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12 March, 20:21

5. Economic reforms were begun in Libya in the 2000s to

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  1. 12 March, 20:23
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    build a market oriented economy

    Explanation:

    Libya is a country located in Northern Africa. It has been ruled for several decades by their famous leader Moamer el Gadafi. Gadafi was a leader that had absolute power, and in many ways the country was led by communist principles. Every resources of the country was owned by the government, and the private sector was not allowed to exist. Unlike the other communist or socialist based system though, Libya had it much better. The people in the country, in general had a relatively good life, the economy was stable, and the country was safe for living. This all changed in the 2000's. After Gadafi's proposal and attempt to establish an African Union, having its own continental currency, and pretty much ban the dollar, the USA and its allies intervened in order to protect their economic interests. Libya was attacked with the excuse of being a totalitarian regime, as well as to establish a market oriented economy. Libya was invaded, Gadafi murdered, and while the market oriented economy was established in a way, the country has been is such a terrible condition ever since that it has no benefit of it whatsoever.
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