The mainstream of development economists has collectively summarised three secrets behind tremendous success of China’s economic and opening-up reforms since 1978, including marketisation, de-centralisation and globalisation. Which following specific reform is least related to ‘globalisation’?

Question

BlackTom AI · Accepted Answer

The question asks which specific reform is least related to ‘globalisation’ among three broad reforms attributed to China’s opening-up: marketisation, de-centralisation, and globalisation itself.

Option content provided: 'b. Dual-track Price System'. Since the complete list of answer options is not available in the provided data, I cannot evaluate each alternative option individually. I will proceed with the reasoning around the given correct option and explain why it is plausibly least connected to globalisation, while also noting the data gap.

Why the given option (Dual-track Price System) can be considered least related to globalisation: 
- The dual-track price system was a domestic reform where both planned (state-set) prices and market-determined prices coexisted. Its primary aim was to liberalize the internal allocation of resources, reform state-owned enterprises, and gradually introduce market mechanisms within the domestic economy. 
- Globalisation, by contrast, emphasizes integration with the world economy: expanding trade openness, foreign investment, exchange-rate liberalization at the border, participation in global supply chains, and exposure to international competitive markets. While domestic price liberalization can support global integration, the dual-track price system itself is fundamentally about internal market reform rather than external economic integration. Therefore, it is arguably less directly tied to globalisation than reforms that explicitly promote foreign trade, foreign investment, or export-led growth.

Why other hypothetical options (if listed) might be more closely related to globalisation: 
- Reforms that directly facilitate foreign trade (e.g., tariff reductions, export processing zones, or streamlined customs) connect tightly with integration into global markets. 
- Policies promoting foreign direct investment, exchange-rate liberalization for convertibility, or participation in international trade agreements would be strong components of globalisation-related reform. 
- In contrast, domestic price adjustments that prepare the economy for competition may be prerequisites for a market economy but are not inherently about opening to the world.

Note on data limitations: The original dataset provided lacks the full set of answer options, so a complete, option-by-option critique cannot be delivered. If you supply the full list of choices, I can analyze each one in turn and clearly indicate which is least related to globalisation and why.

The mainstream of development economists has collectively summarised three secrets behind tremendous success of China’s economic and opening-up reforms since 1978, including marketisation, de-centralisation and globalisation. Which following specific reform is least related to ‘globalisation’?

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