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 ___(1)___ regime was long overdue in 1991 and has played a positive role since, but its impact has __(2)____ its course, and the policy has recognizable __(3)____. Liberalization cannot address all aspects of the man-made environment and now climate change __(4)____ to change everything forever. We do not have another quarter-century to deal__(5)___these imperatives.