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
Question
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
Solution
The answer is:
A. Demonetisation
The three fundamental processes of Chinese economic reforms since the late 1970s are generally considered to be Globalisation, Decentralisation, and Marketisation.
Globalisation refers to China's opening up to the global economy, Decentralisation refers to the devolution of economic decision-making powers from the central government to local governments and enterprises, and Marketisation refers to the shift from a centrally planned economy to a market-based economy.
Demonetisation, on the other hand, is not considered a fundamental process of China's economic reforms. Demonetisation typically refers to the act of stripping a currency unit of its status as legal tender, which has not been a characteristic feature of China's economic reforms.
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