GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 15 Oct 2019, 19:48

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

The overseas Chinese number only 55 million and are politically powerl

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Find Similar Topics 
Senior RC Moderator
User avatar
V
Joined: 02 Nov 2016
Posts: 4089
GPA: 3.39
The overseas Chinese number only 55 million and are politically powerl  [#permalink]

Show Tags

New post 29 Jan 2019, 01:33
1
Question 1
00:00
A
B
C
D
E

based on 21 sessions

76% (02:44) correct 24% (03:19) wrong

HideShow timer Statistics

Question 2
00:00
A
B
C
D
E

based on 21 sessions

48% (01:31) correct 52% (01:46) wrong

HideShow timer Statistics

The overseas Chinese number only 55 million and are politically powerless in many of the Asian lands through which they are sprinkled. Yet they are one of the world’s great economic engines, commanding resources far beyond their numbers. They are most likely to have a hand in converting China into a giant that could dominate the 21st century.

The enormous wealth of the overseas Chinese has been accumulated and is deployed through a distinctive form of social and business organization. They are held together not by law, government and public ideals; or by a concept of national solidarity, but by personal acquaintance, trust and obligation. The result has been a highly decentralized business structure based on secretive, entrepreneurial, family-owned firms that are run autocratically but cooperate smoothly and informally with each other, often across national borders.

Wary of governments and laws, the Chinese found that dialect, kinship, a common origin in a clan, a village or a county gave a sure footing of trust for a business deal conducted even at great distance. The certainty this gave and the informality it allowed shaped the loftiest transactions as well as the most humble.

The knots in this worldwide net are family-owned firms. Even in listed companies, the founding family’s control and accumulation of capital are principal aims. A system based on a multitude of owner-managed firms with intimate links to others like them has the two big advantages of fast decision-making and acute sensitivity to markets. The businesses in which the overseas Chinese have done best – trading, property, commodities, shipping, mining and timber are lines in which, even on a global scale, an instinct for the right price, time and place counts for more than complex management skills.

But despite all, however distressing China’s politics maybe, the overseas Chinese have always felt the cultural, linguistic and often familial pull of the place they came from, thus elevating the family spirit to national scale. This feeling has already borne much fruit in the form of universities, hospitals and investments provided for the mainland by overseas Chinese businessmen.

1. According to the passage which of the following is true in relation to the overseas Chinese?

(A) They are free from the bindings of law and fiscal policies.
(B) The rapidly expanding numbers of overseas Chinese are heading towards constituting a major part of the world’s population.
(C) They are disillusioned by the pathetic socio-political conditions of China and bear no affections for their nation.
(D) Despite their minority, the overseas Chinese are highly resourceful economic contrivers with the potential to influence the world in future.
(E) The Chinese when overseas prefer to establish commercial ties only with the natives of China.

2. With which of the following statements would the author of the passage above be least likely to agree?

(A) Despite their success the overseas Chinese have failed to contribute towards the distressing state of circumstances in China.
(B) The Chinese have an admirable propensity to assess the correct price, time and place for commercial activity.
(C) A system constituted chiefly by family owned firms has facilitated decision-making and responsiveness to markets for the overseas Chinese.
(D) The overseas Chinese found common vernacular and familial relationships reassuring in business conducted over great distances.
(E) The astounding wealth of the overseas Chinese has been amassed and is spread out through a credible socio-economic organization.


_________________
Most Helpful Community Reply
Senior RC Moderator
User avatar
V
Joined: 02 Nov 2016
Posts: 4089
GPA: 3.39
The overseas Chinese number only 55 million and are politically powerl  [#permalink]

Show Tags

New post 31 Jan 2019, 05:04
1
Archit3110 wrote:
SajjadAhmad
could you please provide reason on why option A is correct in Q2.


Explanation


1. According to the passage which of the following is true in relation to the overseas Chinese?

Difficulty Level: 550

Explanation

(A) They are free from the bindings of law and fiscal policies.
Never Discussed in the passage, no text leads to these circumstances so can't validate it

(B) The rapidly expanding numbers of overseas Chinese are heading towards constituting a major part of the world’s population.
Although the number of overseas chinese is mentioned but it is not compared with the world's population - it deviate from the real thing

(C) They are disillusioned by the pathetic socio-political conditions of China and bear no affections for their nation.
It is completely opposite as it mentioned in the passage that they very considers their cultural value and contribute to their mainland

(D) Despite their minority, the overseas Chinese are highly resourceful economic contrivers with the potential to influence the world in future.
It is mentioned in the first paragraph it is the correct option

Quote:
Yet they are one of the world’s great economic engines, commanding resources far beyond their numbers. They are most likely to have a hand in converting China into a giant that could dominate the 21st century.


(E) The Chinese when overseas prefer to establish commercial ties only with the natives of China.
No such indication in the passage - so its out


2. With which of the following statements would the author of the passage above be least likely to agree?

Difficulty Level: 600

Explanation

What we have to find in the answer?

[*] An answer choice which is not mentioned in passage explicitly
[*] An answer choice which cannot be true/inferred from the passage

(A) Despite their success the overseas Chinese have failed to contribute towards the distressing state of circumstances in China.
This option cannot be validated as no such indication is available by the passage. It is an extreme answer. It narrows the facts to particular distressing states. Take this question as Critical reasoning Weaken question. It may weaken the passage by 1% or by 99% who cares but it must weaken. Other 4 option cannot weaken the passage even by 1%.

(B) The Chinese have an admirable propensity to assess the correct price, time and place for commercial activity.
It is mentioned in the end of second last para - Cross it

Quote:
an instinct for the right price, time and place counts for more than complex management skills.


(C) A system constituted chiefly by family owned firms has facilitated decision-making and responsiveness to markets for the overseas Chinese.
It is mentioned in the start of 4th paragraph - So it is out

(D) The overseas Chinese found common vernacular and familial relationships reassuring in business conducted over great distances.
To validate this read 3rd Paragraph so auther cannot be disagree with it.

(E) The astounding wealth of the overseas Chinese has been amassed and is spread out through a credible socio-economic organization
Read last paragraph to strike it out

In 1st question we have to select what is available by the passage, in second question we have to select what is not available by the passage.


Hope it helps
_________________
General Discussion
GMAT Club Legend
GMAT Club Legend
User avatar
D
Joined: 18 Aug 2017
Posts: 4999
Location: India
Concentration: Sustainability, Marketing
GPA: 4
WE: Marketing (Energy and Utilities)
GMAT ToolKit User Premium Member
Re: The overseas Chinese number only 55 million and are politically powerl  [#permalink]

Show Tags

New post 31 Jan 2019, 02:16
SajjadAhmad
could you please provide reason on why option A is correct in Q2.
GMAT Club Bot
Re: The overseas Chinese number only 55 million and are politically powerl   [#permalink] 31 Jan 2019, 02:16
Display posts from previous: Sort by

The overseas Chinese number only 55 million and are politically powerl

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  





cron

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne