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Hong Kong and Singapore are the two freest economies. They have very minimal welfare states, with relatively light regulation and taxation. Their wealth creatio
by bildung 12y ago
Hong Kong and Singapore are the two freest economies. They have very minimal welfare states, with relatively light regulation and taxation. Their wealth creation and economic growth have been astounding over the last ten years.
Hong Kong and Singapore had an astounding growth of 2.9% and 3.9%, while socialist China had a miserable 7.7%? I don't get the impression you looked at the numbers at all, or did you?
- maratd 12y agoIn what way is China socialist? It's a kleptocracy and an aggressively capitalist one at that.
- bildung 12y agoWhether or not China is socialist or capitalist doesn't really matter: GP said "freer" economies have higher growth. Is China freer than Hong Kong or Singapore? (BTW: China sure has a market economy, but OTOH it lacks multiple specifics of contemporary Western capitalist economies, e.g. it's not primarily driven by the financial markets, a significant portion of the workforce still works at state owned enterprises, much deeper planned macro economical development than in the West, ...)