Part of China's economic growth has been attributed to guanxi, which is:
A)A process of rapid acquisition and divestment.
B)Formal institutional structures.
C) The nouveau riche of China.
D) Interpersonal networks and relationships.

Question

Part of China's economic growth has been attributed to guanxi, which is:
A)​A process of rapid acquisition and divestment.
B)​Formal institutional structures.
C) ​The nouveau riche of China.
D) ​Interpersonal networks and relationships.

Quizplus · Accepted Answer

Guanxi refers to interpersonal networks and relationships, often built on reciprocity and mutual obligation. In China, these relationships have played a significant role in business transactions and access to resources, as trust and personal connections are often valued over formal institutional structures. Therefore, guanxi has been seen as a key factor in China's economic growth.

Part of China's Economic Growth Has Been Attributed to Guanxi