discuss the economic condition of newly independent countries after USSR disintegration
Asked by manishakalita23
6th June 2019,
8:39 PM
Answered by Expert
Answer:
- After the disintegration of the USSR, the former republics of USSR had to make a shift to the capitalist economy. This could be done after abolishing economic structures and policies implemented during the Soviet Union.
- Private ownership of industries and other assets began. Collective farms were replaced by private farming.
- Free trade was considered essential.
- Shock Therapy also included the breakup of trade alliances which were earlier signed among the members of the Soviet Union.
- Western capitalist states assumed the leadership of the former republics of USSR and controlled their economy with the help of various agencies and organisations.
- Post-Soviet states, especially Russia, were divided between rich and poor regions. Unlike the earlier system, there was now great economic inequality between people.
Answered by Expert
7th June 2019,
8:41 AM
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