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mercantilism |
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Much of China's competitive advantage derives not from natural advantages like cheap labor but rather, in this writer's view, from overtly mercantilist policies such as a grossly undervalued currency and a myriad of direct and indirect export subsidies that blatantly violate world trade agreements. Consequently, one could desire an elaboration of the reasons for an attempted uprising against Spain in 1781 while the region prospered under Spain's mercantilist protections. China seems largely intent on what some describe as a mercantilist, as opposed to a purely market-oriented, strategy. |
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