SSC
WORLD HISTORY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The economy was slowly recovering after Warring States period
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The economy continued to be the most powerful in the world
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The economy was coming under European influence after the Unequal Treaties
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The economy rapidly declined at the hands of the Mongol empire
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Detailed explanation-1: -Since China began to open up and reform its economy in 1978, GDP growth has averaged over 9 percent a year, and more than 800 million people have lifted themselves out of poverty. There have also been significant improvements in access to health, education, and other services over the same period.
Detailed explanation-2: -In addition, state price controls on a wide range of products were gradually eliminated. Trade liberalization was also a major key to China’s economic success. Removing trade barriers encouraged greater competition and attracted FDI inflows.
Detailed explanation-3: -The economy will expand 5.2 percent this year, according to our latest projections, versus 3 percent last year. That’s good news for China and the world as the Chinese economy is now expected to contribute a third of global growth this year. Even so, China still faces significant economic challenges.