Agro Commodities & Agricultural Produts

Question by Jack P: Un-puzzle me about the relationship between currency and value?
During the ’60s I was taught every unit of currency was determined by market value of:

1] a unit of labor,
2] a unit of raw material
3] a processed raw material
4] a combination of 1], 2], or 3] in a manufactured product.
5] an agricultural commodity

Item 3] was considered of highest value because of the sub-catagory ‘skill’.

A national entity operating in isolation might control those values. But when import is involved, currency value must equal export equivalent of something of equal value.

My question: What are the product equivalents of US currency exchanged for Asian manufactured product imports and East Asian petroleum?
Sorry. I should have said ‘west Asian’ petroleum.

Best answer:

Answer by southron2002
This may help your search:

http://www.wto.org/english/res_e/statis_e/its2002_e/chp_0_e.pdf

What do you think? Answer below!