Council for Mutual Economic Assistance

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An international organization of the planned economies of the USSR and its allies. The CMEA was founded in 1949, and included the USSR, Bulgaria, Czechoslovakia, East Germany, Hungary, Poland, and Romania in Central and Eastern Europe, plus Cuba, Mongolia, and Vietnam. CMEA members tended to trade relatively intensively with each other. The organization broke up in 1991, as part of the collapse of both the USSR and the faith in central planning.

Subjects: Economics.

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