國際貿(mào)易專業(yè)英語第一篇：國際貿(mào)易專業(yè)英語1.ThetheoryofcomparativeadvantageAlthoughSmith’sworkwasinstrumentalinthedevelopmentofeconomictheoriesabouttradeandproduction,itdidnotansweraquestionlikeifacountrydidnotpossessabsoluteadvantageinanyproduct,couldit(orwouldit)trade?盡管大衛(wèi)李嘉圖的著作在貿(mào)易和生產(chǎn)相關(guān)的經(jīng)濟(jì)理論上有指導(dǎo)意義，但他沒有回答類似于一個(gè)國家若沒有絕對優(yōu)勢能否貿(mào)易這樣的問題。DavidRicardo(1772-1823),inhis1819workentitledOnthePrinciplesofPoliticalEconomyandTaxation,soughttotakethebasisideassetdownbySmithafewstepsfurther.Ricardonotedthatevenifacountrypossessedabsoluteadvantageintheproductionoftwoproducts,itstillmustberelativelymoreefficientthantheothercountryintheproductionofonecommoditythantheother.RicardotermedthistheComparativeAdvantage.大衛(wèi).李嘉圖在1819年的作品《政治經(jīng)濟(jì)學(xué)及賦稅原理》，試圖在斯密觀點(diǎn)基礎(chǔ)上進(jìn)行更深一步挖掘，李嘉圖表示即使一個(gè)國家在生產(chǎn)兩種產(chǎn)品時(shí)有絕對優(yōu)勢，但相對另一個(gè)國家生產(chǎn)同類產(chǎn)品它依然有相對較高效率的產(chǎn)品，李嘉圖把這稱之為比較優(yōu)勢。2.Definitiona.Accordingtothetheoryofcomparativeadvantage,itmakessenseforacountrytospecializeintheproductionofthosegoodsitproducesmostefficientlyandtobuythegoodsfromothercountriesthatitproduceslessefficiently,evenifthismeansbuyinggoodsfromothercountriesthatitcouldproducemoreefficientlyitself.根據(jù)比較優(yōu)勢理論，一個(gè)國家專注于生產(chǎn)那些有較高效率的產(chǎn)品何從其他國家購買本國生產(chǎn)效率相對較低的產(chǎn)品，即使這意味著從國外購買更高效率的產(chǎn)變得合情合理。b.Acountryhasacomparativeadvantageinproducingagoodiftheopportunitycostofproducingthatgoodintermsofothergoodsislowerinthatcountrythanitisinothercountries.就產(chǎn)品而言，如果一個(gè)國家生產(chǎn)這種產(chǎn)品相比其他國家有更低機(jī)會(huì)成本就稱之為這個(gè)國家有比較優(yōu)勢。3.Chiefpointsofviewa.Eachcountrywouldthenpossesscomparativeadvantageintheproductionofoneofthetwoproducts,thelessefficientnationshouldspecializeinandexportthegoodinwhichitiscomparativelylessinefficient(whereitsabsolutedisadvantageisleast).每個(gè)國家在生產(chǎn)一兩種產(chǎn)品上有比較優(yōu)勢，一個(gè)生產(chǎn)效率相對較低的國家應(yīng)專業(yè)化出口相對來說具有優(yōu)勢的產(chǎn)品。b.Themoreefficientnationshouldspecializeinandexportthatgoodinwhichitiscomparativelymoreefficient(whereitsabsoluteadvantageisgreatest).Andbothcountrieswouldthenbenefitbyspecializingcompletelyinoneproductandtradingfortheother.一個(gè)相對生產(chǎn)效率較高的國家應(yīng)專注看相對生產(chǎn)效率更高（絕對優(yōu)勢最大的）產(chǎn)品，這樣兩類國家都能從完全專業(yè)化的生產(chǎn)和貿(mào)易中獲利。c.Absoluteproductiveefficiencywasthusnotacrucialfactorgoverningthebasisforinternationaltrade,accordingtoRicardo.TheRicardianmodelorprincipleofcomparativeadvantageistodaythemostfamousandinfluentialprincipleofeconomics.根據(jù)李嘉圖的觀點(diǎn)，絕對生產(chǎn)效率并不是控制國際貿(mào)易基礎(chǔ)一個(gè)關(guān)鍵因素。李嘉圖模型或相對比較優(yōu)勢的原理是今天經(jīng)濟(jì)理論中最著名的也是最有影響力的經(jīng)濟(jì)理論。4.ComparisonbetweenthetwoTheoriesa.Aftercomparisonwe’llfindRicardo’stheoryofcomparativeadvantageismoreadvancedthanSmith’stheoryofabsoluteadvantage.