Zuliu Hu and Mohsin Khan have stated that the productivity gains in China over the past 20 years are, in large part, a result of market reforms from incorporating business into the public sector.Group of answer choicesTrueFalse

Which of the following is the biggest driver of China's economic growth since 1990s?A.Technological innovationB.Productivity gainC.Labour resourceD.Capital accumulation

Which of following is NOT broadly considered as one of the three fundamental processes of Chinese economic reforms since late 1970s?A.DemonetisationB.GlobalisationC.DecentralisationD.Marketisation

Compared with reforms in the 1980s, China's reforms in the 1990s  were more consensus based.   included state-sector downsizing.   emphasised "reform without losers".  included particularistic contracts with powerful incentives to the SOEs.   None of the others is correct.

High productivity in the United States and other high-income countries results from high levels of human capital combined with labor-intensive production processes.True false question.TrueFalse

1. Describe comprehensively the very nature of Chinese economic system. Consider the ownership of means of production (6) andchanges in Chinese economy since the 1980s (10).