4 ms·
China and Russia have been capitalist for decades. Russia is doing far better than its communist days, not to mention China.
by hearty770 13y ago
China and Russia have been capitalist for decades. Russia is doing far better than its communist days, not to mention China.
- rayiner 13y agoFirst, neither China nor Russia are capitalist. They have market-ish economics with strong authoritarian government management of the economy. 43% of China's industrial and business profit results from state owned companies. Second, Russia is doing better now than it was at the tail end of the Soviet Union, but technologically it progressed far more during Soviet rule than it has since. Before the Soviet Union Russia was a total, agrarian, rural backwater. Chronically a hundred years behind the rest of Europe. The Soviets built all the technology and infrastructure that is keeping the country going to this day.