" Although all the major industrial countries and a multitude of business units participate in the world trade in chemicals, the forces of free competition do not rule the world markets. The techniques of business diplomacy frequently supplement and in some instances have supplanted independent decision making by separate producers in response to free market forces. The geographic and industrial areas within which particular companies will operate, the scale of their output, the prices of their products, the use or nonuse of their technology, have increasingly become objects of negotiation, subjects of national and international agreement. More and more the conference table has been taking the place of the market as a regulator if the chemical industries. "

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