By the 1990s, China Had Departed from a Capitalistic Economy

question 130

True/False

By the 1990s, China had departed from a capitalistic economy and shifted to a Soviet-type economy encompassing small-scale, labor-intensive industry.

---

Definitions:

Subordinates

Employees or team members who are lower in rank or position and report to a superior.

Porter's Model

A strategic tool developed by Michael Porter used to analyze an industry's structure and competition intensity through five forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products, and competitive rivalry.

Competitive Strategies

Tactics and approaches that businesses adopt to outperform their rivals and achieve superior market position.

Competitive Advantage

The unique attributes or qualities a company possesses that enable it to outperform its competitors, generating greater sales or margins.