But the deterioration in the terms of trade can also generate its own momentum.
GDP, less than half the terms of trade loss from each of the 1970s oil price shocks.
Short of a big economic wobble in China, the terms of trade will stay at their highest level in 140 years.
Reverse the situation, the Dollar was stronger and so by simple definition U.S. goods lost an edge in the terms of trade.
Second, higher oil prices lead to a shift in the terms of trade that transfers income from oil consumers to oil producers.
It is precisely this kind of cruel twist in the terms of trade, Mr Sen argued, that can bring a community to its knees.
At the moment, the terms of trade favour publishers too much.
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In recent years the U.S. has improved relative to Japan in terms of productivity and the terms of trade, and the interest-rate differential has widened in America's favor.
The second idea, which followed on from the first, was that Labour so dominated the political landscape that it had changed the terms of trade on the issue of taxing and spending.
And I think there's also going to be maybe even an evening out of the terms of trade, because it's a myth to think we live in a world of free trade, of course.
Say Panasonic and LG got together and said they wanted all three TV makers to bargain as one in determining the terms of trade between Best Buy and any current and future TV manufacturers.
For although violent currency movements would be damaging, because they disrupt companies' investment plans and debt repayments as well as producing sudden shifts in the terms of trade, steadier movements are generally a consequence of something going on in the real economy.
The trade profile of such nations is complex and in hi tech, high value added products that cannot be replicated in a sweat shop must see the terms of trade have move an incredible amount if there is to be a serious deterioration in the export of high end products.
Zambia's unwise nationalisation of the mines in 1969 (as advised by the best of British development economists) may have contributed to declining copper production but population pressures, shifts in the terms of trade since the 1970s and a burden of debt to the West that originated then in recycled petro-dollars have contributed massively to the impoverishment of the country.
Chevron has also sued the country of Ecuador under the terms of a trade agreement between it and the U.S. Last week, a panel of arbitrators in The Hague ordered Ecuador to take "all measures at its disposal" to block enforcement of any ruling, both in Ecuador and overseas, until the panel rules on the case.
The former defence secretary Liam Fox will use a speech this morning to argue for an economic policy which he will argue would change the "terms of trade in the political debate".
The country's terms of trade - the price of its exports relative to its imports - has risen by more than 80% since 2000.
Still, Britain will find the terms of the diplomatic trade in Latin America have changed since a brief attempt at courtship 15 years ago.
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It will also surely demonstrate that her remarkable period in office laid the foundations for political debate thereafter and that one of her greatest achievements is that she altered the terms of political trade at home and overseas.
To many Burmese, however, Myitsone came to represent everything that they hate about the unequal terms of trade between resource-rich Myanmar and its resource-hungry neighbour.
Considered in the light of the usual (mercantilist) terms for judging trade deals, the arguments in favour of the Chinese agreement look overwhelming.
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If the home industry makes too much, it will depress the price of its exports on world markets, damaging the country's terms of trade, and hurting workers.
John Richards, of the Royal Bank of Scotland in Tokyo, points out that since inflation is almost entirely due to dearer food and energy, both of which Japan imports, rather than because of rising domestic demand, it reflects an unwelcome worsening of the country's terms of trade.
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While it is not yet possible to determine how large such profits will actually be -- the terms of some of the transactions now under negotiation with the USSR make the accounting procedures applied to leveraged buyouts look simple -- in terms of the overall national trade picture, they are likely to remain a drop in the bucket.
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"But Shanghai has always been known as the 'Paris of the East' and, even before that, the city was important in terms of trade, " he said.
Many of the foreigners' factories are there because investors in China sought a bolt hole: China has its own high tariffs, many countries limit imports from China, and trade was each year threatened by the annual debate in Congress over the terms of America's trade relations with China.
These included a bonus from the stabilisation, opening and reform of the economy in the 1990s, and a huge lift in the country's terms of trade, thanks to China's appetite for commodities.
But what I can tell you is the ones -- the actions that the Congress has taken that help economic growth and job creation, like the free trade agreements, like patent reform, are things that the President agrees with and has signed into law, or put a signature to in terms of the free trade agreements.
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