Question

why has china experienced substantial economic growth since the late 1970s?
a. microfinance institutions have taken control of most aspects of
the economy.

b. local governments have been granted more independence when
making economic policy.

c. the country has gradually shifted from a mixed economy to a
command economy.

d. high tariffs and strict trade regulations have helped the country
benefit from global trade.

Explanation:

• Option A: Microfinance institutions don't control most of China's economy, so A is incorrect.
• Option B: Since the late 1970s, China's reform and opening - up gave local governments more independence in economic policy - making, which promoted economic growth. This is in line with China's economic development practice.
• Option C: China shifted from a planned (command - like) economy to a socialist market economy (a type of mixed economy with market - oriented reforms), not from mixed to command. So C is wrong.
• Option D: High tariffs and strict trade regulations are not conducive to benefiting from global trade. China's economic growth was partly due to opening up and participating in global trade with relatively reasonable trade policies, so D is incorrect.

Answer:

B. Local governments have been granted more independence when making economic policy.