#commodities traded in india

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Crude oil is one of the most actively traded commodities in the world, with its market influenced by a variety of factors including geopolitical events, supply and demand, and economic data. For traders, understanding the best times to trade crude oil is crucial to optimising their strategies. Different time zones play a significant role in determining market activity, and the timing of trading can greatly impact decision-making. In this blog, we’ll explore which time zones are best for crude oil trading and why understanding the crude oil market time is essential.

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Top Commodities Trading Apps to Boost Your Portfolio in 2024

Introduction

In the fast-paced world of trading, commodities hold a unique and vital position. From gold and silver to oil and natural gas, commodities offer traders an opportunity to diversify their portfolios and hedge against market volatility. With advancements in technology, trading commodities has become more accessible and convenient, thanks to powerful mobile apps. In this blog, we will explore the best app to trade commodities in India in 2024 and how these apps can help you enhance your trading experience and portfolio.

Importance of Choosing the Right Trading App

Selecting the right trading app is crucial for success in commodities trading. A well-designed app can provide real-time market data, advanced analytical tools, and a user-friendly interface, all of which are essential for making informed trading decisions. The right app should cater to your specific needs, whether you are a novice trader or an experienced investor. With the right tools at your disposal, you can navigate the complexities of the commodities market with confidence.

Key Features to Look for in a Commodities Trading App

When evaluating commodities trading apps, consider the following key features:

Real-Time Market Data: Access to up-to-date market prices and trends is essential for making timely trades.

Advanced Charting Tools: Comprehensive charting capabilities and technical indicators help you analyze market movements.

User-Friendly Interface: An intuitive and easy-to-navigate interface ensures a smooth trading experience.

Order Execution: Fast and reliable order execution is critical for capitalizing on market opportunities.

Security Features: Robust security measures protect your data and transactions.

Customer Support: Responsive customer support can assist with any issues or queries.

Zerodha Kite

Zerodha Kite is widely regarded as one of the best apps for trading commodities in India. Known for its sleek design and powerful features, Zerodha Kite offers a range of tools that cater to both beginners and seasoned traders. The app provides real-time market data, advanced charting tools, and a variety of order types. Its seamless integration with Zerodha's trading platform makes it a top choice for traders looking to trade commodities on the Multi Commodity Exchange (MCX).

Key Features:

Advanced technical analysis tools

Real-time market data and news

User-friendly interface

Robust security features

Comprehensive order management system

Sharekhan App

Sharekhan's trading app is another excellent choice for commodities trading. The app offers a wide range of features, including real-time market updates, advanced charting tools, and detailed research reports. Sharekhan's app is designed to provide a seamless trading experience, with a focus on ease of use and reliability. Whether you are trading gold, silver, or crude oil, the Sharekhan app has the tools you need to make informed trading decisions.

Key Features:

Real-time market updates and news

Detailed research reports and analysis

Advanced charting tools with multiple indicators

Easy-to-use interface

Secure login and transaction processes

Angel Broking Commodity App

Angel Broking's Commodity App is known for its user-friendly interface and reliable performance. The app provides real-time market data, comprehensive charting tools, and a range of order types. Angel Broking also offers personalized advisory services, helping traders make informed decisions based on expert insights. With its robust security features and responsive customer support, Angel Broking's Commodity App is a solid choice for trading commodities on the MCX.

Key Features:

Real-time market data and alerts

Personalized advisory services

Comprehensive charting and analysis tools

Secure and user-friendly interface

Fast and reliable order execution

Upstox Pro Commodity App

Upstox Pro is a powerful trading app designed for the savvy trader. The app offers advanced charting tools, real-time market data, and a variety of order types. Upstox Pro's intuitive design and feature-rich platform make it an excellent choice for traders looking to gain an edge in the commodities market. With its competitive brokerage rates and robust security features, Upstox Pro is a top contender for the best app to trade commodities in India.

