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The term export means sending of goods or services produced in one country to another country. The seller of such goods and services is referred to as an exporter; the foreign buyer is referred to as an importer.[1]


Export of goods often requires involvement of customs authorities. An export's counterpart is an import.



Exporting

Many manufacturing firms began their global expansion as exporters and only later switched to another mode for serving a foreign market.[2][clarification needed]


Process

Methods of exporting a product or good or information include mail, hand delivery, air shipping, shipping by vessel, uploading to an internet site, or downloading from an internet site. Exports also include distribution of information sent as email, an email attachment, fax or in a telephone conversation.[citation needed]


Barriers

Trade barriers are government laws, regulations, policy, or practices that either protect domestic products from foreign competition or artificially stimulate exports of particular domestic products. While restrictive business practices sometimes have a similar effect, they are not usually regarded as trade barriers. The most common foreign trade barriers are government-imposed measures and policies that restrict, prevent, or impede the international exchange of goods and services.[3]


Strategic

International agreements limit trade in and the transfer of, certain types of goods and information e.g. goods associated with weapons of mass destruction, advanced telecommunications, arms and torture, and also some art and archaeological artefacts. For example:


Nuclear Suppliers Group limits trade in nuclear weapons and associated goods (45 countries participate).

The Australia Group limits trade in chemical & biological weapons and associated goods (39 countries).

Missile Technology Control Regime limits trade in the means of delivering weapons of mass destruction (35 countries)

The Wassenaar Arrangement limits trade in conventional arms and technological developments (40 countries).

Tariffs

A tariff is a tax placed on a specific good or set of goods exported from or imported to a country, creating an economic barrier to trade.[4]

Usually the tactic is used when a country's domestic output of the good is falling and imports from foreign competitors are rising, particularly if the country has strategic reasons to retain a domestic production capability.

Some failing industries receive a protection with an effect similar to subsidies; tariffs reduce the industry's incentives to produce goods quicker, cheaper, and more efficiently. The third reason for a tariff involves addressing the issue of dumping. Dumping involves a country producing highly excessive amounts of goods and dumping the goods on another country at prices that are "too low", for example, pricing the good lower in the export market than in the domestic market of the country of origin. In dumping the producer sells the product at a price that returns no profit, or even amounts to a loss.[5] The purpose and expected outcome of a tariff is to encourage spending on domestic goods and services rather than imports.


Tariffs can create tension between countries. Examples include the United States steel tariff of 2002 and when China placed a 14% tariff on imported auto parts. Such tariffs usually lead to a complaint with the World Trade Organization (WTO).[6] If that fails, the country may put a tariff of its own against the other nation in retaliation, and to increase pressure to remove the tariff.



Vessel at Altenwerder Container Terminal (Hamburg)

Overview

Advantages of exporting

Exporting has two distinct advantages. First, it avoids the often substantial cost of establishing manufacturing operations in the host country.[7]

Second, exporting may help a company achieve experience curve effects and location economies.[7]

Ownership advantages are the firm's specific assets, international experience, and the ability to develop either low-cost or differentiated products within the contacts of its value chain. The locational advantages of a particular market are a combination of market potential and investment risk. Internationalization advantages are the benefits of retaining a core competence within the company and threading it though the value chain rather than to license, outsource, or sell it.


In relation to the eclectic paradigm, companies that have low levels of ownership advantages do not enter foreign markets. If the company and its products are equipped with ownership advantage and internalization advantage, they enter through low-risk modes such as exporting. Exporting requires significantly lower level of investment than other modes of international expansion, such as FDI. The lower risk of export typically results in a lower rate of return on sales than possible though other modes of international business. In other words, the usual return on export sales may not be tremendous, but neither is the risk. Exporting allows managers to exercise operation control but does not provide them the option to exercise as much marketing control. An exporter usually resides far from the end consumer and often enlists various intermediaries to manage marketing activities. After two straight months of contraction, exports from India rose by 11.64% at $25.83 billion in July 2013 against $23.14 billion in the same month of the previous year.[8]


