After the collapse of the USSR in 1991, the Russian Federation adopted, through what it was called the “shock therapy”, the market economy and the capitalism system. 4 years later, as a consequence of an always more globalized economy, the former trade agreement called GATT (general agreement on tariffs and trade) was replaced by a new entity: the world trade organization (WTO).
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After the collapse of the USSR in 1991, the Russian Federation adopted, through what it was called the “shock therapy”, the market economy and the capitalism system. 4 years later, as a consequence of an always more globalized economy, the former trade agreement called GATT (general agreement on tariffs and trade) was replaced by a new entity: the world trade organization (WTO).
