[讨论] 大全 962， it 指代什么啊？

cathy0929

962.        Contrary to the scholarly wisdom of the 1950’s and early 1960’s that predicted the processes of modernization and rationalization would gradually undermine it, ethnicity is a worldwide phenomenon of increasing importance.

(A) would gradually undermine it

(B) to be a gradual undermining of it

(C) would be a gradual undermining of ethnicity

(D) to gradually undermine ethnicity（A）

(E) gradually undermining it

 

我选的是D，我不知道正确答案A的it指代的是什么？
            谢谢大家的指点