China's Economic Transformation Quiz

What was the primary factor that led to China's economic decline in the 1800s?

• Natural disasters

• Civil war

• Failure to industrialize at the same pace as Western countries

• Overpopulation

Which economist advocated for unfettered capitalism and the idea that a business's sole responsibility is to increase profits?

• John Maynard Keynes

• Adam Smith

• Milton Friedman

• Karl Marx

What was the name of the Chinese leader who initiated economic reforms in the 1970s?

• Mao Zedong

• Deng Xiaoping

• Chiang Kai-shek

• Xi Jinping

What strategy did China use to begin its economic transformation?

• Immediate nationwide free market reforms

• Establishing 'special economic zones'

• Joining the World Trade Organization

• Nationalizing all industries

The 'elephant graph' discussed in the video illustrates:

• The distribution of wildlife in different economic regions

• Income growth across different global income percentiles

• The shape of China's economic growth curve

• The decline of traditional industries in developed countries

According to the video, which group saw the highest percentage of income growth over the past 35 years?

• The bottom 10% of global income earners

• The middle class in Western countries

• The new middle class in China and other Asian countries

• The top 1% of global income earners

What negative consequence of shareholder capitalism does the CO₂ emissions graph highlight?

• Increased income inequality

• Job losses in developed countries

• Environmental degradation

• Overproduction of goods

What is the main criticism of the shareholder capitalism model presented in the video?

• It doesn't generate enough profit

• It focuses too much on long-term planning

• It prioritizes short-term profits over other considerations

• It gives too much power to employees

What alternative to shareholder capitalism does the video propose?

• Socialism

• Communism

• Stakeholder capitalism

• State-controlled economy

Which of the following is NOT mentioned as a stakeholder in the proposed new model of capitalism?

• Customers

• Suppliers

• Shareholders

• Competitors