Many home buyers have been shut out of the property market on the mainland because of government steps to cool the domestic property market for fear that surging housing prices could hurt social stability.
The effect, Mr Lardy points out, will be to prevent China from, for instance, continuing to keep domestic wheat prices far above world market levels.
Under rules of the World Trade Organization, a country can apply anti-dumping import tariffs when it can prove that imported goods were sold at below-market prices and caused damage to domestic industry.
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However, the domestic market for natural gas will soon be saturated with such high levels of production and low domestic prices.
These restrictions, the panel said, allowed Beijing to inflate global market prices, while giving an advantage to domestic producers.
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It is reasonable to expect that such exports, like previous Soviet efforts to market goods such as tractors produced with labor costs that bear little relation to real market prices, could cut into U.S. export market shares as well as our own domestic market -- with all that portends for American jobs and trade balances in the future.
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As a result, domestic manufacturers whose prices would be much more competitive if China allowed the market to set the value of its currency go out of business.
The combination of a weakening labour market, slipping house prices, tighter credit and higher fuel costs will weigh on domestic spending.
Despite the pending lifting of the grain export ban, scheduled to go into effect on July 1, the Central Bank of Russia does not expect domestic food prices to rise in response to more of Russian agribusiness shipping grains abroad instead of serving the local market.
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Its revenues are among the lowest per barrel of production among large energy concerns because Chavez kept the domestic price of gasoline at thirteen cents a gallon and delivered energy to Cuba, Nicaragua, and Bolivia well below market prices.
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