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Post-communism
Post-communism is the period of political and economic transformation or transition in former communist states located in Eastern Europe and parts of Africa and Asia in which new governments aimed to create free market-oriented capitalist economies. In 1989–1992, communist party governance collapsed in most communist party-governed states. After severe hardships the communist parties retained control in China, Cuba, Laos, North Korea, and Vietnam. Yugoslavia fell into parts that plunged into a long complex series of wars between ethnic groups. Soviet-oriented communist movements collapsed in countries where it was not in control. Politics The policies of most Communist parties in both the Eastern and Western Bloc had been governed by the example of the Soviet Union. In most countries in the Eastern Bloc following the Revolutions of 1989 and the fall of communist-led governments, the communist parties split in two factions: a reformist social democratic party and a new less ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transition Economy
A transition economy or transitional economy is an economy which is changing from a planned economy, centrally planned economy to a market economy. Transition economies undergo a set of structural transformations intended to develop market-based institutions. These include economic liberalization, where prices are set by market forces rather than by a central planning organization. In addition to this trade barriers are removed, there is a push to privatize state-owned enterprises and resources, state and collectively run enterprises are Corporatization, restructured as businesses, and a financial sector is created to facilitate macroeconomic stabilization and the movement of private capital (economics), capital. The process has been applied in China, the former Soviet Union and Eastern bloc countries of Europe and some Third world countries, and detailed work has been undertaken on its economic and social effects. The transition process is usually characterized by the changing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |