... resulted from deregulation of prices and change in relative price ratios that created the need for reallocation of resources in order to correct the industrial structure inherited from centrally planned economy. The end of Cultural Revolution in China in 1976 revived the two competing forces of institutional centralization and accelerated growth, which in contrast requires decentralization (Riskin, 1987). ... made extraordinary efforts to build their socialist economies, but they experienced failure rather than success. China was impoverished by the Cultural Revolution, while the Vietnam...

• Word Count: 2154
• Approx Pages: 9
• Grade Level: Undergraduate

... China. For Deudney and Ikenberry the fall of autocracy is inevitable because capitalism inevitably creates a substantial amount of wealth for some. Deudney and Ikenberry assert that China will soon undergo a revolution because any individuals that gain wealth in a capitalist economy then strive for power which in an autocracy is unattainable. The authors draw strong comparisons between China and the USSR noting ... that it too was once an emerging industrial nation but, that eventually its citizens toppled its own government in the search for liberty and political power. In summarizing,...

• Word Count: 1285
• Approx Pages: 5
• Has Bibliography
• Grade Level: Graduate