在比較后我們發(fā)現(xiàn)李嘉圖的比較優(yōu)勢理論比斯密的絕對優(yōu)勢理論更先進(jìn)。b.AccordingtoSmith’sview,theproductexportedbyacountrymustbegoodswhichtheexportingcountryhasabsoluteadvantagetoproduceandthecostofproducingitmustbeabsolutelylowerthanthesamegoodofanothercountry.根據(jù)斯密的觀點(diǎn)，一個(gè)國家出口的產(chǎn)品一定是出口該國生產(chǎn)商有絕對優(yōu)勢的相比另一個(gè)國家絕對生產(chǎn)成本更低的產(chǎn)品。c.ButDavidRicardotookAdamSmith’stheoryofabsoluteadvantageonestepfurther.Inhisopinionnotnecessarilyeverycountryhastoproduceallsortsofgoods.Whatanationshoulddoistoconcentrateitseffortsandresourcesonproducingthosegoodswhichcangeneratemoreadvantagesandbringaboutlessdisadvantages.但是李嘉圖是在斯密絕對優(yōu)勢理論的基礎(chǔ)上進(jìn)一步延伸的。在他看來，每個(gè)國家沒必要生產(chǎn)所有類型的產(chǎn)品，一個(gè)國家需要做的只是集中精力和資源生產(chǎn)那些有更少劣勢更多優(yōu)勢的產(chǎn)品。d.Undersuchconditionsinternationaltradewouldresultininternationaldivisionoflaborandspecializationbeneficialtoallcountries.Inaddition,Ricardoparticularlystressedlaborproductivityandarguedthatdifferencesinlaborproductivitybetweennationsunderliethenotionofcomparativeadvantage.在這些條件下，國際貿(mào)易會(huì)產(chǎn)生國際勞動(dòng)、專業(yè)分工，對所有國家都有利，除此之外，李嘉圖特別強(qiáng)調(diào)，不同國家勞動(dòng)分工、生產(chǎn)差異構(gòu)成的比較優(yōu)勢。e.Despitethedifferencesbetweenthetwotheoriestheyhavesomethingincommon.BothSmithandRicardoemphasizedthesupplysideofthemarketandthefactthattheimmediatebasisfortradestemmedfromcostdifferences.ActuallyRicardo’stheoryofcomparativeadvantagewasdevelopedonthebasisofSmith’stheoryofabsoluteadvantage.盡管這兩個(gè)理論有差異但也存在共性。李嘉圖和斯密都強(qiáng)調(diào)了市場的供給方，貿(mào)易基礎(chǔ)根源于生產(chǎn)成本的差異，確切的說，李嘉圖的相對比較優(yōu)勢理論是在史密斯的絕對優(yōu)勢理論的基礎(chǔ)上發(fā)展起來的。5.AquestiontodiscussAprofessorispreparedtowriteabook.Heisfasterbothinwritingandcollectingdatathanothers.Supposethatheneed1yeartowriteabook,4monthstocollectdata.Andthestudentneed2yearstowriteabook,6monthstocollectdata.Buttheprofessorpaidtohisstudentsforcollectingdataforhiminsteadofcollectingdatahimself.Explainthereason.一個(gè)教授準(zhǔn)備寫一本書，他在寫書和收集書籍上都比別人快，假設(shè)他需要一年去寫一本書，四個(gè)月收集數(shù)據(jù)，學(xué)生需要兩年寫一本書，六個(gè)月收集數(shù)據(jù)，但是教授支付費(fèi)用給他的學(xué)生請學(xué)生代替他自己收集數(shù)據(jù)，請解釋理由。相對學(xué)生來說，教授在寫書有比較優(yōu)勢；相對教授來說，學(xué)生在搜集數(shù)據(jù)上更有優(yōu)勢。第二篇：國際貿(mào)易專業(yè)英語整理可能出翻譯(1)FOB:FreeonBoard(…namedportofshipment)裝運(yùn)港船上交貨（……指定裝運(yùn)港）“FreeonBoard”meansthatthesellerfulfilshisobligationtodeliverwhenthegoodshavepassedovertheship’srailatthenamedportofshipment.（2）CFR:CostandFreight(…namedportofdestination)成本加運(yùn)費(fèi)（……指定目的港）“CostandFreight”meansthatthesellerisresponsibleforcharteringalinerandloadingthegoodsonthelineratthestipulatedtimeinthecontract.（3）CIF:CostInsuranceandFreight(…namedportofdestination)成本、保險(xiǎn)加運(yùn)費(fèi)（……指定目的港）“CostInsuranceandFreight”meansthatthesellerhastheobligationstoprocuremarineinsuranceagainsttherisksoflossesof,ordamagetothegoodsduringthecarriage.1.ThetheoryofcomparativeadvantageAlthoughSmith’sworkwasinstrumentalinthedevelopmentofeconomictheoriesabouttradeandproduction,itdidnotansweraquestionlikeifacountrydidnotpossessabsoluteadvantageinanyproduct,couldit(orwouldit)trade?盡管斯密的著作在貿(mào)易和生產(chǎn)相關(guān)的經(jīng)濟(jì)理論上有指導(dǎo)意義，但他沒有回答類似于一個(gè)國家若沒有絕對優(yōu)勢能否貿(mào)易這樣的問題。DavidRicardo(1772-1823),inhis1819workentitledOnthePrinciplesofPoliticalEconomyandTaxation,soughttotakethebasisideassetdownbySmithafewstepsfurther.Ricardonotedthatevenifacountrypossessedabsoluteadvantageintheproductionoftwoproducts,itstillmustberelativelymoreefficientthantheothercountryintheproductionofonecommoditythantheother.RicardotermedthistheComparativeAdvantage.大衛(wèi).李嘉圖在1819年的作品《政治經(jīng)濟(jì)學(xué)及賦稅原理》，試圖在斯密觀點(diǎn)基礎(chǔ)上進(jìn)行更深一步挖掘，李嘉圖表示即使一個(gè)國家在生產(chǎn)兩種產(chǎn)品時(shí)有絕對優(yōu)勢，但相對另一個(gè)國家生產(chǎn)同類產(chǎn)品它依然有相對較高效率的產(chǎn)品，李嘉圖把這稱之為比較優(yōu)勢。2.Definitiona.Accordingtothetheoryofcomparativeadvantage,itmakessenseforacountrytospecializeintheproductionofthosegoodsitproducesmostefficientlyandtobuythegoodsfromothercountriesthatitproduceslessefficiently,evenifthismeansbuyinggoodsfromothercountriesthatitcouldproducemoreefficientlyitself.根據(jù)比較優(yōu)勢理論，一個(gè)國家專注于生產(chǎn)那些有較高效率的產(chǎn)品何從其他國家購買本國生產(chǎn)效率相對較低的產(chǎn)品，即使這意味著從國外購買更高效率的產(chǎn)變得合情合理。b.Acountryhasacomparativeadvantageinproducingagoodiftheopportunitycostofproducingthatgoodintermsofothergoodsislowerinthatcountrythanitisinothercountries.就產(chǎn)品而言，如果一個(gè)國家生產(chǎn)這種產(chǎn)品相比其他國家有更低機(jī)會(huì)成本就稱之為這個(gè)國家有比較優(yōu)勢。3.Chiefpointsofviewa.Eachcountrywouldthenpossesscomparativeadvantageintheproductionofoneofthetwoproducts,thelessefficientnationshouldspecializeinandexportthegoodinwhichitiscomparativelylessinefficient(whereitsabsolutedisadvantageisleast).每個(gè)國家在生產(chǎn)一兩種產(chǎn)品上有比較優(yōu)勢，一個(gè)生產(chǎn)效率相對較低的國家應(yīng)專業(yè)化出口相對來說具有優(yōu)勢的產(chǎn)品。b.Themoreefficientnationshouldspecializeinandexportthatgoodinwhichitiscomparativelymoreefficient(whereitsabsoluteadvantageisgreatest).Andbothcountrieswouldthenbenefitbyspecializingcompletelyinoneproductandtradingfortheother.一個(gè)相對生產(chǎn)效率較高的國家應(yīng)專注看相對生產(chǎn)效率更高（絕對優(yōu)勢最大的）產(chǎn)品，這樣兩類國家都能從完全專業(yè)化的生產(chǎn)和貿(mào)易中獲利。c.Absoluteproductiveefficiencywasthusnotacrucialfactorgoverningthebasisforinternationaltrade,accordingtoRicardo.TheRicardianmodelorprincipleofcomparativeadvantageistodaythemostfamousandinfluentialprincipleofeconomics.根據(jù)李嘉圖的觀點(diǎn)，絕對生產(chǎn)效率并不是控制國際貿(mào)易基礎(chǔ)一個(gè)關(guān)鍵因素。李嘉圖模型或相對比較優(yōu)勢的原理是今天經(jīng)濟(jì)理論中最著名的也是最有影響力的經(jīng)濟(jì)理論。4.ComparisonbetweenthetwoTheoriesa.Aftercomparisonwe’llfindRicardo’stheoryofcomparativeadvantageismoreadvancedthanSmith’stheoryofabsoluteadvantage.