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What is the reason so many other countries are trying to make the transition to a capitalist economy?

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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.

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