Disadvantages of exporting

Exporting has a number of drawbacks:


Exporting from the firm's home base may not be appropriate if lower-cost locations for manufacturing the product can be found abroad. It may be preferable to manufacture where conditions are most favorable to value creation, and to export to the rest of the world from that location.[2]

A second drawback to exporting, is that high transport cost can make exporting uneconomical, particularly for bulk products. One way to fix this, is to manufacture bulk products regionally.[2]

Another drawback, is that high tariff barriers can make exporting uneconomical and very risky.[2]

For small and medium enterprises (SMEs) with fewer than 250 employees, selling goods and services to foreign markets can be more difficult than serving the domestic market. The lack of knowledge of trade regulations, cultural differences, different languages and foreign-exchange situations, as well as the strain of resources and staff, interact like a block for exporting. Indeed, there are some SMEs which are exporting, but nearly two-thirds of them sell to only one foreign market.[9]


Export motivations and perceptions

Motivational factors are "all those factors triggering the decision of the firm to initiate and develop export activities". In the literature, export barriers are divided into four large categories: motivational, informational, operational/resource-based, and knowledge.[10] In addition, export motivators are divided into five dimensions; reactive, marketing,export, technological, external.[11] Research shows that exporters are more favourable to motivators than non-exporters.[12]


See also

iconBusiness and economics portal

International relations portal

Globalization portal

Comparative advantage

Commodity currency

Commodity Classification Automated Tracking System

Demand vacuum

e-commerce

Embargo

Export-oriented industrialization

Export control

Export performance

Export promotion

Export strategy

Export subsidy

Export Yellow Pages

Free trade

Free trade agreement

Free trade area

Import

Infant industry argument

International trade

List of countries by exports

Protectionism

Sales

Trade barrier

Tariff

Non-tariff barriers to trade

References

 Joshi, Rakesh Mohan, (2005) International Marketing, Oxford University Press, New Delhi and New York. ISBN 0-19-567123-6

 Washington, Charles W. L. Hill, University of (2015). International business : competing in the global marketplace (Tenth edition. ed.). p. 454. ISBN 978-0-07-811277-5.

 "Targeted Trade Barriers". cftech.com. Archived from the original on 5 December 2017. Retrieved 27 July 2015.

 Staff, Investopedia (24 November 2003). "Tariff". Investopedia. Archived from the original on 5 December 2017. Retrieved 7 May 2017.

 Mike Mofatt. "The Economic Effect of Tariffs". Archived from the original on 6 September 2015. Retrieved 27 July 2015.

 US/China Trade Tensions Archived 16 May 2011 at the Wayback Machine., Darren Gersh. Retrieved 21 May 2006.

 Hill, Charles W.L. (2015). International Business: competing in the global marketplace (15th ed.). New York: McGraw Hill. p. 454. ISBN 978-0078112775.

 "Exports surge to 21-month high". Business Standard India. 13 August 2013. Archived from the original on 15 August 2013.

 Daniels, J., Radebaugh, L., Sullivan, D. (2007). International Business: environment and operations, 11th edition. Prentice Hall. ISBN 0-13-186942-6

 Seringhaus, F. R (1990). Government export promotion: A global perspective. https://www.amazon.com/Government-Export-Promotion-Perspective-International/dp/0415000645: Routledge. p. 1. ISBN 0415000645.

 Stouraitis, Vassilios; Harun, Mior Harris Mior; Kyritsis, Markos (5 January 2017). "Motivators of SME initial export choice and the European Union regional effect in manufacturing". International Journal of Entrepreneurial Behavior & Research. 23 (1): 35–55. doi:10.1108/ijebr-05-2015-0120. ISSN 1355-2554.

 Leonidou, Leonidas C.; Katsikeas, Constantine S.; Palihawadana, Dayananda; Spyropoulou, Stavroula (6 November 2007). "An analytical review of the factors stimulating smaller firms to export: Implications for policy‐makers". International Marketing Review. 24 (6): 735–770. doi:10.1108/02651330710832685. ISSN 0265-1335.

Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. A system or network that allows trade is called a market.


An early form of trade, barter, saw the direct exchange of goods and services for other goods and services.[1][need quotation to verify] Barter involves trading things without the use of money.[1] Later, one bartering party started to involve precious metals, which gained symbolic as well as practical importance.[citation needed] Modern traders generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade involving more than two traders is called multilateral trade.


Trade exists due to specialization and the division of labor, a predominant form of economic activity in which individuals and groups concentrate on a small aspect of production, but use their output in trades for other products and needs.[2][dead link] Trade exists between regions because different regions may have a comparative advantage (perceived or real) in the production of some trade-able commodity—including production of natural resources scarce or limited elsewhere, or because different regions' sizes may encourage mass production.[3] In such circumstances, trade at market prices between locations can benefit both locations.


Retail trade consists of the sale of goods or merchandise from a very fixed location[4] (such as a department store, boutique or kiosk), online or by mail, in small or individual lots for direct consumption or use by the purchaser.[5] Wholesale trade is defined[by whom?] as traffic in goods that are sold as merchandise to retailers, or to industrial, commercial, institutional, or other professional business users, or to other wholesalers and related subordinated services.



Etymology

Commerce is derived from the Latin commercium, from cum "together" and merx, "merchandise."[6]


Trade from Middle English trade ("path, course of conduct"), introduced into English by Hanseatic merchants, from Middle Low German trade ("track, course"), from Old Saxon trada ("spoor, track"), from Proto-Germanic *tradō ("track, way"), and cognate with Old English tredan ("to tread").


History

See also: Economic history of the world and Timeline of international trade

Prehistory

Trade originated with human communication in prehistoric times. Trading was the main facility of prehistoric people, who bartered goods and services from each other before the innovation of modern-day currency. Peter Watson dates the history of long-distance commerce from circa 150,000 years ago.[7]


In the Mediterranean region the earliest contact between cultures were of members of the species Homo sapiens principally using the Danube river, at a time beginning 35,000–30,000 BCE.[8][9][10]


Some trace the origins of commerce to the very start of transaction in prehistoric times. Apart from traditional self-sufficiency, trading became a principal facility of prehistoric people, who bartered what they had for goods and services from each other.



The caduceus has been used today as the symbol of commerce[11] with which Mercury has traditionally been associated.

Ancient history


Ancient Etruscan "aryballoi" terracota vessels unearthed in the 1860s at Bolzhaya Bliznitsa tumulus near Phanagoria, South Russia (then part of the Bosporan Kingdom of Cimmerian Bosporus); on exhibit at the Hermitage Museum in Saint Petersburg.

Trade is believed to have taken place throughout much of recorded human history. There is evidence of the exchange of obsidian and flint during the stone age. Trade in obsidian is believed to have taken place in Guinea from 17,000 BCE.[12][13]


The earliest use of obsidian in the Near East dates to the Lower and Middle paleolithic.[14]


—?HIH Prince Mikasa no Miya Takahito

Trade in the stone age was investigated by Robert Carr Bosanquet in excavations of 1901.[15][16] Trade is believed to have first begun in south west Asia.[17][18]


Archaeological evidence of obsidian use provides data on how this material was increasingly the preferred choice rather than chert from the late Mesolithic to Neolithic, requiring exchange as deposits of obsidian are rare in the Mediterranean region.[19][20][21]


Obsidian is thought to have provided the material to make cutting utensils or tools, although since other more easily obtainable materials were available, use was found exclusive to the higher status of the tribe using "the rich man's flint".[17]


Obsidian was traded at distances of 900 kilometres within the Mediterranean region.[22]


Trade in the Mediterranean during the Neolithic of Europe was greatest in this material.[19][23] Networks were in existence at around 12,000 BCE[24] Anatolia was the source primarily for trade with the Levant, Iran and Egypt according to Zarins study of 1990.[25][26][27] Melos and Lipari sources produced among the most widespread trading in the Mediterranean region as known to archaeology.[28]


The Sari-i-Sang mine in the mountains of Afghanistan was the largest source for trade of lapis lazuli.[29][30] The material was most largely traded during the Kassite period of Babylonia beginning 1595 BCE.[31][32]


Later trade

Mediterranean and Near East

Ebla was a prominent trading centre during the third millennia, with a network reaching into Anatolia and north Mesopotamia.[28][33][34][35]



A map of the Silk Road trade route between Europe and Asia.

