Lesson 2
II
1.In recent years, as the country’s vigorous economic development has
facilitated its foreign trade, its total export and import value between 193 and 2003 increased by 20%, as compared with only 7.5% between 1982 and 1992.
2.The greatly improved communications and transportation resulting
from technological progress have speeded up the movements of merchandise, personnel and information between different countries and lowered operating costs, thus bringing about the rapid growth of international business.
3.Today fewer restrictions on the cross-border movements of
merchandise and services imposed by governments of all countries enable these countries’ residents to have access to goods and services at lower prices and make it possible for domestic enterprises to raise efficiency because of foreign competition.
4.In order to support and facilitate international business, companies and
governments have developed relevant services such as the establishment of bank credit agreements, the conclusion of clearing arrangements and the enactment of the international postal agreement, thus ensuring the successful handling and growth of international business.
5.Under the pressure of increased foreign competition, in order to
maintain competitiveness and seek survival and development, companies have to extend their operations to international markets, respond to foreign sales opportunities and vigorously increase their international business.
Lesson 3
I.
1. Large increase in industrial and agricultural production in many
countries and regions
2. Lead to industrial countries’rapidly rising demand for food and raw
materials
3. The import volume of industrial products that has increased 15 times
4. A drastically/sharply increased demand for agricultural exports from
developing countries
5. A decrease in the demand for natural raw materials such as cotton and
natural rubber.
6. The development of the production of synthetic substitutes and an
increase in their output.
7. Contribute to the industrial development and economic growth of
developing countries
8. The important beneficial effects that international trade has on the
economic development of all countries
9. be conducive to the development of less developed countries’
manufacturing and production of manufactured goods.
10 stimulate and facilitate the international flow of capital between
developed and developing nations
11. The vehicle for the transmission of new technology and new
managerial skill
12. The less developed countries that have reaped major benefits from
international trade.
13. The relationship between international trade and long-run economic
development
14. Absorb advanced technology from developed nations at a faster rate. II.
1.The emergence and development of international trade has promoted
the normal operation and constant expansion of all countries’ process of reproduction, raise their levels of productive forces, contributed to the internationalization of production and capital and brought about the economic development in other fields.
2.Focusing on the effects of exports on employment and income,
Keynes and his followers hold that a trade surplus can expand means of payment, lower interest rates and spur a price increase and investment, thus contributing to the alleviation of a country’s domestic crisis and an increase in employment.
3.Some other economists believe that the emergence and development
of international trade can expand commodity markets, promote technological progress and an improvement in the process of production, spur an increase in output and contribute to a change in the structure of investment, thus leading to the development of the entire national economy.
4.The development of foreign trade achieved by developing countries
brings about an increase in foreign exchange earnings and the introduction/ importation of advanced/ up-to-date foreign technology, which plays an important role in making good these countries’shortage of capital and promoting their technological progress.
5.In the past years, along with absorbing foreign capital, China has
spared no effort to develop its foreign trade, imported large quantities of precision machinery and equipment and sophisticated technology, exported various kinds of industrial and agricultural products, thus greatly contributing to economic development and the achievement of socialist modernization.
Lesson 4 II
1．Nontariff trade barriers，which refer to the protectionist measures characterized by quantitative import restrictions，are used by developed countries and some developing countries to interfere with and impede the free flow of merchandise and services be．
tween nations．
2．Since the mid．1970s，as a result of the outbreak of the global economic crises，accompanied by the intensification of contention for international markets, the developed countries have been forced to resort to nontariff trade barriers designed to restrict imports, in an attempt to overcome their difficulties．
3．Like tariff trade barriers，nontariff trade barriers have the effects of restricting imports and bringing about price increases in the domestic market of an importing country，thus imposing a heavy burden on the people of Western developed countries.
4．In recent years, some trade policies and regulations carried out by the United States have discriminated against China and imposed severe restrictions on some of its exports to the United States．
5．It is likely that in the future the United States and other Western countries will still impose restrictions 011 the exports of China’s textiles and other labor—intensive products，to which China will strongly(decidedly)0biect．
Lesson 5
II
1.In order to move efficiently the goods to importing country, the export
firm must perform three essential functions involving a series of activities in the export transaction.
