What Is the System of "Guanxi" Used in China

question 84

Multiple Choice

What is the system of "guanxi" used in China?

• A)It refers to a system by which business people attempt to avoid strict Chinese regulations.
• B)It refers to a system of strict ethical rules.
• C)It refers to a system of smuggling.
• D)It refers to a prohibition against criticism of government rules and regulations.
• E)It refers to a system of relationship building woven together by social ties.

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Definitions:

Efficient

Achieving maximum productivity with minimum wasted effort or expense; effectiveness in performance.

Privatization

The process of transferring an enterprise or industry from the public sector to the private sector.

Government

The system or group of people governing an organized community, often a state, and the mechanism by which state policies are enforced and public affairs managed.

Unintended Consequences

Unintended consequences are outcomes that are not foreseen or intended by a purposeful action.