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61 sats \ 0 replies \ @Solomonsatoshi 13 Apr \ parent \ on: "Americans would be better off working in a factory" vs "I would" econ
Chinas economic success is due to the balance between central planning, regulation and direction of capital flows and the underlying culture of enterprise and wealth accumulation within Chinese culture being unleashed.
Successful economies always rely upon the successful combination of market forces and government guidance, regulation and strategic planning.
There is a culture of engineering in modern China that enables it to be the dominant global manufacturing economy that all other economies are now more or less dependent upon for manufactured goods and sale of commodities.
Without China strong regulation and sanctioning of anti competitive behaviour it would not have achieved the growth and market leverage it now has.
Only a government has the motive and power to advance the overall best interests of the nation state economy.