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Question 12 (1 point) What change led China to huge economic growth? a adopting free market policies b establishing itself as a major oil exporter c establishing political liberty d closing free market centers

User Ali BARIN
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Final answer:

Huge economic growth in China can be attributed to the adoption of free market policies, which began with reforms in the late 1970s and transformed the country's economy into one of the world's fastest-growing markets.

Step-by-step explanation:

The change that led to huge economic growth in China was the adoption of free market policies. This transition commenced in the late 1970s under the leadership of Deng Xiaoping, who introduced a set of reforms known as the "Four Modernizations," targeting agriculture, industry, defense, and science and technology. These reforms dismantled collective farms, encouraged entrepreneurship, and opened China to foreign investment and trade.

Particularly, special economic zones (SEZs) were established, leading to rapid manufacturing development and urban growth, and attracting multinational corporations keen on tapping into the lower labor and overhead costs. These economic reforms were instrumental in transitioning China from a centrally planned economy to a more market-oriented economy, enabling China to become one of the world's fastest-growing economies and, by 2010, the world's second-largest economy.

User Masterofdisaster
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