They came back and said that this country [the Soviet Union] was amazing. They allocate resources, they give licenses, there is a planning commission that decides everything, and the country moves. So we took that model and forgot that we had a private sector . . . That private sector got put under this wall of regulation...
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By 1991, the private sector was there, but under wraps, and there was mistrust about business. They made profits! The entire infrastructure from 1947 to 1991 was government-owned . . . [The burden of state ownership] almost bankrupted the country. We were not able to pay our debts. As a people, we did not have self-confidence...