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1 January, 20:03

What is privatization, and why is it so important in a country's transition to capitalism?

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  1. 1 January, 20:06
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    Privatisation is the process of allocating resources or project from the government's control to the private sectors' control.

    Capitalism is aimed to let all people in the market to freely compete and influence the price and output in the market.

    In order to do this, it requires less government control that could influence the outcome in the market.
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