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The change in the mean value of labor is small with only 2.5% of annual growth rate. As for the trade volume, the mean values of both imports and exports jumped twofold, indicating Chinaâs increasing participation in international trade.
Though China's share of world trade is comparable to that of Japan, little is known about the response of China's trade to changes in exchange rates. The few estimates available suffer from two limitations. First, the data for trade prices are based on proxies for prices from other countries.