Question

After 1993 is the second phase of market reform. What are the main elements of the second phase of market reformm And compared with the first phase of market reform and what are the differences?

Answer 1

Second phase of market reforms post 1993 era was emphasized on Universal Healthcare reforms and inclusive growth. The Us Debt Balanve sheet grew hummoungous due to expansionary fiscal policy and huge investment into healthcare, stability and economic prosperity .

Pre 1993 era saw degrowth in UsA and also focussed on savings based economy with limited economic expansion and hence lead to growth of Asian Economies. Pre 1993 era saw too much of economic cold wars and military expansion rather than economic expansion in contrast.