Materials used for creating jewelry were traded with Egypt since 3000 BCE. Long-range trade routes first appeared in the 3rd millennium BCE, when Sumerians in Mesopotamia traded with the Harappan civilization of the Indus Valley. The Phoenicians were noted sea traders, traveling across the Mediterranean Sea, and as far north as Britain for sources of tin to manufacture bronze. For this purpose they established trade colonies the Greeks called emporia.[citation needed][36]


From the beginning of Greek civilization until the fall of the Roman empire in the 5th century, a financially lucrative trade brought valuable spice to Europe from the far east, including India and China. Roman commerce allowed its empire to flourish and endure. The latter Roman Republic and the Pax Romana of the Roman empire produced a stable and secure transportation network that enabled the shipment of trade goods without fear of significant piracy, as Rome had become the sole effective sea power in the Mediterranean with the conquest of Egypt and the near east.[37]


In ancient Greece Hermes was the god of trade[38][39] (commerce) and weights and measures,[40] for Romans Mercurius also god of merchants, whose festival was celebrated by traders on the 25th day of the fifth month.[41][42] The concept of free trade was an antithesis to the will and economic direction of the sovereigns of the ancient Greek states. Free trade between states was stifled by the need for strict internal controls (via taxation) to maintain security within the treasury of the sovereign, which nevertheless enabled the maintenance of a modicum of civility within the structures of functional community life.[43][44]


The fall of the Roman empire, and the succeeding Dark Ages brought instability to Western Europe and a near collapse of the trade network in the western world. Trade however continued to flourish among the kingdoms of Africa, Middle East, India, China and Southeast Asia. Some trade did occur in the west. For instance, Radhanites were a medieval guild or group (the precise meaning of the word is lost to history) of Jewish merchants who traded between the Christians in Europe and the Muslims of the Near East.[citation needed]


The Orient

Archaeological evidence (Greenberg 1951) of the first use of trade-marks are from China dated about 2700 BCE.[45]


Central America

The emergence of exchange networks in the Pre-Columbian societies of and near to Mexico are known to have occurred within recent years before and after 1500 BCE.[46]


Middle Ages

During the Middle Ages, commerce developed in Europe by trading luxury goods at trade fairs. Wealth became converted into movable wealth or capital. Banking systems developed where money on account was transferred across national boundaries. Hand to hand markets became a feature of town life, and were regulated by town authorities.


Western Europe established a complex and expansive trade network with cargo ships being the main workhorse for the movement of goods, Cogs and Hulks are two examples of such cargo ships[47]. Many ports would develop their own extensive trade networks. The English port city of Bristol traded with peoples from what is modern day Iceland, all along the western coast of France, and down to what is now Spain[48].



A map showing the main trade routes for goods within late medieval Europe.

During the Middle Ages, Central Asia was the economic center of the world.[49] The Sogdians dominated the East-West trade route known as the Silk Road after the 4th century CE up to the 8th century CE, with Suyab and Talas ranking among their main centers in the north. They were the main caravan merchants of Central Asia.


From the 8th to the 11th century, the Vikings and Varangians traded as they sailed from and to Scandinavia. Vikings sailed to Western Europe, while Varangians to Russia. The Hanseatic League was an alliance of trading cities that maintained a trade monopoly over most of Northern Europe and the Baltic, between the 13th and 17th centuries.


