The world market and its main features. World market and world economy. International Economic Organizations The external sign of the existence of the world market is

16.04.2020

The main external sign of the existence of the world market is the movement of goods and services between countries. International trade (international trade) - the sphere of international commodity-money relations, which is a set of foreign trade of all countries of the world.

In relation to one country, the term "foreign trade of the state" is usually used, in relation to the trade of two countries among themselves - "interstate, mutual, bilateral trade", and in relation to the trade of all countries with each other - "international or world trade". Often, international trade is understood as trade not only in goods, but also in services. Services are also goods, but often they do not have a materialized form and differ from goods in a number of parameters, which will be discussed below. International trade consists of two counter flows of goods - exports and imports and is characterized by a trade balance and trade turnover. Export - the sale of goods, providing for its export abroad. Import - the purchase of goods, providing for its import from abroad. The trade balance is the difference between the value of exports and imports. Trade turnover - the sum of the cost volumes of exports and imports.

According to the internationally accepted standards of international trade statistics, the key element for recognizing international trade, the sale of goods as export, and the purchase as import, is the fact that the goods cross the customs border of the state and record this in the relevant customs reporting. At the same time, whether the product of the owner changes or not - it does not matter. For example, if a computer is sold (but in fact, transferred) by the American division of IBM to its Russian division, it is considered a US export and a Russian import, even though the American company IBM remains the owner of the goods. In the theory of the balance of payments, on the contrary, the change of ownership of the goods is decisive, and the sale of Russian raw materials to a subsidiary of an American enterprise located in Russia will be considered Russian exports, although the raw materials did not cross the border.

Export and import are two key concepts characterizing the international movement of goods, which are used for a comprehensive analysis of international trade and for practical purposes. The trade balance and turnover, as their derivatives, have a narrower analytical and practical value and are used less frequently.

The most common type of transactions such as the sale of goods is the usual trade between counterparties of different countries, i.e. foreign trade, which consists of export and import operations. At the same time, export operations are understood as the sale and export of goods abroad to transfer it to the ownership of a foreign partner. On the contrary, import operations involve the purchase and import of foreign goods for their subsequent sale in the domestic market of their country. Export-import operations can be both direct and indirect, i.e. carried out both by the owners of the goods themselves and by intermediaries. The role of the latter can be brokers, dealers, commission agents, consignees, wholesale buyers, industrial agents. Intermediaries take on numerous functions for the sale of goods. For example, they can search for foreign partners, prepare documents and complete a transaction, transport and forwarding operations, credit and financial services and insurance of goods, after-sales service, market research, advertising, customs formalities and other activities.

In addition to export-import operations in the practice of international economic relations, such special forms of foreign trade as bidding, auctions and exchanges are also used to sell goods.

A variety of export-import operations are re-export and re-import operations. Re-export is the export abroad of previously imported this country goods that have not undergone any processing in it. Re-export operations are possible in a variety of situations. First, re-export arises as a natural continuation of the trading operation. The seller imports the goods into the country for sale on the exchange or auction, but it can be sold to the buyer from a third country and exported. Secondly, re-export may appear due to a break in the normal course of the sale of goods. If the seller sent the goods to the buyer, but the latter, for some reason, cannot pay for it, then he seeks to resell the goods to another buyer in this country or in a third country. The departure of goods to a third country is re-export. This is a forced re-export. Thirdly, it is also possible to perform a re-export operation without prior importation of goods from abroad, since they can be sent to a new buyer, bypassing the re-export country. trading firms many major countries often resort to operations for the resale of goods, using for profit the difference in prices for the same product. In addition to firms engaged in net re-exports, the country also benefits from the transportation of re-exported goods carried out with the help of its vehicles, from insurance, credit and other intermediary operations. And, finally, fourthly, re-export operations also arise during the construction of large facilities with the help of foreign firms. Practice shows that a foreign supplier often purchases certain types materials and equipment in third countries and sends them to the construction site without being brought into the country of re-export. Re-export operations without importation into the country of re-export, in fact, are not exports of this country, but they are taken into account by customs statistics and therefore belong to the class of re-export operations.

Re-exported goods are generally not processed. However, minor work can be done that does not change the name of the product: changing packaging, applying special markings, supplying cans with keys, etc. But if the cost of additional processing of the product exceeded half of its export price, then according to trade practice, the product changes its name and is no longer considered re-export, and operations for its sale become export. For example, many Russian non-ferrous metallurgical corporations currently work on tolling, that is, they process imported ore into metal. Since the process of smelting non-ferrous metals is very energy-, water- and labor-intensive, it is not the metal itself that is exported, but cheap domestic electricity and other resources.

As for re-import operations, their existence is associated with the import from abroad of previously exported domestic goods that have not been processed there. They can be products that could not be sold at auctions, returned from a consignment warehouse, rejected by the buyer, and others.

