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Planned economies contrast with command economies in that a planned economy is "an economic system in which the government controls and regulates production, distribution, prices, etc." [39] whereas a command economy necessarily has substantial public ownership of industry while also having this type of regulation. [40]
While the private sector has been accorded a role in the socialist market economy and has greatly increased in size and scope since the 1990s, the private sector does not dominate the Chinese economy. The exact size of the private sector is difficult to determine in part because private enterprises may have a minority of their stock owned by ...
By 1970, the Soviet economy had reached its zenith and was estimated at 60 percent of the size of the United States [73] in terms of the estimated commodities (like steel and coal). In 1989, the official GDP of the Soviet Union was $2,500 billion [ 74 ] while the GDP of the United States was $4,862 billion [ 75 ] with per capita income figures ...
The Soviets also modeled economies in the rest of Eastern Bloc outside the Soviet Union along Soviet command economy lines. [167] Before World War II, the Soviet Union used draconian procedures to ensure compliance with directives to invest all assets in state planned manners, including the collectivisation of agriculture and utilising a ...
The Maoist economic model of China was designed after the Stalinist principles of a centrally administrated command economy based on the Soviet model. [204] In the common program set up by the Chinese People's Political Consultative Conference in 1949, in effect the country's interim constitution, state capitalism meant an economic system of ...
The economic history of China describes the changes and developments in China's economy from the founding of the People's Republic of China (PRC) in 1949 to the present day. The speed of China's transformation in this period from one of the poorest countries to one of the world's largest economies is unmatched in history. [1]: 11
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production, consumption, economic management, work in general, financial transactions and trade of goods and services.
Although a mixed economy, the share of investment in public sector enterprises was 60%. [12] India's economic policies during this period were more akin to Soviet economic planning rather than the French dirigisme model. [12] Socialist economic planning was especially prevalent in form of the Planning Commission and Five-Year plans. [13] [14]