A purely economic view of transition is too narrow. Experience shows that interdependence between the economic, social and political spheres is at the heart of the transformation of the system and determines its legitimacy as well as its sustainability. There is also the diversity of transformation trajectories to consider, such as the social and Euro-centred trajectory followed in Central Europe, the depression-cum-State-crisis experienced in Russia and the gradualist and high-growth path followed, for instance, by China. Thus there is not one way for transformation.