Before the 1980s, China did not trade internationally: It was self-sufficient. Then China began to trade internationally

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Before the 1980s, China did not trade internationally: It was self-sufficient. Then China began to trade internationally in, among other items, coal and shoes. The world price of coal was less than China’s domestic price and the world price of shoes was higher than its domestic price.

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Foundations Of Microeconomics

ISBN: 9780063076280

7th Global Edition

Authors: Bade, Robin;Parkin, Michael

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