Principles of International Trade

About the Book

This book, Principles of International Trade: Import-Export, is intended for students studying international trade and for business people who want to engage in international trade. This book covers the basic concepts and procedures that are required for starting and completing international transactions. All businesses, regardless of whether they do only domestic business or not, are affected by international trade and business. Consumers encounter imported products at most retail stores, and domestic businesses are exposed to stiff foreign competition. As a consumer or as a businessperson, all of us need to understand international trade for our own benefits. The draft version of this book, annually or biannually revised, had been used as a textbook at California State University, Los Angeles, California (Cal State, Los Angeles), and Pacific States University, Los Angeles, California (PSU), for over ten years before this book was first published in 1993 with the help and encouragement of my family, friends, students, and colleagues at both campuses. This book consists of thirty-seven chapters, a bibliography, websites, indexes, and endnotes. The text is divided into two parts. The first part, chapters 1 through 27, covers matters for importing goods from overseas and common topics related to both importing and exporting. The second part, chapters 28 through 37, is devoted to topics for exporting overseas. This new edition includes the latest Uniform Customs and Practice for Documentary Credits No. 600 (2007 Revision) and Incoterms 2010 published by the International Chamber of Commerce (ICC). Instructor’s teaching materials for international trade (import-export), such as PowerPoint slides and key points for examinations, are available at the author’s website: http://www.internationaltraderesearch.com. The material and information in this text have been brought current as of June 1, 2017. Any errors or omissions exclusively belong to me. I would appreciate any comments, suggestions, or recommendations directed to me at my email address: drccrhee@gmail.com or fax 626-795-5196. Your comments, suggestions, or recommendations will be used in improving this book at the next publication.

About the Author

Dr. Chase C. Rhee is a professor of International Trade at the Pacific States University (PSU) in Los Angeles, California. Dr. Rhee also taught Import/Export at the University of California Los Angeles (UCLA) Extension School and the California State University Los Angeles (CSULA) for 20 years. Dr. Rhee received his bachelor’s degree in international trade at the College of Commerce of Seoul National University, Seoul, Korea and his master’s degree in international management at Thunderbird School of Global Management, Glendale, Arizona. He also received his Doctor of Business Administration (DBA) degree in international management at U.S. International University (name changed to Alliant International University), San Diego, California. Dr. Rhee has over 30 years experience in international trade (import/export) for a wide range of products including international banking. Dr. Rhee contributed numerous articles to Los Angeles-based Korea Times and made several presentations on the U.S.-Korea Free Trade Agreement (US-Korea FTA, also called KORUS). Dr. Rhee is a well-respected expert in international business matters due to his skill in combining academic theories and research with hands-on experience of the real world of international business.