Along with the usual export-import transactions for the sale of goods, each of which ends with the receipt or payment of a sum of money for an export or import product, so-called barter transactions or counter-compensatory trade are widely used in the practice of international economic relations. Countertrade includes transactions for the sale of goods, when there are counter obligations of exporters to purchase products from importers for a part or the full value of the exported goods. The whole variety of counter transactions, depending on the organizational and legal basis or the principle of compensation, can be divided into three groups: barter transactions on a non-currency basis, trade compensation transactions on a monetary basis and industrial compensation transactions.

The nominal value of international trade is usually expressed in US dollars at current prices and is therefore highly dependent on the dynamics of the dollar exchange rate against other currencies. The real volume of international trade is the nominal volume converted into constant prices using the chosen deflator. In general, the nominal value of international trade has a general upward trend (Table 1).

Table 1 - VOLUME OF INTERNATIONAL TRADE (in billion dollars) 1991 1996 2001 World: exports 3485 5213 6485 imports 3598 5263 6315 Industrialized countries: exports 2458 3169 3666 imports 2537 2957 3502

Developing countries: exports 986 1790 2363 imports 1033 2066 2567 In a broader sense, exports and imports can include not only the international movement of goods, but also factors of production with international mobility (capital, labor). For example, the supply of equipment to Russia for an enterprise owned by a West German firm can be regarded as both an import of goods and an import of capital. The participation of Russian specialists in the operation of a metallurgical plant in India can be considered an export of goods (services for maintenance) or the export of labor (labor).

The pace of development of foreign trade is different between different groups of countries. The growth rates of the foreign trade of developing countries consistently exceeded the growth rates of trade of developed countries throughout most of the 1990s (Table 2). High rates of development of international trade reflect global trends of deepening the division of labor, specialization and cooperation of production.

Table 2 - GROWTH RATES OF FOREIGN TRADE FOR SELECTED GROUPS OF COUNTRIES (in

%) 1991 1992 1993 1994 Exports Industrialized countries Developing countries 2.8 4.2 1.5 8.6 7.1 9.6 9.0 10.4 Imports Industrialized countries Developing countries 2, 3 4.3 1.5 10.3 9.9 12.4 10.4 8.8 The main volume of international trade falls on developed countries, although their share slightly decreased in the first half of the 1990s due to the growth in the share of developing countries and countries with economies in transition. The main growth in the share of developing countries occurred due to the rapidly developing newly industrialized countries of Southeast Asia (Korea, Singapore, Hong Kong) and some Latin American countries. The largest world exporters in 1994 (in billion dollars) - USA (512), Germany (420), Japan (395), France (328). Among developing countries largest exporters the next are Hong Kong (151), Singapore (96), Korea (96), Malaysia (58), Thailand (42). Among the countries with economies in transition, the largest exporters are China (120), Russia (63), Poland (17), Czech Republic (13), Hungary (11). In most cases, the largest exporters are also the largest importers in the world market. The most significant trend is the growth in the share of trade in manufacturing products, which accounted for about 3/4 of the value of world exports by the mid-1990s, and the reduction in the share of raw materials and foodstuffs, which accounted for about 1/4 (Table 3).

Table 3 - WORLD EXPORT Commodities 1983 1998 Agricultural products 14.6 12.0

Foodstuffs 11.1 9.5 Agricultural raw materials 3.5 2.5 Extractive industry products 24.3 11.9 Ores, minerals and ferrous metals 3.8 3.1 Fuels 20.5 8.8 Industrial goods 57.3 73.3 Equipment and vehicles 28.8 37.8 Chemical products 7.4 9.0 Semi-finished products 6.4 7.5 Textiles and clothing 4.9 6.9 Iron and steel 3.4 3.0 Other finished goods 6.3 9.2 Other goods 3.8 2.8 This trend is typical for both developed and developing countries and is a consequence of the introduction of resource-saving and energy-saving technologies. The most significant group of goods within the manufacturing industry are equipment and vehicles (up to half of the export of goods in this group), as well as other industrial goods - chemical products, ferrous and non-ferrous metals, textiles. Within the framework of raw materials and food products the largest commodity flows are food and beverages, mineral fuels and other raw materials, excluding fuel. The growth rate of international trade consistently exceeds the growth rate of world industrial production; the growth rate of international trade of developing countries is on average higher than the growth rate of international trade of developed countries. Industrialized countries account for about 2/3 of world exports by value, while developing countries, including countries with economies in transition, account for about 1/3 of world exports. In the commodity structure of world exports, more than 2/3 are products of the manufacturing industry, and its specific gravity increases, and about 1 / 3 - for raw materials and food products.

