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... g to survive. The only exception was Hardy Group, which had special privileges exempting it from the embargo. As a result, Hardy Group’s trade business grew explosively during this period. Nearly all raw materials for other companies had to go through Hardy Group, allowing it to earn profits from markups and indirectly control many industries.

This demonstrated that monopolies were incredibly lucrative. In just a few months, Hardy’s trading company in Hong Kong had earned a profit of ten ...

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