The price basis which the Socialist countries employ in their foreign trade depends on the type of their partner country. In their trade with capitalist nations, normally current capitalist world market prices are adhered to. In actual transactions their export or import prices may naturally be lower or higher, reflecting their bargaining power and the terms of the trade contracts. The question of the prices used in trade amongst the Socialist countries, especially those belonging to the Council for Mutual Economic Assistance (CMEA or Comecon), is more complex.
KeywordsForeign Trade Foreign Market Socialist Country Domestic Prex External Trade
Unable to display preview. Download preview PDF.