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Doubtful Sound Reconnect with nature Wilmot Pass
Doubtful Sound Beautiful in any weather Doubtful Sound Julian Apse
Doubtful Sound Wilderness Cruises Discover 'the place of silence' Doubtful Sound
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Discover the breath-taking, pristine wilderness scenery of Doubtful Sound, deep in the heart of Fiordland National Park.
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Immerse yourself in the vast and untouched wilderness of Doubtful Sound, the second largest fiord in Fiordland National Park.
With its rugged peaks, verdant rainforest and twisting, hidden inlets, Doubtful Sound will take your breath away. Home to abundant wildlife you may see bottlenose dolphins and fur seals at play, or catch a glimpse of a rare Fiordland Crested Penguin.
Getting to Doubtful Sound is an adventure in itself. With no direct road access, the only way you can to get to Doubtful Sound is by a cruise across Lake Manapouri and a coach trip over Wilmot Pass. This isolation makes the fiord a very special, private place, a place only those in the know get to see.
If you'd like to experience the pristine beauty of Doubtful Sound for yourself, join us for a Wilderness Day Cruise or better still, spend an unforgettable night on the fiord on our Fiordland Navigator Overnight Cruise. And if you prefer not to drive to Manapouri (where the trips depart), we can get you there by coach from Queenstown and Te Anau.
For a more intimate experience, join us on a kayaking adventure where you get to paddle or explore and camp overnight in Doubtful Sound.
About Doubtful Sound
There's no settlement here and no easy access. Cruise vessels and fishing boats ply the waters only seasonally. When you visit Doubtful Sound, it's unchanged, pristine nature is striking. You are witnessing the same spectacular scene that greeted early Maori and European visitors – the years have changed little, if anything, in this magnificent place.
The mood of the fiord is dominated by the weather – glorious and sparkling on a sunny day, tranquil and mysterious in the mist or dramatic and exciting in the wet as hundreds of waterfalls thunder into the sea.
This is an awesome place where you'll experience the raw power of nature. The sheer scale and beauty of the fiord makes for a profound experience for any holiday itinerary.
All our Doubtful Sound experiences start in Manapouri which is around 2.5 – 3 hours from Queenstown and 30 minutes from Te Anau.
You can drive there yourself or if you'd much rather relax and let us do the driving, we offer coach connections from Queenstown and Te Anau.
Our coach drivers for your Doubtful Sound tour are extremely knowledgeable about the area, its history and local flora and fauna and will provide you with commentary and information along the way.
Fiordland is one of the wettest places in the world with a mean annual rainfall of 6813mm (268 in). It rains for around 180 days of the year, with rainfall reaching 250mm (10 in) over a 24 hour period.
The temperature here can vary depending on the season and can go from an average high of around 19C in summer (Dec - Feb) to around 9.5C in winter (Jun - Aug).
As weather shapes this landscape, it'll also shape your experience of this pristine place. Glorious and breathtakingly beautiful on a sunny day, in the mist it's a magical fairyland of hidden peaks and twisting arms while in the rain, the power of nature is unleashed as walls of water thunder to the sea.
All year round, whatever the weather, a visit to Doubtful Sound is profound and unforgettable.
Dolphins playing in Doubtful Sound
Located deep in the heart of Fiordland, and almost inaccessible to humans, Doubtful Sound is within a temperate rainforest and home to a largely undisturbed wildlife.
The rainforest is an extravagance of green and incredibly dense with vines, perching plants, tree and ground ferns and podocarp trees. Home to a wonderful array of native birds, you'll hear their songs if you listen carefully.
The waters of the fiord are fascinating and home to an amazing array of sea-life because of a surface layer of dark fresh water that blocks sunlight. This layer is caused by the incredibly high annual rainfall which is darkly coloured by the tannins of the forest as it tumbles through a huge catchment area to the sea. This dark layer allows corals and undersea life to grow in waters much shallower than they normally would. Creatures of the southern oceans live here – there's a resident pod of dolphins and lots of fur seals. Others visit and you could glimpse Mollymawks and Royal Albatross, penguins, including the rare Fiordland Crested Penguin which breeds at Doubtful Sound or even a whale.
Two million years ago the glaciers of Fiordland were grinding their way towards the sea sculpting the landscape as they retreated and advanced.
In Maori legend, Doubtful Sound and the other Fiords were created by the godly figure Tu Te Raki Whanoa who split the rock with his adze allowing the sea to pour in creating safe harbours from the restless, often stormy sea.
The first European to discover the fiord was Captain Cook during his search for a 'great southern continent'. Visiting the mouth of Doubtful Sound in 1770 and unsure whether it navigable, he named it Doubtful Harbour. 23 years later, a visiting Spanish scientific expedition charted the entrance and lower parts of the sound.
In 1971, the Manapouri Hydro-Electric Power Station, New Zealand's largest hydroelectric facility, was completed on the western arm of the lake. Considered one of the country's greatest engineering feats, the power station uses the 230 metre drop between the lake and the sea (the Deep Cove arm of Doubtful Sound) to create electricity. The road over Wilmot Pass was created as part of the project and provides our access to the fiord.
