In today’s globalised world, a basic understanding of trade issues is a must. In his new book International Trade (Beijing University Press, September 2009), CEIBS Economics and Finance Professor Xu Bin draws from real life examples and uses analytic tools to present the topic in an accessible and engaging format.

Organized into three sections, International Trade explores the thinking behind major theoretical conclusions. The first section explains the basic theories of international trade, combined with recent breakthroughs in research. The second section introduces both traditional and new policy tools in international trade, and their effects. Section Three describes four special topics: the international flow of production factors; international outsourcing of production and services; macro-economic analysis of international trade; and the relationship between international trade and economic development.

As an entry-level teaching tool, International Trade uses diagrams and examples to facilitate readers’ understanding. The book also provides useful suggestions for further reading and key literature references. In addition, the tome offers 22 special columns outlining theoretical background information, historical events, typical cases, and discussions on hot topics.

Paul R. Krugman, the winner of the 2008 Nobel Prize for Economics, once said, “Regarding the study of International Economics, the most important knowledge that should be passed on to students during the introductory phase is that the basics still remain the same.” Prof Xu explained that International Trade was penned on the basis of two main principles: making the basics understandable, and showing students how to deduce important theoretical conclusions so that they may learn the prerequisites of the deduction process. As he writes in the book’s preface, “The most important part of teaching international trade is to cultivate students’ reflective ability on international trade issues, as well as teaching them how to extract the most crucial elements from complexities to make deductions and judgments.”