CHALIMBANA UNIVERSITY

INSTITUTE OF DISTANCE EDUCATION

BUSINESS MATHEMATICS
NAME : TWAAMBO MUDAALA

COMPUTER NUMBER : 1904030816

PROGRAM : BBA - EDUCATION

COURSE CODE : BCM 1111

COURSE : FUNDAMENTAL OF COMMERCE

LECTURE : MR. MULENGA, C.

ASSIGNMENT NUMBER : ONE

YEAR : 2019

ADRESS : twaambomudaala@gmail.com

DUE DATE : 30TH SEPTEMBER, 2019.

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Zambia .before .and .even .since .the .British .Colonialist .of .our .country .has .been .engaged .in
. international .trade. .But .it .was .obviously .spelt .out .during .the .British .Colonialist .that .was .in .the .15th
. century .termed .legitimate .trade. .This .was .until .1964 .during .which .Zambia .got .its .independence.
. This .means .that, .Zambia .was .no .longer .controlled .solely .by .the .dictates .of .the .British .Government
. Ever .since .then .legitimate .trade .to .the .Zambian .was .changed .to .international .trade .of .which .Banks
. has .a .major .role .to .play .in .it. .Zambia .since .the .oil .boom .in .the .early .70’s .has .been .enjoying
. Zambia .and .across .the .country. .Diversifying .its .economy. .Apart .from .international .trade, .and .as .a
. result .of .climatic .factors, .Zambia .needs .international .trade .to .diversify, .accelerate .its .economic
. development .in .the .country. .This .paper .therefore, .attempts .to .explain .why .countries .like .Zambia
. needs .international .trade. .It .will .further .articulate .how .the .bank .and .insurance .aids .the
. international .trade .and .how .to .use .advertisement .in .international .trade.

International .trade .refers .to .the .exchange .of .goods .and .services .between .the .countries. .In .simple
. words, .it .means .the .export .and .import .of .goods .and .services. .Export .means .selling .goods .and
. services .out .of .the .country, .while .import .means .goods .and .services .flowing .into .the .country.
. Norbert .in .his .published .test .“Economics .of .business .studies” .(1999: .278) .defines .an .international
. trade .or .external .trade .as .“a .trade .between .two .or .more .countries; .it .is .the .exchange .of .goods .and
. services .between .two .or .more .countries”. .Consequently, .countries .go .for .trade .internationally,
. when .there .are .not .enough .resources .or .capacity .to .meet .the .domestic .demand. .So, .by .importing
. the .needed .goods, .a .country .can .use .their .domestic .resources .to .produce .what .they .are .good .at.
. Then, .the .country .can .export .the .surplus .in .the .international .market.

However, .there .is .always .a .need .for .countries .have .different .capabilities .and .they .specialize .in
. producing .different .things. .To .compensate .for .what .they .don’t .produce, .then . theere is need to
have .to .involve .trade .with .other .countries. .For .example, .not .all .the .countries .have .oil .resources,
. the .rest .of .the .countries .import .oil .from .the .oil .producers. .Most .of .the .oil .producers .on .the .other
. hand .import .finished .goods .because, .they .don‟t .produce .enough. .So .in .the .modern .world .no
. country .is .completely .self-sufficient. .Thus, .International .Trade .is .very .important .for .all .the
. countries .in .the .world.

There .are .number .of .reasons .why .countries .like .Zambia .needs .international .trade. .Some .of .the
. reasons .are .discussed .below;

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The .theory .of .comparative .advantage .states .that .countries .should .specialise .in .those .goods .where
. they .have .a .relatively .lower .opportunity .cost. .Therefore, .Zambia .needs .international .trade .for
. comparative .advantage .seek. .Even .if .one .country .can .produce .two .products .at .a .lower .absolute
. cost .– .doesn’t .mean .they .should .produce .everything. .Zambia, .with .lower .labour .costs, .may .have .a
. comparative .advantage .in .labour-intensive .production .(e.g. .call .centres, .clothing .manufacture,
. and .copper .production). .Therefore, .it .would .be .efficient .for .Zambia .to .export .these .services .and
. goods. .While .an .economy .like .the .UK .may .have .a .comparative .advantage .in .education .and .video
. game .production. .Therefore, .international .trade .allows .countries .to .specialise .(Dominick, .2013). .