PLEASE NOTE: Update as of October 2018: The Manapouri Underground Power Station is CLOSED due to ongoing maintenance work by Meridian Energy. Therefore Real Journeys has not been granted access and is unable to run tours. Re-opening date is yet to be confirmed. Next update October 2019.
Fiordland, one of the world's wettest regions. Most of the rain falls on the seaward side of the mountains.
Manapouri village receives 1,143mm a year but over in West Arm the rainfall rises to 3,786mm. Deep Cove receives 5,290mm per year.
Doubtful Sound reaches about 430m at its maximum depth. Near the entrance there are sills where the water is relatively shallow (90m).
The water temperature in the fiord averages a bracing 11 degrees Celsius.
Guest Imagery
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Ken Duckert
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Dirk Lindhout
Our people. Our places. Doubtful Sound, New Zealand. This video showcases the hard work and dedication of the people involved in creating our amazing experiences.
Doubtful Sound Overnight Cruise with Real Journeys. Your getaway starts with a short cruise across Lake Manapouri, then a coach across Wilmot Pass through dense rainforest where your crew and the Fiordland Navigator boat await.
Doubtful Sound Wilderness Cruise with Real Journeys. The vastness of this untouched world will take your breath away as you experience its spectacular beauty and scenery.
WHAT'S ON SPECIAL
If you are looking for some great deals, then you've come to the right place. Browse below to view all our specials.
Our ultimate guide will give you all the tips you need to plan that special holiday in the south island including Queenstown, Te Anau, Stewart Island and Milford and Doubtful Sounds.
How a Doubtful Sound Overnight Cruise will change your life
5 reasons Doubtful Sound should be on your bucket list
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831-HP Mercedes, Ram Van RV, Chip Crunch
Toyota mishandled this year's Tokyo Olympics after the carmaker and Olympic partner suspended its planned Olympics-related advertising in Japan after Japanese citizens angered that the Games were going ahead amid the pandemic. And now Toyota has a bookend stumbling block to the end of the Games: An autonomous shuttle operated in the Olympic Village during the Paralympic Games collided with a visually impaired athlete last week and injured it. Toyota briefly halted shuttle rides, but then resumed them with additional security personnel to prevent a repeat incident.
this week in sheetmetal
Audi showed off an elongated, almost teardrop-shaped electric sedan concept, also designed to showcase the possibilities of autonomous driving technologies of the future. The car, called the GrandSphere, will have 711 horsepower from a potted plant with two electric motors, a retractable steering wheel, and vents out behind the center console.
Winnebago has designed a wheelchair-accessible RV based on the Ram ProMaster van. The RV, called the Rome, is smaller than previous accessible RVs made by the company and may have an electric-powered sofa bed, wheelchair tie-downs, grab handles in the shower, and an under-carriage wheelchair lift.
Mercedes has provided more details about the next AMG GT63, which is set to be the first plug-in hybrid from Mercedes' performance sub-brand. The 2023 GT63 will have a combined 831 hp from a 4.0-liter V-8 and an electric motor on the rear axle. 2023 will mark the return of the Mercedes V-8 to the US market. The company dropped eight-cylinder engines from nearly all of its US lineup for 2022 due to supply chain constraints.
Subaru shared some new (short, upside down) teaser photos of its upcoming inaugural EV, the Solterra. The car will come with standard all-wheel drive, as fitted to Subaru, and will share its platform with the Toyota bZ4X. We expect it to go on sale next year.
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Microchip Shortage, Yet
Several automakers this week adjusted their third-quarter sales projections downward, as current microchip shortages cut production off demand. Ford said August sales were down 33 percent due to chip shortages. Mercedes said its third-quarter results would be "significantly lower" than second-quarter sales. Volvo said its sales were down 10.6 percent compared to last August, and said it expected slower sales during the second half of the year. General Motors announced more plant closures, and a Bloomberg report said chip shortages forced Tesla to idle its plants in China for several days last month.
Meanwhile, Hyundai is finding its way through the storm. The company says it has developed its own microchip for use in a vehicle that will launch in the second quarter of next year, probably the Ioniq 6 EV. Hyundai will use local (to Korea) suppliers to manufacture the chip and hopes this strategy will reduce competition and uncertainty related to microchip sourcing.
put on your seatbelt
The National Highway Transportation Safety Administration (NHTSA) reported a 10.5 percent reduction in traffic deaths in the first three months of 2021 compared to the first three months of 2020, despite a 2.1 percent decrease in the number of vehicle miles traveled compared to the previous year. percent increase has been recorded. The NHTSA attributes the increase in fatalities to an increase in risky behaviors such as speeding, poor driving and not wearing a seatbelt. Overall, traffic-related deaths in the US increased by 7.2 percent in 2020 to 38,680, even though Americans covered 13 percent fewer miles than in 2019. The NHTSA said an increase in risky behavior by drivers who enjoyed empty roads during the lockdown, or drivers thought police would stop during the height of the pandemic and not ticket them.
A representative for the Self-Driving Coalition said the NHTSA report was evidence of an urgent need for self-driving cars that "do not accelerate, decelerate, or deviate," but since truly autonomous driving technology has not yet been We'll stick with old-fashioned advice: Wear your seatbelt, and always remember that cars can kill you.
further studies
Remember when North Carolinians ranted about an increasingly popular car modification called the Carolina Squat? Well, now the squat is illegal (more or less).
read in new York Times About the various, sometimes disastrous, strategies companies are taking to extract lithium from Earth, a key element in electric-vehicle manufacturing.
Or read about the possible second life of the 1970 AMC AMX wall street journal.
Categories News Tags 831HP, chip, Crunch, Mercedes, Ram, Van


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Art lovers' delight at KCC
Emami Art is hosting three distinct exhibitions for the discerning art connoisseurs of the city. 'The Politics of Paper' features artworks b...
Emami Art is hosting three distinct exhibitions for the discerning art connoisseurs of the city. 'The Politics of Paper' features artworks by celebrated artists, curated by Ushmita Sahu, 'Essential Forms: An Exhibition of MF Husain's Cut-Outs' presented by Ina Puri, and 'Imprint : Riten Mozumdar' curated by Ushmita Sahu. All the exhibitions which started on February 12 will continue till March-April at the Kolkata Centre for Creativity.
"The Politics of Paper" is an exhibition that talks about engagements and explorations of Paper as a support, a material, a concept, a process, and/or other intellectual engagements from an individual, formal, historical, socio-cultural, political perspectives to name a few. It establishes a visual context of the expanding boundaries of language and approaches through several works by renowned artists like Adip Dutta, Anju Dodiya, Atul Dodiya, Chandra Bhattacharjee, Jagannath Panda, Jayashree Chakravarty, Mithu Sen, N S Harsha, Prasanta Sahu and TV Santhosh. The crux of the show highlights Paper's intrinsic relationship with our history, culture and politics for several millennia. It also highlights the ideas of accretion and transformation, thus turning the focus on material as social practice, where aptitudes, traditions, social spaces, etc. feed a range of strategies and ideological assumptions.
"The exhibition, the politics of paper, is a prominent highlight on our gallery calendar this year. It brings together the most influential contemporary artists working in India today, revealing the diversity of their practices. It is interesting to see how remarkably the artists have used paper, exploring its endless possibilities as a medium, material and concept," said Richa Agarwal, CEO, Emami Art.
"Essential Forms: An Exhibition of MF Husain's Cut-Outs" features startling two-dimensional cut-outs, bold silhouettes of beasts and humans created by the legendary artist using blocks of primary colours, having first cut out their shapes on plywood.
The subjects were inspired by the ancestral spirits of man, deity and beast in a sacred space. The stamping beast, a magnificent animal, is all black, almost primordial, as it stands frozen in time. Reminiscent of a rural landscape, the Krishna-like figure plays the flute riding atop a bull in another composition in a mood that is, in contrast, lyrical and gentle. There are also figures, of human shapes almost erotic, suspended in the air, limbs stretching out, strands of hair flying in the wind or caught in arabesques as if dancing to silent symphonies.
"Imprint: Riten Mozumdar" brings together a body of work that spans Mozumdar's entire career includes photographic materials, texts, lovingly researched and accessed material from various private collections across India, calligraphic paintings on silk, clothes, rugs and much more. Mozumdar was one of the most significant artist-designers of India's modernist design renaissance with an illustrious career spanning five decades which began as a student in Tagore's Santiniketan between 1946-50.


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Buck was now making 7, 8 or 9 movies a year – production was swift in those days. Buck had achieved Top Bill/Stardom – his name is often larger and posted before the movie title. He was the draw. – but not necessarily as a Western Star. A good portion of the 42 films he is received credits for in the 1920's were non-Westerns. In a lot of these films, Buck he was Billed as "Charles Jones" – and on at least a couple of occasions as "Charles 'Buck' Jones". I've posted a couple of these non-Western here ("Big Dan"/1923) just because the posters are so darn nice.
Not revealed as a Western … but I do see a cowboy galloping there … ?
1926 30 Below Zero Don Hathaway Jr.


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November 13, 2020 by James Chivers
Information about Devaluation in free legal resources:
Devaluation in US treaties.
Devaluation in UN treaties.
Devaluation in UN Treaty Series website.
Devaluation in OAS treaties and agreements.
Devaluation in EU treaties.
Devaluation in EU international agreements.
Devaluation in UK's treaty obligations.
Devaluation in documents of the UN.
Devaluation in World Bank documents.
Devaluation in UN International Law Commission (ILC) documents.
Devaluation in documents from the international criminal courts and the UN (PDF).
More about Devaluation in this legal plataforma.
Definitions about Devaluation in the law dictionaries.
Devaluation in EU legal acts.
Devaluation in EU consolidated texts.
Devaluation in IP national laws.
Devaluation in IP treaties.
