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Economics - Macroeconomics - China

Question # 00002607
Subject: Economics
Due on: 10/24/2013
Posted On: 10/22/2013 11:02 PM

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High level answers are fine - bullet points perfectly ok.

1. Consider the following statement: “China’s current account surplus implies that China has added more to global supply of output than to global demand.” Does a current account surplus necessarily imply the stated outcome for global supply and demand?

2. Explain the role of China's administered exchange rate in contributing to its trade surpluses and therefore growth in the global supply of goods relative to demand.

3. We saw that exports from China have effectively lowered relative wages for unskilled and semi-skilled workers in advanced countries. What has been the effect on wages in China? Explain these forces in terms of the "factor price equalisation theorem" in international trade theory. Do these forces also apply to other factor prices?

4. Karl Marx said in 1867 in Volume 1 of "Capital" "..commodities are only definite masses of congealed labour time". To what extent is this true of the export of goods and services rather than by importing labour directly (immigration)

5. What are the underlying forces that have accelerated the process of globalisation in recent decades and are continuing to do so?

6. What specific policies could China and the US adopt to reduce their saving-investment imbalances and therefore their current account imbalances? What political obstacles would each country face in implementing each policy?

Tags china macroeconomics economics global china account supply demand current forces surplus factor imbalances wages explain labour trade goods chinas relative time true export congealed extent commodities said marx karl prices 0 volume definite

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Economics - Macroeconomics - China

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Posted On: 10/22/2013 11:03 PM
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Preview: require xxxxxxxxx labour xxxx At the xxxx time, the xxxxxx time xxxxx xxxx gets xxxxxxxx by many xxxxx reasons apart xxxx just xxx xxxxxxxxxxx This xxxxxxxx skills of xxx labourer, development xx technology, xxxxxx xxxxxxxxxxx of xxx worker, and xxxxxxxx conditions For xxxxxxxx keeping xxx xxxxxxx constant x workers psychological xxxxxxxxx to work xxx his xxxxx xx motivation xxxxx a great xxxxxxxxxx to the xxxxxx time xxxxx xx adds xxxxx producing something xxxxxx of these xxxxxxx get xxxxxxxxx xxxxxxxxx when xxx makes a xxxxxxxxxx between export xx goods xxx xxxxxxxx from xxx place to xxxxx (say A xx B) xxx xxxxxxxxx of xxxxxx force from x to B xx produce xxx xxxx goods xx services at x The biggest xxxxxxxxxx between xxx xxx above xxxxxxxxx situations is xxx difference of xxxxxxxxxx socially xxxxxx xxxxxxxxxx of xxxxxxxxxx at the xxx places Work xxxxxxxxxxx social xxxxxxxxxxxx xxxxxxxx conditions, xxxxxxxxxx changes when x worker migrates xx another xxxxx xx a xxxxxxx his labour xxxx input changes xx compared xx xxxx he xxx putting in xxxx he was xxxxxxxxx the xxxx xxxxxx at xxx original place xxxxx on the xxx environment xxx xxxxxxxx inputs, xxxxx of the xxxxxxx may go xx or xxxxx xxx it xxxxxxx for sure xxxx one can xxx create xxx xxxx value xxx a category xx products by xxxxxxxxx it xxxx xxxxxxx and xx importing the xxxxxx and producing xx locally x x What xxx the underlying xxxxxx that have xxxxxxxxxxx the xxxxxxx xx globalisation xx recent decades xxx are continuing xx do xxxxx xxxx the xxxxxxx of internet, xxxxxxxxxxx on is xxxxxxx accessed xxxx xxx to xxx on any xxx every topic, xxxxxxxxx the xxx xx globalization xxx to which xxxx nations expanded xxxxx global xxxxxxx xxxxx also xxxxxxxxx the economic xxxxxx The forces xxxxx accelerated xxx xxx still xxxxxxx the process xx globalization are:Enhanced xxxxxxxxx and xxxxxxxxxx xxxxx made xxxxxxxxxx and communication xxx sharing information xxxxxx around xxx xxxxx Development xx multinational companies xxxx a worldwide xxxxxxxxxxxxxxxxxxx of xxxxxxxxxxxxx xxxxxxx blocks xxxxx abridged national xxxxxxxx Abridged Tariff xxxxxxx fostering xxxxxx xxxxxxxxxxxxxxxx of xxxxxxxxxxxxx mediaGlobal Trade xxxxx The highly xxxxxx nature xx xxxxxxxxx system xxxxx made US xxxxx suffered losses xxxx the.....
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