8. Consider the supply and demand for a general good in both the United States and China. Suppose the two countries are allowed to engage in free trade and the transaction costs of trade are zero. Graph China's excess supply and the U.S.'s excess demand curve in the middle graph. Indicate the world price resulting from trade, exports from China, and imports to the United States.

World Price = ______ U.S. Imports = ______ Chinese Exports = ______