Summary of Devaluation
Devaluation and International Trade Economy
Devaluation in International Trade
Concept of Devaluation
Hierarchical Display of Devaluation
Characteristics of Devaluation
Translation of Devaluation
Thesaurus of Devaluation
The official reduction of the value of a nation's money in relation to a standard (usually gold), special drawing rights, or the U.S. dollar. Inasmuch as all currencies are ultimately valued in terms of some standard, devaluation results in the conscious increase of the number of units of the affected currency required to equal a given unit of the standard. Until the demise of the Bretton Woods system of fixed exchange rates in 1971, most nations effectively denominated their currencies in terms of the U.S. dollar, which was itself tied to gold. More in the 1980s, efforts have been made to value individual national currencies to special drawing rights (read this and related legal terms for further details) as a neutral standard.
Under the articles of the international monetary FUND (read this and related legal terms for further details), no nation is supposed to officially devalue its currency until the IMF has addressed the problem; as a practical matter, there has been widespread deviation from this principle.
The term devaluation should not be confused with depreciation, which is a decline in the purchasing power of a currency.
See Bretton woods agreement.
(Main Author: William J. Miller)
In relation to international trade economy, Christopher Mark (1993) provided the following definition of Devaluation: The lowering of the value of a currency, relative to one or more other currencies, as a result of deliberate government action. Both depreciation and devaluation tend to boost demand for the country's exports by reducing their prices in .terms of foreign currencies, and to reduce domestic demand for imports by raising their prices in terms of the home currency. Devaluation can provide a short-term boost to an economy encountering balance of payments imbalances –by altering its price competitiveness –but generally has inflationary consequences.
Meaning of Devaluation, according to the Dictionary of International Trade (Global Negotiator): The reduction of a currency's value in relation to other currencies. The exchange values of freely traded currencies are determined by market action. However, governments that interfere with market action can manipulate the value of their currency by fiat. Devaluation tends to reduce domestic demand for imports in a country by rising prices in terms of the devalued currency and to raise foreign demand for the country's exports by reducing their prices in terms of foreign currencies. Devaluation can therefore help to correct a balance of payments deficit and sometimes provide a short-term basis for economic adjustment of a national economy.
An introductory definition of Devaluation is provided here: a government deliberately decides to lower the value of its currency relative to other currencies
Foregin Policy
Finance > Monetary economics > Monetary policy > Currency adjustment
See the dictionary definition of Devaluation.
Spanish: Devaluación
French: Dévaluation
German: Abwertung
Italian: Svalutazione
Portuguese: Desvalorização
Polish: Dewaluacja
Finance > Monetary economics > Monetary policy > Currency adjustment > Devaluation
Retail selling
Wholesale selling
Credit sale
Discount sale
Door-to-door selling
Duty-free sale
Auction sale
Price Discrimination Price Discrimination and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Price Discrimination: The practice of charging unequal prices to different buyers of products that are essentially identical, when such [...]...
Withdrawal Price A floor price at which European Economic Community producers of certain food products may withhold their goods from the market. The withdrawal price is generally below the base price (i.e., the target price set for a given commodity) and the purchase price at which EEC governments will intervene in ......
Constructed Price A value for customs purposes that ignores the invoice price of the merchandise but is derived by computing the cost inputs of the product (materials plus reasonable manufacturing expenses in the country of origin plus a profit factor), to which are added the normal costs associated with preparing th......
Market Power Market Power and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Power: The ability of an individual firm to exert control over prices prevailing in the markets for its products or services. The highest [...]...
Vertical Restraints Vertical Restraints and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Vertical Restraints: Anticompetitive restraint of trade arrangements imposed by a firm at one stage in a chain of transactions --usually [...]...
Entry Price Under the common agriculture POLICY (read this and related legal terms for further details) of the European Economic Community, the price at which certain imported agricultural products enter EEC commerce. If the entry p......
Ordinary Course Of Trade A concept routinely applied in customs valuation that holds that the dutiable value of goods is the price at which they would normally sell if customary channels of distribution were observed. For example, where it was industry practice for a product to be sold directly by a manufacturer to an end u......
Variable Levy Variable Levy and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Variable Levy: An import duty that is subject to alteration as world market prices change, designed to ensure that the [...]...
Spot Price The price of a commodity in the Spot Market (read this and related legal terms for further details), i.e., the price quoted for immediate sale and delivery. ......
Differentiation Differentiation and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Differentiation: A key element in firms' competitive advantage. Refers to market conditions in which a product can vary in some [...]...
Normal Price Within the scope of the Brussels Definition Of Value (read this and related legal terms for further details), the value basis upon which ad valorem duties will be assessed on imports. The normal price is the price the go......
Competitive Competitive and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitive: As applied to internationally traded goods, refers to a country's or a firm's products being preferred by a significant [...]...
Reference Price A mechanism of the Common Agricultural policy (read this and related legal terms for further details) of the European Economic Community designed to prevent disruptive import competition for certain vegetables, fruits, f......
Futures Contract Futures Contract and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Futures Contract: A contract for goods, foreign exchange, or financial assets to be delivered at a certain future date on terms and at [...]...
Transaction Value The primary method of valuing goods for customs purposes under the Customs Valuation Agreement (read this and related legal terms for further details).......
Export Subsidy Summary of Export Subsidy A direct payment, tax relief, or other incentive provided by a government to encourage export sales. The use of such devices is apt to be regarded as undesirable by the importing nation and may result in the imposition of Countervailing Duties (read this legal term [...]...
