China Is Developing Its Economy Based on Natural Resources and Cheap

question 120

True/False

China is developing its economy based on natural resources and cheap labor while India is relying on the brainpower of its people.

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Definitions:

Oral

Relating to the spoken word or communication by mouth, as opposed to written or non-verbal means.

Writing Requirement

A legal principle stating that certain kinds of contracts or agreements must be in writing to be enforceable.

Promissory Estoppel

A legal principle that prevents a party from retracting a promise which the other party has reasonably relied upon to their detriment.

Oral Contracts

Agreements between parties that are made verbally and not recorded in written form, yet are still legally binding under certain conditions.