The Age of Sail and the Industrial Revolution

Vasco da Gama pioneered the European Spice trade in 1498 when he reached Calicut after sailing around the Cape of Good Hope at the southern tip of the African continent. Prior to this, the flow of spice into Europe from India was controlled by Islamic powers, especially Egypt. The spice trade was of major economic importance and helped spur the Age of Discovery in Europe. Spices brought to Europe from the Eastern world were some of the most valuable commodities for their weight, sometimes rivaling gold.


In the 16th century, the Seventeen Provinces were the centre of free trade, imposing no exchange controls, and advocating the free movement of goods. Trade in the East Indies was dominated by Portugal in the 16th century, the Dutch Republic in the 17th century, and the British in the 18th century. The Spanish Empire developed regular trade links across both the Atlantic and the Pacific Oceans.



Danzig in the 17th century, a port of the Hanseatic League.

In 1776, Adam Smith published the paper An Inquiry into the Nature and Causes of the Wealth of Nations. It criticised Mercantilism, and argued that economic specialisation could benefit nations just as much as firms. Since the division of labour was restricted by the size of the market, he said that countries having access to larger markets would be able to divide labour more efficiently and thereby become more productive. Smith said that he considered all rationalisations of import and export controls "dupery", which hurt the trading nation as a whole for the benefit of specific industries.


In 1799, the Dutch East India Company, formerly the world's largest company, became bankrupt, partly due to the rise of competitive free trade.



Berber trade with Timbuktu, 1853.

19th century

In 1817, David Ricardo, James Mill and Robert Torrens showed that free trade would benefit the industrially weak as well as the strong, in the famous theory of comparative advantage. In Principles of Political Economy and Taxation Ricardo advanced the doctrine still considered the most counterintuitive in economics:


When an inefficient producer sends the merchandise it produces best to a country able to produce it more efficiently, both countries benefit.

The ascendancy of free trade was primarily based on national advantage in the mid 19th century. That is, the calculation made was whether it was in any particular country's self-interest to open its borders to imports.


John Stuart Mill proved that a country with monopoly pricing power on the international market could manipulate the terms of trade through maintaining tariffs, and that the response to this might be reciprocity in trade policy. Ricardo and others had suggested this earlier. This was taken as evidence against the universal doctrine of free trade, as it was believed that more of the economic surplus of trade would accrue to a country following reciprocal, rather than completely free, trade policies. This was followed within a few years by the infant industry scenario developed by Mill promoting the theory that government had the duty to protect young industries, although only for a time necessary for them to develop full capacity. This became the policy in many countries attempting to industrialise and out-compete English exporters. Milton Friedman later continued this vein of thought, showing that in a few circumstances tariffs might be beneficial to the host country; but never for the world at large.[50]


20th century

The Great Depression was a major economic recession that ran from 1929 to the late 1930s. During this period, there was a great drop in trade and other economic indicators.


The lack of free trade was considered by many as a principal cause of the depression causing stagnation and inflation.[51] Only during the World War II the recession ended in the United States. Also during the war, in 1944, 44 countries signed the Bretton Woods Agreement, intended to prevent national trade barriers, to avoid depressions. It set up rules and institutions to regulate the international political economy: the International Monetary Fund and the International Bank for Reconstruction and Development (later divided into the World Bank and Bank for International Settlements). These organisations became operational in 1946 after enough countries ratified the agreement. In 1947, 23 countries agreed to the General Agreement on Tariffs and Trade to promote free trade.[52]


The European Union became the world's largest exporter of manufactured goods and services, the biggest export market for around 80 countries.[53]


21st century

See also: Globalization

Today, trade is merely a subset within a complex system of companies which try to maximize their profits by offering products and services to the market (which consists both of individuals and other companies) at the lowest production cost. A system of international trade has helped to develop the world economy but, in combination with bilateral or multilateral agreements to lower tariffs or to achieve free trade, has sometimes harmed third-world markets for local products.


Free trade

Main article: Free trade

Free trade advanced further in the late 20th century and early 2000s:


1992 European Union lifted barriers to internal trade in goods and labour.

January 1, 1994 the North American Free Trade Agreement (NAFTA) took effect

1994 The GATT Marrakech Agreement specified formation of the WTO.

January 1, 1995 World Trade Organization was created to facilitate free trade, by mandating mutual most favoured nation trading status between all signatories.

