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Q.

Which country was cut off from the post-war world economy since its revolution in 1949?


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a

USA

b

China

c

India

d

Britain 

answer is B.

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Detailed Solution

After its revolution in 1949, China was cut off from the post-war global economy. China's new economic policies helped several nations reintegrate into the global economy. Wages were generally low in places like China. As a result, they attracted the attention of international MNCs competing for global market share. Industry migration to low-wage nations boosted international trade and capital flows. Due to the fast economic transformation of nations like India, China, and Brazil during the past 20 years, the global economic geography has changed.
 
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