Q: Economies of China & its Neighbors

What nickname was given to Taiwan due to its strong economic growth?

• Asian Dragon

• Asian Lion

• Asian Tiger

• Asian Elephant

Why did Taiwan's economy begin to grow quickly in the mid-1900s?

• Increased agricultural output

• Decrease in population

• Manufacturing more goods

• Discovery of oil

What major change helped Taiwan to continue its economic growth?

• Decreasing wages

• Improving the education system

• Reducing exports

• Increasing farm work

Why is transportation in Mongolia described as difficult?

• Lack of paved roads

• High fuel costs

• The country is landlocked

• Excessive traffic

What prevents Mongolia from growing its economy around manufacturing like Taiwan did?

• High wages

• Lack of natural resources

• Long land transport distances

• Lack of government support

Which country is one of Mongolia's major trading partners?

• Russia

• Japan

• India

• China

What major economic reform did the Chinese government implement in the late 1970s?

• They introduced a free market economy

• They allowed farmers to decide what to grow and sell the produce

• They prohibited private businesses

• They increased taxes on agricultural products

What was the population of Shenzhen in 1980 compared to 2013?

• Increased from 30,000 to 10 million

• Decreased from 10 million to 30,000

• Increased from 100,000 to 1 million

• Remained the same at 30,000

Which of the following statements best describes the impact of China's economic policies on its global economic status by 2008?

• China's economy was among the smallest in the world

• China hosted the Summer Olympics, highlighting its economic decline

• China's economy became the second-largest in the world

• China's economic policies had no significant impact on its global status

What event beginning in 2008 significantly impacted the Chinese economy due to its reliance on exports to the United States and Europe?

• The technological boom in Silicon Valley

• The global economic crisis

• The establishment of the European Union

• The signing of the NAFTA agreement