Key Features:

Advanced charting tools and technical indicators

Real-time market data and news

Intuitive and customizable interface

Secure login and transaction processes

Competitive brokerage rates

TradePlus Mobile App

TradePlus Mobile App is designed to simplify the process of commodities trading. The app provides real-time market updates, advanced charting tools, and seamless order execution. TradePlus also offers a range of educational resources, helping traders improve their skills and knowledge. With its user-friendly interface and comprehensive trading features, TradePlus Mobile App is a great choice for both novice and experienced traders.

Key Features:

Real-time market updates and alerts

Advanced charting tools and analysis

User-friendly and intuitive interface

Educational resources and tutorials

Secure and reliable order execution

Best App for MCX Trading

The Multi Commodity Exchange of India (MCX) is the largest commodity derivatives exchange in India, offering a wide range of commodities for trading. Choosing the best app for MCX trading is crucial for accessing real-time data, executing trades efficiently, and managing your portfolio effectively. The right app can provide you with the tools and insights needed to capitalize on market opportunities and achieve your trading goals.

Tips for Successful Commodities Trading

To maximize your success in commodities trading, consider the following tips:

Stay Informed: Keep up-to-date with market news and trends to make informed trading decisions.

Use Technical Analysis: Leverage advanced charting tools and technical indicators to analyze market movements.

Diversify Your Portfolio: Spread your investments across different commodities to manage risk.

Set Clear Goals: Define your trading objectives and develop a strategy to achieve them.

Practice Risk Management: Use stop-loss orders and other risk management techniques to protect your capital.

Monitor Your Trades: Regularly review your trades and adjust your strategy as needed.

Conclusion

In 2024, the landscape of commodities trading in India is more dynamic than ever, with a variety of powerful trading apps available to help you achieve your investment goals. From Zerodha Kite and Sharekhan App to Angel Broking Commodity App, Upstox Pro, and TradePlus Mobile App, each of these platforms offers unique features and benefits that cater to different trading styles and needs. By choosing the best app to trade commodities in India and leveraging the right tools and strategies, you can enhance your trading experience and boost your portfolio's performance. Whether you are a seasoned trader or just starting out, the right app can make all the difference in your commodities trading journey.

[bestcommoditytradingapp]

Which is the best platform for online best app to trade commodities in India?

Commodity trading involves buying and selling physical commodities such as gold, silver, oil, and agricultural products. In India, several online platforms offer convenient and secure ways to best app to trade commodities in India. Here are the top platforms to consider:

Source - https://articlebook.org/2024/04/23/which-is-the-best-platform-for-online-best-app-to-trade-commodities-in-india/

[ryzmarket]

Which Countries are the biggest gold consumers in the world in the year 2023?

Which Countries are the biggest gold consumers in the world in the year 2023?

In numerous countries, the yellow metal is additionally viewed as a type of investment as well as is given from generation to generation to be valuable for a rainy day. Continue reading to recognize the listing of five countries with the greatest demand for gold. For numerous years, the general position of gold usage by country has been secure, with China and India in the initial and second positions, respectively. Nonetheless, there are a few countries whose demand for gold has been fluctuating a bit. After the economic crisis of 2009, reserve banks of numerous countries are continuously trying to expand their gold books.

5 Highest Gold Consuming Countries

1. China China is the leader of one of the most gold purchasing nation. China is the globe's top bullion buyer. China being at the top of the list should be of little surprise considering its huge populace. In 2016, China got a lot more gold than India and the United States incorporated purchase. This was largely due to the boost in revenue of the upper class. China's jewelry-related gold demand fell in 2019, and also the disastrous covid-19. Nevertheless. Things changed two years later on, as well as the need for gold got the speed. In 2021, the yearly need for gold in China was 675 statistics tonnes,6 % more than that in 2019. But in 2022, there's a possibility of a stagnation in China's financial growth. However, according to professionals, gold need can be secure as a result of gold rates. But, demand for gold coins as well as bars can rise. In China, the jewelry-related gold demand accounts for 65% of the gold usage in the country.

