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In what way, other than in name, is China not following the individualist/"free markets" model?
by chibg10 9y ago
In what way, other than in name, is China not following the individualist/"free markets" model?
- majos 9y agoI agree that China is pretty capitalist, but state-owned enterprises strike me as pretty non-free-market.
- chibg10 9y agoI don't think there's a person in the world arguing that China's economic success is due to its SOEs.
- sct202 9y agoI think that the SOE have at least built up a lot of infrastructure (power, transportation) that has benefited independent companies. A lot of that would have made it much harder for non-SOE companies to be competitive.
- majos 9y ago"Due to" is a strong word, but as sct202 mentions it does seem to me like SOEs made it easier for other non-SOE companies to grow. For example, it's easier to build a bunch of cities if you have a bunch of steel manufacturing SOEs pumping out supply at a loss. At any rate, that's beside my point, which is that (whether or not they're useful) the existence of huge SOEs by definition isn't classical capitalism, no?
- k__ 9y agolol, yes. They became successful after getting more individualist.