Another .reason .why .Zambia .needs .international .trade .is .to .reduce .poverty .level .in .the .country.
. International .Trade .has .also .brought .in .a .reduction .in .the .poverty .level. .Zambia .was .a .closed
. economy .in .the .1960s .and .70s. .There .was .not .even .1% .decline .in .the .poverty .level. .The .entire
. scenario .changed .with .globalisation .and .international .trade. .According .to .Phillips .et .al. .(2008),
. the .reduction .in .the .poverty .level .is .due .to .a .pull .up .rather .than .a .trickledown .effect. .The .economic
. growth .brought .about .by .international .trade .can .generate .financial .resources. .Such .resources .can
. be .used .to .set .up .anti .poverty .programs. .Better .education .and .health .facilities .can .also .be .provided
. to .the .poor.

Furthermore, .Zambia .needs .international .trade .in .order .to .create .more .job .opportunities. .Increase
. in .international .trade .also .creates .job .opportunities .in .both .countries. .That’s .a .major .reason .why
. big .trading .nations .like .the .US, .Japan, .and .South .Korea .have .lower .unemployment .rates.
. According .to .Krugman .(2008), .“efficient .employment .of .the .production .forces .of .a .country .like
. Zambia .is .a .direct .economic .advantage .of .international .trade. .In .recent .years .international .trade
. acts .as .a .dynamic .force .which .by .increasing .the .extent .of .the .market .and .the .scope .of .the .division
. of .labour, .permits .a .greater .use .of .machinery, .stimulates .innovations, .overcomes .technical
. indivisibilities .raises .the .productivity .of .labour .and .generally .enables .the .trading .country .to .enjoy
. increasing .return .and .economic .development.”

Zambia .needs .international .trade .in .order .to .promote .the .price .entities .of .goods .and .services.
. Thorson .et .al. .(2011) .opined .that .if .Zambia .can .produce .or .offer .goods .and .services .more .cheaply,
. then .it .may .be .beneficial .to .go .for .foreign .trade. .Therefore, .international .trade .helps .Zambia .to
. keep .prices .down .through .imports .that .gives .access .to .latest .technology .and .ideas, .development .of
. more .efficient .methods .and .new .products, .a .better .allocation .of .resources, .pressure .of .competition
. for .export .market, .competitive .pressure .from .imports. .Although .free .trade .is .often .strongly

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. advocated, .many .countries .including .Zambia .believe .that .the .expansion .in .international .trade .is
. best .accomplished .through .the .establishment .of .Regional .Economic .Association .(REA).

Morever, .international .trade .injects .global .competitiveness .and .hence .the .domestic .business .units
. tend .to .become .very .efficient .being .exposed of .international .competition. .Due .to .the .integration
. with .the .world .economy .the .entrepreneurs .can .have .easy .access .to .the .technological .innovations.
. They .can .utilize .the .latest .technologies .to .enhance .their .productivity. .Olsen .(2016) .adds .that
. selling .goods .and .services .in .the .foreign .market .also .boosts .the .competition .in .that .market. .In .a
way, .it .is .good .for .local .suppliers .and .consumers .as .well. .Suppliers .will .have .to .ensure .that .their
. prices .and .quality .is .competitive .enough .to .meet .the .foreign .competition.

