I-Market Market Crash ka-1985

Ifoto © Metallo-Chimique NV

Ngo-Oktobha ka-1985, i-International Tin Council (i-ITC) yamemezela ukuba yayingenayo imali, ayikwazi ukuhlawula amatyala ayo ayenziwe ngetayiti yomzimba kunye nokuthengwa kwexesha elizayo.

Amatyala enkundla yamazwe ngamazwe adlala kwiminyaka emithathu ezayo, njengabathengisi bensimbi kunye neebhanki ezazama ukubuyisela ilahleko zabo, ziza kubonisa ukuba i-ITC iqokelele amatyala angama-£ 900 yezigidi (i-US $ 1.4 billion), ngaphezu koyena mntu wayeyicinge.

Nangona ababolekisi bebekwe kwinqanaba leeninzi ezi lahleko, i-market ye-thim ephela ngokuphumelelayo yachithwa, nto leyo eyenza ukuvalwa kwam kunye namashumi amawaka elahleko lomsebenzi ehlabathini lonke.

Yintoni eyabangela ukubola kwe-ITC kunye ne-International Tim Market?

I-ITC yaqulunqwa ngo-1956 njengengalo yokusebenza yeSivumelwano saMazwe ngamazwe (i-ITA), umbutho wezinto ezinomdla kwixesha elide leemarike zehlabathi.

Iinjongo ze-ITA zilula kodwa zishiya indawo enkulu yokungahambelani phakathi kwamalungu awayemela umvelisi weeyile kunye neentlanga zabathengi. Phakathi kweenjongo zayo eziphambili kwaku:

  1. Ukuthintela okanye ukunciphisa ukusweleka kwengqesho kunye nezinye iingxaki ezinzima ngenxa yokunqongophala okanye ukunikezelwa kwamanye amazwe kwiimarike zamanye amazwe
  2. Ukuthintela ukuguqulwa okukhulu kwexabiso le-tin
  3. Qinisekisa ukubonelelwa kwezinto ezinokwaneleyo kwixabiso "elifanelekileyo" ngamaxesha onke

I-ITC inikwe izixhobo ezimbini zokulungiselela ukufezekisa ezi njongo:

  1. Ulawulo lokuthumela ngaphandle
  2. Isitampu se-tampon ye-tin

Ngokwenza oko, isitokisi se-tampu sisetyenzisiwe kumlinganiselo ogqithiseleyo kunokuba ulawulo lwamazwe angaphandle, olungaxhaswanga ngokupheleleyo kwaye lukhuni ukunyanzelisa.

Indlela i-stock buffer eyasebenza ngayo yayiquka ukuthenga i-tik kwiimarike zamazwe ngamazwe xa amaxabiso awela ngaphantsi komgangatho ojoliswe ngumbutho ukwenzela ukuxhasa amaxabiso.

Ngokufanayo, i-Buffer Stock Manager yayiza kuthengisa izinto xa amaxabiso adlulileyo kwixabiso elijoliswe kuyo.

Bobabini abavelisi kunye namazwe angabathengi babone iingenelo kule marike ezithengisa intengo.

Uphuhliso olubalulekileyo

Ngowe-1965, i-ITA yanika amandla eBhunga ukuboleka iimali zokuthengwa kweempahla ze-tin.

Emva kokusayinwa kwe-4 ye-ITA ngo-1970 (isiVumelwano savuselelwa kwiminyaka emi-5 ukususela ngo-1956), iSivumelwano saseKomkhulu sasayinwa neRhulumente wase-UK owawunikwe iBhunga lokhuseleko lomthetho oluvela kummandla kunye nokusebenza njengoko kusetyenziswe imisebenzi Sixeko saseLondon.

Ngesi-5 se-ITA (1976-1980), isibonelelo seminikelo yokuzithandela kwisitokisi esithengiweyo kumazwe angabathengi ngokufanelekileyo savumela ukuba ubungakanani besitokisi se-tin bephindwe kabini. I-US, ebeneminyaka emininzi ithatha izinto ezincinci ze-tin ukususela ngeMfazwe Yehlabathi II kwaye sele ingavumi ukungena kwesi siVumelwano kwaye yagqitywa kwakhona kwi-ITA njengelizwe lomthengi.

