Which of the following statements related to productivity growth in China is true?
A)China has been more successful in developing new technologies than it has in adapting existing technologies developed in other countries.
B)Much of China's growth is likely due to the transition from a centrally-planned economy to a market economy.
C)Because of the high birth rate in China,the Chinese labor force will continue to increase.
D)Manufacturing wages have remained stagnant in China due to the increasingly large supply of low-wage agricultural workers that have yet to move to manufacturing jobs in cities.

Question

Quizplus · Accepted Answer

China's productivity growth is largely attributed to its transition from a centrally-planned economy to a market economy, allowing for increased efficiency and innovation in the private sector. While China has made significant strides in developing new technologies, it has also relied heavily on the adaptation of existing technologies from other countries. The birth rate has been decreasing in China, resulting in a shrinking labor force. Moreover, manufacturing wages in China have increased significantly in recent years as the supply of low-wage agricultural workers has decreased, leading to a shift towards higher-skilled jobs.

Which of the Following Statements Related to Productivity Growth in China