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Productivity growth in one country affects the relative income and welfare of its trade partners
Benny Kleinman, Ernest Liu and Stephen J. Redding September 2020
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Tags: china; productivity; globalisation; political tension

One of the most dramatic changes in the world economy over the past half century has been the emergence of China as a major force in world trade. A central question in international economics is the implications of such economic growth for the income and welfare of trade partners. A related question in political economy is the extent to which these large-scale changes in relative economic size necessarily involve heightened political tension and realignments in the international balance of power.