COMECON


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Related to COMECON: Cominform

Comecon

(ˈkɒmɪˌkɒn)
n
(Economics) (formerly) an association of Soviet-oriented Communist nations, founded in 1949 to coordinate economic development, etc; it was disbanded in 1991 when free-market policies were adopted by its members. Also: CMEA
[C20 Co(uncil for) M(utual) Econ(omic Assistance)]

COMECON

1949 An association of Soviet-dominated nations, originally those of East Europe but later including Mongolia (1962), Cuba (1972), and Vietnam (1978) intended to co-ordinate economic development. Used by Stalin to put pressure on Yugoslavia and to counter growing western economic interdependence.
Translations

Comecon

[ˈkɒmɪkɒn] N ABBR (formerly) =Council for Mutual Economic AidCOMECON m

Comecon

abbr of Council for Mutual Economic AidComecon m or nt

COMECON

[ˈkɒmɪˌkɒn] n abbr =Council for Mutual Economic AidCOMECON m
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References in periodicals archive ?
Comecon eventually got the better of their opponents to win 14-11.
But after that, it wasn't just that we had a lack of a concept, there was also the collapse of the COMECON market.
Back in the COMECON days, Cuba got subsidized wheat shipments from Russia, so feed production was cheap.
This apparent anomaly is due to two factors, firstly the transition from an oil-first policy in the world economy 1945-1973 to one of a balance of primary fuels and a greater development of fuel efficiency; and secondly the absolute decline in the economy of the former Comecon bloc of nations in the past decade.
The disintegration of the Soviet Union and the COMECON in the latter part of the 1980s forced economic and political changes in Mongolia.
Those products of the heavy industry and machine industry which were characteristic of COMECON trade have given way to more consumer-oriented products both for exports and internal use.
In the Soviet system, foreign trade did not play a major role, although trading among COMECON countries developed over time.
So far, $14 billion has been invested in the form of direct capital, equity capital investment in the former COMECON countries.
Comecon, the trading arm of the Warsaw Pact, recently collapsed.
First we briefly examine some socio-demographic facts and look at the current economic situation in the former Comecon countries.
COMECON is a 10-nation trading partnership formed by the U.
Against this background it is not surprising that the share of goods exchange of European COMECON (Council for Mutual Economic Assistance) countries in the total foreign trade of OECD (Organization for Economic Cooperation and Development) countries, which was still 4.