Final answer:
The transition to capitalism in Eastern Europe, focusing on Russia and China, involved the shift from a centrally planned to a market-based economy through privatization, liberalization, and economic reforms.
Step-by-step explanation:
The subject of the question is the transition to capitalism in Eastern Europe, specifically focusing on Russia and China. The transition to capitalism refers to the shift from a centrally planned or command economy to a market-based economy, where the means of production are privately owned and operated for profit.
In Russia, the transition to capitalism began in the 1990s after the collapse of the Soviet Union. This involved the privatization of state-owned enterprises, liberalization of trade and investment, and the establishment of a market economy.
In China, the transition to capitalism started in the late 1970s with the introduction of economic reforms under Deng Xiaoping. These reforms included the de-collectivization of agriculture, establishment of special economic zones, and the opening up of the Chinese economy to foreign investment and trade.
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