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PRC "progress" was a form of control. CCP basically handed everyone "rings of power" to rule over them. All their wealth is meant to be kept inside because that
by wesapien 3y ago
PRC "progress" was a form of control. CCP basically handed everyone "rings of power" to rule over them. All their wealth is meant to be kept inside because that's control of the nation. Imagine if they didn't have currency controls, every rich person there would dump the Yuan for other currencies and overseas real estate. Meanwhile, all the inflated properties in the PRC will drop significantly. Unrest or instability is not good for CCP.
- izacus 3y agoWhich is all besides the point - the point is: you need market competition for capitalism to work. As soon as competition is broken, your economy starts stagnating and other incumbents start eating away at it.