POST COLD WAR WORLD
RISE OF CHINA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a-b-c
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c-b-a
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b-c-a
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None of the above
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Detailed explanation-1: -In 1978, China adopted the ‘Open Door’ policy in its economy. 2.In 2001 China became a member of the World Trade Organisation and opened her economy to other countries of the world.
Detailed explanation-2: -The Chinese did not go for ‘shock therapy’ but opened their economy step by step. The privatisation of agriculture in 1982 was followed by the privatisation of industry in 1998. Trade barriers were eliminated only in Special Economic Zones (SEZs) where foreign investors could set up enterprises.
Detailed explanation-3: -The four ways by which the new economic policy of China benefitted its economy are : Privatisation of agriculture led to a remarkable rise in agriculture production and rural incomes. The rural industry too grew due to high personal savings in the rural economy. The SEZs led to a phenomenal rise in foreign trade.
Detailed explanation-4: -The Four Modernizations (simplified Chinese: ; traditional Chinese: ) were goals first set forth by Deng Xiaoping to strengthen the fields of agriculture, industry, defense, and science and technology in China.