Bela Balassa

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He was an important thinker on exchange rates, and explained why life was in some important ways cheaper in poor countries.

 

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I haven't studied the issue, but high levels of income inequality in the population could possibly contribute. The prevailing wage for low skilled service would be within the means of the middle class. Hong Kong has one of the highest gini coefficients. https://www.cia.gov/library/publications/the-world-factbook/rankorder/21...

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Ok, HK is not a country! Maybe there are better examples.

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