What does marketization mean?
The process of transforming a socialist economy into a market-based economy, often involving privatization and deregulation. This can also refer to the spread of market-oriented principles and practices in various sectors of society.
Example
"The government's marketization policies led to a significant increase in private sector investment and economic growth."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.