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Brilliant Economics by Phil Thornton

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If you are reading this on a mobile device or an e-reader, please turn over the device and see where it was made. I will bet a pound to a penny it will say ‘Made in China’. Check the label on your t-shirt and there is a fair chance it was woven in Bangladesh. Most western families can probably find several hundred items made in China or elsewhere in the world in their home.

Trade is as old as civilisation itself. Cave paintings and archaeological remains indicate that humans have been trading with each other for thousands of years. Nor is international trade a new concept. The Silk Road provided a conduit for trade between China and the West ...

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