“Turning to a Market Economy”
“Turning to a Market Economy”
Many developing countries in the “Global South” turned to socialism in the past as a means to solve their economic problems. Now, in the light of the evident failure of socialism, many of these countries seek to create fast growth through the establishment of “market economies.”
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Select a country in the Global South that has been in the news recently. Visit a reputable Website, newspaper, or TV broadcast to catch up on the latest events relating to the economic development of the country. Using the country you researched in the e-Activity, identify which of the five market economy policies the country appears to be following. Explain how you reached this conclusion.
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Speculate about the likelihood of success of achieving a prosperous market economy for the country you researched.
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Using the country you researched in the e-Activity, identify which of the five market economy policies the country appears to be following. Explain how you reached this conclusion.
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Minimum 3 References
Notes: Prefer a Middle Eastern Country i.e. United Arab Emirates, Egypt, Kuwait, Saudi Arabia
