Transition economies continue to deal with the remnants of the old central planning, statist system.

Name: Transition economies continue to deal with the remnants of the old central planning, statist system.
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Countries that have transitioned from a centrally planned economy to a market-oriented one are commonly referred to as transition economies. These economies are still dealing with the effects of the old system, such as state-owned enterprises and inefficient allocation of resources.

Transition Economies Continue to Deal with the Remnants of the Old