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International labor division is the efficient and effective distribution of work tasks among countries. It leads to specialization in producing goods or services, exporting them, and importing other products. International labor division stimulates economic growth and increases productivity. In 2020, global trade volume approached $19 trillion. China is a prominent example in the world economy, being one of the major production centers and reaching an export volume of $3.36 trillion in 2021

#economic growth#international labor division#neoclassical theory

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