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The traditional trade theory predicts that trade in goods perfectly substitutes for direct movement of factors. This equivalence between goods trade and factor movements, however, depends crucially on assumptions about the production. This paper establishes necessary and sufficient conditions...
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U.S.-China relations have entered a period best characterized as an era of increased tension with aspects of strategic … programs, and the South China Sea. Despite these tensions, China and the United States have increased their cooperation and …
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