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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Related Book For
Principles Of Macroeconomics
ISBN: 9780465016150
1st Edition
Authors: Joseph G. Nellis, David Parker
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