The third world and the CMEA Group in the world economy of raw and basic materials |
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| Institution: | 1. School of Zijin Mining, Fuzhou University, Fuzhou, Fujian 350108, China;2. Faculty of Land and Resource Engineering, Kunming University of Science and Technology, Kunming, Yunnan 650093, China;1. State Key Laboratory of Hydraulic Engineering Simulation and Safety, Tianjin University, Tianjin 300072, China;2. School of Civil Engineering, Tianjin University, Tianjin 300072, China;3. School of Water Conservancy Engineering, Zhengzhou University, Zhengzhou, 450001, China;1. Department of Materials Science and Engineering, Massachusetts Institute of Technology, Cambridge, MA 02139, United States;2. INRS Énergie Matériaux Télécommunications, 1650 Lionel-Boulet, Varennes, Québec, Canada J3X 1S2 |
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| Abstract: | This article traces the evolution of international trade flows in raw and basic materials in order to draw some conclusions about such issues as comparative advantage, dependence and interdependence, self-sufficiency, etc. It looks particularly at the relationships among various categories of developing countries and the CMEA countries. The first part of the discussion concludes that any argument that developing countries may be increasing their bargaining power in commodity markets is illusory. The author argues that the oversupply of raw materials in the world market and the consequent depressed prices will continue indefinitely. He concludes with some consideration of the future options for CMEA raw materials export policy in light of the broader prospects and policies of the OECD and developing country groups. |
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