Magazine content is available exclusively for TIME subscribers.Modern Barter
Simple swaps become big deals
Want to sell DC-9s for Yugoslav hams, beer and machine tools, or frozen New Zealand lamb for Iranian oil? How about U.S. jet fighters for Greek cement, or a 150 million-year-old Mongolian dinosaur skeleton for West German cars?
Welcome to countertrade, a modern form of bartering and one of the fastest growing ways of doing business around the world. Countertrade ranges from relatively simple barter transactions to intricate arrangements that can involve many nations and goods as well as complex financing and credits. Because so many countries, especially the less developed ones (LDCs), are having trouble paying cash...
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