Why does trade protectionism still exist despite the benefits of international trade?Trade protectionism exits for economic and political reasons. Nations want to protect their infant industries and jobs from foreign competition, to maintain balance of payment, and not to support their foes.What is the principle of comparative advantage & absolute advantage?相对优势，绝对优势？Created by David Ricardo, the principle of comparative advantage is a basic theory for specialization and trade which says trade will benefit both nations provided only that their relative costs, that is, the ratios of their real costs measured by labor-hour or another commodity, are different for two or more commodities. In other word, trade depends on differences in comparative cost or opportunity cost, and one nation can profitably trade with another even though its real costs are higher(or lower) in every commodity.In his work "The Wealth of Nations(1776)", Adam Smith assumed that each country could produce one or more commodities at a lower real cost than its trading partners. It then follows that each country will benefit from specialization inthose commodities in which it has an "absolute advantage" , exporting them and importing other commodities which it produces at a higher real cost than another country.What should be considered in the choice of trade terms?1.Transport capacity;2.Customer's location;3.Freight rate;4.Loading/unloading facilities and local port custom;5.Risk in transit.What are the key issues that a contract must spell out clearly?1.Seller's and buyer's responsibilities and associated costs;2.Time and place of delivery;3.Documents and expenses;4.Title to the goods.Generally speaking, what are the main reasons for cargo packing?Generally speaking, there are four main reasons for cargo packing:A.Protective function that essentially involves protecting the contents from the environment and vice versa;B.Loading and transport function that requires proper packaging design for east handing and space-saving transportation;C.Stowage function that facilitates stowage and distribution;D.Promotion function that helps generate product awareness and sales.What are the main factors influencing types of cargo packaging?The main factors influencing types of cargo packaging are:A.Nature of cargo;B.Transport;C.Customs and statutory requirements;D.Insurance acceptance conditions;E.Cost;F.Ease of handling and stowage.What purposes does correct and complete marking serve?Correct and complete marking of packages helps preventincorrect handling, accidents, incorrect delivery, losses of weight and volume and customs fines.What are the main types of marks?The main types of marks include shipping marks, indicative marks and warning marks.What are the marking requirements?The marking requirements are internationality, visibility, legibility and indelibility.What are the key differences between liners and tramps?班轮和租船的区别？A liner operates over a regular route according to an advertised time-table but a tramp does not operate this way. Instead, a tramp is a vessel hried to pick up cargo from almost any port and go directly to the port of destination.What key purposes does a B/L serve?A B/L serves three key purposes. First it is evidence that a valid contract of carriage exists between the carrier and the shipper, and it may incorporate the full terms of the contractbetween them. Second, it is a receipt signed by the carrier confirming whether goods matching the contract description have been received from the shipper in good condition. Third, it is also a document of title, creating ownership of the goods shipped.What is Air Waybill and what is the key difference between this document and an Ocean B/L?An air waybill is a transport document issued by airlines or air cargo companies or their agents. The key difference between this document and an ocean B/L is that air waybill is not a title document. As a straight waybill, an air waybill is not transferable or negotiable and a shipper does not lose his ownership of the cargo by handing the air waybill to the airline. However, as the buyer is named the consignee on the waybill and he/she can claim the consignment from the carrier by simply showing proof of identity.How can an offer be terminated?An offer can be terminated by:1.The party offering may revoke the offer if no consideration has been given.2.The offer may lapse(either after a specified time, or it may just become stale).3.Offer may come to and end after a stipulated event occurs or does not occur.4.Offer may lapse on death of the party offering.5.Offer is killed by a counter-offer.What can be used as payment instruments for international trade?Cash, credit cards, checks, money orders, promissory notes, drafts, etc.What ate the responsibilities of banks in documentary collections?Banks in documentary collection act as agents and carry out the instructions they have taken. They need to advise in a timely manner payment, acceptance, or non-payment, non-acceptance. However, they have no obligation to make payment.Why is insurance necessary trade?Insurance in needed in international trade because of therisks of loss of and damage to the goods in loading/unloading, warehousing, transportation, etc.What are the principles of cargo insurance?The principles of cargo insurance are insurable interest, utmost good faith, indemnity, proximate cause and subrogation. insurable interest means the person insuring must be the one who stands to bear some financial loss if the risk materializes. Utmost good faith requires the assured and the insurer to deal with each other with the highest standard of honesty. Indemnity means that the assured cannot recover more than his actual loss. Proximate cause concerns with establishing the actual cause of loss of or damage to cargo, referring to the first peril in a chain of events that result in a loss. And subrogation gives an underwriter the position of the assured to take over all rights of the assured in respect of the loss the underwriter has paid after he has paid a loss under his policy.When will the insurance company get the title to the insured goods? What does this mean to the assured?The insurance company will get the title to the insured cargo only after it has paid the loss under the policy. The assuredmust be clear that the title to the damaged cargo is not automatically transferred from him to the insurance company and that the still has interest in the damaged cargo before the loss is paid.。