China s recent transition to a market economy is arguably the China’s recent transition to a market economy is arguably the greatest modern economic success story. What sorts of policies have made China’s incredible economic growth possible? How have China’s citizens benefited from this growth? What additional reforms are needed if China is to sustain its strong economic growth well into the future? China s recent transition to a market economy is arguably the
China s recent transition to a market economy is arguably the
China’s recent transition to a market economy is arguably the greatest modern economic success story. What sorts of policies have made China’s incredible economic growth possible? How have China’s citizens benefited from this growth? What additional reforms are needed if China is to sustain its strong economic growth well into the future?
China s recent transition to a market economy is arguably the
Answer -
Economic policies have made China’s incredible economic growth possible -
1. Availability of cheap labor - With having the largest population in the world china can provide the cheap labor which help manufacturers ti reduce the cost of the product and make it more competitive market.
2. Availability of cheap land - China has very large industrial land bank under which industries provided large amount of land for manufacturing purposes or business activity. Which attracts business to work in china.
3. Export orienting policy - China provides the incentives to firm which manufacturer in china and export from china. This helps china to become exporting hub in world.
4. Business-friendly policy - China provide other business-friendly policies that help them to economic power.
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