Imagine if all international trade, instead of being denominated in US currency, used clearing houses which administer an elaborate system of complex barter transactions in which proposed trades are organised according to public/national interest through an elaborate ranking system, with the primary aim being to maintain a balance of trade between every country and its trade partners over each 10 year period. In a system like this, trades would be lumped together into complex barter transactions based on their priority ranking and other practical considerations with each end of these barter transactions monetarised by placing goods received with domestic buyers so that exporters can be paid out in their domestic currency. Basically it would be a massive, organised system of set-offs. It would of course be cumbersome, bureaucratic and inefficient from a purely transactional point of view, but why shouldnt it be? Why should individuals or corporations, as a matter of right, be entitled to seek profit and satisfy their ambitions by importing rubbish or exporting commodities/resources at depressed prices with all that entails for a countrys economy and balance of payments? How can anyone believe that the existing system of international trade dominated by the Atlantic World is in any way open or fair?
Posted on: Tue, 02 Dec 2014 11:44:38 +0000
Trending Topics
Recently Viewed Topics
© 2015