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15 February, 21:30

Which of the following best describes China's status during the 1980s?

China was a reunified state.

China was a Communist power.

China was a democratic nation.

China was an independent state.

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Answers (2)
  1. 15 February, 21:53
    0
    The correct option is: "China was a Communist power."

    Since 1978, economic reforms began in two phases. The first phase, at the end of the 70s and the beginning of the 80s, involved the de-collectivization of agriculture, the opening of the country to foreign investment and the permission for entrepreneurs to start businesses. However, most of the industry remained static and inefficient, burdening economic growth. The second phase of the reform, at the end of the 80s and 90s, involved the privatization and contracting of most of the nationalized industry and the lifting of price controls, protectionist policies and regulations, although public monopolies in sectors such as banking and oil remained. The private sector grew remarkably, reflecting almost 70% of China's GDP for 2005, a larger figure compared to many Western nations.
  2. 15 February, 22:09
    0
    China was a Communist power
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