Question

The economy has expanded rapidly over the last two years. Provide an explanation for this turn of events and show how it is an INUS explanation.

Answer 1

The economy has expanded rapidly over the last two years. Let's take the example of China's economy.

China is the worlds second largest economy and the biggest importer but years ago in 1970, it was poor largely raw nation with at least 30% of its population living in poverty. It started to change in 1978 when China launched major economic reforms. The first was agricultural farmers were allowed to sell their crops into the market. success in agriculture helped China to grow even further.

In 1980 China became the member of the world bank and international monitory fund that's the same year it created special economic zones to encourage foreign direct investments as the economy opened up to the outside world. companies flooded into China to build factories and take advantage of cheap labor. The stock market in Shanghai opened in 1990. Economic development boomed the following decade averaging 10% a year. More than 500 million people have been lifted out of poverty. Since China's economic reform began it's been called an economic miracle and the global economy is tend to depend on it. Since China's economic development year by year is more than any other country they are now the second largest economy in the world. So the economy has expanded so rapidly over the last two years as it was growing at a good rate over the past 40 years.