Neither the socialist command economy, favored by CCP conservatives, nor the Maoist attempt at a Great Leap Forward from socialism to communism in China's agriculture (with the commune system) had generated sufficient surplus value for these purposes.
[1] The economic liberalization of 1991, initiated by then Indian prime minister P. V. Narasimha Rao and his finance minister Manmohan Singh, did away with investment, industrial and import licensing and ended many public monopolies, allowing automatic approval of foreign direct investment in many sectors.
[3] The effect of these reforms has been positive, and since 1990, India has had high growth rates and has emerged as one of the wealthiest economies in the developing world.
The speed of the reforms can be partially attributed to the currency crisis that resulted from the former government's refusal to devalue the New Zealand dollar.
The policies included cutting subsidies and trade barriers, privatising public assets and the control of inflation through measures rooted in monetarism.
Other indicators measured were property rights, labor market conditions, government controls and corruption, the last being considered "next to non-existent" in The Heritage Foundation and Wall Street Journal study.
During the initial period (1985–1987) of Mikhail Gorbachev's time in power, he talked about modifying central planning, but did not make any truly fundamental changes (uskoreniye, acceleration).
Before that, the two decades of donor-sponsored reform efforts to Africa failed to help most sub-Saharan economies to overcome the fiscal and balance of payments deficits.
Under the Third Seven-Year Economic Plan (1987–93), DPRK aimed to focus on technology-based industry and to solve their scarcity of electricity.
In response, North Korea tried to attract foreign investors by endorsing joint venture and opening some free-trade zones.
Other than the decentralization policy, North Korea also kept trying to induce foreign investors in several ways, including depreciation of its currency and the initiation of Sinuiju Special Administrative District.