Ease The Pain Of Disintegration...

The immense upheaval in the Soviet Union represents history's most colossal shift from a repressive, authoritarian regime toward democracy. It also promises to result in the most prodigious attempt anywhere, anytime to leap from a tightly controlled economy to a more open, market-driven system. The failed coup seems sure to accelerate the achievement of what had been one of President Mikhail Gorbachev's main goals all along: to connect the closed Soviet system to the global economy. When newly independent republics pursue their own reforms, this seems likely to happen in a more piecemeal fashion, but no less surely. As the Moscow bureaucracy's monopoly of decision-making crumbles, emerging entrepreneurs are bound to look outward for suppliers, markets, knowhow, and investment partners. The eventual result is likely to be a vast opening for Europe's economic dynamo. What could be in store, over the decades ahead, is the emergence of a huge, increasingly interlinked market of 700 million people stretching halfway around the world.

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