Question

Which measure was adopted by China to solve its economic crisis?

• A. Like USSR, China also followed 'Shock Therapy'.
• B. China ended its economic isolation with the establishment of relations with most of the developing countries of the World.
• C. China opened its economy for privatisation step by step for the development of its economy.
• D. China focused more on export as compared to import.

Hint:

To remember China's strategy: think of Deng Xiaoping's famous motto of reform --- “crossing the river by feeling the stones.” This denotes step-by-step, cautious pragmatic transition over sudden shock therapy.

Answer 1

The Correct Option is C