Question

The economy of china is in transition. what does this mean? investments are determined by state control instead of by private decision. the government rarely interferes in the free market and is highly receptive to foreign investment. the economy is moving from central planning toward a market-based system. individual firms are in the process of being sold to the state.

Answer 1

The economy of china is in transition means that the economy is moving from central planning toward a market-based system.

Economic transition is a period of change in which a nation moves from one economic system to another.