China's recent experience supports the proposition that
A) "economic miracles" are solely to be expected in small countries.
B) central planning and socialism can promote sustained economic growth.
C) a lessening of income disparities is a prerequisite for economic growth.
D) growth in a large country cannot be affected by its foreign sector.
E) policy changes can dramatically prompt export oriented growth.

Question

Quizplus · Accepted Answer

China's economic growth in recent years has been largely due to policy changes that shifted the country towards an export-oriented economy. This includes measures such as opening up to foreign investment, deregulating markets, and investing in infrastructure. Income disparities have also widened during this period, indicating that it is not necessarily a prerequisite for economic growth. Central planning and socialism have not played a significant role in China's recent success. China's large foreign sector has also been a key driver of growth. While economic miracles may be more common in smaller countries, China's experience shows that policy changes and a focus on exports can lead to sustained economic growth in a large country as well.

China's Recent Experience Supports the Proposition That