What was the main effect of entrepreneurship in China?

What was the main effect of entrepreneurship in China?

1: Poverty noticeably declined.

2: Foreign investment declined.

3: New products were invented.

4: Product exports exceeded imports.

Answer. 1: Poverty noticeably declined.

The entrepreneurship renaissance in China has been one of the major factors to attribute to the economic and social landscape modification. Of the many implications, the remarkable decrease in the incidence of poverty is one of the most notable ones, with the expansion of the private businesses and creation of new job opportunities leading to the creation of better opportunities for the generation of income and stepping away from the poverty status-quo. Besides entrepreneurship has contributed to innovation and the creation of new products with respect to many spheres, supplying the offering for both internal and oversea clients. The rise of entrepreneurial undertakings in the segment of the economy is another source of prosperity apart from their expansionary effects. Furthermore, entrepreneurship in China has been a vital force behind the endeavors to decrease poverty and stimulate creativity by means of providing the population with a variety of new commodities.