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International Business English
Lesson 1
International Business/国际商务
Business Knowledge:
The major differences between international business and domestic business A. Differences in legal systems 法律体系 B. Differences in currencies 货币 C. Differences in cultural background
D. Different in natural and economic conditions The major types of international business A. Trade
a. Commodity trade 商品贸易 b. Service trade B. Investment
a. Foreign direct investment b. Portfolio investment 证券投资 C. Other types
a. c.
Licensing and franchising 许可经营和特许经营 Turnkey project and BOT
b. Management contract and contract manufacturing 管理合同和承包生产 Trade Terms:
1. Customs area关税区: 2. Conversion货币兑换
3. Visible trade有形贸易: The form of commodity trade, i.e. exporting and
importing goods produced or manufactured in one country for consumption or resale in another. (including cash transaction-by means of money and market, and counter trade)
4. Invisible trade无形贸易: The form of transportation, communication, banking,
insurance, consulting, information etc. is called invisible trade or service
industries.
5. FDI外国直接投资: Foreign direct investments. Returns through controlling the
enterprises or assets invested in a host country. / P.256. One country acquires assets in a foreign country for the purpose of controlling and managing them. 6. Portfolio investment证券投资: Purchases of foreign financial assets for a
purpose other than controlling. 7. Stocks股票: Capital stocks or bonds.
8. Bonds债券: The papers issued by a government or a firm with promise to pay
back the money lent or invested together with interest. 9. Maturity（票据等）到期 10. Certificate of deposit大额存单
11. Licensing许可经营: In licensing, a firm leases the right to use its intellectual
property to a firm in another country. They choose licensing because they do not have to make cash payments to stat business, and can simply receive income in the form of royalty（许可费）.
12. Franchising特许经营: Under franchising, franchisee is allowed to operate in the
name of another, franchiser who provides the former with trademarks, brand names, logos and operating techniques for royalty. 13. Trade Mark商标 14. Patent专利
15. Royalty专利（许可）使用费，版税 16. Copyright版权 17. Licenser许可方 18. Licensee被许可方
19. Franchiser特许方: A firm who provides the franchisee with trademarks, brand
names, logos and operating techniques for royalty.
20. Franchisee被特许方: A firm is allowed to operate in the name of another. 21. Management contract管理合同: 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 volume. 22. Value chain价值链
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23. Turnkey project“交钥匙”工程: For an international turnkey project, a firm signs a
contract with a foreign purchaser and undertakes all the designing, contracting and facility equipping before handing it over to the latter upon completion. 24. BOT建设、经营和移交: Build, Operate, Transfer 25. Expertise专门知识 26. Bonus红利、奖金、津贴 27. Royalty 许可使用费
28. International investment国际投资: Supplying capital by residents of one country
to another.
29. Contract manufacturing承包生产
30. GATT关贸总协定: General Agreement on Tariffs and Trade
31. International business国际商务: Transaction between parties from different
countries. Sometimes business across the borders of different customs areas of the same country is also regarded as import and export. 32. Intellectual property知识产权 33. Oil deposit: 石油储备 = oil reserves
34. the reserves of natural resources 自然资源储备
35. Personal advancement个人的晋升，个人素质的提高以及个人事业的进步等。 Answer the following questions:
1. What does international business refer to? Please tell the difference between
international business and domestic business.
A: International business refers to transaction between parties from different countries. Sometimes business across the borders of different customs areas of the same country is also regarded as import and export.
Some major differences between international business and domestic business is following:
(1) Differences in legal systems (2) Differences in currencies
(3) Differences in cultural background
(4) Different in natural and economic conditions
2. 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?
A: Visible trade is the form of commodity trade. The form of transportation, communication, banking, insurance, consulting, information etc. is called invisible trade or service industries. The later is become more and more important.
3. Can you cite some examples to illustrate cultural differences in international
business?
A: Cultural differences including language, customs, traditions, religion, value, behavior etc.
4. Please elaborate（详细说明） on the two categories （种类）of international
investment. What is their major difference?
