Economic reforms in the centrally planned economies and China

Since about the middle of the 1980s, virtually all centrally planned economies have announced their intention of changing economic policies, policy instruments and associated institutions. Some have already embarked on far-reaching modifications. Others are in the process not only of formulating the purposes to be served by changes as yet incompletely defined but of designing the broad steps of the transition phase leading to a modified economic environment. Finally, some countries have not yet committed themselves to broad-based transformations. But even in these countries such shifts are bound to take place in time, if only because the mechanisms for reaching and implementing economic decisions in partner countries are being modified. This is also likely to require adjustments in the mechanisms and policies of regional economic integration established for the Council for Mutual Economic Assistance (CMEA). Because of the importance of CMEA relations, changes in the framework of CMEA will have repercussions on all members.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Climate Action