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To fit into the Golden Straitjacket a country must either adopt or be seen as moving toward the following golden rules making the private sector the primary engine of its economic growth maintaining a low rate of inflation and price stability shrinking the size of its state bureaucracy maintaining as close to balanced budget as possible if not a surplus eliminating and lowering tariffs on imported goods removing restrictions on foreign investment getting rid of quotas and domestic monopolies increasing exports privatizing state-owned industries and utilities deregulating capital markets making its currency convertible opening its industries stock and bond markets to direct foreign ownership and investment deregulating its economy to promote as much domestic competition as possible eliminating government corruption subsidies and kickbacks as much as possible opening its banking and telecommunications systems to private ownership and competition and allowing its citizen to choose from array of competing pension options and foreign-run pension and mutual funds When you stitch to all of these pieces together you have the Golden StraitjacketThomas Friedman In this paper based on the above definition of the Golden Straitjacket given by Thomas Friedman I try to identify how the Republic of Kazakhstan implements it into its economic policies Kazakhstan is the ninth largest country in the world and has rich reserves of coal oil natural gas gold copper and chromium Its location makes it key to the geopolitics of Central Asia Kazakhstan continues to enjoy a special mutual relationship with the United States because of its nuclear disarmament US investment and environmental initiatives It is the largest recipient of US assistance in Central Asia Kazakhstans leadership remains authoritarian but has demonstrated commitment to an open economy financial and health reforms and environmental policies While civil society and local activism are beginning to influence the government social inequities and corruption are prevalent Like the others Central Asian neighbors Kazakhstan is a nation in transition Part of the former Soviet Union a bit
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