Which of the following statements about ‘Middle Income Trap’ (MIT) is INCORRECT?A.One of key reasons why many economies struggled in MIT is a loss of comparative cost advantage (labour, land, etc)- i.e. their secret of fast growth from low- to middle-income level.B.It is highly debatable whether China has been caught in MIT, since China has only become a middle-income country for 15 years.C.Transition from low income to middle income (per capita GDP is greater than USD3000 in PPP term) has happened recently in many Asian countries, including China.D.Transition from middle income to high income (per capita GDP is greater than USD13,000 in PPP term) has happened recently in many Asian countries, including China.

Graph 1 above illustrates the growth patterns of several Asian economies and Latin American economies (till 2013). According to the figure, which of the following statement is NOT true?a.All of the countries in this Figure have fallen into the Middle-income Trapb.The Latin American countries in this Figure have fallen into the Middle-income Trapc.China’s trajectory has so far outstripped even that of Taiwan and Koread.Thailand’s trajectory is comparable to the initial growth path of countries like Brazil and Mexico

Which of the following would NOT be generally considered as one of the main reasons for the rapid expansion of middle class in China?A.Broad-based economic growth due to fast development in 2nd/3rd industry.B.Infrastructure development caused by rapid urbanisation.C.A steady increase in labour force participation and improvement in labour market conditions.D.People’s Bank of China, as the central bank, abandoned fixed exchange rate regimes, and adopted floating or managed exchange rate regimes.

Which of the following statements is NOT true regarding globalisation and inequality and poverty? Question 5 Select one: a. There has been declining poverty in Indonesia, India and China b. Fierce global competition is driving MNEs to a 'race to the bottom' resulting in the erosion of labour standards and rights c. Per capita income has decreased d. There has been a global increase in the wealth of the middle class (especially in countries such as China and Brazil)

Which of the following statements is NOT true regarding globalisation and inequality and poverty?Question 8Select one:a.Per capita income has decreasedb.There has been declining poverty in Indonesia, India and Chinac.There has been a global increase in the wealth of the middle class (especially in countries such as China and Brazil)d.Fierce global competition is driving MNEs to a 'race to the bottom' resulting in the erosion of labour standards and rights

Which of the following statement about Deng Xiaoping’s economic reforms and “Southern Tour” is INCORRECT?Question 8Answera.Deng deliberately promoted the coastal region to give China the advantages needed to become globally competitive, which lead to an “unbalanced” economic development.b.China’s industrial capacity was developed mainly through Foreign Direct Investment in the Special Economic Zones, where enterprises could enjoy tax exemptions and better government services.c.Deng’s policies transformed China into the world’s most efficient assembler cum exporter of a wide range of manufactured goods.d.The Evolution of China’s Trade Regime began with Deng Xiaoping’s “Southern Tour” in 1992.