The main reason why a severe downturn in oil prices during the early '80s was detrimental to the Soviet economy is because the Soviets depended greatly on the export of oil for their economy to strive--meaning that when prices fell so did their GDP.
Answer:
By enlightened despotism
Explanation:
Teh monarchs sayings were based on enlightened ideas ,and taking a superiority position the monarchy stated that the people named barbarians have to be erradicated
Justin Yifu Lin is a Chinese economist who is the author of the book "The Quest for Prosperity: How Developing Economies Can Take Off".
In his papers, Lin describes how the China, which many centuries ago was forced to enter a trade with Great Britain after the Opium Wars and was solely seen as a sourcing point, now faces a completely different reality in regards to commercial relations with the British.
The Chinese, whose strength relies on their massive and relatively cheap labor force, understood that the key to development was in acquiring knowledge that would let them thrive in the creation of their own industries. This process has been ongoing throughout the second half of the 20th century until nowadays, as British Enterprises set operations in Chinese Soil, employing Chinese citizens who would eventually benefit from all the knowledge they received. This process has resulted in the creation and incredible growth of global enterprises such as Hayer or Huawei.
