International Trade History (Scenario)

International Trade History (Scenario)
The history of international trade is the subject of a report presented by Patrick Hinojosa to his international business class. Patrick addressed how the GATT impacted world trade, and how trade barriers have gradually disappeared. He described the protectionist policies implemented by Latin America during the 1950s. Patrick wrapped up his report by citing the rapid economic growth of Singapore, Hong Kong, and Taiwan during the 1970s and the post-World War II Japanese miracle.
-Which of the following best describes the "Japanese miracle" cited by Patrick in his report?

A) Japan's rise as a major nuclear power in the latter half of the twentieth century
B) the phenomenal success of foreign MNCs in Japan
C) Japan's rise from poverty in the 1940s to one of the world's wealthiest countries by the 1980s
D) the success of small firms in Japan prior to the 1940s