China: Coming to Grips with the New Global Player
By Horst Siebert, The World Economy (2007), October 8, 2007
The transformation of the centrally planned economies of Central and Eastern Europe in the 1990s took place in a disheartening valley of tears. In the reforms that started around 1989, Poland, Hungary and the then still united Czech and Slovak Republics lost roughly 20 per cent of their GDP. In Russia, where the reforms began in 1991 rather than 1989, the plunge amounted to more than 40 per cent. East German industrial production collapsed to one-third of its former level.
>> View Article | created on: 10/08/2007