Free Market The economic system of a nation in which market forces determine which goods and services are produced, and at what price they are offered. Free market economies do not contain substantial government controls on resource availability, price levels, or central planning of economic objectives.......
Base Price As used in conjunction with the Common Agricultural Policy of the European Economic Community, a trigger price for specific commodities at which member states will intervene to support the market price of a commodity. Member states may respond to a decline in market prices below the base price by la......
Export Value Summary of Export Value The price at which a foreign manufacturer customarily freely offers for sale a given product for export to the United States in the usual wholesale quantities, less export discounts, packing, and costs of preparing the goods for export. The use of this value [...]...
Target Price An important concept within the common agricultural policy (read this and related legal terms for further details) of the European Economic Community. It represents an optimum wholesale price within the community for a g......
C.I.F. C.I.F. and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of C.I.F.: An abbreviation (for "costs, insurance, and freight") used in international trade statistics and sales contracts. Transactions on [...]...
Price Differentiation Price Differentiation in International Trade Meaning of Price Differentiation, according to the Dictionary of International Trade (Global Negotiator): Price strategy for international markets that allows each local subsidiary or partner (agent, distributor. etc.) to set a price that is [...]...
Gate Price The minimum price at which pork, poultry, and eggs werw permitted to enter the European Economic Community under the common AGRICULTURAL POLICY (read this and related legal terms for further details) without imposition o......
Market Disruption A condition in which foreign imports of a given product increase in quantity so rapidly as to cause, or threaten to cause, material injury to a competing domestic industry. A finding of market disruption before the International Trade Commission may result in retaliatory actions against the [...]...
Spot Market A market for commodities or currency in which the sale results in an immediate or nearly immediate exchange of the goods or instruments for cash, as compared with a futures market, which trades in contracts for the future delivery of the product.......
Fair Market Value The value an imported product would fetch, under similar circumstances of sale, were the goods sold in the country of origin. Customs authorities are usually interested in the fair market value of imported merchandise inasmuch as sales below such value may serve as the basis of a Dumping (...
Gross Domestic Product Summary of Gross Domestic Product The aggregate value, expressed in monetary terms, of all goods and services produced within a national economy during a given time period, usually one year.(Main Author: William J. Miller) Gross Domestic Product (gdp) (in the Human Development [...]...
Key Currency The currency of a major trading nation widely accepted in settlement of international accounts. At present, eight currencies are regarded as key currencies and are known as the Big Eight ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal [...]...
Market Performance Market Performance and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Performance: The principal focus of competition policy, market performance refers to the degree to which a particular industry or [...]...
Dumping Dumping in International Trade Meaning of Dumping, according to the Dictionary of International Trade (Global Negotiator): The practice of selling a product in a foreign market at an unfairly low price (a price that is lower than the cost in the home market, or which is lower than the cost of [...]...
Purchase Price Defined in 19 U.S.C. 162 as the price at which imported merchandise has been purchased, or will be purchased, prior to exportation. It is usually based on the ex factory price excluding any export duties levied in the country of manufacture. Within the framework of the European Economic Community ......
Common External Tariff Summary of Common External Tariff The uniform customs tariff applied by all the member states of a customs union or common market to imports from nonmember nations.(Main Author: William J. Miller) Common External Tariff and the GATT Policy Negotiations In relation to the GATT [...]...
Agio A premium paid in the process of exchanging one currency for another, or for a bill of exchange denominated in a foreign currency.......
Export Diversification Summary of Export Diversification The movement of a nation away from the export of a single or limited number of products as the principal source of foreign exchange earnings. Export diversification programs are usually the priority objectives of small or underdeveloped nations, [...]...
Trade Agreements Act Of 1979 An act of Congress implementing certain agreements negotiated under the Tokyo Round (read this and related legal terms for further details). The act replaced the Countervailing Duty Law and Antidumping Act of 1921 and ab......
Market Structure Market Structure and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Structure: Refers to the structure of an industry or market, as reflected in the number and size distribution of sellers and buyers, [...]...
Arm's Length Pricing Arm's Length Pricing and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Arm's Length Pricing: The price at which a particular product or service would sell in a transaction between unrelated buyers [...]...
Foreign Market Price For purposes of customs valuation comparisons, generally the price of like merchandise sold for consumption in the country of origin.......
Competitive Performance Competitive Performance and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitive Performance: The measurable results of competitiveness --i.e., the outcome of a country's or a firm's efforts in [...]...
Imperfect Competition Imperfect Competition and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Imperfect Competition: When an industry is marked by imperfect competition, market prices send "incorrect signals" regarding [...]...
Price Undertaking Price Undertaking and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Price Undertaking: An agreement by an exporting firm with the government of an " importing country to raise the [...]...
Forward Margin In foreign exchange transactions, the difference between the current, or "spot," price for a given currency and the price at some future date. If the "futures" price, that quoted by sellers of contracts for future purchase of that currency, is higher than the spot price, the subj......
Interbank Market A market for the purchase and sale in the spot and forward markets for foreign exchange among major commercial banks. Very often, these banks will offer to purchase or sell exchange through brokers, thereby initially protecting the identity of the market participants in a given currency at a point i......
