Global unequal exchange

[Chris Burford <cburford@xxxxxxxxxx>]

> prices will tend to align with prices in the
> most competitive parts of the area.


 From a passionately positive article about the benefits of the euro in
the Guardian today, mainly emphasising the increase in inward investment
in euroland by comparison with those EU countries that stayed out of the
euro. 


http://www.guardian.co.uk/euro/story/0,11306,728135,00.html



But I wanted to ask whether others agree with the statement above. It
appears self evident if there is mobility of information and transport of
commodities across a market. But in a deeper marxist sense is it
consistent with the law of value?

And most importantly, can it be applied on a world scale? 

Are the most competitive parts of the world market those with the highest
concentration of capital and therefore the most advanced means of
production? Do they set the bench mark for the value of all commodities?

Does that mean that all other areas using less advanced means of
production are trading unequally and there will be an unequal
exchange of value on a massive global scale, inherent in the very
fabric of the international market, which is self perpetuating and indeed
accelerating.

Chris Burford