On Sun, Jan 5, 2014 at 4:58 PM, James Bowery <[email protected]> wrote:
China seems to be pursuing a hybrid command economy not unlike that often > called "fascism". ... Which is superior when it comes to exploiting > technological opportunities? > China seems to be pursuing the path that Singapore pursued during the previous century, and from which Singapore benefited greatly. I have not studied their economic development closely, but I get the impression that they did not hesitate to ignore all kinds of liberal economic dogma relating to free trade, free-market allocation of capital, etc. Their command economy and trade barriers brought them to a certain point in the 70s, 80s and 90s, and then they started to liberalize more. They are social engineers par excellence. Every policy goal they wish to bring about they find some way to attach monetary incentives. I suspect China is closely following that model and will open up a corresponding amount once its economy has a solid services sector. England did something similar with mercantilism during the renaissance and the early modern period. Eric
