> The reforms [starting in 1976] de-collectivized agriculture, abolished the people's communes, relaxed price controls, allowed foreign direct investment into China, and led to the creation of special economic zones, most prominently the Shenzhen Special Economic Zone and the Shanghai Pudong New Area. Private enterprises were allowed to grow, while many state-owned enterprises were scaled down or privatized. Shanghai Stock Exchange and the Shenzhen Stock Exchange were established in 1990, allowing a capital market system
> They only started making things once they realized capitalism was better.
Free commerce is not the same as capitalism. A country where production, wages, and ownership are decided centrally can hardly be said to be unfettered capitalism.
China is a great example of a counter point to the argument. They only started making things once they realized capitalism was better.
https://en.wikipedia.org/wiki/Reform_and_opening_up
> The reforms [starting in 1976] de-collectivized agriculture, abolished the people's communes, relaxed price controls, allowed foreign direct investment into China, and led to the creation of special economic zones, most prominently the Shenzhen Special Economic Zone and the Shanghai Pudong New Area. Private enterprises were allowed to grow, while many state-owned enterprises were scaled down or privatized. Shanghai Stock Exchange and the Shenzhen Stock Exchange were established in 1990, allowing a capital market system
> They only started making things once they realized capitalism was better.
Free commerce is not the same as capitalism. A country where production, wages, and ownership are decided centrally can hardly be said to be unfettered capitalism.
> A country where production, wages, and ownership are decided centrally can hardly be said to be unfettered capitalism.
The reforms in China I listed heavily cut down on that. Are you claiming that China is somehow less capitalistic now compared to 1976?
By your metric the US isn't capitalistic because NASA and various govt agencies and entitlements worth trillions of dollars a year of taxes exist.
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