Restitutions Export and producer subsidies granted by the European Economic Community to EEC farmers and processors. The subsidies are a feature of the Common Agricultural Policy (read this and related legal terms for further details......
Tying Contract Tying Contract and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Tying Contract: (Also known as a tie-in contract or bundling.) A restraint of trade ~ arrangement by which a product can be purchased only [...]...
Economic Vulnerability Economic Vulnerability and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economic Vulnerability: In the context of trade relations, the proportion of a country's GNP accounted for by exports and imports [...]...
Guest Currency The currency in which a Eurobond (read this and related legal terms for further details) or other financial obligation is issued. The currency is selected to be acceptable to both the foreign borrower and the lender, and......
Customs Classification Customs Classification and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Customs Classification: The determination of the appropriate category in which a traded product is classified for [...]...
Equilibrium Relative Price Of Currencies Synonymous with rate of exchange, i.e., the price, in terms of one national currency, at which another currency can be purchased under market conditions.......
Purchasing Power Parity An equal relationship of prices between two countries. Price levels in both countries are substantially the same, considering the rate of exchange.......
European Currency Unit (ECU) European Currency Unit (ECU) and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of European Currency Unit (ECU): A unit of value based on a "currency basket" comprising specific amounts of the [...]...
Predation Predation and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Predation: In international trade contexts, an aggressive pricing strategy in which a foreign producer prices below cost to drive domestic firms [...]...
Trade Balance J-Curve and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of J-Curve: The expected adjustment path in a country's trade balance following a currency depreciation or devaluation. Because a change in the [...]...
Current Account Purchases The value of intermediate products in the national production process. An intermediate product is a manufacturing input that has not been converted into a finished product; for example, steel is an intermediate product in the manufacture of an automobile. The value of current account purchases is im......
Brussels Definition Of Value A system for the valuation of imports for the application of ad valorem duties, adopted in 1953 following attempts to establish a European customs union. The European Customs Union Study Group submitted to the contracting states the Convention on the Valuation of Goods for Customs Purposes, along w......
Turnover Summary of Turnover The rate at which sales occur, relative to the capital employed. For example, if sales are one million dollars, and capital employed is one hundred thousand, the capital turnover is ten.(Main Author: William J. Miller) Turnover and International Trade Economy [...]...
Intervention Price The price at which the European Economic Community, in accordance with the Common Agricultural Policy (read this and related legal terms for further details), will intervene in the market to buy excess agricultural produ......
Tariff (Customs) A document issued by a nation's customs authority principally for the purpose of specifying rates of duty to be applied on various imported products. A tariff customarily also includes quantitative restrictions (quotas) upon certain imports, preferential duties on products imported from specifie......
Currency Risk The economic risk assumed by a lender or seller who is to be paid in units of a foreign currency that, when translated at some future date into his own currency, he will have sustained a loss (in terms of his own currency) because the foreign currency has depreciated in value prior to settlement of ......
Textiles Textiles and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Textiles: Historically, one of t e most politically sensitive and contentious sectors of international trade. As define in the Multifiber [...]...
Economic Rent Economic Rent and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economic Rent: The gain to a producer or resource owner resulting from a trade barrier or other restriction of supply that leads to a higher [...]...
F.O.B. F.O.B. and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of F.O.B.: An abbreviation (for "free on board") used in international trade statistics and sales contracts; a method of valuing traded goods [...]...
TSUSA TSUSA and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of TSUSA (Tariff Schedules of the United States, Annotated): The classification system in which US import data are recorded according to 10,500 [...]...
Quota Rents Quota Rents and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Quota Rents: The increase in profits that accrue to an import dealer (under an import quota) or an exporting firm (under an export quota or [...]...
Economic Integration Summary of Economic Integration The process of unifying two or more national economies through conscious coordination of trade, fiscal, and monetary activities. Economic integration is normally preceded by the reduction or abolition of tariffs, quotas, and similar constraints upon trade [...]...
Ethnocentric Pricing The policy of a firm to offer its products at the same price abroad as in the home market, irrespective of price sensitivity or other factors of the foreign market.......
Zone Restricted Status A condition accorded to goods entered into a Foreign Trade Zone (read this and related legal terms for further details) solely for destruction or exportation to another country. These goods may not be manipulated or proc......
Terms of Sale Terms of Sale in International Trade Meaning of Terms of Sale, according to the Dictionary of International Trade (Global Negotiator): This expression refers to the price quotation for a specific product. It states the price for the product as a specified delivery location, sets the time of [...]...
Balance of Payments Balance Of Payments Summary of Balance Of Payments The sum owed to or by a nation as the result of its international transactions during a given time period, usually one year. The balance of payments is calculated by subtracting the nation's total payments to foreigners from total [...]...
Protectionism Protectionism Definition Protectionism may be defined as government policies that favor domestic products over imported goods. The debate between protectionism and free trade has been a continuing issue in United States politics. Meanings For information on: * systematic protectionism [...]...
Terms of Trade Summary of Terms of Trade An export-import price ratio derived by dividing indices of export prices by indices of import prices. For example, when export indices are 105 percent of a base period, and import indices are 98 percent of the same base period, then the terms of trade [...]...
