According to the principle of transition dynamics,we should expect China's economy:
A)to grow at a relatively high rate forever.
B)to grow relatively slowly now but speed up over time.
C)to grow relatively fast now but slow down over time.
D)to catch up to the United States in the next 50 years or so.
E)to reach its steady state by the year 2100.

Question

Quizplus · Accepted Answer

The principle of transition dynamics states that economies with lower levels of development tend to grow more rapidly than advanced economies, but as they catch up, their growth rates slow down. China has already experienced high levels of growth and development, so it is expected to grow relatively fast now but slow down over time.

According to the Principle of Transition Dynamics,we Should Expect China's