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Exact(38)
These sops would expand the production of tradable goods above what the market would dictate.
Some of its SMEs produce tradable goods and could export more.
But the real problem is an economy that produces few tradable goods.
They can't really be competitive in tradable goods – which includes not only exports, but also industries that compete with imports.
With little incentive for private sector investment in tradable goods, manufacturing was particularly hard hit, falling 7.2percentt in 2009.
That should give British producers of tradable goods and services a competitive edge both at home and in foreign markets.
Similar(22)
As the name suggests, non-tradable goods and services are not traded across long distances.
This appreciation encourages the Chinese to make more non-tradable goods and to buy more tradable ones.
Because firms compete for workers, this also pushes up wages in non-tradable goods and services, where rich countries' productivity advantage is smaller.
In most less well-off countries people find their money goes further than market rates would suggest because non-tradable goods are cheaper.
Rich countries have higher productivity than poor countries, but their advantage tends to be smaller in non-tradable goods and services than in tradables.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com