The three major consequences of ‘Shock Therapy’ in the post-Communist regimes were:
a. In Russia, the Industrial complex which was built on a large scale and was owned by the state government had almost collapsed.
b. Approximately 90% of the industries were put up for sale to the private individuals and companies at a very low price.
c. It was called the largest garage sale in the history of the world.
d. The value of the ruble declined.
e. The inflation rate increased so high that people had lost their savings.
f. The collective farm system disintegrated.
g. The Russian old system of social welfare was destroyed.
h. The government subsidies were withdrawn which pushed many people into poverty.
i. Many countries were now divided into rich and poor sections which lead to an increase in economic inequality.
a. NATO was formed in April 1949.
b. It was a military alliance formed by the Western Alliance led by the US.
c. It was an association between them that claimed that any attack on any one of them would be recorded as an attack on all of them.
d. Each of the states was obliged to help the other.
a. It was formed in 1955.
b. It was an Alliance formed by the Eastern Alliance led by the Soviet Union.
c. Its main objective of to counter NATO's forces in Europe.
a. It was formed in 1954.
b. It was a military alliance formed by the east and southeast Asian countries led by the US.
c. Its main objective was to counter the Soviet attack in East and Southeast Asia.
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