Did China benchmark any country in its development processes since 1978? What is unique about China’s development model under Deng Xiaoping? Can Deng’s economic policy be explained by the neoclassical growth model? Show your arguments using the neoclassical (Solow-Swan) growth model.

Explain to what extent the neoclassical growth theory (e.g. Solow Swan model) that emphasize capital accumulation and total factor productivity can explain the East Asian growth ‘miracles’ with particular references to the growth experiences of Korea and Singapore. Illustrate your answer with the aid of an appropriate model diagram(s).

Lee Kuan Yew's growth strategy  was to nurture and develop domestic private enterprises   All of the other answers are correct.   was to build a socialist market economy that inspired Deng's China   was to host FDI for capital and TFP   was inspired by Japanese model of industrialization

Which of the following may NOT be the reason why after 1949 China decided to adopt the system that industrial inputs and output were allocated administratively by a government:a.China adopted the economic system of the Soviet Union, which was seen as being successful at achieving a relatively high rate of economic growth and a modernizing economy.b.The economic growth model used by the Soviet and China in the 1950s assumed that international trade would play only a very minor role in their economies, thus a country must produce all of the goods that it needs or wants.c.Social stability after World War II and the Civil War had provided China with sufficient industrial production capacity.d.In the ruling Chinese Communist Party’s ideology, markets were irrational; and markets in the 1940s were seen as associated with capitalism, imperialism, and colonialism.

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

Under Deng Xiaoping, the Chinese Communist Party began pursuing policies designed to:A.increase popular support for the government using gradual democratic reforms.B.rebuild the Chinese economy by ending collectivization and restoring private property.C.identify and punish individuals suspected of disagreeing with Mao Zedong's beliefs.D.modernize China's economy by forcing farmers to take jobs in the manufacturing sector.SUBMITarrow_backPREVIOUS