In Recent Decades China Relaxed Its Laws Against Private Property

question 14

Essay

In recent decades China relaxed its laws against private property ownership.How did this affect economic growth,and why?

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Definitions:

Native-born Workers

Refers to individuals born in the country in which they are working, as opposed to foreign-born workers or immigrants.

Immigration

The movement of people into a country in order to live or work there, which is often permanent or long-term.

Equilibrium Wage

The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers.

Illegal Immigration

The act of moving to another country without legal permission or overstaying a visa.