| 单词 | counter-trade |
| 释义 | counter-trade International trade conducted by barter. In general, barter is inefficient compared with the use of money, and bilateral trade is inefficient compared with multilateral trade. Counter-trade is thus clearly a second-best policy. It has nevertheless been used by many countries, including formerly planned economies. Its defenders argue that while counter-trade is not ideal, for an economy which has allowed its monetary system to break down, in the short run it is better than no trade at all. |
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