Question : Statement 1: China introduced reforms in 1987 to address the slow pace of economic growth.
Statement 2: The reforms in China were not dictated by the World bank and International Monetary Fund.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true and Statement 2 is false.
Option 4: Statement 1 is false and Statement 2 is true.
Correct Answer: Statement 1 is false and Statement 2 is true.
Solution : The correct answer is (d) Statement 1 is false, and Statement 2 is true.
Statement 1 is false. China introduced significant economic reforms starting in the late 1970s under the leadership of Deng Xiaoping, not in 1987. These reforms, often referred to as "Deng Xiaoping's reforms," aimed to liberalize and transform the Chinese economy to promote growth and development.
Statement 2 is true. The reforms in China were not dictated by the World Bank and International Monetary Fund (IMF). While international organizations like the World Bank and IMF have provided advice and support to China in its economic development process, the reforms were primarily driven by domestic policymakers and the Chinese government's own strategies.
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