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March 8, 2014 |
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According to Elman, the non-machine|mechanized processes in agriculture and industry in China were so well developed and efficient that they outcompeted early mechanized processes, thus making capital investment in mechanization unprofitable. Category:Agriculture Category:History of China Category:Technology econ-stub This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "High level equilibrium trap".
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