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A supporter of free-market policies would argue that the passage didn't liberalize the Chinese economy because only fourteen cities were opened for foreign investment and trade.
A free market is where the prices of goods and services are determined by the forces of demand and supply hence there's little government intervention.
Here, the prices for goods and services in a free market economy are self-regulated by buyers and sellers without any external interference.
Hence, a supporter of free-market policies would argue that the passage didn't liberalize the Chinese economy because only fourteen cities were opened for foreign investment and trade.
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