The essay should compare the process of economic transition from the system of centrally planned economy to a market economy in the former Soviet Union (not only in Russia) and China. In particular, it should address the following issues: 1. What were the starting economic, social and political conditions of market-oriented reforms in the Soviet Union and China? 2. The pace of reforms and their sequencing; their economic and political determinants. 3. Results of reforms in economic and social term. 4. Comparison of the current economic systems in China and in the successor countries of the former USSR. 5. Differences between successor countries of the former USSR in their reform strategies and outcomes. 6. Forthcoming economic and social challenges in China and successor countries of the former USSR. The essay should not exceed 2,500 words and represent students original work. The literature and statistical sources used in the essay must be properly documented according to international publication standards (and with full respect to intellectual property rights). VERY IMPORTANT!! Assessment criteria: each criteria gives 10 points maximum, thus 40 points maximum for the essay:- 1. The essays content whether the essay addresses the requested topic in a complete way, and answers all the suggested questions 2. Understanding of the topic and processes analyzed, correctness of the facts, statistics, etc. 3. Innovativeness and originality of analysis etc. 4. Clarity of essays structure and language, familiarity with professional terminology, proper documentation of sources, including the statistical ones, keeping essay length within the recommended limit (2,500) words.