It has been argued that with freer markets, Third World nations are now able to attract capital
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It has been argued that with freer markets, Third World nations are now 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 apocalyptic scenario.
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Related Book For
Foundations Of Multinational Financial Management
ISBN: 9780470128954
6th Edition
Authors: Alan C Shapiro, Atulya Sarin
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