In the 1950s, Japan held a prominent position as a low-cost manufacturer and gained abnormal profits through international sales. In a span of three decades, Japan became one of the world’s pioneers of “quality” in products and services. However, in the last decade or two, China has gained a prominent position and has replaced Japan – in terms of low manufacturing cost – and has improvised its position from a low-cost provider to the pioneer.
Stock Market Unit Root Bilateral Trade Free Trade Agreement Ming Dynasty
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