The Role of China in Asia

Please choose the most appropriate answer for each sentence.
  • 1

    Over the past two decades, China has embarked on a process of development that has taken it at ..... speed from a poor, largely rural economy to a global economic force.

  • 2

    The sheer size of its workforce and the speed of its transformation have posed enormous challenges for many countries around the world, but nowhere more than in its own ......

  • 3

    The challenge is particularly important in Asia because from the point of view of smaller and in some cases more-developed Asian economies, it would be hard not to see China's low-cost labor force and enormous scope for ..... of scale as a fearsome competitive threat.

  • 4

    At the same time, China offers enormous opportunities as both a partner in production and a huge potential market of more than a billion consumers; other Asian economies may try to seek out markets in China, perhaps in ..... consumer goods likely to be of interest to the burgeoning middle class.

  • 5

    Or other Asian countries may try to '.....-back' on China's extraordinary success as a low-cost exporter by integrating production processes through trade fragmentation.

  • 6

    They will certainly try to avoid direct competition with China, and this could involve looking for ..... where China is less active and shifting export-oriented industries in those directions.

  • 7

    It is also ..... that the increased reliance on domestic demand in the less-developed countries does not appear to have been reflected in lower rates of GDP growth in these countries.

  • 8

    To the extent that countries are able to use China as a market, China may be becoming an independent ..... of growth for the region.

  • 9

    To the extent that China is taking market share from other countries, it is also acting somewhat like a ....., forcing countries out of some areas of production; however, in the long run the principle of comparative advantage should dominate, and all countries should benefit.

  • 10

    We examined both macroeconomic and microeconomic data to ..... some light on this issue.

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