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Question
China is described as ______ market economy at present.
Options
Capitalist
Socialist
Mixed
Welfare
MCQ
Fill in the Blanks
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Solution
China is described as socialist market economy at present.
Explanation:
China follows a unique economic model known as “Socialism with Chinese characteristics”. While the country has adopted many elements of a market economy (like private enterprise and foreign investment), the state still controls key sectors of the economy and plays a dominant role in planning and governance.
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