Besides, .international .trade .ensures .export .expansion .and .import .contraction .coupled .with .the .fact
. that .it .stimulates .foreign .exchange .earnings, .international .recognition .and .the .provision .of
. employment .opportunities .for .the .teeming .population. .International .trade .is .synonymous .with .the
. production .of .goods .and .services .for .the .benefit .of .trade .across .the .country. .Banks .play .a .critical
. role .in .international .trade .by .providing .trade .finance .products .that .reduce .the .risk .of .exporting. .As
. argued .by .Rodrik .(2000) .international .contract .enforcement .is .weak .and .bank .guarantees .provide
. a .way .of .ensuring .trade, .especially .when .local .courts .are .unable .or .unwilling .to .enforce .payment
. from .importers. .Thus, .we .have .the .banking .institution .that .ensures .that .trade .transactions .are
. running .smoothly.

Kindle .Berger .(1962) .pointed .out .that .banks .are .important .facilitators .of .international .trade.
. Besides .providing .liquidity .they .guarantee .payment .for .around .a .fifth .of .world .trade. .The .banking
. sector .thus .plays .an .important .role .in .international .trade .business. .Today, .almost .all .Banks .have
. formed .collaborative .alliances .and .established .correspondent .banking .relationships .with .Banks .in
. other .countries .to .better .serve .their .international .business .community. .Banks .play .a .key .role .in
. forming .a .bond .of .trust .between .buying .and .selling .agents .executing .transactions .in .international
. markets. .For .example, .local .Banks .have .intermediary .Banks .outside .the .country, .which .assist .in
. effecting .international .payments .hence .the .receipt .and .payment .for .goods .and .services .by .local
. people.

Banks .play .a .major .role .by .providing .assistance .in .many .ways .to .facilitate .International .Trade
. business .which .encompasses .financing .working .capital .requirements, .financing .capital .goods,
. identification .of .potential .markets .for .International .Trade, .identification .of .buyers .and .sellers,

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. facilitating .payment .for .International .Trade .transactions, .issuing .Import .Letters .of .Credit, .pre .and
. post .shipment .financing .and .guaranteeing .payment .under .Letters .of .Credit .issued .by .other .Banks. .

Morever, .the .two .most .common .trade .finance .instruments .provided .by .banks .are .letters .of .credit
. and .documentary .collections. .The .importer .initiates .the .letter .of .credit .transaction .by .having .its
. bank .issue .the .instrument .to .the .exporter. .The .letter .of .credit .guarantees .that .the .issuing .bank .will
. pay .the .agreed .contract .amount .when .the .exporter .proves .that .it .delivered .the .goods, .typically .by
. providing .shipping .documents .confirming .the .arrival .of .the .goods .in .the .destination .country. .To
. cover .the .risk .that .the .issuing .bank .will .not .pay, .an .exporter .may .have .a .bank .in .its .own .country
. confirm .the .letter .of .credit, .in .which .case .the .confirming .bank .agrees .to .pay .the .exporter .if .the
. issuing .bank .defaults. .In .contrast .to .a .letter .of .credit, .a .documentary .collection .does .not .involve
. payment .guarantees. .Instead, .the .exporters’ .bank .forwards .ownership .documents .to .the .importers
. bank; .the .documents, .which .transfer .the .legal .ownership .of .the .traded .goods .to .the .importer, .are
. handed .to .the .importer .only .upon .payment .for .the .goods. .

Besides .instruments .that .reduce .the .risk .of .a .transaction, .banks .also .provide .pre-export .and .pre-
import .loans .to .firms. .With .an .LC, .a .DC .or .an .open .account, .the .exporter .is .paid .only .after
. delivering .the .goods. .Therefore, .it .has .to .pre-finance .the .production .of .the .goods. .When .trade .is
. settled .with .cash-in-advance, .it .is .the .importer .that .must .pre-finance .the .transaction .and .provide
. the .working .capital .to .the .exporter. .In .both .cases, .firms .may .turn .to .banks .to .obtain .the .required
. funds.

