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asked ago in General Economics Questions by (240 points)
In terms of an institutionalized economy, some great nation of the ancient mode of civilization  can never be really an institutionalized market for the world economy while indeed it can be open as an institutionalized technology for the world economy. The decades of globalization have been thus evolved such that some other nations have been enjoying low prices of products while suffering the loss of the technology of industries and the polarization of the society.  The global inflation of these days indicates the reverse of the development and  there will be a long period of adjustments. As the matter is of time and structure, unless certain strategic measures are well-planned, short-term monetary and fiscal policies can do little to the matter. Moreover, without a solid and structured technology of supply, fiscal policy has long lost its basis or usefulness.

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