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Q. Illustrate the reasons for the economic "miracle" of the East Asian countries between 1960 and 1997. Is it only due to the common Asian practice of industrial policy and business-government cooperation?
Answer: Students must emphasize high rates of savings and investment rapidly improving educational levels between the work force and a high degree of openness to and integration with world markets.
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review the general equilibrium conditions under autarky and given free trade using the opportunity cost theory of trade
defination, types
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