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Due to the economic liberalization processes and the ongoing opening of the Chinese economy for foreign trade and investment, which have been carried out since 1980, Chinese consumer goods markets have been transformed from sellers markets into buyers markets throughout the last years. In such...
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richer workers demand more low skill-intensive services (such as cleaning and personal services) but also more skill …-intensive services (such as education and professional services). The parametrization of a simple model suggests that this induced demand …
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