WORLD WAR II
DECOLONIZATION PHASE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gorbachev
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Deng Xiaoping
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Gandhi
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Bolivar
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Detailed explanation-1: -The reforms carried out by Deng and his allies gradually led China away from a planned economy and Maoist ideologies, opened it up to foreign investments and technology, and introduced its vast labor force to the global market, thus turning China into one of the world’s fastest-growing economies.
Detailed explanation-2: -Since the introduction of Deng Xiaoping’s economic reforms, China has what economists call a socialist market economy – one in which a dominant state-owned enterprises sector exists in parallel with market capitalism and private ownership.
Detailed explanation-3: -Since the beginning of Deng Xiaoping’s reforms, China’s GDP has risen tenfold. The increase in total factor productivity (TFP) was the most important factor, with productivity accounting for 40.1% of the GDP increase, compared with a decline of 13.2% for the period 1957 to 1978-the height of Maoist policies.
Detailed explanation-4: -The transition of the country’s economic system from a command to a market-based economy helped fuel a strong average growth. Between the start of an economic reform program in 1978 and 1995, the GDP growth was 8.0 percent a year.