good 棉布 cotton yarns 棉纱hereby 于此hereunder 于下 article number 货号yard 码overleaf 反面 bleached 漂白的counter trade 对销贸易；反对贸易 allegedly被说成；据说phenomenon 现象 terminology 术语generic 总称的 net positions 实际寸头adduce 引证 empirical 以经验为根据的reciprocal 互惠的；互相 hyperinflation极度通货膨胀literally 照字地 disarray 混乱conceptually 概念上地European Payment Union 欧洲支付联盟pre-specify 预先说明 competitive devaluation 竞争性贬值in essence 实质上的intertemporal 不同时的be tied to 固定于 photocopying machine 复印机 intriguing引起兴趣的，有迷惑力的concurrently 同时 发生的 a fraction of一点儿；一部分 verify 一部分sophisticated 经验丰富的bypass 避开；置、、、于不顾expertise 专门知识leverage 杠杆 作用tap 开发；开辟conceal 掩盖；隐藏 perpetuate 使永久存在processing trade 加工贸易 consignment 寄售赁agency 代理domestic 国内的
Unit4 无子女家庭：违背十万年来的繁衍规律 课文翻译： 二十好几的凯茜、韦恩夫妇结婚已有五年之久，没有孩子。上次凯茜娘家有人问：“你们打算什么时候要孩子，组成一个家庭呢?”她答道：“我们已经是个家庭啦!” 凯茜与韦恩属于决定不要孩子的年轻已婚夫妇群体，其人数正在日益增长。最近一项调查显示在过去的五年中，年龄在25至29岁之间妇女不愿生养的百分比几乎翻了一番，在18至24岁的已婚妇女中几乎增至三倍。在这个似乎大胆反抗生物性和社会性的决定后面隐藏着什么原因呢? 或许最能公开坦陈心曲的无子女夫妇是《婴儿陷阱》一书的作者：埃伦，派克，其夫威廉，一位广告总经理兼全国不生养夫妇协会主席。派克夫妇认为他们和协会均无意反对生儿育女，不过是反对不管人们是否愿意和需要孩子就迫使人们传宗接代的社会压力。 “这是一种生活方式的选择，”埃伦说，“我们选择自由和自愿，清净和闲暇。这也是一个朝哪个方向付出努力的问题——在你自己的小家庭之内或在一个大的社团之中。这一代人面临有关地球生命延续的严重问题以及生命质量的问题。我们的孙辈也许将购票去观赏最后一批红杉或排队去获取氧气配给。有人抱怨在回到有五个孩子的家途中被交通堵塞困住好几个小时，但是他们不能将孩子与交通堵塞联系起来。在一个受到人口过剩一系列后果威胁的世界上，我们正在参与一项事业使膝下无子的生活模式为社会所接受并受世人尊重。太多的孩子作为一种文化强制的后果而呱呱坠地，离婚和虐待儿童的相关统计充分揭露了这一结果。” 埃伦的丈夫补充说：“每位朋友、亲戚、同事不停地给你施加压力，劝你要孩子，说什么‘发现你生活中失去的东西’。好多好多人很晚才发现，所谓他们失去的东西其实是他们完全不适合做的事情。” 埃伦还说：“从抱第一个洋娃娃开始，大到欣赏电视肥皂剧，成年后参加鸡尾酒会，无形之中，总有一种压力要你为人父母。但是让我们来看看养育失败的比率吧，或许天下父母应该视为像当医生一样的专门职业。有些人擅长此道，他们应当生养孩子；有些人一窍不通，他们应该认为他们还有其他的选择。” 专业观察家同意这一看法：很多人生养孩子没有正当的理由，有时候则完全没有理由。男人常常稀里糊涂就当上了父亲，根本就没有作出审慎的选择；对许多妇女来说，怀孕能够成为一种方式来逃避不可解决的冲突，譬如，迅速获得名分，或改进自己的不良形象，以及满足童年时代未曾得到的关注和关爱的需要。 我与许多人类行为领域的专家交谈，探讨为什么那么多年轻夫妇决定不要孩子，他们的看法也是众说纷纭。一位家庭治疗专家把不要孩子的决定描写为“对当今世界形势基本的本能反应”，暗示像动物群居本能那样的东西正在起作用，来应对人口过剩、城市拥挤、环境污染与核战争危险。群居本能促使妇女感到繁殖人口有违心愿，并指引她们去寻找在家庭生活之外实现自我价值的新方式。 不止一位精神病医生暗示，凡是不愿生育的人有都自恋癖——觉得自己心甘情愿迫不得已，为照顾别人与受人照顾这个互相对立的内心冲突自圆其说。有位精神病医生说：“这些人不能容忍照顾孩子的想法，他们没有多余的爱分享给孩子，”并补充道，“你们这是对亘古以来人类繁衍生生不息的离经叛道。”他的另一位同事插话说：“情有可原嘛，我们谁不想为我们的欠缺找理由? 且不论他
Unit 1~2 Mercantilism 重商主义 Neomeicantilist 新重商主义者 Trade surplus 贸易顺差 Quota and tariff 配额和关税 Government intervention 政府干预 Zero-sum game 零和博弈 Positive-sum game 常和博弈 The theory of absolute advantage 绝对优势理论 The theory of comparative advantage 比较优势理论 Factor endowments 要素禀赋理论 Product life cycle 产品生命周期（+theory ……理论） Economies of scale 规模经济 Diminishing returns 收益递减规律 Green revolution 绿色革命 Voluntary restriction 自动出口限制 Deposit 佣金 First mover advantage 先占优势 Barrier to entry 进入(市场)壁垒 Porter’s diamond theory 波特的钻石理论 National competitive advantage 国家竞争优势 The department of commerce 商务部 Letter of credit 信用证 Draft /bill of exchange 汇票 bill of lading B/L 提单 Sight draft 即期汇票 Time draft 远期汇票 Banker ‘s acceptance 银行承兑（+bill …汇票） Trade acceptance 商业承兑汇票 Countertrade 对等贸易 Barter 易货贸易 Switch trading 转手贸易 Offset 抵消 Counter purchase 互购贸易 Compensation trade 补偿贸易 Mercantilism suggests that it is in a country’s best interest to maintain a trade surplus -- to export more than it imports（重商主义就是保持贸易顺差以实现一国的最大利益---出口超过进口） Mercantilism advocates government intervention(介入) to achieve a surplus in the balance of trade （重商主义主张政府介入以便实现对外贸易顺差） It views trade as a zero-sum game - one in which a gain by one country results in a loss by another （将贸易看成零和博弈，一个国家收益一个国家受损） Absolute Advantage 绝对优势 Adam Smith argued that a country has an absolute advantage in the production of a product when it is more efficient than any other country in producing it 亚当斯密认为一个国家生产一种商品比其他任何国家效率都高时存在绝对优势 According to Smith, countries should specialize in the production of goods for which they have an absolute advantage and then trade these goods for the goods produced by other countries 按照亚当斯密的说法，各国应该专门生产具有绝对优势的商品，然后用他们交换其他国家生产的商品 The Benefit（好处） of Absolute Advantage and Free Trade The Principle for International Division of Labor–Absolute Advantage 国际分工的原则---绝对优势 The Consequence（结果） of Division of Labor and Free Trade 分工的结果和自由贸易 1. To Production: the Flow of the Factor of Production 生产要素的流动； the Efficiency of Factor Distribution 要素分配效率；the Quantity of Production 产品质量。 