Furthermore, .in .order .to .facilitate .international .trade .and .development, .banks .convert .and .trade
. foreign .currencies. .When .a .company .is .doing .business .in .another .country .it .may .be .paid .in .the
. currency .of .that .country. .While .some .of .these .revenues .will .be .used .to .pay .workers .in .that .country
. and .for .administrative .expense .such .as .office .rent, .utilities .and .supplies, .the .company .may .need .to
. purchase .goods .from .a .neighboring .country .in .that .country's .currency, .or .convert .cash .to .its .native
. currency .for .return .to .the .home .office.

Besides .banks .convert .and .trade .foreign .currencies, .the .banks .also .provide .overdraft .facilities,
. which .are .necessary .to .finance .the .working .capital .of .the .business. .An .overdraft .could .be .defined
. as .an .arrangement .whereby .the .banks .allow .their .customers .to .over-draw .his .account .up .to .a .credit
. position .at .the .end .of .the .period, .while .short .term .loans .refer .to .loans .granted .for .periods .between

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. one .to .five .years. .Then .medium .and .long .term .loans .are .granted .for .periods .between .five .to .ten
. years, .even .ten .years .respectively .(Van .Horen, .2007).

On .the .other .hand, .insurance .is .a .means .of .economic .compensation. .It .plays .an .important .role .in
. international .trade. .In .order .to .support .the .development .of .international .trade, .better .to .carry .out
. foreign .trade .operations. .Further .clarifing .the .status .and .role .of .insurance .in .international .trade .is
. important. .First .of .all, .insurance .can .promote .the .normal .development .of .international .trade.
. Secondly, .the .accumulation .of .foreign .exchange .funds .can .support .the .economic .development .of
. the .country. .In .addition, .the .insurance .in .favor .of .the .international .trade .department .to .conduct
. business. . .

Insurance .has .an .important .position .in .international .trade. .Foreign .trade .usually .go .through .long-
distance .transport, .whether .by .sea, .land, .air, .or .land .and .sea .transport .all .have .a .certain .amount .of
. risk, .due .to .natural .disasters .and .accidents, .transport .and .cargo .may .have .caused .the .loss. .In .order
. to .guarantee .safe .transport .of .goods, .the .importer .and .the .exporter, .and .the .urgent .need .for .both
. sides .are .willing .to .participate .in .the .insurance, .which .is .the .fundamental .reason .that .insurance .has
. become .one .of .the .fundamental .prerequisites .for .international .trade. .First, .there .must .be .a
. country's .foreign .trade, .then .need .import .and .export .insurance .(Foley .et .al., .2015: .119). .

If .there .is .no .foreign .trade, .insurance .will .lose .clients. .Before .the .liberation, .Zambia's .economic
. dependence .imperialism, .import .and .export .trade .volume was .very .small, .and .then .the .insurance .is
. useless. .After .the .liberation, .the .development .of .Zambia's .foreign .trade .each .year, .import .and
. export .transportation .insurance .for .foreign .trade .has .increased .year .by .year. .Therefore, .we .can .say
. that .the .development .of .foreign .trade .is .a .prerequisite .for .the .development .of .insurance, .in .turn,
. the .development .of .insurance .has .provided .a .guarantee .for .the .foreign .trade .business, .help .to
. further .engage .in .foreign .trade.

Therefore, .the .insurance .has .its .own .characteristics; .it .has .the .following .role .in .international .trade
. and .the .national .economy .of .any .nation .or .country:

One .of .the .importances .of .insurance .in .international .trade .is .that .it .promotes .the .normal
. development .of .international .trade .industry. .WTO .(2011) .states .that .financial .crisis .has .led
. importers .liquidity .shortage, .and .some .domestic .small .and .medium .enterprises .have .been .facing
. difficulties .in .financing .problems, .which .have .led .to .the .order .but .did .not .dare .take .the .case.

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. Export .credit .insurance .by .strengthening .cooperation .with .financial .institutions, .so .that .we .can
. provide .a .convenient .way .of .financing .greatly .enhance .the .confidence .of .bank .financing, .which
. gives .companies .overseas .orders .for .providing .effective .support. .

