Question: According to the World Competitiveness Report 1994 with freer markets
According to the World Competitiveness Report 1994, with freer markets, Third World nations now are able to attract capital and technology from the advanced nations. As a result, they can achieve productivity close to Western levels while paying low wages. Hence, the low-wage Third World nations will run huge trade surpluses, creating either large-scale unemployment or sharply falling wages in the advanced nations. Comment on this scenario.
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