transition economy

(redirected from Transformation economy)

transition economy

a term used to describe a country the economic system of which is moving away from a CENTRALLY PLANNED ECONOMY based upon a centralized national plan to a decentralized PRIVATE-ENTERPRISE ECONOMY based upon the PRICE SYSTEM.
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Al Awar concluded: "As we believe in the importance of taking proactive steps to embody the goals of Dubai 10X initiative, we vow to make a positive change in education and other vital sectors to accelerate the emirate's transition from experience-based economy into a transformation economy.
It's a transformation economy, where even its pasta is made from 40% imported cereal and its Mozzarella from 40% dairy imports such as liquid cream or semi-processed cheeses.
Once the Experience Economy has peaked, the Transformation Economy will take over.
With the digital transformation economy set to be worth $2.
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