To .improve .the .proportion .of .export .tax .rebate, .reducing .the .cost .of .a .policy .focused .on .reducing
. charges .for .the .export .sector, .export .credit .insurance .policy .is .more .focused .on .export .promotion
. corporate .credit .rating, .to .support .export .companies .put .account .transactions, .enhance .export
. competitiveness .and .enhance .the .value .of .exports .and .expand .trade .scale .(Zhang, .2015: .7 .– .9).
. Sadly, .although .the .export .credit .insurance .has .such .power .and .have .strong .government .support,
. but .really .understand .their .skills, .and .rarely .use .it .to .promote .the .competitiveness .of .the .overseas
. enterprises. .In .addition, .the .insurance .company .has .paid .great .attention .to .the .establishment .of .a
. wide .range .of .insurance .outlets .and .offers .a .variety .of .insurance .services .in .order .to .facilitate .the
. normal .operation .and .development .of .international .trade.

Morever, .the .accumulation .of .foreign .exchange .funds .can .promote .the .country’s .economic
. development. .For .instance, .with .the .development .of .Zambia’s .foreign .insurance, .Zambia’s
. foreign .trade .has .a .rapid .development. .Although .Zambia’s .foreign .insurance .business .began .to
. expand .outside, .but .has .provided .Hundreds .of .millions .of .both .kwaachas .and .dollars .in .funding
. for .the .country, .these .funds .can .be .used .to .support .national .economic .development. .Therefore,
. authorities .should .pay .attention .to .closely .cooperate .with .the .foreign .trade .sector .and .the
. insurance .sector .to .develop .foreign .insurance. .A .few .years .later, .foreign .insurance .exchange
. funds .provided .by .the .State .will .be .more .substantial .(Huang, .1982: .42-43).

Insurance .improve .the .management .of .international .trade .department. .Participated .in .the
. international .trade .department .of .insurance .in .favor .of .improving .the .management .level. .This .is
. because .the .insurance .company .through .a .large .number .of .business .activities, .especially .in .the
. inspection .damage, .claims .handling .process, .can .accumulate .information, .to .understand .the
. reasons .for .the .damaged .goods, .to .detect .the .presence .of .transport, .handling, .packaging, .and .other
. aspects .of .the .problem, .to .the .authorities .comments .and .suggestions .conducive .to .prevention, .loss
. prevention, .to .reduce .the .loss .of .state .property, .maintaining .merchandise .credit, .foreign .trade
. sector .will .help .improve .the .management .of .goods, .improve .economic .efficiency .(Das, .2007).
. Insurance .companies .foreign .institutions, .but .also .to .provide .information .for .the .international
. trade .sector .and .economic .intelligence, .providing .customers .with .credit .terms .of .management
. style .and .materials .for .foreign .trade .departments.

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Lastly, .advertisement .is .an .important .part .of .a .successful .import-export .business .(i.e. .international
. trade). .Advertisement .is .a .mass .communicating .of .information .intended .to .persuade .buyers .to .by
. products .with .a .view .to .maximizing .a .compan’s .profits. .On .the .other .hand, .Advertising .is .a .form
. of .communication .intended .to .persuade .an .audience .(viewers, .readers .or .listeners) .to .purchase .or
. take .some .action .upon .products, .ideals, .or .services. .Therefore, .advertising .is .impersonal
. communication .of .information .about .products, .services .or .ideas .through .the .various .media, .and .it
. is .usually .persuasive .by .nature .and .paid .by .identified .sponsors .(Bovee, .1992).

