Question

Identify the main differences between the socialist economics of the Soviet Union and China. In your answer, include a discussion of organization, operation, and reforms.

Answer 1

ANSWER:

The difference between the socialist economics of the soviet union and china are:

1. Russia communism started with vladmir lenin in 1917 and the revolution which ousted czar was focused on the workers revolution while on the other hand in china it was the peasant revolution as china had a large number of peasants.

2. In mid nineteen fifties russian economists were in favour of communism and captalism co existing together but china rejected it outrightly as after the demise of stalin russia changed the system towards being a socialist policies while china was still engulfed in communism.

3. After the demise of mao china's economy moved towards capitalism that is lot of free trade was encouraged which has helped in the rising of the economy while russia holded themselves towards the conventional economy.

4. During the later years russia has moved towards in reviving the economy towards a market based economy while china has remained towards market socialism.

CONCLUSION: Russian communism declined while chineese communism lasted due to china being more proactive towards the changing demands and scenarios of the globalised world.