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> a free market only works when the different actor have roughly the same power Worked wonders for China though, lifting them from abject poverty to an industr
by DenisM 7y ago
> a free market only works when the different actor have roughly the same power
Worked wonders for China though, lifting them from abject poverty to an industrial powerhouse.
- tomp 7y agoThere's no free market in China. The government is pretty strict in banning foreign enterprises (that can only operate in China if they're co-owned 50% by Chinese) in order to develop local companies. So basically restricting the more powerful player and empowering the less powerful one. That (i.e. non-free markets) has worked wonders for them.
- Svperstar 7y agoThat wasn't the free market. The US decided to make it cheaper to ship goods from China to the US then it is for businesses in the US to ship inside the US. Government intervention all the way.