After Taking Power in 1949, China's Communist Government Sought to Reduce

question 55

True/False

After taking power in 1949, China's Communist government sought to reduce regional variations in prosperity by encouraging each region to develop its own industrial and agricultural sectors that were independent of those of other regions.

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Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower fails to make payments.

Creditor

An individual or organization to whom money is owed by a debtor.

Co-Sign

To sign a legal document alongside another person, often agreeing to take responsibility if the primary signer fails to meet the terms.

Credit Application

A form or request submitted by an individual or business seeking to obtain credit from a lending institution.