Q. Many developing countries in the "Global South" turned to socialism in the past as a means to solve their economic troubles. At present, in the light of the evident failure of socialism, many of these countries seek to create fast growth through the establishment of "market economies."

Using South Africa, identify which of the five market economy policies this country appears to be subsequent. Explicate how you approach this result.

Speculate about the likelihood of success of achieving a prosperous market economy for this country. Explicate which among the policies is most effective and least effective for this nation? Provide a rationale with your answer.