《GCT综合英语第4单元课文翻译》由会员分享，可在线阅读，更多相关《GCT综合英语第4单元课文翻译（9页珍藏版）》请在金锄头文库上搜索。
1、仅做参考好好学习，天天向上Unit 4International TradeMost countries realize the advantages of world trade. Countries have developed their economies, increased production of goods, and met market demands through increased world trade. The interdependence among trading nations has provided increased business opportu
2、nities.International trade develops because certain countries are able to produce some goods more efficiently than other countries. They exchange goods to satisfy their needs and wants. Efficient production may be the result of several factors. A certain climate in a particular country may allow tha
3、t country to grow agricultural products in abundance. For instance, the climates in the United States and Canada are suitable for production of large amounts of wheat. Natural resources such as oil or coal are abundant in other countries. Countries with a large pool of unskilled laborers are able to
4、 produce products which are labor intensive more cheaply than countries with highly paid, skilled labor forces. Another factor is geographical location. Countries like Singapore and Panama engage in banking and trading because they are located on world trade routes.The Scottish economist, Adam Smith
5、, theorized that free market countries produce whatever they can most efficiently grow or manufacture, or what is of the greatest advantage to them. In other words, if they can make more money growing cotton than making cloth, they grow cotton and export it. Then they import cloth from a country tha
6、t makes cloth more efficiently than it grows cotton. In an uncontrolled free market trade situation, there is international specialization which results in the most efficient production of goods. Therefore, competition guarantees that countries import products which are most efficiently manufactured
7、 abroad and export products which are most efficiently produced domestically. Price is determined by the supply side of the market. Smith s theory was a theory of absolute advantage. The English economist, David Ricardo, refined Smiths theory to one of comparative advantage . He theorized that an ex
8、porting country does not have to be the most efficient producer of the product; it only has to be more efficient than the country which imports the product. Mutually beneficial trade arises when one country has a comparative advantage. There are several reasons why governments try to control the imp
9、orts and exports of a country. One reason is that a country enjoys an advantage if it exports more than it imports. Wealth accrues to the exporting country. Some countries have special programs to encourage exports. They may be programs that provide marketing information, establish trade missions, s
10、ubsidize exports, and provide tax benefits or incentives. Government subsidies allow companies to sell products cheaply. Sometimes these subsidized companies export their products and sell them cheaply overseas. This practice is known as dumping. Dumping is selling on a foreign market at a price bel
11、ow the cost of production.On the other hand, governments impose taxes and quotas to restrict imports of certain products. For example, to protect Japanese farmers, Japan limits the amount of produce that can be imported. Sometimes governments want to protect a domestic industry because that industry
12、 provides employment for the population. Not only the industries, but also the labor unions encourage the government to enact protectionist controls.Protectionist measures are in the form of duties which eliminate the comparative advantage or quotas which restrict the import of the product altogethe
13、r. There are two forms of import tariffs: specific and ad valorem. A specific tariff is a certain amount of tax for each unit of the product, for example $ 500 for each automobile. An ad valorem tariff is based on the value of the product, for example 5% of its value.In order to import and export pr
14、oducts, there needs to be a system of inter-national monetary exchange. While a few products like oil are always priced in dollars, most products must be paid for with the legal tender of the producing country. International trade involves the exchange of one currency for another. Most currencies ar
15、e now exchanged on a floating rate basis. There are no official exchange rates. The rates fluctuate according to market forces. If large amounts of a countrys currency are being exchanged, the exchange rate may vary greatly because of demand, and therefore, the price of a currency is either rising o
16、r falling. Sometimes these great fluctuations in value threaten economic stability: then central banks change market forces by purchasing a foreign currency to support its price and maintain stability.The amount of money that goes in and out of a country is referred to as the balance of payments. If a country is exporting more than it imports, it is receiving foreign currency and has a balance of trade surplus. If it is importing more than it exports, it is sending money out of the coun