在比較后我們發(fā)現(xiàn)李嘉圖的比較優(yōu)勢理論比斯密的絕對優(yōu)勢理論更先進(jìn)。b.AccordingtoSmithsview,theproductexportedbyacountrymustbegoodswhichtheexportingcountryhasabsoluteadvantagetoproduceandthecostofproducingitmustbeabsolutelylowerthanthesamegoodofanothercountry.根據(jù)斯密的觀點(diǎn)，一個(gè)國家出口的產(chǎn)品一定是出口該國生產(chǎn)商有絕對優(yōu)勢的相比另一個(gè)國家絕對生產(chǎn)成本更低的產(chǎn)品。c.ButDavidRicardotookAdamSmith’stheoryofabsoluteadvantageonestepfurther.Inhisopinionnotnecessarilyeverycountryhastoproduceallsortsofgoods.Whatanationshoulddoistoconcentrateitseffortsandresourcesonproducingthosegoodswhichcangeneratemoreadvantagesandbringaboutlessdisadvantages.但是李嘉圖是在斯密絕對優(yōu)勢理論的基礎(chǔ)上進(jìn)一步延伸的。在他看來，每個(gè)國家沒必要生產(chǎn)所有類型的產(chǎn)品，一個(gè)國家需要做的只是集中精力和資源生產(chǎn)那些有更少劣勢更多優(yōu)勢的產(chǎn)品。d.Undersuchconditionsinternationaltradewouldresultininternationaldivisionoflaborandspecializationbeneficialtoallcountries.Inaddition,Ricardoparticularlystressedlaborproductivityandarguedthatdifferencesinlaborproductivitybetweennationsunderliethenotionofcomparativeadvantage.在這些條件下，國際貿(mào)易會(huì)產(chǎn)生國際勞動(dòng)、專業(yè)分工，對所有國家都有利，除此之外，李嘉圖特別強(qiáng)調(diào)，不同國家勞動(dòng)分工、生產(chǎn)差異構(gòu)成的比較優(yōu)勢。e.Despitethedifferencesbetweenthetwotheoriestheyhavesomethingincommon.BothSmithandRicardoemphasizedthesupplysideofthemarketandthefactthattheimmediatebasisfortradestemmedfromcostdifferences.ActuallyRicardo’stheoryofcomparativeadvantagewasdevelopedonthebasisofSmith’stheoryofabsoluteadvantage.盡管這兩個(gè)理論有差異但也存在共性。李嘉圖和斯密都強(qiáng)調(diào)了市場的供給方，貿(mào)易基礎(chǔ)根源于生產(chǎn)成本的差異，確切的說，李嘉圖的相對比較優(yōu)勢理論是在史密斯的絕對優(yōu)勢理論的基礎(chǔ)上發(fā)展起來的。5.AquestiontodiscussAprofessorispreparedtowriteabook.Heisfasterbothinwritingandcollectingdatathanothers.Supposethatheneed1yeartowriteabook,4monthstocollectdata.Andthestudentneed2yearstowriteabook,6monthstocollectdata.Buttheprofessorpaidtohisstudentsforcollectingdataforhiminsteadofcollectingdatahimself.Explainthereason.一個(gè)教授準(zhǔn)備寫一本書，他在寫書和收集書籍上都比別人快，假設(shè)他需要一年去寫一本書，四個(gè)月收集數(shù)據(jù)，學(xué)生需要兩年寫一本書，六個(gè)月收集數(shù)據(jù)，但是教授支付費(fèi)用給他的學(xué)生請學(xué)生代替他自己收集數(shù)據(jù)，請解釋理由。相對學(xué)生來說，教授在寫書有比較優(yōu)勢；相對教授來說，學(xué)生在搜集數(shù)據(jù)上更有優(yōu)勢。在寫書有比較優(yōu)勢；相對教授來說，學(xué)生在搜集數(shù)據(jù)上更有優(yōu)勢?？赡艹龊喆痤}1.Whatisthefoundationoftheworldtrade?（1）Intoday’scomplexeconomicworld,neitherindividualsnornationsareselfsufficient.（2）Nationshaveutilizeddifferenteconomicresources;peoplehavedevelopeddifferentskills.