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China and India for some years now have been experiencing very rapid non-inflationary and export-led growth that is reminiscent of the way that Germany and Japan changed the global economic landscape in the 1960s and 1970s. The traditional and most popular story narrates how a group of landowners hold political power during the export-led growth period in Argentina. This was evidenced by the astonishing success of Taiwan, South Korea and others that pursued trade liberalization and export-led growth. |
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