Table 4 - Dynamics trade balance Russia in % 1990 1996 1999 1. Machinery, equipment and transport. goods 17.6 7.8 7.1 export import 44.3 37.0 41.9 2. Mineral products 45.5 46.9 50.4 export import 2.9 3.8 2.5 3. Metals , drag. stones and products from them 12.9 26.4 27.8 export import 5.4 6.1 - 4. Chemical products. industry 4.6 8.1 8.2 export import 10.9 15.6 16.1 5. Timber and pulp and paper products 4.4 4.3 - export import 1.1 4.3 - 6. Textile and textile products 1,0 0,9 -

export import 9.3 4.3 3.0 7. Raw hides, furs and products from them export 0.2 0.5 - import 1.0 0.4 - 8. Food products and agricultural. raw materials export 2.1 3.7 - import 20.3 24.5 24.3 9. Other goods export 11.8 1.4 0.5 import 4.8 4.0 2.1 In 2000 foreign trade turnover Russia increased by 32% compared to the previous year (in 1999 it decreased by 16.7%), exports grew by almost 44% (a decrease of 2.2%), imports - by about 11% (a decrease of 34.7%). The positive trade balance exceeded 60 billion dollars, foreign exchange reserves approached 30 billion dollars. In 2000, compared with 1999, Russia's foreign trade turnover with non-CIS countries increased by 31%, with the CIS countries - by 28%. The share of the CIS countries in Russian exports decreased to 14% against 16% in 1999, and increased to 30% in imports against 27%.

The main factor in the increase in the value of exports was the increase in world prices for oil and other major export goods(for oil - 1.4 times, for gas - 1.6 times). Both Russia's specialization in the export of raw materials and the dependence of its economy on exports have intensified. About 75% of the export volume fell on the products of the fuel and energy complex and metallurgy. Export of raw materials amounted to approximately 35% of GDP, all exports - about 40%. Such ratios are typical for a developing country, whose economy is completely dependent on income received from the supply of raw materials to the external market. This is the position Russia is in. This was clearly manifested during the industrial recovery in 2000, which was based mainly on the growth of foreign exchange earnings from energy exports. The fall in oil prices at the end of the year opened up the prospect of an economic downturn for the country.

outdated park industrial equipment does not leave hope that in the near future Russia will be able not only to expand, but even to restore its former, rather modest positions as an exporter of engineering products and other industrial products high degree of processing. All the more urgent is the need for structural restructuring of the country's economy, without which it is difficult to claim a more advantageous position in the world market. In 2000, industrial growth and a sharp increase in foreign exchange earnings gave a good chance for this.

At the same time, it should be borne in mind that in 2000 trade and political obstacles to the development of exports remained. Almost all significant Russian exports are subject to restrictive measures abroad, with the exception of energy resources: ferrous and non-ferrous metals, fertilizers, chemical products, nuclear materials, textiles, etc. Often, anti-dumping investigations are resorted to without evidence. However, while investigations are ongoing (and they continue for months), our exporters are forced to refrain from deliveries. After all, if the fact of dumping is recognized, they can be fined, the amount of which is several times higher than the cost of the goods sold. As a rule, such investigations end in the dismissal of charges, however, during this time, importers have time to switch to other suppliers and Russian enterprises lose the market. The positions of domestic exporters in such circumstances are significantly weakened by the protracted transition to the international system accounting and the slow displacement of snowy forms of payment from domestic trade.

The main external sign of the existence of the world market is

movement of goods and services between countries. international trade(international trade) - the sphere of international commodity-money relations, which is a set of foreign trade of all countries of the world. In relation to one country, the term "foreign trade of the state" is usually used, in relation to the trade of two countries among themselves - "interstate, mutual, bilateral trade", and in relation to the trade of all countries with each other - "international or world trade".

Often, international trade is understood as trade not only in goods, but also in services. Services are also goods, but often they do not have a materialized form and differ from goods in a number of parameters, which will be discussed below.

International trade consists of two counter flows of goods - exports and imports and is characterized by a trade balance and trade turnover.

Export - sale of goods, providing for its export abroad. Import- the purchase of goods, providing for its import from abroad. trade balance- the difference between the value of exports and imports. Trade turnover- the sum of the cost volumes of exports and imports.

According to the internationally accepted standards of international trade statistics, the key element for recognizing international trade, the sale of goods as export, and the purchase as import, is the fact that the goods cross the customs border of the state and record this in the relevant customs reporting. At the same time, whether the product of the owner changes or not - it does not matter. For example, if a computer is sold (and, in fact, transferred) by an American division of IBM to its Russian division, it is considered a US export and a Russian import, even though the American company IBM remains the owner of the goods. In the theory of the balance of payments, on the contrary, the change of ownership of the goods is decisive, and the sale of Russian raw materials to a subsidiary of an American enterprise located in Russia will be considered Russian exports, although the raw materials did not cross the border.

Export and import are two key concepts that characterize the international movement of goods, which are used for a comprehensive analysis of international trade and for practical purposes. The trade balance and turnover, as their derivatives, have a narrower analytical and practical value and are used less frequently.

