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In Qing China

question 6

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In Qing China,


Definitions:

Trade Deficit

A situation that occurs when a country's imports exceed its exports during a given time period.

Absolute Advantage

The ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than any competitor.

Trade Deficit

A situation occurring when a country's imports of goods and services exceed its exports, indicating a net outflow of domestic currency to foreign markets.

Major Trading Partners

denotes the most significant countries with which a particular nation conducts a considerable portion of its imports and exports.

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