Russian became the world's largest communist country after Bolshevik Revolution. Russian is also known as USSR which stands for the Union of Soviet Socialist Republics. At that time Russia was experiencing large economic growth and development. The unemployment rate was low even during the Great Depression. The economy situation support that communism is likely to succeed and capitalism will fail, and this conclusion was spread worldwide. People believed that communism works efficiently and will help an economy to grow, but in fact, communism never works well. The government of USSR lied to their citizens about how their country’s real economic situation. They alternate the number of steels they produce each year and lied to people. The
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They privatized the government owned industry, but many people face downsizing under the private management. People go on strikes. Privatized is not working for all the small businesses even though it benefited Poland overall.
Indian government formed a socialist-style economy system after gaining their independence. Majority of the industries and firms was in control of the government. The country will never be innovative and grow under the system. A lot of illegal activities happened under the system. People trade goods privately, and the corruption became a huge problem.
China’s economy grows extremely fast under the socialist system. The system is less communist than USSR. The USSR wanted to use this economic system as well, but it will not work at their country because they are highly-developed country. China is not fully developed, and the people were poor. Many people work in small farms and there were not a lot of factories. The USSR collapsed on Christmas day, and it breaks down into few countries. Russia is the biggest country among these small countries. After the election of president Putin everything changes. The world becomes globalize and economy grow efficiently under a free market system. In the free market system, people can trade and sell as they wish. Therefore people have more freedom to the
They privatized the government owned industry, but many people face downsizing under the private management. People go on strikes. Privatized is not working for all the small businesses even though it benefited Poland overall.
Indian government formed a socialist-style economy system after gaining their independence. Majority of the industries and firms was in control of the government. The country will never be innovative and grow under the system. A lot of illegal activities happened under the system. People trade goods privately, and the corruption became a huge problem.
China’s economy grows extremely fast under the socialist system. The system is less communist than USSR. The USSR wanted to use this economic system as well, but it will not work at their country because they are highly-developed country. China is not fully developed, and the people were poor. Many people work in small farms and there were not a lot of factories. The USSR collapsed on Christmas day, and it breaks down into few countries. Russia is the biggest country among these small countries. After the election of president Putin everything changes. The world becomes globalize and economy grow efficiently under a free market system. In the free market system, people can trade and sell as they wish. Therefore people have more freedom to the