The most common type of transactions such as the sale of goods is the usual trade between counterparties of different countries, i.e. foreign trade, which consists of export and import operations. At the same time, export operations are understood as the sale and export of goods abroad to transfer it to the ownership of a foreign partner. On the contrary, import operations involve the purchase and import of foreign goods for their subsequent sale in the domestic market of their country. Export-import operations can be both direct and indirect, i.e. carried out both by the owners of the goods and by intermediaries. The role of the latter can be brokers, dealers, commission agents, consignees, wholesale buyers, industrial agents. Intermediaries take on numerous functions for the sale of goods. For example, they can search for foreign partners, prepare documents and complete a transaction, transport and forwarding operations, credit and financial services and insurance of goods, after-sales service, market research, advertising, customs formalities and other activities. In addition to export-import operations in the practice of international economic relations, such special forms of foreign trade as bidding, auctions and exchanges are also used to sell goods.

A variety of export-import operations are re-export and re-import operations. Re-export - This is the export abroad of goods previously imported into a given country that has not undergone any processing in it. Re-export operations are possible in a variety of situations. First, re-export arises as a natural continuation of the trading operation. The seller imports the goods into the country for sale on the exchange or auction, but it can be sold to the buyer from a third country and exported.

Secondly, re-export may appear due to a break in the normal course of the sale of goods. If the seller sent the goods to the buyer, but the latter, for some reason, cannot pay for it, then he seeks to resell the goods to another buyer in this country or in a third country. The departure of goods to a third country is re-export. This is a forced re-export. Thirdly, it is also possible to perform a re-export operation without prior importation of goods from abroad, since they can be sent to a new buyer, bypassing the re-export country. Trading firms in many large countries often resort to resale operations, using the difference in prices for the same product to make a profit. In addition to firms engaged in net re-exports, the country also benefits from the transportation of re-exported goods carried out with the help of its vehicles, from insurance, credit and other intermediary operations. And, finally, fourthly, re-export operations also arise during the construction of large facilities with the help of foreign firms. Practice shows that a foreign supplier often purchases certain types of materials and equipment in third countries and sends them to the construction site without being imported to the country of re-export. Re-export operations without importation into the country of re-export, in fact, are not exports of this country, but they are taken into account by customs statistics and therefore belong to the class of re-export operations.

Concerning re-import operations, their existence is associated with the import from abroad of previously exported domestic goods that have not been processed there. They can be products that could not be sold at auctions, returned from a consignment warehouse, rejected by the buyer, and others.

Along with the usual export-import transactions for the sale of goods, each of which ends with the receipt or payment of a sum of money for an export or import product, so-called barter transactions are widely used in the practice of international economic relations. or counter-trade. Countertrade includes transactions for the sale of goods, when there are counter obligations of exporters to purchase products from importers for a part or the full value of the exported goods. The whole variety of counter transactions, depending on the organizational and legal basis or the principle of compensation, can be divided into three groups: barter transactions on a non-currency basis, trade compensation transactions on a monetary basis and industrial compensation transactions.

The nominal value of international trade is usually expressed in US dollars at current prices and is therefore highly dependent on the dynamics of the dollar exchange rate against other currencies. The real volume of international trade is the nominal volume converted into constant prices using a chosen deflator. In general, at the present stage (before the crisis), the nominal value of international trade had a general upward trend.

The main volume of international trade came to developed countries, although their share was somewhat reduced at the beginning of the 21st century due to the growth in the share of developing countries and countries with economies in transition. The main growth in the share of developing countries occurred due to the rapidly developing new industrial countries of Southeast Asia (Korea, Singapore, Hong Kong) and some Latin American countries.

In most cases, the largest exporters are also the largest importers in the world market.

The most significant trend is the growth in the share of trade in manufactured products, which by the end of the 20th and the beginning of the 21st centuries accounted for about 3/4 of the value of world exports, and the decrease in the share of raw materials and foodstuffs, which accounted for about 1/4.

This trend is typical for both developed and developing countries and is a consequence of the introduction of resource-saving and energy-saving technologies. The most significant group of goods within the manufacturing industry are equipment and vehicles (up to half of the export of goods in this group), as well as other industrial goods - chemical products, ferrous and non-ferrous metals, textiles. Within commodities and foodstuffs, the largest trade flows are food and beverages, mineral fuels and other raw materials, excluding fuels. The growth rate of international trade consistently exceeds the growth rate of world industrial production; the growth rate of international trade of developing countries is on average higher than the growth rate of international trade of developed countries. Industrialized countries account for about 2/3 of world exports by value, while developing countries, including countries with economies in transition, account for about 1/3 of world exports. In the commodity structure of world exports, more than 2/3 falls on manufacturing products, and its share is increasing, and about 1/3 - on raw materials and food products.

Russia was characterized by an increase in the value of exports.

