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At unification, both the YAR and the PDRY were struggling, underdeveloped economies. In the north, disruptions of civil war (1962-70) and frequent periods of drought had dealt severe blows to a previously prosperous agricultural sector. Coffee production, formerly the north's main export and principal form of foreign exchange, declined as the cultivation...
Economic stagnation marked the period after reunification from 1975 to 1985. In 1986, the Sixth Party Congress approved a broad economic reform package called quot;Doi Moi, quot; (renovation) that introduced market reforms and dramatically improved Vietnam's business climate. Vietnam became one of the fastest-growing economies in the world, averaging...
The economy is based primarily on agriculture and agricultural processing; Uzbekistan is a major producer and exporter of cotton. It also is a major producer of gold with the largest open-pit gold mine in the world and has substantial deposits of copper, strategic minerals, gas, and oil. Since independence, the government has stated that it is committed...
Prior to the first exports of oil in 1962, the UAE economy was dominated by pearl production, fishing, agriculture, and herding. Since the rise of oil prices in 1973, however, petroleum has dominated the economy, accounting for most of its export earnings and providing significant opportunities for investment. The UAE has huge proven oil reserves, estimated...
Turkmenistan was an important supplier of raw materials, especially cotton, oil, and natural gas, during the Soviet era. One-half of its irrigated land is planted in cotton, making it at one time the world's 10th-largest producer. However, poor crops in recent years have led to a decline in overall cotton production. Turkmenistan possesses the world's...
Turkey began a series of reforms in the 1980s designed to shift the economy from a statist, insulated system to a more private-sector, market-based model. The reforms spurred solid growth, but growth that has been punctuated by sharp recessions and financial crises in 1994, 1999, and 2001. Turkey's failure to pursue additional reforms, combined with...
After President Yudhoyono took office on October 20, 2004, he moved quickly to implement a quot;pro-growth, pro-poor, pro-employment quot; economic program. He appointed a strong group of economic ministers who announced a quot;100-Day Agenda quot; of short-term policy actions designed to energize the bureaucracy. President Yudhoyono announced an ambitious...
The Thai economy is export-dependent, with exports accounting for 60% of GDP. Thailand's recovery from the 1997-98 Asian financial crisis relied largely on external demand from the United States and other foreign markets. The Thaksin government took office in February 2001 with the intention of stimulating domestic demand and reducing Thailand's reliance...
Tajikistan is the poorest Commonwealth of Independent States (CIS) country and one of the poorest countries in the world. With foreign revenue precariously dependent upon exports of cotton and aluminum, the economy is highly vulnerable to external shocks. In FY 2000, international assistance remained an essential source of support for rehabilitation...
Through nearly five decades of hard work and sound economic management, Taiwan has transformed itself from an underdeveloped, agricultural island to an economic power that is a leading producer of high-technology goods. In the 1960s, foreign investment in Taiwan helped introduce modern, labor-intensive technology to the island, and Taiwan became a major...
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