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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.
Suppose that industry 1 is monopolistically competitive, with a CES sub-utility function: U(c1,c2 ) = c1? + c?2 , 0 We let the marginal costs be denoted by c1(w,r), and the fixe
who promotes globalization
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How can we Rise of intraindustry trade
different between her barter terms of trade and net barter terms of trade
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