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Old 20th May 2019, 01:16 PM   #1259
dudalb
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Originally Posted by McHrozni View Post
China hasn't been a command economy since late 1970s. It's now a weird corporate-dictatorial model, with heavy state support for domestic enterprises and considerable state enterprises. These are ineffecient and held up mainly by unsuistainable spending by local governments. China has sought to export the misery lately, calling it "road and belt initiative". It's a debt trap in all but name, it has proven such in just about all the cases nad has zero success stories thus far, but Chinese government tends to ensure the partners keep their mouth shut.

I think 1930s Italy comes closest, but it didn't go nearly as far as 2010s China did. The system is effective, if there is a large government behind it all. Comparing this to the Venezuelan omnishables is a tad wrong. Venezuela featured an oil rent economy coupled with rampant borrow and spend economy during the boom years. There was no overall master plan or anything, just throwing money left, right and center, while aiming for the pockets of the few - a true kleptocracy if there ever was one.

McHrozni
CHina has been described as a CINO country; Communist In Name Only.
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