However, .goods .and .services .are .produced .according .to .consumers .growing .and .changing .desires.
. They .are .competitive .tools .for .companies .among .their .rivals. .Companies .involved .in .the
. commercial .production .of .goods .and .services .need .advertising .for .several .important .reasons. .The
. first .reason .is .that .advertising .helps .to .publicize .and .promote .their .products .to .the .public .thereby
. helping .to .improve .sales. .Depending .on .the .nature .of .the .product, .advertising .uses .the .right .media
. to .get .the .message .cross .to .consumers. .For .example, .in .the .case .of .consumer .products .such .as
. food, .soap .and .soft .drink; .the .broadcast .media .is .often .chosen. . .Secondly, .advertisement .helps .to
. reduce .distribution .costs. .Because .advertisement .reaches .mass .audiences, .the .cost .of .personal
. selling .and .distribution .is .greatly .reduced .(Dominick, .2013). .Through .the .various .media
. advertisement .messages .can .go .beyond .regional .and .national .boundaries. .Advertisements .are
. therefore, .exposed .to .a .global .market .via .the .internet .and .social .networks.

Advertisement .serves .as .a .tool .for .competition. .In .order .to .compete .with .others .international
. countries, .countries .use .creative .and .appealing .advertisements .to .lure .consumers .to .patronize .their
. brands. .Some .countries .will .go .as .far .as .inundating .the .media .with .their .advertisements .in .order .to
. ensure .that .consumers’ .attention .is .captured. .However, .Phillip .and .Raspberry .(2008) .argue .that
. what .counts .is .not .what .the .company .says .about .itself .but .rather .what .people .say .about .it .as
. experience .shows .that .companies .who .trumpet .heir .virtues .are .barely .average.

Advertisement .for .manufacturers .has .several .advantages .like .promotes .products .because .people
. become .aware .of .the .existence .products .and .services .and .lead .them .to .making .a .purchase .so .sales
. are .increasing; .increasing .of .the .sales .demonstrate .higher .demand, .it .means .more .production;
. through .advertisement .companies .communicate .new .products .to .consumers .in .an .effective .and
. cost .effective .way. .Advertisement .simplifies .the .task .of .the .salesperson .and .helps .consumers
. reach .out .to .new .products .(Chowdhury, .2011). .In .addition, .through .advertisement .a .company .can
. compete .with .others .by .showcasing .competitive .prices .or .the .benefits .of .its .products .and .services.

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. Manufactures .can .also .remove .misunderstanding .about .their .products .through .appropriate
. advertising/advertisement.

Advertisement .for .consumers .has .also .several .advantages .in .international .trade .like .advertising
. helps .to .save .consumers .time .by .pointing .them .to .specific .products. .Advertising .also .helps
. consumers .to .be .more .specific .during .shopping; .consumers .can .make .their .choice .before .going
. shopping, .they .become .aware .of .new .businesses .and .new .products .and .brands; .through
. competition .which .is .enhanced .by .advertising, .some .companies .often .lower .the .prices .of .their
. products .in .other .make .more .sales .and .compete .with .others .in .the .market .and .also .many
. advertisements .often .contain .customer .care .number .of .links .to .company’s .websites .which
. consumers .can .contact .the .company .directly .with .questions .or .complaints .(Thorson .et .al., .2011).

Above .all, .advertisement .generates .more .jobs .in .companies .due .to .expanding .production .and
. sales; .because .of .the .highly .competitive .marketing .environment, .companies .are .constantly .trying
. to .come .up .with .new .products .with .creative .designs .and .improved .benefits .or .functions. .The
. emergence .and .use .of .these .new .products .often .lead .to .higher .quality .of .living; .many .media
. houses .especially .private .ones, .depend .entirely .or .almost .entirely .on .revenue .generated .from
. advertisements .(Bovee, .1992). .