《新编剑桥商务英语（初级）》 （第二版） 教案 教材：《新编剑桥商务英语(初级)》（第二版） Lan Wood, Cartin Lloyd-Jones, Anne Williams编著, 经济科学出版社， 2002年3月
《新编剑桥商务英语(初级)》课程单元教学设计一、教案头
二教学设计
第一次课设计梗概（2课时） （1）告知学生本课程的总体安排、教材的处理，上课的方式、明确学习目标——掌握商务公司运作,通过BEC初级考试.为了提高学生的积极性并使他们了解在平时的学习中应提高哪些能力，告诉学生现在用人单位对员工的要求，第一要有一定的专业素质，二是情商要高,即懂得如何交流,如何为人处事,所以，在教学中,主要采取活动教学,通过各种各样的活动,提高学生的自信心和交流能力。并给学生分享往届学生的就业经历和心得. （2）考核方式 第一次上课时主要告知学生每次课，每个活动环节都很重要，课程终结考核主要来自两个方面，一是整组的表现,即各个公司在各种课堂活动上的表现；二是个人的主动表现和提问表现.只要平时刻苦努力,积极主动，自然而然就能取得优秀的成绩。（3）进入正题 本次课的项目主要是介绍公司的职务分类,职能范畴，名片。 Listening 1: Listen to the tape to finish the exercise and discuss the business card.
●Discussion: Different positions and duties in a company. ●Listen 2: Find the different duties in a company. ●Game: Divide students into different groups to play a game in order to review the present simple. ●Reading: Know more about the different duties in a company. ●Vocabulary: Remember all the new words in this unit and finish the exercise in the book. ●Speaking: 1. Design a business card of everyone. 2. Set up a company, four students in one group. 详案 Unit 1 Part One Introduction and Job description I.Aims and Objectives: At the end of this session, the students should be able to: a.Know the general information about Cambridge BEC Preliminary, the useful study strategies for this course and the content of Pass Cambridge BEC Preliminary. b.Talk about jobs, practise listening for specific information and review the present simple. II.Session Outline 1.Greetings 2.Duties: 1) Warmer (books closed): T asks Ss the definition of business cards and how important business cards are to them and the people they are familiar 2) Listening 1: a. T introduces the Chamber of Commerce and gives more information if requested( it is an organization which operates on a local basis; it helps business by promoting the area; it offers business opportunities for its members through a variety of services and events) b. T focus Ss’ attention on the business cards and clarifies job vocabulary where necessary. Ss listen to six new Chamber of Commerce members speaking and number the business cards in the order in which the people speak. c. Check th e Ss’ answers and listen to the tape again to make sure everyone understands it.
★绝密·考试前严禁任何人翻阅 全国外经贸从业人员考试 国际商务英语等级考试（初级） 试题册 考试时间：2014年5月31日 09:30-11:30 ※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※ 考生姓名： 准考证号： 考点（考区）： 注意事项 一、考生将姓名、身份证号、考试项目、考点（考区）、准考证号填涂在试题册及答题卡（答 题纸）相应位置。 二、考生在规定考试时间内做完试题册上的试题，并将答案填涂在答题卡（答题纸）相应位 置，写在试题册上的答案一律无效。全部答题时间为120分钟。 三、考生在答题卡上作答时，切忌超出答题区域。如因超出区域作答导致答题卡失效，由考 生个人负责。客观题按题号顺序进行填涂，主观题在每题左上角写清题号按顺序作答。 凡因题号不清导致考试成绩有误，由考生个人负责。 四、考生不得将试题册、答题卡（答题纸）带出考场。考试结束，监考员收卷后考生方可离 开考场。 五、考生注意对自己的答案保密。若被抄袭，一经发现，后果自负。
★请将答案写在答题卡上，答案写在试卷上无效。 一、客观题（本大题有60小题，每小题1分，共60分） [1-20] Listening: 20%（听力，20分） Section A Directions: Listen to the following dialogue and choose the correct word or words to fill each gap from A,B,C or D. This section accounts for 5 points. Each question will be read twice. Mike: It would be nice to see you again, Mary. Are you free on Sunday evening? Mary: I’ m sorry, I’m not. I’ve got to visit my aunt 1 . Mike: Oh, that’s a pity. Monday’s difficult for me. What about Tuesday evening? Mart: Tuesday’s bad for me as well. I’ve got to go to a meeting. Mike: Wednesday then? Mary: No, Wednesday’s out for me, I’m afraid. I’ve got to 2 and do some work. I really must. Mike: Oh, that’s a shame. Well, I can’t 3 Thursday. What about Friday? Mary: I’m 4 sorry. I’ve got to go out for dinner on Friday. Mike: Have you got to? Can’t you get out of it? Mary: I’m afraid not. I’ve simply got to go. Mike: Well, it looks as if we’ll have to wait till next week then. Mary: Yes, I’m sorry, Mike. Look, I must go now. I have to meet Lisa in ten minutes. Ring me next week 5 . Mike: Fine. Try and keep an evening free for me. 1．A. in the hospital B. in hospital C. in hotel D. in hostel 2．