Answer: D: The central clinical event in all near drowning victims is hypoxia caused by laryngospasm and asphyxia.
Hypoxemia, a state of deficient oxygen levels in the blood, is the primary and most critical physiological problem in near-drowning incidents. This condition arises because the victim's lungs fill with water or are affected by the aspiration of water, which significantly reduces the exchange of oxygen and carbon dioxide in the lungs. This impairment causes a decrease in the oxygen available in the blood to supply the body's tissues, potentially leading to organ failure and other critical complications.