2. India Next on the listing of greatest gold-consuming nations stands India. China and also India have almost the exact same populace; for that reason, they are at the top of the list. India's love for gold go back a thousand years. Indian families have one of the most considerable private global gold holdings. Celebrations as well as weddings in India are insufficient without gold; as a matter of fact, there are a few festivals like Akshay Tritya and also Dhanteras when it is considered auspicious to buy gold. In 2020, India's yearly need for gold was 464 metric tonnes. In 2022, it raised to a skyrocket of 797 statistics tonnes, the greatest in the past five years. This was primarily fueled by jewelry-related gold demand as a result of celebrations and also weddings. According to the Globe Gold Council's most recent reports, the demand for gold in India will likely dip for the remaining months of 2022. And also for 2022, the prediction by the World Gold Council for the need of gold is someplace in between 800 - 850 tonnes. Recently, the Central government enforced a 5% obligation trek on gold prices. Still, it is doubtful that it will influence the need for gold in countries with the highest jewelry-related gold need, like India.

3. United States Weddings are the main factor for jewelry-related gold need in the United States. The gold wedding band has been the American custom for ages. Nowadays, the United States gold market is appreciating a high renaissance condition with the arrival of numerous developer gold precious jewelry brand names. In the very first fifty percent of 2020, because of the influence of the pandemic on the gold market, the demand for gold was reasonably low in the United States. However at the year's end, the gold demand raised after the lockdown restriction. The main reason is the cash individuals saved from travel and eating restrictions during the pandemic. Wedding celebrations that were delayed and later rescheduled in 2021 were additionally a driving force for the rise in demand for gold. Gold jewelry intake went beyond 149 metric tonnes in 2021 in the USA.

4. United Arab Emirates In 2022's Q1, the demand for gold jewelry was at its ideal in the last 5 years. Among the reasons for the rise sought after for gold in the UAE is the increasing populace as well as the development of the middle class. In the year 2022, for the people of UAE, gold was a leading financial investment choice because of reduced gold prices. In 2019 Q4, the gold precious jewelry usage in the UAE was 11.5 metric tonnes. It jumped to 12,5 statistics tonnes in 2022. Dubai is renowned for being the unique global gold precious jewelry center. According to a 2011 report, the Emiratis have the globe's greatest per capita gold intake. Dubai's Gold Souk Market hosts regarding 300 stores marketing gold precious jewelry.

5. Indonesia Gold holds social significance in Indonesia. Indonesia has the world's biggest gold deposit and also among the globe's biggest cash cow. In 2021, because of the lockdown caused because of the Omicron variant, which reached its peak in February 2021, the gold need fell by 7% to below 6 metric tonnes. Many Indonesian families have exclusive gold holdings. However, the World Gold Council anticipates that due to the joyful purchasing, the demand for gold will boost in 2022. Of the need for gold in Indonesia, 60% is the jewelry-related gold demand.

Fall In the Worldwide Demand for Gold The globe Gold Council has predicted that the demand for gold in the majority of significant gold markets might drop due to a weaker economy. Since the begin of the Covid-19 pandemic, the jewelry-related gold demand has actually considerably reduced. In among the nations with the highest possible need for gold, like china, with the strict lockdowns because of the zero covid policy, the gold need curve saw a sharp decline.

Also, when gold prices enhanced due to the Russia-Ukraine war, people delayed buying gold jewelry; hence, the global demand for gold also decreased somewhere. The elevated gold rates are maintaining possible customers on the sideline. While in India, the price of gold acquiring additionally decreased due to the conditioning of the buck and, weakening of the rupee, hefty import duties on gold.

