Preface. Strengths and Features of this Book. Acknowledgments. Introduction: A Brief History of International Trade. Ancient Period. Colonial Period (1500-1900). 1900 to the Present. SECTION I: OVERVIEW OF INTERNATIONAL TRADE. 1. Growth and Direction of International Trade. Importance of International Trade to the Global Economy. Determinants of Trade. Volume and Direction of Trade. Important Developments in Trade. Chapter Summary. Review Questions. Case 1.1 The Limitations of Export-Led Growth. 2. International and Regional Agreements Affecting Trade. The GATT and WTO. Regional Integration Agreements. The North American Free Trade Agreement. The European Union. Chapter Summary. Review Questions. Case 2.1 The Benefits and Costs of Free Trade. SECTION II: EXPORT MARKETING AND STRATEGY. 3. Setting Up the Business. Ownership Structure. Business or Trade Name. Bank Accounts, Permits, and Licenses. Location and Use of Professional Services. Organizing for Export: Industry Approach. General Principles of Taxation. Taxation of Export-Import Transactions. International Transfer Pricing. Chapter Summary. Review Questions. Case 3.1 Globalization and the Shrinking Tax Base. 4. Planning and Preparations for Export. Assessing and Selecting the Product. International Market Research. International Market Assessment. Developing an International Business Plan. Export Counseling and Assistance. Overseas Travel and Promotion. Chapter Summary. Review Questions. Case 4.1 Developing Export Markets. 5. Export Channels of Distribution. Export Channels of Distribution. Indirect Channels. Direct Channels. Locating, Contacting, and Evaluating Agents and Distributors. Contracts with Foreign Agents and Distributors (Representatives). Major Clauses in Representation Agreements. Maintaining and Motivating Overseas Representatives. Chapter Summary. Review Questions. Case 5.1 Export Channel Decisions of Two U.S. Companies. Case 5.2 The Internet and Exporting: A Focus on Developing Countries. 6. International Logistics, Risk, and Insurance. External Influences on Logistics Decisions. Typical Logistics Problems and Solutions. The International Logistics Process. Logistics Functions. Risks in Foreign Trade. Marine and Aviation Insurance. Claims and Procedures. Chapter Summary. Review Questions. Case 6.1 Marine Insurance. Case 6.2 Marine Insurance: Inchmaree Clause. SECTION III: EXECUTING THE TRANSACTIONS. 7. Pricing in International Trade. Determinants of Export Prices. Pricing in Export Markets. Terms of Sale. Chapter Summary. Review Questions. Case 7.1 Incoterms (CIF). Case 7.2 Incoterms (C&F). 8. Export Sales Contracts. Harmonization of Contract Law. CISG: Essential Elements. Pertinent Clauses in Export Contracts. Chapter Summary. Review Questions. Case 8.1 CISG. Case 8.2 China Products versus Apex Digital Inc. 9. Trade Documents and Transportation. Documentation in Export-Import Trade. Transportation. Air Transportation. Ocean Freight. Land Transport and Intermodal Service. The Role of Freight Forwarders in Transportation. Chapter Summary. Review Questions. Case 9.1 What Constitutes a Package Under COGSA. Case 9.2 The Container Revolution. SECTION IV: PAYMENT TERMS AND PROCEDURES. 10. Exchange Rates and International Trade. Foreign Exchange Transactions. Protection Against Exchange Rate Risks. Chapter Summary. Review Questions. Case 10.1 Will the U.S. Dollar Maintain Its Key Currency Status? 11. Methods of Payment. Consignment Sales.
Belay Seyoum, PhD, is Associate Professor of International Business Studies at Nova Southeastern University in Fort Lauderdale, Florida, where he teaches a variety of courses in international business and economics. Prior to coming to Nova Southeastern, Dr. Seyoum taught international business at Concordia University and McGill University in Montreal, Canada. Dr. Seyoum has published four books as well as numerous articles in the area of international trade in several prestigious academic journals such as the International Business Review, the Journal of World Trade, Multinational Business Review, the International Trade Journal, the Columbia Journal of World Business, and the Journal of Global Business. He is recipient of the Fulbright Scholar award for 2007 and lives in Florida.