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China and free market in the same sentence is quite a paradox. Did you mean to say they moved from a planned economy to a market economy? A market economy yes
by A_non_e-moose 3y ago
China and free market in the same sentence is quite a paradox.
Did you mean to say they moved from a planned economy to a market economy? A market economy yes they do have, but free? Boy oh boy that it is not. Plenty of western companies wanting to enter that market are finding that out the hard way
- WalterBright 3y agoNothing human is ever perfect. Markets work better the more free they are. China went for free markets, and it paid off spectacularly. Socialism gets steadily worse the closer to "true" socialism it gets.
- nrr 3y agoSorry, I'm not sure I follow. What does socialism have to do with markets or the lack thereof? I always conceived of that as, like, worker cooperatives, not command economies.