A. stay in B. staying C. stay D. sleep 3．A. make that B. make this C. make D. make it 4．A. outright B. awfully C. really D. totally 5．A. some time B. sometimes C. sometime D. some times Section B Directions: Listen to the following passage and choose the correct word or words to fill each gap from A,B,C or D. This section accounts for 5 points. Each question will be read twice. For international investors, the decision to invest in a foreign country, whether to establish or 6 a plant or a sales network, or to purchase stocks or bonds, is a difficult one. Before they make the decision to invest abroad, international investors will have to make sure that the
Unit 4 Advertising Part I Business Vocabulary Directions: There are 20 incomplete sentences in this part. For each sentence there are four choices marked A, B, C and D. Choose the ONE that best completes the sentence. Then mark the corresponding letter on the Answer Sheet with a single line through the center. This part totals 20 points, one point for each sentence. C1 Outdoor advertising is one of the fastest growing _______________ in the market. A markets B sections C segments D sectors D2 The world of outdoor advertising billboards, transport and ‘street furniture’ is ______ about $18 billion a year, just 6% of all the worl d’s spending on advertising. A worthwhile B worthy C valued D worth C3 The soaring costs of TV are ______________ clients to consider alternatives. A making B driving C prompting D letting A4 BMW ran a ‘teasers’ campaign in Britain on bus shelters. A exclusively B largely C greatly D inclusively C5 Placing an ad on a bus shelter for two weeks ________________ at about ￡90. A works on B works away C works out D calculates D6 We are facing a ________________ with our market share. What are we going to do about it? A promotion B sale C order D crisis A7 Focus, a large advertising agency based in Paris, has a reputation for creating imaginative and ____________ campaigns. A effective B efficient C effect D efficacious C8 Focus now needs to ________________ potential clients that it still
国际商务英语综合教程辅导用书 基本信息 出版社对外经济贸易大学出版社 出版时间20xx/10/01 ISBN9787566304759 亚马逊销量排名第88位 - 图书英语与其他外语大学英语课文辅导 字数10万字 页数139页 简介 《新世界商务英语系列教材:(第2版)》分13章，从国际商务简介、商务组织、经营方式、经济学入门、市场经济、国际贸易实务简介、国际贸易术语及定价原则、营销、营销组合与产品促销、国际支付与结算、外汇汇率到国际商务谈判策略，每章都分门别类介绍该章的专业知识。 目录 第一章国际商务简介(A BriefIntroduction to International Business) 1.什么是商务(What Is。Business) 2.什么是国际商务(What Is International Business)
3.国际商务活动范围(The Scope ofInternationaI：BusinessActivities) 4.国际风险(International Risk) 5.国际商法(International Business Law) 6.商业信用(mercial Credit) 7.国际商务管理(Management of International Business) 8.世界贸易组织简介(A BriefIntroduction to the WTO) 第二章商务组织(Business Organizations) 1.概述(Introduction) 2.独资企业(Sole Proprietorship) 3.一般合伙企业(General Partnership) 4.有限合伙企业(Limited Partnership) 5.合股公司(Joint Stock pany) 6.公司(Corporations) 7.跨国公司(Transnational Corporations) 第三章经营方式(Ways ofBusiness) 1.概述(Introduction) 2.批发(Wholesaling) 3.零售(Retailing) 4.特许经营(Franchising) 5.代理(Agency) 6.电子商务(E-merce)
广东外语外贸大学公开学院辅导资料 国际商务英语试卷（一） 课程代码：05844 I. Translate the following words and expressions from English into Chinese （10%） 1.International business 2.GDP 3.Free trade area 4.Multinational corporation 5.Specialization 6.specific duty 7.roll on roll off 8.EDI 9.article number 10.auction Ⅱ. Translate the following words and expressions from Chinese into English （10%） 11.返倾销 12.最惠国条款 13.贴现 14.充分就业 15.保兑信用证 16.零库存 17.代位，取代 18.保护主义 19.免除条款（豁免条款） 20.证券交易所 Ⅲ.Match the words and expressions on the left with the explanations on the right （10%） 21.contracting party a. amount above what is estimated as necessary 22.gilts b. a business concern owned or controlled in whole or in part by another concern 23.cyclical c. recurring in cycles 24.affiliate d. stocks issued by government 25.legal action e. an action taken against some one in accordance with the law. 26.margin f. a country or firm that signs a legal agreement 27.pooling g. a trace of land including its buildings 28.verified data h. a set of international rules for the interpretation of
