Contrary to Western propaganda, China has a much greater degree of market capitalism than the United States.
The anti-China narrative is remarkably strong in the West, so this is a tough nut to crack.
‘Scott in China’ is an American economist and contributor to a fascinating Substack, Austrian China.
Summary
Compared to the United States, China has a much more capitalist economy, with the private sector and foreign businesses controlling 75% of its market.
The common perception of China as a communist state is wrong.
The country has a thriving market economy with strong property rights and limited government intervention.
The observable reality is that China’s economy is becoming increasingly liberalised and driven by the market, refuting myths about its centrally managed economy, communist system, and harsh social credit system.
China has now surpassed the US as the world’s largest recipient of foreign direct investment, further demonstrating its capitalist orientation.
China is a sleeping giant. Let her sleep, for when she wakes she will move the world.
Napoleon Bonaparte
