Economic Development

Influence of the USSR in LDC's The USSR, as in the other members of the COMECON, develops a 5 year economic planification system: During this period, the USSR establishes the main streams within which the trade will flow. As a result of WWII, the USSR went better off than any other European country; its economic growth was succeeding and so did its production (although the standard of life decreased because of the war and Stalin's regime). Due to all of these reasons above exposed, some LDC's, leadered by India, started having in mind the possibility of planning its economy. As a result of the planning, heavy industry was suddenly built up in India (the USSR's industrial revolution, during the late XIXth century, based itself on intensive steel production). The planning was obliged, as a result of the need of creating a basic infrastructure within the LDC's. Among the countries, that during the 60's adopted a Marxist system was Cuba, with the revolution, coup d'état made by Fidel Castro & Argentine born Che Guevara. The market price system was largely mécofiant, as a result of badly based supply and demand elasticity...