Poorer Nations Thrive by Importing Secondhand Machines, Boosting Economies
The article explores how international trade in second-hand machines affects countries. It uses theoretical and mathematical methods, along with some real-world data. The research shows that countries with lower wages tend to specialize in using older machines due to price differences. This trade in second-hand machines is common, with countries specializing in different types of machines. The study suggests that this specialization is driven by factors like wage rates.