That simple

Exchange of goods through currency is a convenient method. But it has miserably failed due to manipulation and selfishness of the rich and powerful countries. To get over the looming crises of the global economy it is inevitable to revert back to old barter system. Oil producing Middle East countries needs food items from countries mainly dependent on agrarian economy. Similarly rich industrialized countries like the European Union, America and Japan will need oil and food items which they can get by exporting industrial machinery and industrial goods in exchange for oil and food. Thus, the global economy presently in a state of turmoil, will be stabilised. -IQBAL, Lahore, via e-mail, April 27.

ePaper - Nawaiwaqt