The main factor behind the increase in the value of exports was the increase in world prices for oil and other major export commodities (oil and gas). Both Russia's specialization in the export of raw materials and the dependence of its economy on exports have intensified. About 75% of the export volume fell on the products of the fuel and energy complex and metallurgy. Export of raw materials amounted to approximately 35% of GDP, all exports - about 40%. Such ratios are typical for a developing country, whose economy is completely dependent on income received from the supply of raw materials to the external market. This is the position Russia is in. This was evident during the industrial recovery of the last ten years, based mainly on the growth of foreign exchange earnings from energy exports. The fall in the price of oil opened up the prospect of an economic downturn for the country.

The outdated fleet of industrial equipment leaves no hope that in the near future Russia will be able not only to expand, but even to restore its former, rather modest position as an exporter of engineering products and other industrial products of a high degree of processing. All the more urgent is the need for structural restructuring of the country's economy, without which it is difficult to claim a more advantageous position in the world market.

In the last 4-5 years, the economic recovery and a sharp increase in foreign exchange earnings gave a good chance for this. However, due to the global financial crisis these opportunities, as such, are currently missed.

In 2001-2009 the position in the country's economy was largely determined by the state of its exports. However, the prospects for its development largely depend on the action of random, external factors, among which the main one is the level of demand and prices for the main goods of Russian exports, primarily oil. Influenced by the decline in world prices for oil and other commodities, which Russia specializes in, the value of exports declined.

Accordingly, the volume of imports increased. This led to a contraction in the trade surplus of the Russian Federation, however, the volume of deliveries to foreign markets will remain significant, and the trade balance will remain positive, and yet the contribution of exports to the growth of the Russian economy has decreased, and the reduction in the trade surplus will inevitably lead to a deterioration in the economic situation. country and the slowdown in the growth of foreign exchange reserves of the Russian Federation.

1) international trade goods and services;

2) international movement of capital;

3) international currency settlement system;

4) international labor migration;

5) international information technology exchange.

Each of the noted forms has a qualitative originality, which, however, does not prevent their interpenetration, which is most clearly manifested in the activities of TNCs, the creation of integration groups and the functioning of free economic zones.

Speaking about the subjects of the international economic relations, it is necessary to highlight states(with a developed market economy, developing, transitional), regional integration groupings ( for example , European Union), international organizations, transnational corporations.

National market economies do not develop in isolation, but in close interaction with each other. No country in the world, not even the United States, can produce the entire range of modern goods, of which there are tens of millions, provide itself with hundreds of different services, investment and labor resources, and highly qualified specialists. Countries meet the growing needs of a personal and industrial nature through mutual exchange and cooperation in production, scientific research, environmental and other solutions. global problems requiring the pooling of financial, technical, professional and other resources. As the productive forces develop, the interdependence of national economies increases, the socio-economic development of countries is increasingly determined by the scale, diversity and efficiency of their economic relations with the rest of the world, which together form a system of international economic relations (IER).

International economic relations (IER) are relations between residents of a given country and residents of other countries that are non-residents in relation to this country.

Economic relations between countries are carried out and developed on the basis of the international division of labor (IRL), the essence of which is the specialization of countries in the production of certain goods, in the production of which they have certain advantages; specialization makes international exchange and cooperation possible and necessary.

The international division of labor is the highest stage in the development of the territorial division of labor, when the interregional national division of labor goes beyond national borders. It acts as objective premise exchange between countries.

The international division of labor determines the exchange of goods and services between countries, its expansion and diversification, the emergence of international trade and the world market, which is the total commodity circulation between countries or the totality of all external markets.

The world market arises on the basis of a large-scale factory industry, the products of which require a worldwide market. It is a natural result of the development of domestic national markets that have gone beyond state borders. The world market is a sphere of stable commodity-money relations between countries based on the international division of labor and other factors of production.
The world market is manifested through international trade, which is a combination of foreign trade of all countries and consists of two counter flows of goods - export (export) and import (import).
The world market differs from domestic markets primarily in that not all goods that circulate on national markets enter this market. The world market rejects goods from international exchange that do not meet international standards quality at world prices. The world market acts as a sphere of interstate exchange, it has an inverse effect on national production, showing what, how much, at what cost and for whom it is necessary to produce.

In Fig. 1, a conditional example shows the interaction of three countries through the exchange of goods. Areas A, B, C represent the domestic markets of these countries. Areas in, with, and are the external markets of the countries. Together and in interaction, they represent the world market (c, a + c, a + c, c).

A characteristic feature of the world market is the interstate movement of goods.

