Final answer:
Countries are transitioning to a capitalist economy for rapid economic growth, improved living standards, and increased participation in global trade.
Step-by-step explanation:
Countries are currently undergoing economic transitions from less developed to more developed economies. Privatization is one aspect of this transition, where government-owned businesses are sold or transferred to individuals. Many countries are moving towards a capitalist economy because it offers the potential for rapid economic growth, improved living standards, and increased participation in global trade and financial systems.