Question: Recently, a growing labor shortage has been causing Chinese wages to rise. If this trend continues, what would you expect to see happen to external

Recently, a growing labor shortage has been causing Chinese wages to rise. If this trend continues, what would you expect to see happen to external economy industries currently dominated by China? Consider, in particular, the situation illustrated in Figure How would change takeplace?

Price, cost (per button) Co AC CHINA AC VIETNAM WORLD Quantity of buttons produced and demanded Q,

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