ContentsPart 1 OverviewChapter 1 Introduction to International Trade………………………………………… 2Chapter 2 Basic Theory of International Trade………………………………………… 62.1 International Speization………………………………………………………… 62.2 General Concept of Absolute Advantage and Comparative Advantage…………… 7Chapter 3 Barriers to International Trade………………………………………………… 113.1 Sociocultural Barriers……………………………………………………………… 113.2 Economic Barriers………………………………………………………………… 133.3 Trade Barriers……………………………………………………………………… 15Chapter 4 E-commerce…………………………………………………………………… 194.1 Why to E-commerce………………………………………………………………… 194.2 How to E-commerce………………………………………………………………… 204.3 How E-commerce Is Changing the Role of Intermediaries………………………… 214.4 Challenges Faced by E-commerce Business…………………………………… 21Part 2 Terms of International TradeChapter 5 International Trade Terms…………………………………………………… 265.1 Generalization……………………………………………………………………… 265.2 A Guide to Incoterms 2020………………………………………………………… 30Chapter 6 Terms of Commodity…………………………………………………………… 576.1 Name of Commodity……………………………………………………………… 576.2 Quality of Commodity……………………………………………………………… 576.3 Quantity of Commodity…………………………………………………………… 606.4 Packing of Commodity……………………………………………………………… 616.5 Commodity Inspection and Customs Formalities………………………………… 65Chapter 7 International Cargo Transport………………………………………………… 717.1 Modes of Transport………………………………………………………………… 717.2 Clause of Shipment………………………………………………………………… 787.3 Major Shipping Documents………………………………………………………… 80Chapter 8 International Cargo Transportation Insurance……………………………… 858.1 Parties to the Insurance…………………………………………………………… 858.2 Marine Insurance…………………………………………………………………… 868.3 Insurance of Land, Air and Postal Transportation………………………………… 928.4 Fundamental Principles of Cargo Insurance……………………………………… 93Chapter 9 Terms of Price………………………………………………………………… 969.1 Price Elements……………………………………………………………………… 979.2 Pricing Methods…………………………………………………………………… 999.3 Pricing Strategies………………………………………………………………… 1009.4 Money of Account and Avoidance of Foreign Exchange Risk…………………… 1019.5 Use of Commission and Discount………………………………………………… 1019.6 Clause of Price…………………………………………………………………… 102Chapter 10 International Payments……………………………………………………… 10410.1 Amount of Payment……………………………………………………………… 10510.2 Payment Currency……………………………………………………………… 10510.3 Instrument………………………………………………………………………… 10510.4 Payment Methods………………………………………………………………… 10910.5 International Factoring…………………………………………………………… 121Chapter 11 Claims, Force Majeure and Arbitration…………………………………… 12711.1 Claims…………………………………………………………………………… 12711.2 Force Majeure…………………………………………………………………… 12811.3 Arbitration……………………………………………………………………… 129Part 3 International Trade ProcedureChapter 12 Launching a Profitable Transaction……………………………………… 13312.1 Market Research………………………………………………………………… 13312.2 Sourcing Contacts……………………………………………………………… 13312.3 Tips for a Successful Negotiation……………………………………………… 134Chapter 13 Exporting and Importing Procedures……………………………………… 13713.1 Export Procedures……………………………………………………………… 13713.2 Import Procedures……………………………………………………………… 139Chapter 14 Business Negotiation and Establishment of Contract…………………… 14314.1 Enquiry…………………………………………………………………………… 14314.2 Offer……………………………………………………………………………… 14414.3 Counter-offer…………………………………………………………………… 14614.4 Acceptance……………………………………………………………………… 14714.5 Conclusion of a Contract………………………………………………………… 148Chapter 15 Export & Import Documentation…………………………………………… 15215.1 Government Control Documents………………………………………………… 15315.2 Commer Documents………………………………………………………… 15815.3 Finance Documents……………………………………………………………… 16015.4 Transportation Documents……………………………………………………… 16415.5 Insurance Documents…………………………………………………………… 169Part 4 Trade FormsChapter 16 Agency, Distribution and Consignment…………………………………… 17416.1 Agency…………………………………………………………………………… 17416.2 Distribution……………………………………………………………………… 17616.3 Consignment……………………………………………………………………… 176Chapter 17 Tenders……………………………………………………………………… 17917.1 Invitation for Bids……………………………………………………………… 18017.2 Submission of Tenders…………………………………………………………… 18217.3 Bid Opening……………………………………………………………………… 18317.4 Evaluation of Tender…………………………………………………………… 18317.5 Tender Discussions and Tender Decision……………………………………… 18317.6 Establishment of Contract……………………………………………………… 18417.7 Execution of Contract…………………………………………………………… 185Chapter 18 Futures Trading……………………………………………………………… 18818.1 Introduction to Futures Trading………………………………………………… 18818.2 Futures Market…………………………………………………………………… 18818.3 Futures Contract………………………………………………………………… 19118.4 Hedging………………………………………………………………………… 191Chapter 19 Counter Trade……………………………………………………………… 19419.1 Barter…………………………………………………………………………… 19519.2 Counterpurchase………………………………………………………………… 19519.3 Compensation Trade…………………………………………………………… 19519.4 Switch Trade…………………………………………………………………… 19619.5 Offset…………………………………………………………………………… 197Part 5 WTO & Globalization of TradeChapter 20 WTO: Objectives, Functions and Basic Principles…………………… 20120.1 WTO: an Overview……………………………………………………………… 20120.2 WTO: Objectives, Functions and Basic Principles……………………………… 203Chapter 21 WTO: Structure…………………………………………………………… 20821.1 WTO Organization Structure…………………………………………………… 20821.2 Ministerial Conference and China’s Accession: Doha, 2001…………………… 21121.3 The WTO Secretariat…………………………………………………………… 211Chapter 22 Overview of WTO Agreements…………………………………………… 21422.1 Some Interpretations…………………………………………………………… 21422.2 A Navigational Guide to the WTO Agreements………………………………… 215Chapter 23 Globalization of Trade and Future of Global Trade……………………… 21923.1 Globalization of Trade…………………………………………………………… 21923.2 Future of Global Trade……………………………………………………… 221Appendix Glossary of International Trade Terms with English-ChineseInterpretations………………………………………………………………… 227Bibliography………………………………………………………………………………… 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