Since the early 1980s China has opened up its economy to market forces and interna- tional trade

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Since the early 1980s China has opened up its economy to market forces and interna- tional trade after 30 years of central planning. In 2002 it became a member of the World Trade Organisation (WTO) and agreed to remove various import protection measures. In the light of the law of comparative advantage, how would you expect production and trade in China to alter over the coming years and why?

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Principles Of Macroeconomics

ISBN: 9780465016150

1st Edition

Authors: Joseph G. Nellis, David Parker

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