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Q. It has been claimed that the Chinese burst of modernization which has been propelling its manufactured exports throughout the world at an unprecedented rate, is made possible by the use of slave (penal) labor. If this is true should China have been accepted as a full fledged member of the WTO? Why (or why not)?
Answer: Yes.
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2. If a country's growth is biased in favor of its import, this should unequivocally improve its terms of trade and its economic welfare. Discuss. Answer: Suppose the Japan
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