（3）Asaresultofthistradeandactivity,internationalfinanceandbankinghaveevolved.2.Whatarethemajorviewsofthetheoryofabsoluteadvantage?Nationscouldconcentratetheirproductionongoodstheycouldmakemostcheaply,withalltheconsequentbenefitsofthedivisionoflabor.Smithusedsomesuppositionstoexplainhisprincipleofabsoluteadvantage.itwasfarbetterforacountrytoimportgoodsthatcouldbeproducedoverseasmoreefficientlythantomanufacturethemitself.Countrieswouldimportgoodsintheproductionofwhichtheyhadanabsolutedisadvantageagainsttheexportingcountry.Theywouldexportgoodsintheproductionofwhichtheyhadanabsoluteadvantageovertheimportingcountry.InSmith’sopinioneachnationhadsomesortofabsoluteadvantageintheproductionofcertaingoods.Ifitcouldspecializeintheproductionofthemandthenexchangethegoodswitheachother,everycountrywouldreceiveabenefit.3.MakeacomparisonbetweentheH-OtheoryandRicardo’stheoryofcomparativeadvantage.（1）MainsimilarityLikeRicardo’stheory,H-Otheoryalsoarguesthatfreetradeisbeneficialtotradingnations.（2）differenceThebiggestdifferencebetweenRicardo’stradetheoryandH-Otheoryisthat,whenexplainingthebasisfortradeRicardoplacesprimaryrelianceonfactorproductivitywhiletheH-Otheoryshedsmorelightonotherimportanttradeissuessuchastheinfluenceofresourcesuppliesorfactorendowmentsuppliesoninternationalspecializationandtheinfluenceoftradeonthedistributionofincome.Toputitinasimpleway,unlikeRicardiantradetheorywhichtakesfactorproductivitydifferenceasthemainbasisfortrade,theH-Otheory,inexplainingthemainreasonfortrade,delegatesprimaryimportancetothefactorendowmentsnationsenjoy.4.Whatisthepurposeofthetradeterms?Tradetermsarekeyelementsofinternationalcontractsofsale,sincetheytellthepartieswhattodowithrespectto:Deliveryterms；Priceterms；Deliveryobligations(1)Namingtheexactpointatwhichtheownershipofthemerchandiseistransferredfromthesellertothebuyer.(2)Definetheresponsibilitiesandexpensesofboththesellerandthebuyer.(3)Theuseofthetradetermsgreatlysimplifiesthecontractnegotiations,andthussavestimeandcost.5.Whatarethereasonsforthepopularityoftheinternationalcompetitivebidding?(a)Whenpublicfundsisinvolved,apublicagency,throughinternationalnotification,isboundtoofferanequalopportunitytoallpotentialbidderswhodirectlyorindirectlycontributetopublicfunds.(b)Thiscompetitivenessofbiddingresultsinthemostefficientuseofpublicfunds.(c)Theopenbiddingprocedureservesasasafeguardagainstwaste,corruptionandfavoritism.6.Whatarethereasonsoftheforeigntrade?（1）Nonationhasallofthecommoditiesthatitneeds.Rawmaterialsarescatteredaroundtheworld.Countriesthatdonothavetheseresourceswithintheirownboundariesmustbuyformcountriesthatexportthem.（2）Second,foreigntradealsooccursbecauseacountryoftendoesnothaveenoughofparticularitemtomeetitsneeds.（3）Third,onenationcansellitemsatalowercostthanothercountries.---ComparativeAdvantage:Onecountryshouldbuyandimportwhatitneedsfromthosecountriesthathaveacomparativeadvantageinthedesireditems.7.Whatarethemajorviewsofthetheoryofcomparativeadvantage?