2. To Consumer: Welfare from Free Trade自由贸易福利: low price of imports and more consumption 低价格的进口更多的消费 Comparative Advantage比较优势 Ricardo’s theory of comparative advantage suggests that countries should specialize in the production of those goods they produce most efficiently and buy goods that they produce less efficiently from other countries, even if this means buying goods from other countries that they could produce more efficiently at home李嘉图的比较优势理论认为一个国家分工生产最有效率的产品，而从别国购买自己生产效率相对较低的产品，
Lesson 21 WTO and China After 15 long years of hard negotiations, China became a formal member of the World Trade Organization on Dec. 11, 2001. People may wonder whether it pays(值得be worthwhile) for China to devote such a lot of time and efforts for accession to加入the organization. So some knowledge about the WTO as well as the opportunities it provides and the challenges it poses to China is
quite necessary. The origin of the WTO can be traced back to(date back) the early post World War II years. To guard against the threat of trade wars, major trading nations sent their representatives to Havana in 1947 to create an International Trade Organization for the promotion of international trade. That objective was, however, not realized for controversy（争议）over the extensiveness of the powers of the proposed ITO（拟成立的ITO）（这一目标由于对拟成立的ITO
高一英语必修一Unit 4课文翻译 Unit 4 Earthquakes Reading A NIGHT THE EARTH DIDN'T SLEEP 地球的一个不眠之夜 Strange things were happening in the countryside of northeast Hebei.河北省东北部的农村不断有些怪事发生：For three days the water in the village wells rose and fell, rose and fell.三天来，村子里的井水升升降降，起起伏伏。Farmers noticed that the well walls had deep cracks in them. A smelly gas came out of the cracks.农夫注意到，水井的井壁上有 深深的裂缝，裂缝里冒出臭气。In the farmyards, the chickens and even the pigs were too nervous to eat.农家大院里的鸡,甚至猪都紧张得不想 吃食。Mice ran out of the fields looking for places to hide. Fish jumped out of their bowls and ponds.老鼠从田地里跑出来找地方藏身。鱼缸和 池塘里的鱼会往外跳。At about 3:00 am on July 28,1976,some people saw bright lights in the sky.在1976年7月28日凌晨3点左右，有些人看到天上一道道明亮的光。The sound of planes could be heard outside the city of Tangshan even when no planes were in the sky.即使天空没有 飞机，在唐山城外也可以听到飞机声。In the city, the water pipes in some buildings cracked and burst. but the one million people of the city, who thought little of these events, were asleep as usual that night.在市内，有些建筑物里的水管爆裂开来。但是，唐山市的一百万居民几乎
国际商务英语函电答案【篇一：世纪商务英语外贸函电(第二版)课后习题答案】 letter 1.at, of, with, in, for letter 2.from, into, with, of, to p40 https://www.doczj.com/doc/4416430708.html,rming, interesting, dealing, sample, details, quality, prices, applied, items, inquiry unit 3 p55 letter 1.from, for, by, with, on letter 2.with, in, of, in, from p56 2.referring, established, cost, quality, opinion, responsibility, part, satisfied, information, decision unit 4 p71 letter 1. to, of, at, in, by letter 2.with, in, with, for, with p73 2.advertisement, leading, interested, details, dealers, line, market, replying, over, item unit 5 p88 letter 1.for, with, at, by, to letter 2.for, for, by, at, by/under p89 2.inquiring, quotation, receipt, subject, confirmation, discount, catalogue, brochure, separate, appreciate unit 6 p105 letter 1.of, on, in, with, to letter 2.of, in, by, for, at p106 2.offer, regret, price, sold, level, difference, transaction, counter-offer, samples, acceptance unit 7 p122 letter 1.to, of, of, in, for,