question_answer

Study the cartoon given below carefully and answer the following questions:

(a) Which country does this cartoon refer to?

(b) Evaluate any two changes in the economic policies of this country from 'then' to 'now'.

(c) Assess any two outcomes of the latest changes that took place in this country.

 

Answer:

(a) This cartoon refers to China.

Republic of China 1949 was followed by communist revolution under the leader of Mao, the economy was based on Soviet Model China chose to its link with the capitalist world the model was to create a state-owned industries from the capital accumulated from agriculture sector.

(b) Two changes in the economic plicies of this country are:

The new economic policies helped the Chinese economy to break from stagnation. The Chinese economy including both industry and agriculture grew at faster rate.

The new trading laws led to phenomenal raise in foreign trade, China has become the most important destination for foreign direct investment (FDI) anywhere in the world.

(c) Major two outcomes of the latest changes that took place in the country are:

1. Phenomenal Rise in Foreign Trade: China has an economic growth, of over 10 per cent which make this country a fast moving economy.

2. Foreign Direct Investment (FDI): FDI m 2000 - 01 was 70 billion U.S. dollars which was a increased by 2010-11 to 115 billion U.S. dollars.