If I remember correctly, it was bad translation. What actually was said that China won’t return to a planned economy like in the past. Ergo, a new kind of planned economy is the goal.
I don’t think that is correct. They currently have a market based economy that is under significant state intervention and they want to keep it this way. It could change in the future but I don’t think they have a concrete plan for that, which makes sense to me, since a market based economy is pretty much necessary to integrate with the western economy. What the bloomberg article states is very close in meaning to this excerpt from this CGTN article:
China’s success in moving from a Soviet-style command economy to a more market-driven one has also cultivated influential global companies like Huawei, TikTok, Tencent, Alibaba and BYD.
The country’s leaders often stress that the market should be allowed to play a decisive role in allocating resources, and China can never go back to a dominant centrally planned economy that often stifles innovation, discourages entrepreneurship and is much less efficient in distributing resources.
If I remember correctly, it was bad translation. What actually was said that China won’t return to a planned economy like in the past. Ergo, a new kind of planned economy is the goal.
I don’t think that is correct. They currently have a market based economy that is under significant state intervention and they want to keep it this way. It could change in the future but I don’t think they have a concrete plan for that, which makes sense to me, since a market based economy is pretty much necessary to integrate with the western economy. What the bloomberg article states is very close in meaning to this excerpt from this CGTN article:
Do you have a link of this?