EC was transformed into the European Union, which accomplished the Economic and Monnetary Union (EMU) in 2002, through introducing the Euro, and creating this way a real single market between 13 member states as of January 1, 2007.


Intérêts des nations de l'Europe, dévélopés relativement au commerce (1766)

2005, the Central American Free Trade Agreement was signed; It includes the United States and the Dominican Republic.

Perspectives

Protectionism

Main article: Protectionism

Protectionism is the policy of restraining and discouraging trade between states and contrasts with the policy of free trade. This policy often takes of form of tariffs and restrictive quotas. Protectionist policies were particularly prevalent in the 1930s, between the Great Depression and the onset of World War II.


Religion

Islamic teachings encourage trading (and condemn usury or interest).[54][55]


Judeao-Christian teachings prohibit fraud and dishonest measures, and historically also forbade the charging of interest on loans.[56][57]


Development of money

Main article: History of money


A Roman denarius.

The first instances of money were objects with intrinsic value. This is called commodity money and includes any commonly available commodity that has intrinsic value; historical examples include pigs, rare seashells, whale's teeth, and (often) cattle. In medieval Iraq, bread was used as an early form of money. In Mexico under Montezuma cocoa beans were money. [6]


Currency was introduced as a standardised money to facilitate a wider exchange of goods and services. This first stage of currency, where metals were used to represent stored value, and symbols to represent commodities, formed the basis of trade in the Fertile Crescent for over 1500 years.


Numismatists have examples of coins from the earliest large-scale societies, although these were initially unmarked lumps of precious metal.[58]


Bitcoin and other Cryptocurrency provide a worldwide payment system for decentralized digital currency.


Trends

Doha rounds

Main article: Doha round

The Doha round of World Trade Organization negotiations aimed to lower barriers to trade around the world, with a focus on making trade fairer for developing countries. Talks have been hung over a divide between the rich developed countries, represented by the G20, and the major developing countries. Agricultural subsidies are the most significant issue upon which agreement has been hardest to negotiate. By contrast, there was much agreement on trade facilitation and capacity building. The Doha round began in Doha, Qatar, and negotiations were continued in: Cancún, Mexico; Geneva, Switzerland; and Paris, France and Hong Kong.[citation needed]


China

Beginning around 1978, the government of the People's Republic of China (PRC) began an experiment in economic reform. In contrast to the previous Soviet-style centrally planned economy, the new measures progressively relaxed restrictions on farming, agricultural distribution and, several years later, urban enterprises and labor. The more market-oriented approach reduced inefficiencies and stimulated private investment, particularly by farmers, that led to increased productivity and output. One feature was the establishment of four (later five) Special Economic Zones located along the South-east coast.[citation needed]


The reforms proved spectacularly successful in terms of increased output, variety, quality, price and demand. In real terms, the economy doubled in size between 1978 and 1986, doubled again by 1994, and again by 2003. On a real per capita basis, doubling from the 1978 base took place in 1987, 1996 and 2006. By 2008, the economy was 16.7 times the size it was in 1978, and 12.1 times its previous per capita levels. International trade progressed even more rapidly, doubling on average every 4.5 years. Total two-way trade in January 1998 exceeded that for all of 1978; in the first quarter of 2009, trade exceeded the full-year 1998 level. In 2008, China's two-way trade totaled US$2.56 trillion.[59]


In 1991 China joined the Asia-Pacific Economic Cooperation group, a trade-promotion forum.<https://www.apec.org/About-Us/About-APEC/Member-Economies> In 2001, it also joined the World Trade Organization.<https://www.wto.org/english/thewto_e/countries_e/china_e.htm>


