East Europe's Reforms and Developing Countries' Trade Prospects: A Medium Term Perspective

After years of grim dullness, the European polity is producing so many sensations totally unpredictable developments - that it is hard to pick the biggest. Who would have thought, for instance, death of communism in the Eastern block and rebirth of democracy? Who would have thought that Soviet empire in the East? Who would have thought that Soviet Union and its Warsaw pact - cousins would begin their journey to a common European home? Who would have thought that the great communist countries like the Soviet Union would uphold the sanctity of market? And yet, we are curious witnesses to spectacle of aevelopments happening in the central and eastern Europe at break-neck-speed - Tearing the East-West division and the post-1945 order of political stability.