(1)Eachcountrywouldthenpossesscomparativeadvantageintheproductionofoneofthetwoproducts,thelessefficientnationshouldspecializeinandexportthegoodinwhichitiscomparativelylessinefficient(whereitsabsolutedisadvantageisleast).（2）Themoreefficientnationshouldspecializeinandexportthatgoodinwhichitiscomparativelymoreefficient(whereitsabsoluteadvantageisgreatest).Andbothcountrieswouldthenbenefitbyspecializingcompletelyinoneproductandtradingfortheother.（3）Absoluteproductiveefficiencywasthusnotacrucialfactorgoverningthebasisforinternationaltrade,accordingtoRicardo.TheRicardianmodelorprincipleofcomparativeadvantageistodaythemostfamousandinfluentialprincipleofeconomics.8.IllustratethemeaningoftheHeckscher-Ohlintheory.AlthoughsometimesthistheoryisalsoreferredtoastheHeckscher-Ohlinmodelorthefactorendowmentmodel,moreoftenthannotitiscalledtheHeckscher-OhlintheoryorsimplytheH-Otheory.H-Otheoryisoneofthemostinfluentialtheoriesinmoderninternationaleconomicsaccordingtowhichinternationaltradeislargelydrivenbydifferencesincountries’resources(land,laborandcapital).9.Whatistheconceptoftradeterms?（1）Tradeterms,alsocalledpricetermsordeliveryterms,areanimportantcomponentofaunitpriceininternationaltrade,standingforspecificobligationsofthebuyerandseller.（2）Tradetermsareoftenshorthandexpressionsorexpressedbythree-letterabbreviation.10.Shipmentsareexaminedtodeterminewhat?（1）Shipmentshouldbemadeaccordingtothecontactterms.（2）Usually,theexportershallfillintheShippingNotetobooktheshippingspaceorship.（3）AfterreceivingtheShippingOrder(S/O)fromthecarrier,theexportermaystarttoensuretheloadingofthegoods.Theexportershouldsupervisetheloadingprocess.（4）Afterthegoodsbeingloadedonboardthevessel,theCaptainortheMatewillissueareceipt,i.etheMate’sReceipt.（5）TheshippershallexchangetheMate’sReceiptfortheBillofLadingfromtheshippingAgencymakingpaymentoffreight.（6）AftertheloadingofthegoodsandthereceiptoftheB/L,theexportershouldsendaShippingAdvicetotheimporterforthereceiptofthegoods.第三篇：國際貿(mào)易專業(yè)英語復(fù)習(xí)國際貿(mào)易專業(yè)英語期末考試（開卷）一、名詞英譯漢：1’*10=10，（來自課件）二、句子英譯漢：3’*10=30，（來自課件，注意：句子翻譯要符合中文的語法習(xí)慣）三、簡答題：5’*4=20XX來自課件）四、判斷對錯(cuò)：1’*10=10，（來自課件）五、閱讀理解：15’*2=30，（關(guān)注中國商務(wù)部英文網(wǎng)，考查的是短語，句子翻譯，文章的理解，要關(guān)注最近一段時(shí)間的新聞，對于像Policies,Topics,Services,上海自由貿(mào)易區(qū)的等一系列的內(nèi)容的了解）第四篇：王帥國際貿(mào)易專業(yè)英語Therearethreekindsofpaymentmethods.Eachpaymentmethodmayhaveitsadvantagesanddisadvantages.Doyouthinkthatpaymentbyaletterofcreditalwaysthefirstchoiceininternationaltrade?Why?Ininternationaltradesettlement,thepaymentofinternationalmoneyusuallyusesanon-cashsettlementaccordingtotheamountofcash.Itoftenusesfinancialinstrumentsinsteadofcashasameansofcirculationandmeansofpaymentforsettlement.Therearethreepaymentmethodsininternationaltrade:remittance,collectionandlettersofcredit.Asawrittendocument,letterofcreditopenedbybanksandbanksarecommittedtomakeapayment.Asthebank'sfinancialstrength,theyusuallyhaveahighercredibility.Intheletterofcreditpayment,aslongasthebeneficiarytofulfillitsobligationsundertheletterofcreditormeettheconditions,theissuingbankguaranteespaymentandbeartheresponsibilityofthefirstpayment.Thus,intheformofletterofcredit,itisthebankthatprovidescredit.Ithasfourfunctionsforexporters.