Over the Last 20 Years,describe China's Journey as It Raised

question 74

Essay

Over the last 20 years,describe China's journey as it raised its competitive stance in a global market.Offer suggestions on how China can move forward in the second decade of the 21st century.

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Definitions:

Comparative Advantage

The capacity of a person, business, or nation to create a product or offer a service with a lesser opportunity cost compared to its rivals.

Production

The process of creating goods and services through the combination of labor, materials, and technology.

Consumption

The use of goods and services by households or individuals.

Comparative Advantage

An economic theory stating that a country or individual can produce goods at a lower opportunity cost than their trade partners, leading to more efficient trade outcomes.