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Economic Reform and Transformation
Quick questions on The growth model and its imbalances explained: H2 China Studies
4short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is the shape of the growth model?Show answer
China's growth in the reform decades was driven by two engines: investment and exports. The economy generated an exceptionally high rate of savings, by households, firms and government, and channelled it into very high levels of investment, in factories, infrastructure, housing and urban construction. At the same time, after opening and especially after WTO entry, exports to world markets were a powerful additional source of demand. Investment as a share of GDP reached levels far above those of most other large economies, while household consumption remained an unusually low share.
What is q1?Show answer
Identify the two main engines of China's growth model and the factor that was held down to fund them. [4 marks]
What is q2?Show answer
Explain why the investment-led model produced diminishing returns over time. [12 marks]
What is q3?Show answer
"China's growth model carried the seeds of its own crisis." How far do you agree? [20 marks]
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