In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.
Widespread liberalization of the economic ________________ regime was long overdue in 1991, and has played a positive role since, but its impact has ________________ its course and the policy has recognisable ___________________. Liberalization cannot address all aspects of the manmade environment and now climate change ________________ to change everything forever. We do not have another quarter century to deal ___________ these imperatives.