Ukufikelela ekupheleni kwe-ITA yesi-5, nangona kunjalo, ukungavumelani malunga neenjongo kunye nobubanzi beSivumelwano kwabangela ezininzi iintlanga ezithatha inxaxheba ukuba ziqale ukusebenza ngaphandle kwe-ITA, ngokungenelela ngokuthe ngqo kwi-market ye-tan kwimfuno yabo: I-US yaqalisa ukuthengisa i-tin i-strategic stockpile, ngoxa iMalaysia yaqala ukuthenga isinyithi ukuxhasa amaxabiso.

I-Play Play yaseTalaysia

NgoJuni ka-1981, phantsi kolawulo lomthengisi weempahla uMarc Richie no-Co, urhulumente waseMalasian Mining Corporation wamisa inkxaso ukuze athengise ngasese ikusini kwi-London Metal Exchange (LME). Ezi zinto zithengiweyo, ezixhaswa ngemali yibhanki yaseMalaysia, zenzelwe ukuxhasa amaxabiso angamazwe ngamazwe ngensimbi, eyayicinezelekile ngokunyuka kwehlabathi, ukubuyiswa kwetay enkulu kunye nokufakwa endaweni ye- aluminium nge-tin kwiimfuno zokupakisha.

Ngethuba xa kuthengwa kweMalaysia yezivumelwano zexesha elizayo kunye neengxowa zomzimba zikhangeleke ukuba ziphumelele, nangona kunjalo, i-LME yatshintsha imigaqo yayo yokungabhalisi, ukuvumela abathengisi abancinci ukuba banqamle ikhonkco, kwaye kubangele ukuba behla ngokukhawuleza kwixabiso le-tin malunga nama-20 ekhulwini.

U xinzelelo loKwakha

ITA ye-6, eyayifuneka isayinwe ngo-1981, yayilibazisekile ngenxa yebudlelwane obubi phakathi kwamalungu.

I-US ayinanomdla kwi-ITC elawula ukuthengiswa kwe-tin ukusuka kwisicwangciso sayo esicwangcisiweyo kunye nokushiya kwesiVumelwano kunye neBolivia, isizwe esivelisayo.

Ukurhoxiswa kwala mazwe nabanye, kunye nokuthunyelwa kwamanye amazwe kumazwe angewona malungu, njengeBrazil, kwakuthetha ukuba i-ITA ngoku nje imelwe malunga nesiqingatha seemarike zehlabathi, xa kuthelekiswa nama-70 ekhulwini kwiminyaka elishumi ngaphambili.

Amalungu angama-22 asayine i-ITA yesithandathu ngo-1982 avotela ukuthenga iitoni ezingama-30 000 zeempahla, kunye nokuboleka imali ukuthenga imali enye yentsimbi ye-20,00 yeetsimbi.

Ngomzamo ongathandabuzekiyo wokunciphisa amaxabiso awa, i-ITC iphinde imisele ukulawulwa kwamanye amazwe, kodwa oku kwakungekho nto iyenzayo, njengoko ukuveliswa kwe-tine yehlabathi kwidlulile ukusetyenziswa ukususela ngowe-1978 kwaye umbutho wawusebenzisa amandla angaphantsi.

Ibhunga linqwenele ukungenelela ngakumbi ngokuthenga ii-futures zangasemva kwiLME.

Imizamo yokukhohlisa amakhulu angewona amalungu ukuba angene kwiSivumelwano asiphumelelanga kwaye ngo-1985, ekuqapheliseni ukuba umgangatho wexabiso langoku awukhuseli ngonaphakade, i-ITC inesigqibo sokwenza malunga nokuqhubeka nokuqhuba iinjongo zayo.

IMalaysia, umvelisi omkhulu kunye nelizwi elinamandla kwiBhunga, iinzame ezenziwe ngamanye amalungu ukunciphisa umgangatho wexabiso, obekwe kuma-ringgits aseMalaysia. Inyaniso yokuba ixabiso elijoliswe kulo libekwe kwii-ringgits, ngokwalo, ibeka ingcinezelo eyongezelelweyo kwi-ITC, njengoko ukuguqulwa kwezinga lokutshintshana ekuqaleni kuka-1985 kwaphumela ekuhlahlokeni kwexabiso leTIM.

