What has happened to most low- to middle-income countries with the turn away from decades of state-led development and regulated markets toward globalization?
A) They have been able to sustain robust pre-1980 growth rates.
B) They have seen their growth, productivity, and investment stagnate.
C) They have seen the gap between wealthy and poor countries narrow.
D) They have seen growing parity with Northern industrialized countries.

Question

Quizplus · Accepted Answer

Most low- to middle-income countries have seen their growth, productivity, and investment stagnate with the turn away from state-led development and regulated markets towards globalization. While some have experienced economic growth, the benefits have not been evenly distributed and have often been concentrated in the hands of a few wealthy individuals or companies. As a result, income inequality has increased in many of these countries.

What Has Happened to Most Low- to Middle-Income Countries with the Turn