3. International movement of goods.

The main external sign of the existence of the world market is the movement of goods and services between countries.

international trade(international trade) - the sphere of international

commodity-money relations, which is a set of foreign trade of all countries of the world. For one country, usually

the term "foreign trade of the state" is used, in relation to

trade between two countries - "interstate, mutual, bilateral trade", and in relation to the trade of all countries with each other - "international or world trade". Often, international trade is understood as trade not only in goods, but also in services. Services are also goods, but often they do not have a materialized form and differ from goods in a number of parameters, which will be discussed below.

International trade consists of two counter flows of goods - exports and imports and is characterized by a trade balance and trade turnover.

Export(export / s) - the sale of goods, providing for its export abroad.

Import(import/s) - the purchase of goods, which provides for its import due to

trade balance(trade balance) - the difference in the value of exports

and import.

Trade turnover(trade turnover) - the sum of the value of exports and imports.

For example, if a computer is sold (and, in fact, transferred) to an American

division of IBM to its Russian division, it is considered

US exports and Russian imports, even though the American company IBM remained the owner of the goods. In the theory of the balance of payments, as we will see below, on the contrary, the change of ownership of the goods is decisive, and the sale of Russian raw materials to an affiliate of an American enterprise located in Russia will be considered Russian exports, although the raw materials did not cross the border.

4. Equilibrium in the world market.

Based on the premise of the balance of supply and demand, then graphically the concepts of export and import can be represented as shown in Fig. 2. Balance of supply and demand in the world market

Imagine that countries I and II in isolation from each other produce and consume the same product. The demand and supply of goods in country I are DI and SI, and in country II - respectively DII and SII.

The horizontal axis shows the volumes of production of goods QI, QI, along the vertical axis - its internal price PI, PII, respectively, in countries I and P. Market equilibrium of supply and demand for goods is achieved at point E1 in country I, where the price of goods is P1, and point E2 in country II, where the price of the good is P2. Since P1< Р2, this product cheaper in country I than in country II, and, therefore, it is profitable for country I to export it to country II and get some profit from this, and for country II it is profitable to import it from country I and thereby save and reduce its purchases on the domestic market . Due to the difference in domestic prices between countries I and II, country I, at any price for a product greater than P1, has an excess supply of it. In country II, at any price for a product less than P2, there is an excess demand for it.

Countries establish trade relations.

The equilibrium price P1 in country I shows that at point E1 the demand for the good is exactly is equal to the offer and country I has no product to export. This determines the point P1 "on the supply curve in the world market, showing minimum price, upon reaching which there will be no export of goods from country I. For country II, the equilibrium price P2 shows that at the point of equality of supply and demand E2 the country does not need any import of the product, since it manages with its own resources. This determines the point P2" on the demand curve in the world market, which shows the maximum price at which the import of goods by country II will stop.

The world economy is a set of national economies of the countries of the world that are in close interaction and interdependence through international economic relations.

Subjects of the world economy: states; international organizations of various levels; international financial centers; national enterprises of various levels; transnational companies; individuals.

Stages of formation of the world economy:

15th-18th century - the division of labor, the development of production, as a result of which there was a need to develop new territories, enter new markets;
Late 18th-early 19th century the industrial revolution, which led to mass production large-scale production;
Late 19th century - 50-60s. 20th century:

Late 19th century-20s 20th century (monopolistic associations are being created, the struggle for the territory of trade is intensifying);

30-50s of the 20th century (“the world economic crisis”, after which there was a scientific and technological revolution and new industries appeared);

60-80s 20th century (the collapse of the colonial system, the formation of a large number of independent states in Africa, Asia, Latin America; the European Union is formed);

4. late 20th century - up to the present time (labor migration, a single global information space, the integrity of the financial system).

Correlation of concepts: world.market, international trade, world.trade

International trade - the sphere of international commodity-money relations, which is a combination of foreign trade of all countries of the world.

World economy: concept, subjects, objects, structure

The world economy is a multi-level, global economic system that unites the national economies of the countries of the world on the basis of the international division of labor through the system of international economic relations.

Generally world economy can be defined as a set of national economies and non-state structures united international relations. The world economy arose thanks to the international division of labor, which entailed both the division of production (that is, international specialization) and its unification - cooperation.

Object of the world economy: world (world) economy.

Subjects of the world economy: states; international organizations of various levels; international financial centers; national enterprises of various levels; transnational companies; big businessmen.

The subjects of the world economy can be divided into three levels depending on the functions and tasks they perform.
1. The level of business entities, i.e. various firms and organizations - micro level.
2. State level (macro level), i.e. the level of action of various government agencies and organizations. At this level, by adopting various regulations, an environment is formed in which business entities operate, i.e. the rules for conducting foreign economic activity, the circle of possible participants, the tax policy in this area are determined; the foreign economic policy of the state is formed.
3. Interstate level - i.e. the level of action of various interstate organizations that determine the basic rules of relations on issues of foreign economic relations, developed in agreement with the member states of these organizations.

The structure of the world economy consists of the following major substructures: sectoral, reproductive, territorial and socio-economic.

