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    #1

    it has given many more Chinese a stake in...

    Could you tell me what's the meaning of the sentence in blue? What does "It" refer to and what does "give a stake in" mean? Thank you.

    To help make this work, the Chinese government has subsidized its exporters by pegging the renminbi at an unnaturally low rate to the dollar. This has supported relatively high-paying export jobs; additional subsidies have included direct credit allocation and preferential treatment for coastal enterprises. These arenít the recommended policies you would find in a basic economics text, but itís hard to argue with success. Most important, it has given many more Chinese a stake in the future of their society.

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    #2

    Re: it has given many more Chinese a stake in...

    It = the economic policy
    stake = they participate and have views, opinions and interests- they are actively involved in the future they are building

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    #3

    Re: it has given many more Chinese a stake in...

    Thank you. But the "policy" mentioned in the sentence is plural. If the writer refers to the economic policy. why isn't "they" used?

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    #4

    Re: it has given many more Chinese a stake in...

    It could refer back to 'this' at the start (and then to something else earlier).

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