Both China and India have achieved high growth rates despite relativel

QUESTION

Both China and India have achieved high growth rates despite relatively weak property rights regimes and high levels of corruption, because of:

A. the shift toward a communist ideology.

B. their high living standards.

C. their large population.

D. their high consumer purchasing power.

E. the shift toward a market-based economic system.

ANSWER

E
Both China and India have achieved high growth rates despite relatively weak property rights regimes and high levels of corruption. In both countries, the shift toward a market-based economic system has produced large gains despite weak property rights and endemic corruption.