Free Trade Introduction Free Trade, interchange of commodities across political frontiers without restrictions such as tariffs, quotas, or foreign exchange controls. This economic policy contrasts with protectionist policies that use such restrictions to protect or stimulate domestic industries. See [...]...
Deflation Summary of Deflation A decline in the general level of prices, attributable to excessive savings or other factors that have reduced consumption relative to the supply of goods available. Very often, deflation is reflected during the decline phase of the business cycle. There has been no [...]...
Barter Summary of Barter A direct exchange of products without cash. In some cases, a third party is brought into the transaction to dispose of some or all of the goods in a third country; this practice is known as switch trading. See Countertrade.(Main Author: William J. Miller) Barter [...]...
Cabotage Summary of Cabotage Literally, coastwise navigation, generally used to denote the proscription of foreign flag vessels in a nation's coastwise trade. Since an act of Congress in 1817 (2 Stat. 351), the coastwise trade of the United States has been reserved exclusively to American [...]...
Capital Account Entries in a nation's balance of payment accounts reflecting long- or shortterm loans made to other countries, or by other countries to the recording nation. See Balance of Payments.......
Cartel Summary of Cartel An alliance among firms in the same line of business aimed at controlling or dominating their field on an international basis.(Main Author: William J. Miller) Definition of Cartel In accordance with the work A Dictionary of Law, this is a description of Cartel : [...]...
Commodity Summary of Commodity A nondifferentiated product produced with commonly available technology.(Main Author: William J. Miller) The Legal History of Commodity in Islamic Law This section provides an overview of Commodity in Islamic Law Commodity in International Trade Meaning of [...]...
Convertibility Summary of Convertibility The ability of a currency to be exchanged for other currencies in settlement of current account transactions. Currencies are convertible in varying degrees, although the ability of nonresidents freely to purchase and sell a given currency, without governmental [...]...
Current Account Summary of Current Account An entry in a nation's balance of payments accounts reflecting the purchase of goods or services for consumption immediately or in the near future. See Balance of Payments.(Main Author: William J. Miller) Current Account and International Trade [...]...
Defensive Investment An investment undertaken to protect larger commercial interests rather than for the return that the investment itself generates.......
Delivery Summary of Delivery The act whereby the owner of a vessel gives operational control over to the charterer.(Main Author: William J. Miller) In the United States For information about Delivery in the context of international trade, click here Delivery in International Trade Meaning [...]...
GATT Accession GATT Accession Summary of GATT Detais can be found in General Agreement on Tariffs and Trade). Accession Process The process was described by Christopher Mark in 1993: "Joining the GENERAL AGREEMENT ON TARIFFS AND TRADE is rarely a simple or straightforward matter --especially if the [...]...
Import Substitution Summary of Import Substitution The act of eliminating imports of a given product by commencing production locally, often accompanied by controls such as increased duties, quotas, or outright bans to discourage or prevent continued foreign imports. This approach is fairly common on the part [...]...
Joint Venture Summary of Joint Venture A business enterprise with more than one equity participant; for example, an agreement between a German firm and a U.S. firm to capitalize jointly a new factory in Venezuela. Many countries impose restrictions on joint ventures; these restrictions may take the form [...]...
Oligopoly Summary of Oligopoly Literally, a market in which there are only a few sellers of a given product or service. Under oligopolistic conditions, no one seller can establish market prices, except in concert with the other suppliers; if such concerted action develops, the suppliers are operating [...]...
Patent Summary of Patent A grant issued by a governmental authority to an inventor permitting, for a fixed number of years, an exclusive right to the invention. The grant includes the prerogative of preventing others from making, using, or selling the invention covered. Through various [...]...
Portfolio Investment A minority interest in a foreign venture from which income is derived in the form of dividends; normally such an interest does not convey any significant control over the management or operations of the foreign firm.......
Trade Barrier Summary of Trade Barrier Constraints upon the exchange of goods among nations imposed by governments; such constraints are manifested in the form of tariffs, quotas, exchange controls, and a variety of so-called nontariff barriers. Barriers usually arise to protect domestic industries, [...]...
Trademark A device, symbol, or word used by a firm to distinguish its products from those of other manufacturers. The object of trademarks is to permit brand identification of products, which may permit a more ready market acceptance of current and new products. Trademarks are protected in the United [...]...
Trading Company A firm engaged in the purchase, distribution, and marketing of products in international trade. Generally, the trading company deals with products of unrelated firms as well as the manufacturers of joint ventures in which it is involved.......
Customs Legal Issues Customs were the original form of international commercial law. As we have seen in the history of lex mercatoria, the customs existed before any statute of commercial law was made and were often the basis for legislation.(1) Customs in International Trade Meaning of Customs, [...]...
Depreciation Other Popular Tax Definitions in the World Legal Encyclopedia Adjusted Gross Income (sometimes, including Depreciation) "https://lawin.org/Ad-valorem-tax/" target="_blank"......
Comparative Advantage Revealed Comparative Advantage and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Revealed Comparative Advantage: A measure of relative competitive performance of a country's exporters of a particular [...]...
