Professional Custom Accounting: Speculate about the likelihood of success in achieving a prosperous market economy for a country
Many developing countries in the “Global South” turned to socialism in the past as a means to solve their economic problems. Now, in light of the evident failure of socialism, many of these countries seek to create fast growth through the establishment of market economies.
· Select a country in the Global South that has been in the news recently and then visit a reputable website, read a newspaper, or watch a TV broadcast to catch up on the latest events relating to the economic development of the country.
· Next, using the country you researched, identify which of the five (5) market economy policies the country appears to be following. Provide support for this conclusion.
· Speculate about the likelihood of success in achieving a prosperous market economy for the country you researched.
· Next, discuss which of the policies is most effective and least effective for the country you researched. Provide a rationale for your responses.