Question
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The collapse of Eastern Europe in ______ and USSR in ______ lead to emergence of the transitory economies.
Answer (Detailed Solution Below)
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The collapse of Eastern Europe in 1989 and USSR in 1991 lead to the emergence of the transitory economies.
Important Points
- The revolutions of 1989 led to a wave of revolution from the late 1980s to the early 1990s which destroyed communism in Central and Eastern Europe.
- Eastern Europe collapsed in 1989 and the USSR in 1991.
- The fall of USSR led to the rise of the floating economy.
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