A: FDI (Foreign direct investment) is made for returns through controlling the enterprises or assets invested in in a host country.
/ 外国直接投资：通过控制其它投资在他国的企业和资产获得回报。
Portfolio investment refers to purchases of foreign financial assets for a purpose other than controlling. Such financial assets may be stocks, bonds or certificates of deposit.
/ 证券投资：不以控制为目的而购买外国的金融资产，如：股票、债券和定期存款单。 5. What is licensing? Why do firms sometimes choose it as a means of entering
a foreign market?
A: In licensing, a firm leases the right to use its intellectual property to a firm in another country. / 国际许可即：一家公司允许国外的公司使用它的知识产权。 They choose licensing because they do not have to make cash payments to stat business, and can simply receive income in the form of royalty. 可直接收取知识产权费，不必现金开办新业务
Besides, they can benefit from locational advantages of foreign operation without any obligations in ownership or management. 享有当地经营优势，而在所有权和经营上不承担义务
The use of licensing is particularly encouraged by high customs duty and non-tariff barriers on the part of the host country. 当东道国的关税高或非关税壁垒多时，国际许可经营更受欢迎。
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6. What is franchising? How is it different from licensing?
A: Under franchising, franchisee is allowed to operate in the name of another, franchiser who provides the former with trademarks, brand names, logos and operating techniques for royalty.
/ 在特许经营情况下，特许使用方以特许授予方的名义开展业务，后者向前者提供商标、品牌、公司经营技巧等而获取特许使用费。
In comparison with the relation between the licenser and the licensee, the franchiser has more control over and provides more support for the franchisee.
7. What is a management contract? Under what conditions is it most
applicable?
A: Under a management contract, one company offers managerial or other specialized services （管理或其它专门服务）to another within a particular period for a flat payment or a percentage of the relevant business volume（相关业务总价值的百分比）. When a government forbids foreign ownership in certain industries it considers to be of strategic importance but lacks the expertise for operation, management contracts maybe a practical choice enabling a foreign company to operate in the industry without owning the assets.
8. What is an international turnkey project? In what way is its variant BOT
different from it?
A: For an international turnkey project, a firm signs a contract with a foreign purchaser （外国买方）and undertakes all the designing, contracting and facility equipping（装配设备） before handing it over to the latter upon completion. For a BOT project, a firm operates a facility for a period of time after building it up before finally transferring it to a foreign company. Making profit from operating the project for a period is the major difference between BOT and the common turnkey project
Translate the following sentences into English:
1.国际贸易一般指不同国家的当事人进行的交易，它涉及到许多因素，因而比国内贸易要复杂
得多。
International business refers to transaction between parties form different countries. It involves more factors and thus is more complicated the domestic business.
2.随着经济一体化进程的发展，很少人和公司能完全独立于国际商务之外而存在。因此，在此方面具有一定的知识是十分必要的，这既有益于企业的发展又有益于个人的进步。
With the development of economic globalization, few people or companies can completely stay away from international business. Therefore, some knowledge in this respect is necessary both for the benefit of enterprises and personal advancement.
3.其他参与国际贸易的形式有管理合同、承包生产和“交钥匙”工程。
Other forms for participating in international business are management contract, contract manufacturing and turnkey project.
4.国际贸易最初以商品贸易的形式出现，即在一国生产或制造商品而出口或进口到另一国进行消费或转售。
International business first took the form of commodity trade, i.e. exporting and importing goods produced or manufactured in one country for consumption or resale in another.
5.除了国际贸易和投资，国际许可和特许经营有时也是进入国外市场的一种方式。
Besides trade and investment, international licensing and franchising are sometimes taken as a means of entering a foreign market.
Lesson 2
Income Level and the World Market / 收入水平和世界市场
Business Knowledge: (1) GNP and GDP
(2) Per capita income and per capita GDP
(3) High-income, middle income and low-income countries
A. Standards for classification B. Representative countries
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自考-国际商务英语(复习资料)