Gold has always been a safe financial investment option. The global acceptance of yellow metal is past words. Gold is a possession that doesn't corrosion, to make sure that it can be made use of for future investments. Gold has cultural, psychological, and economic worth all around the world. In lots of countries, jewelry-related gold need is generally driven due to practices like religious rituals, marital relationships, and so on.

Also Consider Reading - https://www.tomorrowmakers.com/gold/top-5-countries-highest-demand-gold-article#google_vignette

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Exploring Commodity Trading with Stock Brokers in India

Commodity trading is a dynamic and lucrative segment of the financial markets, offering investors the opportunity to trade in various commodities such as gold, silver, crude oil, agricultural products, and more. In India, commodity trading is facilitated by stock brokers who provide a platform for investors to participate in this exciting market. In this blog, we will explore the concept of commodity trading, its significance, and how stock brokers play a crucial role in empowering investors to venture into this asset class.

Understanding Commodity Trading:

Commodity trading involves buying and selling physical commodities or commodity futures contracts on exchanges. It allows investors to benefit from price fluctuations in commodities, which are influenced by supply-demand dynamics, geopolitical factors, weather conditions, and other economic indicators.

Types of Commodities Traded:

Commodities can be broadly categorized into two groups: soft commodities (agricultural products like wheat, cotton, and sugar) and hard commodities (metals like gold, silver, and base metals, and energy products like crude oil and natural gas). Each commodity has its own unique characteristics and factors driving its price movement.

The Role of Stock Brokers in Commodity Trading:

Stock brokers act as intermediaries between investors and commodity exchanges. They provide trading platforms, research tools, and expert advice to investors interested in trading commodities. Stock brokers ensure seamless execution of trades and offer real-time market data to help investors make informed decisions.

Commodity Trading Account:

To trade in commodities, investors need to open a separate commodity trading account with a stock broker. This account is linked to a Demat account, enabling the trading and settlement of commodity contracts.

A commodity trading account with good stock brokers is the foundation for successful commodity trading. With their expert research, transparent fee structures, personalized support, and reliable trading platforms, good stock brokers empower investors to explore the world of commodity trading with confidence.

Investors can seize opportunities in commodity markets, diversify their investment portfolios, and potentially benefit from price movements in various commodities. Commodity trading accounts with good stock brokers open up a realm of possibilities for investors, enabling them to achieve their financial objectives and thrive in the ever-evolving commodity markets.

Understanding Commodity Futures and Options:

Commodity trading offers two primary instruments: futures and options contracts. Futures contracts involve an agreement to buy or sell a commodity at a predetermined price and date in the future. Options contracts provide the right, but not the obligation, to buy or sell a commodity at a specific price within a certain period.

Risk Management and Hedging:

Commodity trading provides opportunities for risk management and hedging. Farmers, producers, and industries can use commodity futures contracts to hedge against price fluctuations and mitigate risks associated with their businesses.

Diversification Benefits:

Adding commodities to an investment portfolio can enhance diversification and reduce overall portfolio volatility. Commodities often have a low correlation with traditional asset classes like equities and bonds.

Commodity trading presents a unique opportunity for investors to participate in the price movements of essential commodities that impact various sectors of the economy. Stock brokers in India play a crucial role in facilitating commodity trading, providing investors with the necessary tools, research, and access to commodity exchanges.

As with any form of trading, investors must conduct thorough research, understand market dynamics, and manage risks effectively. With the guidance and support of reliable stock brokers, investors can explore the world of commodity trading with confidence, potentially capitalizing on diverse investment opportunities and achieving their financial objectives. Commodity trading adds depth and diversity to investment portfolios, making it an attractive avenue for both experienced traders and those looking to venture into new asset classes.

In conclusion, exploring commodity trading with stock brokers in India opens up a world of opportunities for investors to participate in the dynamic commodity markets. Commodity trading, with its potential for substantial returns and portfolio diversification, has gained popularity among investors looking to expand their investment horizons.

