What were the economic advantages of state regulation of the economy, and what were the privatization and involvement

What were the economic advantages of state regulation of the economy, and what were the privatization and involvement of Asian states in the world market?

Benefits of state regulation of the economy;
1) State control
2) State responsibility
3) State risks
Disadvantages of state regulation of farms;
1) Defeat corruption
2) shackle economic initiative
Benefits of farm privatization:
1) Economic freedom
2) Own risks
3) Net profit net of taxes
Disadvantages of farm privatization;
1) Big risks
2) Losses incurred at their own expense
In the 1970s and 1980s, Thailand and Malaysia went over to privatization, i.e. created favorable conditions for investment (capital inflows). A real economic boom began, which spurred the construction of new factories that were now included in global chains. Malaysia produced parts for modern American computers, and Thailand developed an advanced tourism industry.