One reason China has been able to grow so rapidly even though its financial development is still in its early stages is
A)the high savings rate of around 40%.
B)the shift of labor to the agricultural sector.
C)the stringent enforcement of financial contracts.
D)the ease of obtaining high-quality information about creditors.

Question

Quizplus · Accepted Answer

China's high savings rate of around 40% has allowed for a large pool of domestic capital that can be directed towards investment and growth. This has enabled the country to finance investments in infrastructure, manufacturing, and technology despite the underdeveloped financial sector.

One Reason China Has Been Able to Grow So Rapidly