(1)Provideasecurityguaranteeforexporterstoreceivepayments;(2)Enableexporterstoobtaintheforeignexchangeprotection;(3)Increasethestabilityoftheexporttrade;(4)Providesaconvenientfinancingforexporters.Ithasthreefunctionsforimporters.(1)Itishelpfulfortheimportstoreceivethegoodsunderthecontractontime;(2)Toprovideacertainamountoftransactionsecurity;(3)Providesaconvenientfinancingforimporters.Inaddition,forthebanks,theissuingbankonlybeartheresponsibilitytoensurepayment,itprovidesonlybankcredit,notmoney.Moreover,theissuingbanksalsorequiretheapplicanttoprovidetheissuingguaranteesandtopaythedepositinordertospreadrisk.Byletterofcreditbusiness,theissuingbankexpandsitsbusinessvolumeandincreasesitseconomicbenefitswithouttakingmuchriskinthecase.Intheformofletterofcredit,bankprovidescredit;ithasmanybenefitsforimports,exportsandtheissuingbanks.Sotheletterofcredithasbeenwidelyusedininternationaltrade,especiallyinChina,internationaltradearebasicallyusingthispaymentmethodHowever,therearealsosomedrawbacksfortheletterofcredit.Forexample:(1)Documentationrequirementsarerelativelyhigh,asdocumentsandlettersofcreditdonotmatch,pronetonon-paymentofthesettlement;(2)Costisrelativelyhigh,affectingexporters’profits;(3)Specialnationallettersofcreditrisk.Forexample,lettersofcreditinBangladesh,theywereveryirregularintheoperation,whichtakesmanyrisksininternationaltradesettlement.(4)Bankrisk.Ultimately,banksarealsoenterprise;theyhavetheirowncreditstoo.Especiallyintheforeign,thebankentrythresholdisverylow,relativelylargedifferencesinbankcredit,andsomesmallbanks’reputationisnotverygood.Insummary,Letterofcreditpaymentininternationaltrade,isitalwaysthefirstchoice?Ithinkitisnotcomprehensive.Insomecases,useremittanceandcollectionisbetter.Remittance:referstothepayerinitiativeremittedtothepayeebybanksorothermeansofpayment.ItincludesMailTransfer(M/T),TelegraphicTransfer(T/T)andRemittancebyBanker’sDemanddraft(D/D).Forremittance,itsadvantagesare:simplicityandlowcost.Modeintheremittancewhetherthesellercanrecoverthemoneyonagreedtimedependsentirelyonthebuyer'screditsituation.Becauseofthispaymentisacommercialcreditwithahighrisk,itisusuallyappliedtoasmallpayment,depositmoney,transportfeesandcommissions,etc.Ifusedproperly,thetransactionwillbenefitbothsides.Ininternationalpaymentsanothercommonwaytosettlepaymentsisbycollectionwherebytheexporterfirstshipscargoestogetne