According to The World Competitiveness Report 1994, with freer markets, Third World nations are now able to attract capital and technology from the advanced nations As a result, they can achieve...

According to
The

World Competitiveness Report 1994
, with freer markets, Third World nations are now able to attract capital and technology from the advanced nations As a result, they can achieve productivity close to Western levels, while paying low wages Hence, the low-wage Third World nations will run huge trade surpluses, creating either large-scale unemployment or sharply falling wages in the advanced nations Comment on this apocalyptic scenario