From .the .foregoing .discussion, .it .can .be .deduced .that .Zambia .before .and .even .since .the .British
. Colonialist .of .our .country .has .been .engaged .in .international .trade. .Therefore, .this .has .helped
. Zambia .reduce .poverty .level .in .the .country, .create .more .job .opportunities, .promote .the .price
. entities .of .goods .and .services .etc. .However, .the .trading .transactions .to .run .smoothly, .the .banking
. institutions .play .an .important .role .international .trade. .Apart .from .granting .loans .and .overdrafts
. facilities, .there .are .still .other .roles .which .banks .could .play .in .international .trade .development .in
. Zambia. .These .roles .include .professional .advice, .opening .of .documentary .letters .of .credit .(L/CS),
. bills .for .collection .and .negotiation/open .account .and .bills .of .exchange, .foreign .exchange .example
. travelers .cheques .and .foreign .currencies, .information .on .trade .and .exchange .restrictions,
. collection .and .transfer .of .funds .status .enquires, .etc. .above .all .the .determination .of .the .actual
. external .funds .required .by .an .export/import .borrower. .They .accept .of .such .services .which .help
. international .trade . to grow .and .expand.

On .the .other .hand, .for .any .country, .to .better .carry .out .foreign .trade .business, .further .defining .the
. important, .Insurance .can .not .only .promote .the .development .of .international .trade .industry, .but

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. also .can .support .the .national .economic .development, .in .addition, .the .insurance .can .also . be
conducive .to .the .foreign .trade .departments .to .carry .out .the .work. .Furthernore, .countries .need .not
. only .to .produce .good .quality .products, .but .also .to .inform .consumers .about .their .benefits, .as .well
. as .to .achieve .clear .positioning .of .their .products .in .the .minds .of .the .consumers. .In .order .to .make .a
. new .product .to .succeed, .it .must .have .the .desired .parameters .for .consumers, .to .be .unique, .and
. consumers .should .have .the .information .about .its .characteristics. .To .do .this, .countries .need .to .use
. different .means .of .promotion .that .is .an .essential .part .of .a .series .of .the .marketing .activities, .a .kind
. of .information .output .to .the .consumer. .The .main .way .of .promoting .products .is .by .advertisement.

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 REFERENCES

Bovée, .C. .L. .(1992). .Contemporary .Advertising. .New .Jersey: .Lawrence .Erlbaum.

Belch, .E. .(2001). .Advertising .and .Promotion .an .Integrated .Marketing .Communications
. Perspective. .Sydney: .McGraw-Hill .Book .Company.

Chowdhury, .V. .(2011). .Advertisements: .Advantages .and .Disadvantages .of .Advertising. .London:
. Pitman .Publishing.

Das, .U. .S. .(2007). .Insurance .Services: .Development .and .Liberalisation .- .Some .Observations,
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. . D.C.:
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Dominick, .J. .(2013). .The .Dynamics .of .Mass .Communication. .New .York: .McGraw-Hill.

Foley, .C. .Fritz, .and .Kalina, .M. .(2015). .International .Trade, .Multinational .Activity, .and .Corporate
. Finance: .Annual .Review .of .Economics. .New .York:
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Huang, .T. .H. .(1982). .Insurance .Status .and .Role .in .International .Trade: .China .Finance, .New .Delhi:
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Lee, .M. .and .Johnson, .C. .(1999). .Principles .of .Advertising: .A .Global .Perspective. .New .York: .The
. Haworth .Press, .Inc.

Kindle .Berger, .C. .P. .(1962). .Foreign .Trade .and .the .National .Economy. .New .Haver: .Yale
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Olsen, .M. .(2016). .How .Firms .Overcome .Weak .International .Contract .Enforcement: .Repeated
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Phillips, .M., .and .Raspberry, .S. .(2008). .Marketing .without .Advertising: .Easy .ways .to .Build .a
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Thorson, .E., .and .Duffy, .M. .(2011). .Advertising: .The .Principles .of .Advertising .and .Marketing
. Communication .at .Work. .Stamford: .Cengage .Learning.

Van .Horen, .N. .(2007). .Foreign .Banking .in .Developing .Countries: .Origin .Matters. .New .York:
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WTO .(2011). .World .Trade .Report .2011. .Geneva: .UNCTAD.

Zhang, .Q. .(2015). .The .Role .of .Credit .Insurance .in .International .Trade. .China: .McGraw-Hill .Book
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