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Globalisation & Economy Edexcel b

Can anyone help??? :confused:

Probably being as thick as a plank but what is the difference between communist and capitalist countries??? :eek:

Thanks!
Reply 1
Avatar for _poptart_
_poptart_
2
Communist countries tend to have a one-party dictatorship and the industry is state owned. (China)
Capitalist countries tend to emphasise that individual rights of people are important, and that the industry is privately owned. (USA).
So China's government controls the economy and sets targets for it, whereas the USA's economy is dictated by the market.

Hope I make sense :p:

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