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Many countries have low-to-no regulation and cheap labour, and they remain poor. China also made a concerted effort to keep its currency artificially low so th
by Pxtl 7y ago
Many countries have low-to-no regulation and cheap labour, and they remain poor. China also made a concerted effort to keep its currency artificially low so that Chinese labour would remain cheap and Chinese people would be discouraged from buying foreign-made goods. While more subtle than tariffs, the effect was protectionist.
- taffer 7y agoMany countries have higher tariffs and trade barriers, and they remain poor.
- eru 7y ago> Many countries have low-to-no regulation and cheap labour, and they remain poor. Please name some. And to be clear, it's the amount and _complexity_ of interference in practice that counts. Ie both in India and China bribes were common, but from what I heard in China your company actually got what they were promised after paying the bribe.