Administered Pricing A condition in which the prices of certain goods and/or services are determined by governmental authority, supplier cartels (legal or illegal), or trade associations, and not by market forces. The purpose of administered pricing is to eliminate price competition or to maintain price stability [...]...
Allocation Cartel An agreement among firms in a particular industry by which each participant is assigned certain customers or areas within which it will be the exclusive or principal supplier.......
Antitrust Summary of Antitrust Legislation or public policies opposed to the monopolization or domination of a particular product or industry by one firm or a group of firms acting in concert. The object of antitrust laws is to preserve market competition. In the United States violation of the [...]...
Arbitrage Summary of Arbitrage The practice whereby foreign exchange or commodities are purchased in one market at lower cost and rapidly traded off in another, higher cost market. For example, if the pound sterling sells for $1.50 in Paris, but only $1.45 in New York, an arbitrageur could buy [...]...
Complementary Exporting An arrangement in which a manufacturer markets his products internationally through the distribution channel of another firm, usually a manufacturer of similar but noncompetitive products.......
Consortium Summary of Consortium A multiparty commercial undertaking, differing from a joint venture by virtue of the comparatively large number of participants.(Main Author: William J. Miller) Consortium and International Trade Economy In relation to international trade economy, [...]...
Conventional International Law International law that has arisen as the product of treaties or formal agreements among nations, as compared with international law that has developed through custom and usage over time.......
Cross-licensing An arrangement in which one firm grants to another licenses to exploit proprietary rights in its patents or trademarks, secret processes, et cetera, in return for similar licensure to use the rights or processes of the recipient firm.......
Cutthroat Competition A discriminatory pricing practice whereby one vendor deliberately reduces prices to a low level with the object of driving out competition, thereby creating a monopoly or dominant market share. In the United States such practices are banned, although they are often employed in foreign countries.......
Dead Freight A payment made by a charterer to the owner of a vessel as compensation for stowing the ship to less than its capacity. The charterer is bound to ship a "full and complete cargo"; since freight is payable only on the cargo actually shipped, failure to deliver a full load deprives the [...]...
Delivery Order Written instructions issued by the owner of goods or his authorized agent to the holder of such goods directing that the merchandise be released or shipped to a specified party.......
Devanning Synonymous with stripping or unloading a container or trailer.......
Developed Countries Summary of Developed Countries A generalized grouping of the industrialized nations. Customarily, the term is applied to those nations that are members of the organization for economic cooperation And Development (read this and related legal terms for further details) plus the [...]...
Discrimination Summary of Discrimination Unequal treatment in the duties, quotas, or administrative controls accorded to the products of one or more nations. Generally speaking, any nation which does not enjoy most FAVORED NATION (read this and related legal terms for further details) status is the subject [...]...
Entente Literally, "an agreement." In political usage, an understanding among governments as represented by accords on important areas. Commercially, the term is used on the Continent as a synonym for a cartel.......
Export Management Company A private company that serves as the export department of other firms, usually small- and medium-size manufacturers. An EMC will provide a variety of services for its clients, to include locating customers abroad, arranging transportation and financing for the merchandise, developing foreign [...]...
Gold Standard Summary of Gold Standard A system under which a nation's currency is freely convertible into gold. The quantity of gold per unit of currency is fixed by law. Most major trading nations, however, abandoned the gold standard because of the constraints it imposes upon liquidity, although [...]...
Horizontal Integration Summary of Horizontal Integration Also known as horizontal expansion, the expansion of a firm through the acquisition of additional production capacity in its primary field. For example, a shipping company may expand horizontally by acquiring other vessels on the same trade route.(Main [...]...
Invisibles Synonymous with Invisible Exports And Imports (read this and related legal terms for further details).......
Laissez-faire Laissez Faire Summary of Laissez Faire A doctrine that government should refrain from any form of trade regulation, leaving productivity and distribution of wealth purely to market forces and individual industry. The concept arose around the beginning of the eighteenth century in France, [...]...
Price Supports A program of governmental action designed to stabilize or lift the price that producers receive for their products. These actions may include direct cash payments, government purchase of output to force up market prices, or special financing. Such supports are most commonly applied to agriculture.......
Repatriation Summary of Repatriation The transfer of investment proceeds or the return of capital from a foreign country back to the home country of the investor.(Main Author: William J. Miller) Repatriation and International Trade Economy In relation to international trade economy, [...]...
Soft Currency A national currency that, because of exchange controls, is not freely convertible into gold or other currencies. Such controls are usually manifest in officially set rates of exchange that do not reflect the price of the soft currency, were it permitted to trade freely.......
Specialization Agreement Also known as a rationalization agreement, an arrangement among competing manufacturers of like products that each will sell only certain products, thereby providing each participant in the agreement a dominant position for a given product.......
Standardized Product A product marketed worldwide without substantial variation in the product's composition or appearance. Product standardization helps in achieving significant economies of scale. See differentiated product.......
Categories Commercial law, D, International law, su1 Tags Currency adjustment, DE, Finance, Foregin Policy, Foreign Affairs, International Commercial Law, International Economy, International Trade, International Trade Economy, Monetary economics, Monetary policy, Public Finance
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