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Factor Analysis of International Values of Commodities under Circumstances of Economic Globalization
FU Cai-xia
Teaching and Research
2005, (5):
81-86.
According to Marxist theory of international value, factors that affect the international value of commodities include technical facility of production, intensity of labor; relation between demand and supply; production efficiency; value of currency, etc. Economic globalization not only changed the factors mentioned above, but also gave rise to new factors. Among the new factors are trade on the internet, rapid development of information industry, rapid increase of trade in international service, regional organization and intensified interference of trade organizations on international economic activities. All this makes international value even more complicated. After China’s entry into WTO, it is of great theoretical and practical importance that we pay close attention to studies of factors that affect international value, emphasize studies of factor analysis of international value, and stress using the regularity of international value to guide optimal allocation of resources and to adjust the industry structure.
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