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And what of the dozens of other countries with exceptionally low living standards but restrictive trade policies which remain poor? Cheap labour gave these cou
by Maktab 18y ago
And what of the dozens of other countries with exceptionally low living standards but restrictive trade policies which remain poor?
Cheap labour gave these countries an initial competitive advantage in certain forms of manufacturing, but it was trade that allowed them to make use of this and to gradually advance into more sophisticated manufacturing and services.