Stock brokers in India play a pivotal role in facilitating commodity trading, providing investors with the necessary tools, research, and support to make well-informed trading decisions. Through their online platforms and trading terminals, stock brokers offer real-time market data, charting tools, and seamless order placement, making commodity trading accessible and convenient.Additionally, with the rising popularity of mobile trading, commodity trading apps offered by stock brokers have further revolutionized the landscape. Commodity trading apps allow investors to trade on-the-go, access real-time market updates, and manage their commodity trading accounts from the palm of their hands. These apps have enhanced the ease and flexibility of commodity trading, empowering investors to seize opportunities swiftly and effectively.

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Commodities trading is a resource for people who are looking forward to investing in commodities like Gold, Silver, Crude Oil, Natural Gas, etc. Overview & Benefits of Investing in Commodities

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Which are the best app for commodity trading in India?

Commodity trading has been gaining popularity in India over the years, with more and more people looking to invest in this market. With the rise of technology, there has been a significant increase in the number of mobile applications that cater to commodity trading in India. These apps not only provide a platform for trading but also offer a range of features and tools to help traders make informed decisions. In this article, we will discuss some of the best apps for commodity trading in India.

Source - https://medium.com/@bestcommoditytradingapp/which-are-the-best-app-for-commodity-trading-in-india-aa8a48b13de4

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A Comprehensive Guide to Commodities Trading in India: Major Commodities

Introduction

Commodities trading in India has gained significant popularity over the years. As a diverse investment avenue, it allows individuals to take part in the trading of various tangible goods. These goods are essential for industries and households alike.  This article will provide an in-depth overview of the eight categories of commodities traded in India.

When considering the best commodity shares to buy in India, it's important to conduct thorough research and analysis. Factors such as market trends, company fundamentals, and prospects should be considered. Consulting with a financial advisor or broker can provide valuable insights. It assists to recognize potential investment opportunities.

Precious Metals:

Precious metals are valued for their rarity and aesthetic appeal. Examples are gold, silver, and platinum. They serve as a store of value, a medium of exchange, and a hedge against increase in general price level. Investors often view precious metals as a haven during times of economic uncertainty. To invest in precious metals, individuals can consider purchasing physical bullion, exchange-traded funds (ETFs), or stocks of mining companies.

Base Metals:

Base metals play a crucial role in various industries. It includes construction, manufacturing, and infrastructure. Copper, aluminium, zinc, nickel, and lead are some base metals traded in India. Global economic conditions and industrial activities influence the demand for these metals. Investors can take part in base metals trading through commodity exchanges, futures contracts, or exchange-traded products.

Energy Products:

Crude oil, natural gas, and coal are significant energy commodities traded in India. Crude oil is a vital resource. Its main usage is fueling transportation, power generation, and manufacturing processes. Natural gas is an alternative to traditional fossil fuels. But, coal remains a dominant energy source in certain industries. Investors interested in energy commodities can consider futures contracts, ETFs, or energy company stocks.

Agricultural Products:

India's agriculture sector is diverse and produces a wide range of commodities.  The following are among the many agricultural commodities traded in the country:

Cereals like rice and wheat, pulses like lentils and chickpeas, oil seeds like soybean and mustard, spices, sugar, cotton, and coffee. One can invest in agricultural commodities through commodity exchanges, agricultural futures contracts, or agro-based ETFs.

Soft Commodities:

Soft commodities refer to agricultural products that are grown rather than mined. These include commodities like coffee, cocoa, tea, rubber, and jute. Factors such as weather, global consumption patterns, and geopolitical factors influence the demand for soft commodities. Investors can gain exposure to soft commodities. It can be through commodity exchanges, futures contracts, or specialized ETFs.

Bullion:

Apart from being a category of precious metals, bullion may also refer to traded commodities such as gold and silver bars or coins. Bullion favoured by investors looks for a physical form of investment. It offers a tangible asset that can be stored or held as a hedge against inflation. Investors can buy bullion from trusted dealers or opt for ETFs that track the value of physical bullion.

