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Correct, the lower priced international goods help give the population of developing countries more purchasing power with their low wages, but at the cost of th
by m12k 6y ago
Correct, the lower priced international goods help give the population of developing countries more purchasing power with their low wages, but at the cost of those wages never going up significantly. They get stuck in a local optimum - and unfortunately, yes, in order to escape from one of those, the first steps will always be toward something less optimal.