Pretty long, but gives a really coherent explanation of how China's economic system is different from a traditional capitalist one or what most of us think about when we think of a "planned" economy.

They actually seem to have hit a pretty interesting balance between the two, in that they allow market competition in many respects while simultaneously keeping enough control to push the economy towards specific policy goals. Now, I've heard some suggestions that Chinese economic growth hasn't actually been as strong as is reported, but I don't know enough to evaluate that (or to distinguish what the practical difference is between "true" economic growth and what people believe it to be).

posted by johnnyFive: 307 days ago