Industry structure is the ratio between different industries in an economy.

The reproductive structure is the ratio between various types use of productive GDP.

Territorial structure - the ratio of the economy of various countries and territories.

Socio-economic structure is the relationship between different socio-economic structures.

International economic relations

International economic relations are, in a broad sense, a system of economic relations between the national economies of individual countries, represented by various economic entities, as well as international economic organizations and financial centers.

The development of international economic relations depends on a number of factors:

a) natural factors (natural-climatic, demographic);

b) acquired factors (production, scientific and technical, political, social, national-ethnic, religious).

The main forms of international economic relations:

International trade in goods;

International trade in services;

International specialization and cooperation of production;

International scientific and technical cooperation and exchange of scientific and technical results;

International movement of capital, international monetary and credit and financial relations;

International labor movement;

International information exchange;

Activities of international economic organizations and cooperation in solving global problems.

Sometimes the forms of international economic relations also include international economic integration (the highest level of the international division of labor, resulting from the deepening of international specialization and the unification of the national economies of a number of countries).

The objects of international economic relations are primarily goods and services circulating in international trade.

IEO subjects: states; international organizations of various levels; international financial centers; national enterprises of various levels; transnational companies; individuals.

MT methods: commodity exchanges, international auctions, international trades.

International commodity exchanges are a constantly operating large wholesale market, in which, according to certain rules, purchase and sale transactions are made for mass, qualitatively homogeneous and interchangeable goods.

Members of commodity exchanges are, as a rule, individuals, representing industrial or trading companies that produce or trade goods traded on the exchange. Brokers are hired to mediate transactions. They act on behalf and at the expense of third parties, receiving commissions for their services. The invited guests are the last group of participants stock trading. They can make deals with the help of exchange members or brokers.

The goods that are traditionally the subject of exchange turnover include:

Vegetable products (grain, sugar, coffee, cocoa, tea, spices);

Animal products (live cattle, meat, eggs, lard);

Industrial raw materials and products of its processing;

Metals, as well as products and semi-finished products from them.

The exchange commodity must be homogeneous, it must be suitable for standardization, it must not spoil quickly, the demand and supply for the exchange commodity must be massive.

International auctions are a specially organized permanent market where purchase and sale transactions are carried out through targeted competition between buyers.

Goods sold at auctions are mass and single, but their common feature is the heterogeneity of batches or individual copies, i.e. they cannot be bought without a preliminary inspection of the sold unit of goods (lot).

At auctions, goods accepted from sellers are sorted according to their quality into batches (lots), a sample is taken from each batch, and a number is assigned to the lot. A catalog is then produced and sent to potential buyers who arrive at the auction early to inspect the item. Bidding at auctions is carried out either with an increase in price or with a decrease (“Dutch auction”). Auction bidding with a price increase can be conducted "by voice" or using gestures. In the first case, the auctioneer announces the lot number and names the initial price, asking: "Who is more?". If the next price increase is not offered, then after asking three times: “Who is more?” - the lot is considered sold to the one who named the previous price. In a price reduction auction, the auctioneer lowers the price by predetermined discounts. The lot is purchased by the buyer who first says "yes".

Bidding is a method of concluding contracts of sale or a contract, in which the buyer (customer) announces a competition on the day of sellers (contractors) for goods with predetermined technical and economic characteristics and, after comparing the received offers, signs a contract of sale or a contract with that seller ( contractor), which offer more favorable conditions for the buyer (customer).

Various equipment is purchased through tenders, trucks, railway rolling stock, ships and other vehicles, communication equipment, etc.

Bidding can be open and closed (tender).

Bidding stages:

Preparation (initiator - Government, state or private organization; preparation and organization is carried out by the Tender Committee);
Preparation and submission of proposals by bidders;
Evaluation of proposals of participants and award of contracts.

World market: concept, elements, conjuncture, factors, features.

The world market is a synthetic concept that unites the markets of all countries of the world into a single whole. At the same time, the world market combines international trade in goods and services, international movement of capital, international movement of labor and international information exchange.

The main features of the global market:

It is based on the development of a market economy;
The world market is manifested in the interstate movement of goods and services, the main factors of production under the influence of the ratio of supply and demand;
The world market plays a sanitizing role; eliminates all unnecessary.

Acting as a sphere of interstate exchange of goods, the world market has a reverse effect on production, showing it what, how much and for whom it is necessary to produce. In this sense, the world market turns out to be primary in relation to the producer and is the central category of the theory of international economics.

The main external sign of the existence of the world market is the movement of goods and services between countries.

International movement of goods

The main external sign of the existence of the world market is the movement of goods and services between countries.

international trade- the sphere of international commodity-money relations, which is a set of foreign trade all countries of the world.

International trade consists of two counter flows of goods - exports and imports and is characterized by a trade balance and trade turnover.

Export- sale of goods, providing for its export abroad.

