Question

Which of the following nations adopted an ‘Open Door’ policy and economic reforms in 1978?

• A. South Korea
• B. China
• C. USA
• D. Japan

Answer 1

The Correct Option is B

In 1978, under the leadership of Deng Xiaoping, China initiated its "Reform and Opening Up" policy. This involved opening up the Chinese economy to foreign investment and trade, and implementing market-oriented reforms. This policy is often referred to as the "Open Door Policy."

Open Door Policy: A policy of allowing multiple foreign powers access to a country's markets and resources, generally avoiding exclusive control by any one power. In the context of 1978, it implies actively encouraging foreign investment and trade.

Answer 2

• China adopted the ‘Open Door’ policy and initiated economic reforms in 1978 under the leadership of Deng Xiaoping.
• The policy aimed to open China’s economy to foreign investments and global trade.
• These reforms marked the beginning of China’s transition from a planned economy to a more market-oriented economy.
• The economic changes led to rapid industrial growth and modernization in China.

So, the correct answer is (B): China