Which of the following would NOT be generally considered as one of the main reasons for the rapid expansion of middle class in China?单项选择题

A

A. Broad-based economic growth due to fast development in 2nd/3rd industry.

B

B. Infrastructure development caused by rapid urbanisation.

C

C. A steady increase in labour force participation and improvement in labour market conditions.

D

D. People’s Bank of China, as the central bank, abandoned fixed exchange rate regimes, and adopted floating or managed exchange rate regimes.

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