The only problem was that it was a communist nation with centrally planned economy and where the people's life was of secondary concern for the government.
Ultimately, it likewise seeks a centrally planned economy directed by a dominant-party state that controls economic production by way of taxation, regulation and income redistribution.
In 1986, the government made a decision to move from a centrally planned economy to a decentralised model promoting the private sector as the prime engine of growth.
His economic reforms undermined the moribund, centrally planned economy without establishing a functioning market to replace it, leading to widespread shortages, rationing, and public discontent.
Since the centrally planned economy went into decline 20 years ago, a significant share of economic activity has moved into the semi-legal, largely unregulated market economy.
An open, dynamic market economy was gradually replacing a closed, centrally planned economy, resulting in widespread social change and breakdowns in the welfare system.