GLBL 616

Question 1

From 1979 to 2011, China’s economy grew at an average real (inflation-adjusted) rate of ?? percent per year?

Answer 1

10%, easily the longest period of double digit growth ever recorded. Since then it has grown at an average rate of 7% (2012-18) per year—the fastest rate of any major economy during the time

Question 2

GDP growth grew at a rate of ?? per year. Doubling every nine years.

Answer 2

8.5%

Question 3

The number of middle class Chinese grew from virtually zero to ?? Surpassing the number of middle class in any nation except… and…?

Answer 3

300 million.

US and India

Question 4

The U.S. has been the world’s undisputed leader in economic output and technological development since the …????

Answer 4

1870s

Question 5

The world’s largest hydropower producer when it was completed in 2012….?

Answer 5

Three Gorges Dam, on the Yangtze River

Question 6

94% of China’s population lives on the southeast side of this line and 6% lives on the northwest side.

Answer 6

The Hu line—drawn by Chinese geographer Hu Huanyong in the 1930s.

Question 7

The three pillars of the “developmental state”, a coin termed by economist Robert Wade in 1988, are?

Answer 7

Lands reforms, export manufacturing, and financial repression.

The concept can be traced back to Germany and the U.S. who were the top enactors of the concepts in the 19th century—and then later copied by nations of East Asia.

Question 8

Township and village enterprises (TVEs) are?

Answer 8

Business enterprises that are formally owned, or informally sponsored, by local “collectives,” that is by township and village governments

Question 9

Agriculture only accounts for 8% of China’s GDP, but ?? percent of the population still lives in rural settings and more than a ….. of the population tills the fields.

Answer 9

40%; quarter

Getting the agriculture piece “right” is the first critical step to a successful economy in China.