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Liburkina L. M.

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Non-Equivalent Exchange as a Strategy for Forming the Preconditions for Economic Development in Developed Countries
Yemets V. V.

Yemets, Vadym V. (2023) “Non-Equivalent Exchange as a Strategy for Forming the Preconditions for Economic Development in Developed Countries.” Business Inform 12:39–44.
https://doi.org/10.32983/2222-4459-2023-12-39-44

Section: International Economic Relations

Article is written in Ukrainian
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UDC 339

Abstract:
The established system of global economic relations functions on the basis of a mechanism that provides for an asymmetric level of "benefits" between developed and developing countries. As a result, an American, Swede or, for example, a Swiss consumes 40 times more of the Earth’s resources than the average Somalian, eats 75 times more meat than an Indian and burns 150 times more electricity than the average Nigerian. These statistics could go on and on, but suffice it to say that even the average cat in England consumes twice as much protein as the average resident of Africa. According to a report by scientists published by the Royal Society, a child in a developed country consumes 30 to 50 times more water than a child of the same age in a developing country. In 2010, nearly one billion people did not get the minimum amount of calories they needed, despite the fact that global calorie consumption increased by an average of 15% between 1969 and 2005. Meanwhile, more people in the Middle East, North Africa, South Asia and sub-Saharan Africa live on less than $5.50 a day today than in 1990. The maintenance of the existing order is based on several economic "pillars", which make it impossible to change the established foundations in favor of weaker economies. Such pillars are: availability of technology, production capacity, human and financial capital in more developed countries, which makes it possible to produce goods in demand on the market with high added value, which ensures the development of the non-equivalent exchange mechanism; the functioning of the global financial system, which contributes to the formation of a surplus of financial capital in developed countries and its deficit in developing countries; attractiveness of the image of developed countries as a destination for emigration, education, travel, purchase of residential and non-residential real estate, and other investments. A significant part of the natural, financial and human resources of weaker countries, one way or another, are involved in the national property of more developed ones, increasing their overall level of resource security, competitiveness and efficiency, leading to a further gap in development between the countries of the first world and "other worlds".

Keywords: non-equivalent exchange, developed countries, developing countries.

Tabl.: 3. Bibl.: 10.

Yemets Vadym V. – Candidate of Sciences (Economics), Expert, SE “Derjzovnishinform” (15 Zahorodnia Str., Kyiv, 03150, Ukraine)
Email: [email protected]

List of references in article

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