Bhide, Amar; Phelps, Edmund S. - 2015
China's trade surplus with the U.S. is now more than a quarter of the U.S. trade deficit and, with China growing faster … trajectory. The novelty derives from two features of underdevelopment shaping trade between backward economies like China and … advanced economies like the U.S. First, the initial comparative disadvantages in China are an artifact of the uneven technical …