17. selling rate

18. consignee

19. Incoterms

20. EU

IV. Fill in each of the following blanks with an appropriate word from the list (You can only choose 10 from the following 12 words in the square):(10%)

A letter of credit being the undertaking of the issuing bank to make (21)______ , the reputation, and the financial strength of that (22)______ are of prime importance. The (23)______ the bank’s financial standing is and the more prestigious the bank is, the more (24)______ its letter of credit appears.

Furthermore, it should be noted that the bank’s undertaking to pay as provided in a letter of credit is a (25)______ one. The bank will live up to its promise only when the stipulations in the letter of credit are complied (26)______ by the beneficiary in due course. In other words, the beneficiary , the (27)______ in foreign trade, will be (28)______ only after he has duly fulfilled his obligations (29)______ stated in the credit.

In summation, a letter of credit is a bank’s conditional (30)______ to make due payment to the beneficiary.

V. Translate the following into English:(25%)

31. 外国直接投资主要有三种形式：建立新企业，购买现成设备和建立合资公司。

32. 世界500 强企业中有160多家企业总部设在美国，这160多家企业中有24 家是全球前百名企业。

33. GDP 计算的是在一个经济体地理区域内所生产的所有实物产品和服务价值。

34. 国际商务的另一种重要形式是由一国居民向另一国提供资金，称为国际投资。

35. 每一份保险合同都需要有可保利益的支持，否则它就是无效的。

VI. Translate the following into Chinese:(15%)

36. After years of extraordinarily rapid development of its economy, Japan advanced to the rank of second most technologically-powerful economy in the world after the US, but growth slowed down markedly in the 1990s, averaging just 1.7%, largely because of the after—effects of over-investment during the late 1980s. Government efforts to revive economic growth have met with little success and were further hampered in 2000-2003 by the slowing of the US, European, and Asian economies. Japan’s huge government debt, which totals more than 150% of

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