International trade

Main article: International trade

Part of a series on

World trade

Storck Harbour scene.jpg

Policy

Restrictions

History

Organizations

Economic integration

Issues

Lists

By country

Theory

v t e

International trade is the exchange of goods and services across national borders. In most countries, it represents a significant part of GDP. While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance have increased in recent centuries, mainly because of Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing.[citation needed]


Empirical evidence for the success of trade can be seen in the contrast between countries such as South Korea, which adopted a policy of export-oriented industrialization, and India, which historically had a more closed policy. South Korea has done much better by economic criteria than India over the past fifty years, though its success also has to do with effective state institutions.[citation needed]


Trade sanctions

Trade sanctions against a specific country are sometimes imposed, in order to punish that country for some action. An embargo, a severe form of externally imposed isolation, is a blockade of all trade by one country on another. For example, the United States has had an embargo against Cuba for over 40 years.[60]

Trade barriers

International trade, which is governed by the World Trade Organization, can be restricted by both tariff and non-tariff barriers. International trade is usually regulated by governmental quotas and restrictions, and often taxed by tariffs. Tariffs are usually on imports, but sometimes countries may impose export tariffs or subsidies. Non-tariff barriers include Sanitary and Phytosanitary rules, labeling requirements and food safety regulations. All of these are called trade barriers. If a government removes all trade barriers, a condition of free trade exists. A government that implements a protectionist policy establishes trade barriers. There are usually few trade restrictions within countries although a common feature of many developing countries is police and other road blocks along main highways, that primarily exist to extract bribes.[citation needed]


Fair trade

The "fair trade" movement, also known as the "trade justice" movement, promotes the use of labour, environmental and social standards for the production of commodities, particularly those exported from the Third and Second Worlds to the First World. Such ideas have also sparked a debate on whether trade itself should be codified as a human right.[61]


Importing firms voluntarily adhere to fair trade standards or governments may enforce them through a combination of employment and commercial law. Proposed and practiced fair trade policies vary widely, ranging from the common prohibition of goods made using slave labour to minimum price support schemes such as those for coffee in the 1980s. Non-governmental organizations also play a role in promoting fair trade standards by serving as independent monitors of compliance with labeling requirements.[citation needed] As such, it is a form of Protectionism.


See also

iconEconomics portal

Accounting

Advertising

Bachelor of Commerce

Business

Capitalism

Commercial law

Distribution (business)

Wholesale

Retailing

Cargo

Eco commerce

Economy

Electronic commerce

Export

Fair

Finance

Fishery

Harvest

Industry

Import

Laissez-faire

Manufacturing

Marketing

Marketplace

Mass production

Master of Commerce

Merchandising

List of trading companies

Notes

 Samuelson, P (1939). "The Gains from International Trade". The Canadian Journal of Economics and Political Science. 5 (2): 195–205. doi:10.2307/137133.

 Dollar, D; Kraay, A (2004). "Trade, Growth, and Poverty" (PDF). The Economic Journal. 114 (493): F22–F49. doi:10.1111/j.0013-0133.2004.00186.x.

 Munim, Ziaul Haque; Schramm, Hans-Joachim (2018). "The impacts of port infrastructure and logistics performance on economic growth: the mediating role of seaborne trade". Journal of Shipping and Trade. 3 (1): 1–19. doi:10.1186/s41072-018-0027-0.

 Compare peddling and other types of retail trade:Hoffman, K. Douglas, ed. (2005). Marketing principles and best practices (3 ed.). Thomson/South-Western. p. 407. ISBN 9780324225198. Retrieved 2018-05-03. Five types of nonstore retailing will be discussed: street peddling, direct selling, mail-order, automatic-merchandising machine operators, and electronic shopping.

 "Distribution Services". Foreign Agricultural Service. 2000-02-09. Retrieved 2006-04-04.

 Wikisource Chisholm, Hugh, ed. (1911). "Commerce". Encyclop?dia Britannica. 6 (11th ed.). Cambridge University Press. p. 766.

 Watson (2005), Introduction.

