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> A lot of government funds have also been looted by CCP honchos. Yeah, because they're corrupt and undemocratic. I certainly don't endorse China. But they do
by bccdee 2y ago
> A lot of government funds have also been looted by CCP honchos.
Yeah, because they're corrupt and undemocratic. I certainly don't endorse China. But they do put to rest the idea that the freer the market, the stronger the economy.
- blackhawkC17 2y agoNo they don’t. China got richer when they implemented free market reforms, proving the idea. Unfortunately Xi is now focused on saber-rattling about national security and bullying neighbors. He has cracked down on free markets, and China’s economy is suffering due to his incompetence.
- bccdee 2y agoIt's not a binary. If we say market freedom is a spectrum with the USSR at 0 and the US at 10 (reductive, but let's pretend) then China moved from 0 to 5 and became a global power within a couple decades. This is a strong argument in favour of a level-5 economy, not a level-10 economy..
- hollerith 2y agoWhat are your reasons for thinking that the Chinese economy is well-performing? Chinese per-capita income is slightly less than that of Mexico, and you wouldn't use Mexico as an example of a well-performing economy. China is strong because of its massive population combined with an economy that performs better than the only other country with a similarly massive population.