Agrochemicals:

Agrochemicals are crucial for enhancing agricultural productivity. Certain commodities including fertilizers and pesticides. As the agricultural sector continues to grow in India, the demand for agrochemicals rises as expected. Investors interested in this sector can explore stocks of agrochemical companies or ETFs focused on the agricultural industry.

Other Commodities:

Besides the above categories, there are various other commodities traded in India. This includes diamonds, textiles, and industrial raw materials. Diamonds are highly valued gemstones. Textiles and industrial raw materials play significant roles in the manufacturing and construction sectors. Investors can explore stocks of companies involved in these sectors. Also other specialized commodity-related funds.

Conclusion

Commodities trading in India offers individuals a diverse range of investment opportunities. Across various categories, each presents unique dynamics and potential for investment growth. It is despite precious metals or other commodities.

To open an online commodity trading account in India, individuals can approach established brokerage firms. It must offer online trading services. These firms provide an easy-to-use online platform to open an account. Complete the necessary documentation, and fund the account. It is advisable to review the account opening process, fee structure, and trading tools provided.

In summary, commodities trading in India presents investors with a multitude of opportunities. It helps to diversify their portfolios and achieve attractive returns. Understand the various categories of commodities. Conduct thorough research and make informed investment decisions. Individuals can take part in this dynamic market. Also, enjoy the performance of different commodities.

Choosing from the best commodity trading brokers in India is essential.  A reputable and reliable brokerage firm such as Goodwill, offers a platform with competitive pricing, and reliable customer support. It also gives access to a wide range of commodities and markets.

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With years of experience in the industry, the commodity brokers in India are well-equipped to guide you through the ups and downs of the market. They offer a range of trading options and strategies, ensuring that you have the tools you need to succeed. They offer the best commodity trading platform, allowing you to quickly and easily execute trades from anywhere, at any time. Visit here to know more

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[tradefinancecompany]

What Are The Facts You Need To know About Trade Finance Companies?

Trade finance makes import-export business transactions likely for an individual variety, from a small business introducing its initial private-label product from abroad to an International Company importing or exporting vast quantities worldwide each year. To cover the cost of the goods, they intend to purchase or sell; smaller businesses typically have minimal access to loans and other forms of interim financing. Many banks will only provide loans or overdraft protection for these transactions if there is a confirmed order for the products. Some fundamental estimation is that over 80 percent of overall trade depends on buy and sell financing, which assists goods and keeps moving even when Trade Finance Company doesn’t have sufficient cash flow inside to business the transactions themselves.

[determinate-negation]

“This raises the question: if industrial production is necessary to meet decent-living standards today, then perhaps capitalism—notwithstanding its negative impact on social indicators over the past five hundred years—is necessary to develop the industrial capacity to meet these higher-order goals. This has been the dominant assumption in development economics for the past half century. But it does not withstand empirical scrutiny. For the majority of the world, capitalism has historically constrained, rather than enabled, technological development—and this dynamic remains a major problem today.

It has long been recognized by liberals and Marxists alike that the rise of capitalism in the core economies was associated with rapid industrial expansion, on a scale with no precedent under feudalism or other precapitalist class structures. What is less widely understood is that this very same system produced the opposite effect in the periphery and semi-periphery. Indeed, the forced integration of peripheral regions into the capitalist world-system during the period circa 1492 to 1914 was characterized by widespread deindustrialization and agrarianization, with countries compelled to specialize in agricultural and other primary commodities, often under “pre-modern” and ostensibly “feudal” conditions.

