Fewpal
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“China followed its own path in introducing a market economy”. Justify this statement with four suitable arguments?

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(i) The Chinese did not go for ‘shock therapy’ but opened their economy step by step.

(ii) The privatization of agriculture in 1982 was followed by the privatization of industry in 1998. 

(iii) Trade barriers were eliminated only in Special Economic Zones (SEZs) where foreign investors could set up enterprises.

(iv) In China, the state played and continues to play a central role in setting up a market economy.

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