Comparing the USSR and PRC and Post-communist transition in Russia

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The USSR and PRC and Post-Communist Transition in Russia














For any nation to grow and develop, several factors like its political and economic rules play a significant role. USSR and PRC are Asian countries that have undergone some similar situations that have in turn led to their current political and economic positions in the universe. On comparing the two economies, one has to look into the economic, cultural, human resources, political and legal interplay.  In comparing the two nations economically, PRC has grown tremendously unlike USSR, which has shown a rather stunted development over the years.














USSR’s economy mainly depended on its oil and gas, which confined its development. China, on the other hand, largely benefits from globalization, low-cost, and its huge labor force to construct a flourishing supply-based economy. China, however, should aim at making their development sustainable by encouraging consumption in its economy other than relying solely on suppliers. Communism in the USSR was mainly characterized by rushed and subverting programs that supporte...