 D Abulafia; O Rackham; M Suano, The Mediterranean in History, Getty Publications, 1 Mar 2011, ISBN 1606060570, retrieved 2012-06-26

 V Stefansson. Great Adventures and Explorations: From the Earliest Times to the Present As Told by the Explorers Themselves Kessinger Publishing, 30 May 2005 ISBN 1417990902 Retrieved 2012-06-26[dead link]

 National Maritime Historical Society. Sea History, Issues 13-25 published by National Maritime Historical Society 1979. Retrieved 2012-06-26

 Hans Biedermann, James Hulbert (trans.), Dictionary of Symbolism - Cultural Icons and the Meanings behind Them, p. 54.

 (secondary)G G Lowder – Studies in volcanic petrology: I. Talasea, New Guinea. II. Southwest Utah University of California, 1970 Retrieved 2012-06-28

 T Darvill, The Concise Oxford Dictionary of Archaeology, Oxford University Press, 10 Oct 2008, ISBN 0199534047, retrieved 2012-06-28

 HIH Prince Mikasa no Miya Takahito – Essays on Anatolian Archaeology Otto Harrassowitz Verlag, 1993Retrieved 2012-06-16

 Vernon Horace Rendall, ed. (1904). The Athenaeum. J. Francis. Retrieved 2012-06-09

 Donald A. Mackenzie – Myths of Crete and Pre-Hellenic Europe – published 1917 – ISBN 1605063754 Retrieved 2012-06-09

 R L Smith, Premodern Trade in World History, Taylor & Francis, 2009, ISBN 0415424763, retrieved 2012-06-15

 P Singh – Neolithic cultures of western Asia Seminar Press, 20 Aug 1974

 J Robb, The Early Mediterranean Village: Agency, Material Culture, and Social Change in Neolithic Italy, Cambridge University Press, 23 July 2007, ISBN 0521842417, retrieved 2012-06-11

 P Goldberg, V T Holliday, C Reid Ferring – Earth Sciences and Archaeology Springer, 2001 ISBN 0306462796 Retrieved 2012-06-28

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 "Obsidian in the Mediterranean and the Near East: A Provenancing Success Story". Archaeometry. 37 (2): 217–48. 1995. doi:10.1111/j.1475-4754.1995.tb00740.x.

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 Pax Romana let average villagers throughout the Empire conduct day to day affairs without fear of armed attack.

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 Nomani & Rahnema (1994), p. ?. "I want nine out of ten people from my Ummah (nation) as traders" and "Trader, who did trading in truth, and sold the right quantity and quality of goods, he will stand along Prophets and Martyrs, on Judgment day".

 "O ye who believe! Eat not up your property among yourselves in vanities; but let there be among you traffic and trade by mutual good-will." Quran 4:29 and "Allah has allowed trading and forbidden usury." Quran 2:275

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Bibliography

Wikimedia Commons has media related to Trade.

Beckwith, Christopher I (2011) [2009]. Empires of the Silk Road: A History of Central Eurasia from the Bronze Age to the Present. Princeton: University Press. ISBN 978-0-691-15034-5.

Bernstein, William (2008). A Splendid Exchange: How Trade Shaped the World. New York: Grove Press. ISBN 978-0-8021-4416-4.

Davies, Glyn (2002) [1995]. Ideas: A History of Money from Ancient Times to the Present Day. Cardiff: University of Wales Press. ISBN 978-0-7083-1773-0.

Nomani, Farhad; Rahnema, Ali (1994). Islamic Economic Systems. New Jersey: Zed Books. ISBN 1-85649-058-0.

Paine, Lincoln (2013). The Sea and Civilisation: a Maritime History of the World. Atlantic. (Covers sea-trading over the whole world from ancient times.)

Watson, Peter (2005). Ideas: A History of Thought and Invention from Fire to Freud. New York: HarperCollins Publishers. ISBN 978-0-06-621064-3.

External links

Look up trade in Wiktionary, the free dictionary.

Agritrade Resource material on trade by ACP countries

World Bank's World Integrated Trade Solution provides summary trade statistics and custom query features

World Bank's Preferential Trade Agreement Database

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