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> China did well after adopting a capitalist economic model. Not so well after adopting a communist economic model. Let's be clear here -- regardless what you
by door103 5y ago
> China did well after adopting a capitalist economic model. Not so well after adopting a communist economic model.
Let's be clear here -- regardless what you think of the Chinese government, they are far from a "capitalist economic model". Many major industries are nationalized, the state plays an enormous role in the economy. 60% of their economy by market cap is state-owned. It isn't Soviet-style or Mao-era socialism, but it is still a very different system than western capitalism. It's similar to the NEP era in the USSR (1921-1928)