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Is the following statement true false or uncertain? Economic growth in China will always make China...

Is the following statement true false or uncertain? Economic growth in China will always make China better off, but make its trading partners, like the United States, worse off. You must explain the reason for your answer and illustrate your answer with any relevant diagrams.

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Answer #1

The given statement is False.

Note that economic growth in China will always make China better off. However, partners trading with China, like the United States may or may not be at a worse off situation. In fact, in most of the scenarios, the trading partners will also benefit from the economic growth of China. With the economic growth in China, the per capita income will also go up leading to a higher level of demand for not only domestic products and services but also for the products and services being produced by the United States. As the demand goes up, there will be more exports from the United States to China and thus the United States will also be in a better situation than earlier.

Thus, the given statement is False.

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