What is privatization and why have some governments used it?

Privatization: The transfer of ownership, property or business from the government to the private sector is termed privatization. The government ceases to be the owner of the entity or business. The process in which a publicly-traded company is taken over by a few people.

Why have some governments used it?

There are numerous reasons why governments turn to privatization. Cost reduction is one motivation for privatization. The desire to transfer risk from the public sector to the private sector can lead to privatization. Another rationale for privatization could be as a new source of revenue.

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the first historical instance of china engaging in internationalism was during the han dynasty.[1] at the start of the han dynasty, the huns in the north were attacking the frontiers of han and trying to obtain riches. emperor wu of han wanted to gain an alliance with a country called dayuezhi so the two countries could join together and fight against the huns.[2] to obtain this alliance, emperor wu sent zhang qian to the west to establish economic and cultural connections.[2] history records that during the han dynasty there were four primary avenues of contact between china and europe. they included the northern land route, the central land route, the southern sea route, and the far southern sea route.[1] the most famous of these routes is the central land route, or the classical silk road, comprising a network of roads stretching from northwest china to the ports of syria and the black sea, which passed through the oasis of the turkestans and northern persia.[1] the silk road was significant for chinese emperors because it provided dominance over central asia by developing resources and provided new markets for the export of china's most valuable resources.[1]

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