Economy of China

China's market economy is the world's largest economy by nominal Gross Domestic Product (GDP) and Purchasing Power Parity (PPP) according to the IMF. Until 2015 China was the world's fastest-growing major economy, with growth rates averaging 10% over 30 years.

Incoterms

Allocations of costs to buyer/ seller according to Incoterms 2010

The International Commercial Terms (Incoterms) are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC). They are widely used in International commercial transactions or procurement processes. A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the transportation and delivery of goods. First published in 1936, the Incoterms rules have been periodically updated, with the eighth version of Incoterms 2010, which published on January 1, 2011.

International Trade

The Silk Road

International trade is the exchange of capital, goods, and services across international borders or territories, which could involve the activities of the government and individual. It represents a significant share of gross domestic product (GDP) and has been present throughout history (e.g. The Silk Road).