Comparative analysis of economic reforms in Russia and China

The differences in the ways of reform in Russia and China, which affected the overall economic development of the countries, are considered. The failure of reforms in Russia has led to certain consequences in the perception of the entire regulatory order and people's trust in the state. Shocking therapy and privatization in Russia have determined a strong income differentiation, unabated to date. The reforms in China were based on economic goals; in Russia the goals were both political and economic. This predetermined a more successful course of reforms in China, and less successful (or even unsuccessful) reforms in Russia.

direction, creative elite, challenges of the time, economy, politics, market reforms, privatization, successes, Karamzin principle, failures