In Eastern Europe, for instance, the number of people living in cities declined by almost one-third during the seventeenth century, as the region became an agrarian serf-economy exporting cheap grain and timber to Western Europe. At the same time, Spanish and Portuguese colonizers were transforming the American continents into suppliers of precious metals and agricultural goods, with urban manufacturing suppressed by the state. When the capitalist world-system expanded into Africa in the eighteenth and nineteenth centuries, imports of British cloth and steel destroyed Indigenous textile production and iron smelting, while Africans were instead made to specialize in palm oil, peanuts, and other cheap cash crops produced with enslaved labor. India—once the great manufacturing hub of the world—suffered a similar fate after colonization by Britain in 1757. By 1840, British colonizers boasted that they had “succeeded in converting India from a manufacturing country into a country exporting raw produce.” Much the same story unfolded in China after it was forced to open its domestic economy to capitalist trade during the British invasion of 1839–42. According to historians, the influx of European textiles, soap, and other manufactured goods “destroyed rural handicraft industries in the villages, causing unemployment and hardship for the Chinese peasantry.”

The great deindustrialization of the periphery was achieved in part through policy interventions by the core states, such as through the imposition of colonial prohibitions on manufacturing and through “unequal treaties,” which were intended to destroy industrial competition from Southern producers, establish captive markets for Western industrial output, and position Southern economies as providers of cheap labor and resources. But these dynamics were also reinforced by structural features of profit-oriented markets. Capitalists only employ new technologies to the extent that it is profitable for them to do so. This can present an obstacle to economic development if there is little demand for domestic industrial production (due to low incomes, foreign competition, etc.), or if the costs of innovation are high.

Capitalists in the Global North overcame these problems because the state intervened extensively in the economy by setting high tariffs, providing public subsidies, assuming the costs of research and development, and ensuring adequate consumer demand through government spending. But in the Global South, where state support for industry was foreclosed by centuries of formal and informal colonialism, it has been more profitable for capitalists to export cheap agricultural goods than to invest in high-technology manufacturing. The profitability of new technologies also depends on the cost of labor. In the North, where wages are comparatively high, capitalists have historically found it profitable to employ labor-saving technologies. But in the peripheral economies, where wages have been heavily compressed, it has often been cheaper to use labor-intensive production techniques than to pay for expensive machinery.

Of course, the global division of labor has changed since the late nineteenth century. Many of the leading industries of that time, including textiles, steel, and assembly line processes, have now been outsourced to low-wage peripheral economies like India and China, while the core states have moved to innovation activities, high-technology aerospace and biotech engineering, information technology, and capital-intensive agriculture. Yet still the basic problem remains. Under neoliberal globalization (structural adjustment programs and WTO rules), governments in the periphery are generally precluded from using tariffs, subsidies, and other forms of industrial policy to achieve meaningful development and economic sovereignty, while labor market deregulation and global labor arbitrage have kept wages extremely low. In this context, the drive to maximize profit leads Southern capitalists and foreign investors to pour resources into relatively low-technology export sectors, at the expense of more modern lines of industry.

Moreover, for those parts of the periphery that occupy the lowest rungs in global commodity chains, production continues to be organized along so-called pre-modern lines, even under the new division of labor. In the Congo, for instance, workers are sent into dangerous mineshafts without any modern safety equipment, tunneling deep into the ground with nothing but shovels, often coerced at gunpoint by U.S.-backed militias, so that Microsoft and Apple can secure cheap coltan for their electronics devices. Pre-modern production processes predicated on the “technology” of labor coercion are also found in the cocoa plantations of Ghana and Côte d’Ivoire, where enslaved children labor in brutal conditions for corporations like Cadbury, or Colombia’s banana export sector, where a hyper-exploited peasantry is kept in line by a regime of rural terror and extrajudicial killings overseen by private death squads.

Uneven global development, including the endurance of ostensibly “feudal” relations of production, is not inevitable. It is an effect of capitalist dynamics. Capitalists in the periphery find it more profitable to employ cheap labor subject to conditions of slavery or other forms of coercion than they do to invest in modern industry.”

Capitalism, Global Poverty, and the Case for Democratic Socialism by Jason Hickle and Dylan Sullivan