China's transition to market capitalism has been characterized by:
A) three tiers to its economic system.
B) free market exchanges for all production.
C) very slow economic growth.
D) increasingly decentralized decisionmaking.

Question

Quizplus · Accepted Answer

China's transition to market capitalism has been characterized by increasingly decentralized decisionmaking, as the government has gradually given more autonomy to state-owned enterprises and allowed for private businesses to thrive. This has helped to drive economic growth and modernization in China. The other choices are not accurate - China's economic system is often described as having multiple tiers, with a mix of state-owned and private enterprises; free market exchanges are not widespread in China; and China has experienced relatively high rates of economic growth over the past several decades.

China's Transition to Market Capitalism Has Been Characterized By