End of 1980’s
Soviet Union of Russia under communism faced a severe shortages of basic food supply. This led to distribution of food like that of war time using food cards restricting each citizen to a certain amount of food only. State deficit grew from 0 to 109 billion rubles; gold funds decreased from 2000 to 200 tons
Mikhail Gorbachev the then president of Sovient union of Russia tried to liberalize soviet union from the clutches of COMMUNISM and to bring people out of avert poverty but all his efforts was in vain.
During the same period, In East Germany where Russia colonized and imposed COMMUNISM went under adverse poverty. People in east Germany fled to west Germany where free market was followed.Both professionals and laborers fled out of east Germany and into west Germany.
To control this exodus Soviet Union of Russia built a huge wall which was famously called as BERLIN WALL.
In the late 1989 people thronged unto berlin wall and collapsed it. And in a few years Gurbachov appeared in a national television and announced the break up of the sovient union.
Mean while China too faced severe crisis. The then china primer Deng Xiaoping it successfully shifted its focus from Culture revolution to development by bringing in free market policies., SEZ’s which were ideally against the principals of Mao. This act of Xen Xiapongg liberalizing china from the clutches of communism changed the destiny of China.
And In India, which was once a crown jewel of Controlled based economy, had to change track as it went under a huge BOP isssues. Reformist then FM and now PM Dr. Manmohan Singh and The then PM Narasimha Rao changed the idea of India, once and for all.
The end of 19th century gave a death blow to Marxism and communism across the world.
The fight against the communism all started with the IRON LADY Margaret Thatcher. Taking over a ailing Britain which was burning under trade unions she stood her ground, broke the unions and brought back the entrepreneurial energy into Britain.
Privatizing loss making public sector companies showed the world the beginning of the end of Communism.
Her political philosophy was DEREGULATION, PRIVATIZATION, flexible labour market and reducing power and influence of trade unions.
Without this grocer’s daughter the world over would have been ailing under communism.
Long live THATCHERISM.
(Today, India requires a leader with the calibre of Magret Thatacher. )