Import- the purchase of goods, providing for its import from abroad.

trade balance- the difference between the value of exports and imports.

Trade turnover- the sum of the cost volumes of exports and imports.

According to the statistical standards accepted in the world, the key element for recognizing trade as international, the sale of goods as export, and the purchase as import, is the fact that the goods cross the customs border of the state and record this in the relevant customs reporting. At the same time, whether the product of the owner changes or not - it does not matter. For example, if a computer is sold (and, in fact, transferred) by the American division of IBM to its Russian division, it is considered a US export and a Russian import, even though the American company IBM remains the owner of the goods. In the theory of the balance of payments, as we will see below, on the contrary, the change of ownership of the goods is decisive, and the sale of Russian raw materials to an affiliate of an American enterprise located in Russia will be considered Russian exports, although the raw materials did not cross the border.

In the world market, as in any market, supply and demand are formed, and the desire for market equilibrium is maintained. To understand how this happens, consider a hypothetical example. Suppose that countries I and II, in isolation from each other, produce and consume the same product, but the resources for its production and the needs for it are different. Accordingly, different market prices and different equilibrium conditions will develop in the domestic market. The demand and supply of goods in country I are D I and S I, and in country II - D II and S II, respectively. The horizontal axis shows the production volumes of goods Q I Q II , along the vertical axis - its domestic price Р I , Р II respectively in countries I and II. The market equilibrium of supply and demand for a good is reached at point E1 in country I, where the price of the good is P 1 , and point E 2 in country P, where the price of the good is P 2 . Since R 1< Р 2 данный товар дешевле в стране I, чем в стране II, и, следовательно, стране I выгодно его экспортировать в страну II и получить от этого какую-то прибыль, а стране II выгодно его импортировать из страны I и тем самым сэкономить и снизить его закупки на внутреннем рынке. Из-за различия во внутренних ценах между странами I и II у страны I при любой цене на товар больше, чем Р 1 , возникает его избыточное предложение. У страны II при любой цене на товар меньше, чем Р 2 возникает избыточный спрос на него.

Rice. 1.5. The balance of supply and demand in the world market

Countries establish trade relations. The equilibrium price P 1 in country I shows that at point E, the demand for the good is exactly equal to the supply and country I has no goods to export. This determines the point P 1 "on the supply curve in the world market, showing the minimum price, upon reaching which there will be no export of goods from country I. For country II, the equilibrium price P 2 ' shows that at the point of equality of supply and demand E 2 the country does not no import of the product is required, since it manages with its own resources. This determines the point P 2 " on the demand curve in the world market, showing the maximum price, at which country II will stop importing the product.

Since there are only two countries, the quantity of goods exported by country I must match the quantity of goods imported by country II. Or, what is the same, the excess domestic supply in country I must be equal to the excess domestic demand in country II, that is, graphically A 1 B 1 = A 2 B 2, where A 1 B 1 represents the export of country I, and A 2 B 2 - imports of country II. The value of exports A 1 B 1 will show the second point, which determines the supply curve of goods in the world market, and the value of imports A 2 B 2 will show the second point, which determines the demand curve for goods in the world market. But, since exports and imports are quantitatively equal, then on the world market chart they will coincide on the segment PE, defining a new market equilibrium, which is reached at point E at a new level of world price P - the equilibrium price of goods on the world market. World demand and supply of goods at this price are determined respectively by the curves D w and S w

If a situation arises when the price of the world market for some reason rises above the level P, thereby expanding the volume of exports over A 1 B 1 , then the limited demand within the quantitative framework A 2 B 2 will lower the price to the level P. If the price of the world market, why -or falls below the level P, then quantitatively the demand for imports of goods will exceed its quantity available for exports A 1 B 1, and the price will return to the world level P.

Based on the above, the following more general conclusions can be drawn:

The world market is the sphere of the international balance of supply and demand for goods exported and imported by countries;

The size of exports is determined by the size of the excess supply of goods, the size of imports - by the size of the excess demand for goods;

The fact of the presence of excess supply and excess demand is established in the process of comparison of internal equilibrium prices for the same goods in different countries taking place in the international market;

The price at which international trade is carried out is between the minimum and maximum domestic equilibrium prices that exist in countries before the start of trade;

On the one hand, a change in the world price leads to a change in the quantity of exported and imported goods on the world market, on the other hand, a change in the quantity of exported and imported goods leads to a change in the world price.

Thus, the simplest model of the world market, called the partial equilibrium model, shows the main functional relationships between domestic demand and supply and demand and supply of goods on the world market, determines the quantitative volumes of exports and imports, as well as the equilibrium price at which trade is carried out.

The development of the world market for goods led at the turn of the 19th-20th centuries to the intensification of international economic communication, which began to gradually go beyond the interstate exchange of goods. The rapid development of productive forces and the growth of power financial capital gave rise to the world economy.