Bénassy-Quéré, Agnès (contributor); … - 2005
extension of Krugman
(1980) to the case of four countries (the United States, the Eurozone, OPEC and China) and
only one … trade account due to the relatively high share of China in OPEC imports. To the
extent that there is some diversification of … OPEC will progressively use their accumulated
wealth to import more goods from industrial countries. Hence in the long run …