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
《新编剑桥商务英语（初级）》 （第三版） 教案 教材：《新编剑桥商务英语(初级)》（第三版） Rolf Cook and Mara Pedretti with Helen Stephenson编著, 经济科学出版社， 2008年10月
《新编剑桥商务英语(初级)》课程单元教学设计一、教案头
二、教学设计
第一次课设计梗概（2课时） （1）告知学生本课程的总体安排、教材的处理，上课的方式、明确学习目标。 两个目标：通过听、说、读、写及分组讨论，案例表演和课堂演示,培养学生在商务情景下的工作习惯和交流意识；尽量通过BEC初级考试。 两个要求：为了提高学生的积极性并使他们了解在平时的学习中应提高哪些能力，告诉学生现在用人单位对员工的要求，第一要有一定的专业素质，二是情商要高,即懂得如何交流,如何为人处事。 教学方式：在教学中,主要采取活动教学,通过各种各样的活动,提高学生的自信心和交流能力。将学生分为六组，每组四人，一个组即为一个公司，每个组员都有一个职位，第一周确定每个组员的职位。第三、四周确定公司的名称、职能和业务范畴，并在全班演示。（2）考核方式 平时表现：两个方面，一是整组的表现,即各个公司在各种课堂活动上的表现；二是个人的主动表现和提问表现.只要平时刻苦努力,积极主动。 期末卷面：一整套BEC初级的模拟题。 口试：口试的形式仿照BEC初级口试形式并加上案例表演。 （3）进入正题 本次课的项目主要是介绍公司的职务分类,职能范畴，撰写个人简介及设计名片。 ●Reading: Read and get to know the format of BEC preliminary exam. ●Reading and Discussion: Read the materials about Training and Workshops in order to know the job title and responsibilities.
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，
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/d712483374.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,
Unit 1 Company Profile 1.Translate the following Chinese terms into English. candidate patent industry personnel registered trademark core competency domain name intended market emerging market headquarter multinational corporation Chief Executive Officer stakeholder 2.Translate the following English terms into Chinese. 股本，股金总额 以人为本的解决方案 精于心简于形 对客户的深入了解 工业革命 回收利用 3.Translation: 宝洁公司始创于1837年，是世界上最大的日用消费品公司之一。2007财政年度，公司全年销售额达682亿美元。在《财富》杂志评选出的全球500家最大企业中，排名第74位。 宝洁公司在全球80多个国家设有工厂或分公司，所经营的300多个品牌的产品畅销160多个国家和地区，其中包括美容护理、居家护理、吉列产品等。每天，在世界各地，宝洁公司的产品与全球消费者发生着三十亿次亲密接触。宝洁大中华业务区包括1988年成立的中国大陆分公司、1987成立的香港分公司和1985年成立的台湾分公司。 一九八八年，宝洁公司在广州成立了在中国的第一家合资企业－广州宝洁有限公司，从此开始了其中国业务发展的历程。宝洁总部位于广州,目前在广州、北京、上海、成都、天津、东莞及南平等地设有多家分公司及工厂，并在北京设立技术中心。 二十年来，宝洁取得了飞速的发展，主要表现在：
New international business English Lesson One Face to Face 1.1 first impressions (1st class) Note: situation analysis 1. your role, you are a visitor, you are a stranger for the people greeting you, you meet them for the first time. 2. the place, now you are in an office , a business situation and this office is an unfamiliar office 3. these people greeting you, the visitor, are not all the receptionist, some are people who happen to be in the office when you arrive. A. 1. self- introduction under business situation (you’re not a student any more, you’re an export clerk, secretary, or sales manager and so on). 5 Sts 2. let’s look at these pictures, these pictures show us different expressions of different people. Could you answer 2 questions of PPT just according to their expressions on their faces? 1) Which person seems the most welcoming? The person of picture 3 and picture 10. Because they smile so pleasantly, sincerely, and friendly 2) Which person seems the most unfriendly? The person of picture 5 and 9. Because the person of picture 5 seemingly would not like to see you, moreover looks like so indifferent, impatient. And the one of picture 9 looks so off-hand, and unhelpful. From this, we can know expression is vital of the first impression, without saying any word, you can give a good or bad first impression on people. So nice smile and friendly eye contact are the most important things if you want to give a good first impression on other people. B. Then l et’s listen to the recording, the order of the recording is the same as the order of the picture, from the one to ten. Discuss the questions of PPT. 1. The man in extract 5 says things so quickly and shortly, and the tone of his voice make him seemingly be rude. He is brusque/abrupt. The woman in extract 9 sounds off-hand, indifferent