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Russian and Chinese Reform

t in to get the most basic goods and the persistent shortages. Yeltsin committed the country to a painful but necessary policy of reform toward a market economy and democratic government. He has freed the state from control of most industries and introduced the practice of electing government officials. He has stayed his course with an amazing steadfastness, often asking the Russian people to endure temporary hardship in the present with the hopes of a better future.

Russia is not a homogeneous entity, but rather is host to nearly 100 distinct nationalities. It is comprised of 16 autonomous republics and 30 autonomous areas. A number of these were the cause of major secessionist problems for the Yeltsin administration (History of Russia, online). The threat of civil war is one that will plague this nation for years to come (see Chechnya for proof of this), and the existence of economic hardships only exacerbates the problem. Fortunately things are beginning to turn around economically for Russia, which will hopefully quell the tide of rebellion.

One of the biggest hurdles preventing economic growth has been a high inflation rate, which is finally being curbed. "In 1996, Russia moved towards overcoming the critical 30 percent inflation level which usually makes it possible to expect a turning point in investment dynamics. (Ministry of Economy..., 1997, online). Foreign investment, real incomes, and financial markets have all showed signs of improvement since 1996 as well. However, output and investments, two other major indices of the economic health of a country, have decreased. There is still some doubt surrounding if and when the recovery will be felt throughout the country, but overall things are definitely getting better.

On October 1, 1949, the People's Republic of China was established and communism was embraced as a means to reunite the country, which had been suffering from years of turmoil caused by r...

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Russian and Chinese Reform. (1969, December 31). In LotsofEssays.com. Retrieved 09:59, April 19, 2024, from https://www.lotsofessays.com/viewpaper/1687010.html