Russian economy. He overthrew a radical economic reform, focusing on restructuring Russia’s economic system-from the world’s largest command economy into a free-market one. His reform can be explained by three key principles: fiscal austerity, privatization, and liberalization of its economy. It was carried out through the entire sphere of Russia, with particular emphasis on five aspects:
Ⅰ. Introduction
1. Background/ Actual Case
Sewol ferry disaster stirred strong controversy in Korean. In the process of investigating the causes, they revealed that the Gwanfia of the Ministry of Oceans and Fisheries is related to corruption. Gwanfia is a portmanteau made from 'gwan', meaning government or bureaucracy and mafia. A deep-rooted, widespread network of former government employees
Circumstance of occurrence
2008~2009 upsurge of financial crisis and beginning of government remedy.
The early 2010, concernment about economic crisis spread because of The southwest Europe(PIIGS) budget deficit
The world three major credit-rating agency(MOODYS, S&P, FITCH) made downward revision in Portugal’s credit rating
2. Finance and real economy aspect
Major economic indica
Background of Collapse
External Situation
1. Afghanistan War(1979.12.25.)
- Coup of PDPA causes Resistance : Crisis for SU,
Carried out an invasion
→ International condemnation
Economic & Military burden
2. Ne0-Cold War against US
- Ronald Reagan’s Election as President(1981)
: Hard-Line