or causal. And language: YES? WHO? Informal language. All makes her particularly impolite 2. the language they use. We had better use the formal language. The tone of voice, we’d better use the tone which makes our voice sound friendly, hospitable. If you are greeted by the woman in extract 9, you’re sure be given a bad first impression by the woman, so as to give a bad impression on the company’s image. Giving a good impression reflects your company’s image(no company wants its customers to think it’s unpleasant) If you start off a relationship in a friendly, pleasant way, it’s likely to go on in the same way, which will be to every one’s advantage. C. I hear they’re calling for thunder storms all weekend
一、 What does international business refer to? Please tell the difference between international business and domestic business. 1. International business refers to transactions between parties from diffirent countries. There are four major diffrences between international business and domestic business: 1)differences in legal system 2)differences in currencies 3)differences in cutural background 4)differences in natural and economic conditions Please explain the differences between visible trade and invisible trade. Which is becoming more and more important and accounts for an increasing proportion in international trade? https://www.doczj.com/doc/d712483374.html,modity trade, i.e exporting and importing goods produced or manufactured in one country for consumption or resale in another. This kind of trade is also referred to visible trade. Invisible trade is in the form of transportation, communication, banking, insurance, consulting, information etc. Invisible trade is becoming more and more important and accounts for an increasing proportion in international trade. Can you cite some examples to illustrate cultural differences in international business? 3.Cultural differences including language, customs, traditions, religion, value, behavior etc. Please elaborate on the two categoreis of international investment. What is their major difference? 4.Foreign direct investments or FDI for short is made for returns through controlling the enterprises or assets invested in in a host country. Portfolio investment refers to purchases of foreign financial assets for a purpose other than controlling. What is licensing? Why do firms sometimes choose it as means of entering a foreign market? 5.In licensing, a firm leases the right to use its intellectual property to a firm in another country. Firms choose licensing because they do not want to make cash payments to start business, and can simply receive income in the form of royalty. Besides, they can benefit from locational advanteges of foreign operation without any obligations in ownership or management. What is franchising? How is it different from licensing? 6.Under franchising, a fim, called the franchisee, is allowed to operate in the name of another, called the franchiser who provides the former with trademarks, brand name, logos, and operating techniques for royalty. In comparision with the relation between the licenser and the licensee, the franchiser has more control over and provides more support for the franchisee. What is a management contract? Under what conditions is it most applicable? 7.Under a management contract, one company offers managerial or other specialized services to another within a particular period for a flat payment or a percentage of the relevant business volum. When a government forbids foreign ownership in certain industries it considers to be of strategic importance but lacks the expertise for operation, management contracts may be a practical choice enabling a foreign company to operate in the industry without owning the assets.. What is an international turnkey project? In what way is its variant BOT different from it?