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China's population is 1,440 million; Australia's is 25.9 million. Explain and illustrate how, by each specialising in their comparative advantage, both nations can gain by

China's population is 1,440 million; Australia's is 25.9 million. Explain and illustrate how, by each specialising in their comparative advantage, both nations can gain by trading with one another. Pay particular attention to how the price mechanism in international trade leads to a change in production and consumption choices for both nations.

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