Olu phawu lubeka imithintelo yezemali kubathengi be-ITC abathengi-toni ababambe isinyithi njengobuncwane-kuphela xa iBhunga lalingekho phantsi kwemali.

I-Market Market Crash

Njengamahemuhemu eemeko zezezimali ze-ITC zaqala ukusabalalisa, iBhunga leMpahla yeCandelo leNkundla yeCandelo leMpahla, elinoyiko lokuwa kweemakethe, lancenga amalungu ukuba aqhubeke nokuxhasa ukuthengwa kweempahla ze-tin.

Kodwa kwakungelula kakhulu. Iimali ezithembisiwe azizange zifike, kwaye kusasa ngo-Oktobha 24, 1985, i-Buffer Stock Manager icebise i-LME ukuba yayimisa imisebenzi ngenxa yokungabikho kwemali.

Ngenxa yobukhulu beemeko, zombini i-LME kunye neKuala Lumpur Commodity Exchange ngokukhawuleza yanyanzela ukuthengiswa kweenkontileka zetini. Izivumelwano ze-Tin aziyi kubuya kwi-LME eminye iminyaka emithathu.

Njengamalungu akakwazanga ukuvumelana ngesicwangciso sokuhlangula i-ITC, ukuxhatshazwa kwandiswe kwiLME, iSixeko saseLondon kunye neemarike zentsimbi yehlabathi.

Ngoxa amalungu eBhunga aphikisana, i-tan yemakethe yokumisa. Iimithi zaqala ukuvala kwaye, ezingenakukwazi ukuhlangabezana neembopheleleko, abadlali abakhulu baphoqelelwa ukuba bangene kwi-bankruptcy. Ixabiso lentsimbi, okwangoku, impumlo-idilesi esuka kwi-US $ 6 ngeepounds ukuya ngaphantsi kwe-$ 4 nganye.

Urhulumente wase-UK waphoqelelwa ukuba aqalise uphando olusemthethweni olugqityiweyo ekugqibeleni ubukhulu belahleko ze-ITC. Amatyala amaninzi eBhunga ngo-Oktobha 24, 1985, afumaneke ukuba yi-£ 897 yezigidi (US $ 1.4 billion). Ukuthengwa kwempahla kunye nokuthengwa phambili bekude kunamalungu agunyazisiweyo kunye neetoni ezili-120 000 zeetin-ezisibhozo zenyanga zokubonelela ngehlabathi-kuya kufuneka zilinganiswe kwaye zihluthwe.

Njengoko iimfazwe ezisemthethweni zenzeke, i-market ye-tan yayingxakini.

Ngethuba elilandelayo emva kokuwa kweBhunga le-International Tin, iMalaysia yavala iipesenti ezingama-30 zeemayini zayo, zaqeda imisebenzi engama-5000, iipesenti ezingama-40 zeemigodi zaseThailand zivaliwe, zachithwa imisebenzi engama-8500, kwaye imveliso ye-toni yaseBolivia yaba ngeyesithathu, okwabangelwa ukulahlekelwa yimisebenzi engama-20,000. Abadayisi abangama-28 be-LME baxakeka, ngelixa abanye abathandathu beyeke ukutshintshiselana. Kwaye isiqendu sikaRhulumente saseMalaysia sokunyusa ixabiso lesitimu saphelela ukubiza ixabiso elizweni nge-US $ 300 yezigidi.

Ngethuba lothuli lugqityiweyo kumacala omthetho malunga ne-ITA kunye namazwe alo malungu, kwafika ukuhlawulelwa okubakho ababolekisi baqokelela i-half-half of their losses.

Imithombo:

I-Mallory, i-Ian A. Ukuziphatha okungafanelekiyo: Ukuguquka kweSivumelwano saMazwe ngamazwe. Ukuhlolwa koMthetho wamazwe ngamazwe waseMelika . Umqulu 5. Issue 3 (1990).
URL: http://digitalcommons.wcl.american.edu
Roddy, uPetros. I-International Trade Trade . Elsevier. Juni 30, 1995
Chandrasekhar, Sandhya. I-Cartel kwiCan: I-Financial Collapse ye-International Tin Council. I-Northwestern Journal ye-International Law & Business . Ukuwa kwe-1989. 10 Inkcazo 2.
I-URL: abafundi bee-scholarlycommons.law.northwestern.edu