The Soviet Union for example, which was well known for its socialism and centrally planned economy underwent radical reforms of society and market under Mikhail Gorbachev. ... Another remarkable characteristic of this decade was the growing influence of multinational corporations, which was highly influenced by the dynamic trends of globalization and interdependence. ... For example, it would be incorrect to label the Chinese economy as entirely communist because it is clear that it is opening up to the West. ... Two types of problems that could arise from the lack of organization are te...

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• Approx Pages: 19
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• Grade Level: Undergraduate