In 1960 to 1970 how goverment handle the problem of foreign exchange
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World Development
Volume 15, Issue 5, May 1987, Pages 645-655
Commodity problem: What next?
Author links open overlay panelDragoslavAvramovic∗
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https://doi.org/10.1016/0305-750X(87)90008-8Get rights and content
Abstract
Export commodity prices of developing countries are now at their lowest point since 1980–1981. International action to stem the decline in prices or provide sufficient compensatory finance has been limited, and no overall plan is under way to improve the situation. Under these circumstances the developing countries must fend for themselves, through expansion of their mutual trade with a minimum use of scarce convertible foreign exchange, and through improvement of their bargaining position in the world market, where feasible, through coordinated selling of their products. These actions call for: (1) an expansion of South-South compensable trade (“counter-trade”) and its better organization in order to reduce the excessive discounts and marketing margins which now prevail; (2) centralized selling in the world market at better prices of commodities for which the demand is price-inelastic (tropical beverages and to some degree metals); and (3) expansion of volume of sales at competitive prices of products which face substitution of synthetics or goods produced in developed countries, provided such expansion is profitable.
This paper discusses these alternatives and the potential problems which may continue to interfere with progress. The author concludes that the need for international cooperative action will grow pari passu with the need to cooperate in money and finance, which are in as much trouble as commodities and international trade.
Export
World Development
Volume 15, Issue 5, May 1987, Pages 645-655
Commodity problem: What next?
Author links open overlay panelDragoslavAvramovic∗
Show more
https://doi.org/10.1016/0305-750X(87)90008-8Get rights and content
Abstract
Export commodity prices of developing countries are now at their lowest point since 1980–1981. International action to stem the decline in prices or provide sufficient compensatory finance has been limited, and no overall plan is under way to improve the situation. Under these circumstances the developing countries must fend for themselves, through expansion of their mutual trade with a minimum use of scarce convertible foreign exchange, and through improvement of their bargaining position in the world market, where feasible, through coordinated selling of their products. These actions call for: (1) an expansion of South-South compensable trade (“counter-trade”) and its better organization in order to reduce the excessive discounts and marketing margins which now prevail; (2) centralized selling in the world market at better prices of commodities for which the demand is price-inelastic (tropical beverages and to some degree metals); and (3) expansion of volume of sales at competitive prices of products which face substitution of synthetics or goods produced in developed countries, provided such expansion is profitable.
This paper discusses these alternatives and the potential problems which may continue to interfere with progress. The author concludes that the need for international cooperative action will grow pari passu with the need to cooperate in money and finance, which are in as much trouble as commodities and international trade.
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They removed trade barriers for easier flow of goods
Due to fallowing reasons, the Government of India removed trade barriers
(i) India was lacing a serious/economic crisis because of slow economic growth, inefficient public enterprises, high inflation and rising fiscal defecit.
(ii) The Government of India decided that the time had come for Indian producers to compete with producers around the globe.
(iii) The decision to remove trade barriers was supported by powerful international organisations like IMF, WTO, etc.
(iv) Removing barriers or restrictions set by the government is known as liberalisation.
:) Hope this helps !!!!!
PLS SUPPORT SYRIANS LOOK AT THEIR DIFFICULTIES IN GOOGLE
LETS SUPPORT SYRIANS LET THE SUPPORT OF INDIA START FROM US
add the above statement in ur ques and ans
Due to fallowing reasons, the Government of India removed trade barriers
(i) India was lacing a serious/economic crisis because of slow economic growth, inefficient public enterprises, high inflation and rising fiscal defecit.
(ii) The Government of India decided that the time had come for Indian producers to compete with producers around the globe.
(iii) The decision to remove trade barriers was supported by powerful international organisations like IMF, WTO, etc.
(iv) Removing barriers or restrictions set by the government is known as liberalisation.
:) Hope this helps !!!!!
PLS SUPPORT SYRIANS LOOK AT THEIR DIFFICULTIES IN GOOGLE
LETS SUPPORT SYRIANS LET THE SUPPORT OF INDIA START FROM US
add the above statement in ur ques and ans
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