With regards to central planning, neither China nor the US is fully in or out of it. China still has Five Year Plans and some central planning, but Deng Xiopin

With regards to central planning, neither China nor the US is fully in or out of it. China still has Five Year Plans and some central planning, but Deng Xioping took steps away from it in the 1980s. There's a mythology the US has no central planning, but it has had a lot of central planning since 1932 and certainly since 1941. Market makers watch for the presidentially nominated Powell to come out and announce the fed funds rate for our fiat currency, and the economy either speeds up or slows down in response. We are typing on a network the government paid BBN and other companies to create, on chips descended from the Fairchild chips that Air Force contracts funded. For various historical reasons, much of the central planning in the US is done via its very well funded military (then well funded military contractors pay think tanks and politicians to go out and say they're not so well funded)