In the language of economists, the shock suffered by France this year is called the deterioration of trade conditions. In other words, the increase in energy prices and the weakness of the euro increased the difference between French export and import prices. “Since France is a net importer of hydrocarbons, an increase in their relative price automatically leads to a loss of real income for the country, which could reach 85 billion in 2022.Details in a note from the Treasury to Bercy, economist Guillaume Claveres.
- Prime Macron 2022: conditions, amount, payment date … how it works?
This concept of degrading the terms of trade was coined in the 1950s by Raoul Prebisch, the first Secretary-General of the Cnuced, and the British Hans Singer. Their thesis, arguing that the prices of agricultural products sold by developing countries were inevitably falling relative to the prices of manufactured goods, was intended to warn against growing inequality between the North and the South. They didn’t plan…
This article is for subscribers only. You have 76% left to discover.
Cultivating your freedom is cultivating your curiosity.
Continue reading your article for €0.99 for the first month
ENJOYING IT!
Already subscribed? enter
Source: Le Figaro
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.