Quote Originally Posted by Critter7r View Post
D: The system they switched to isn't Capitalism.
it was a huge huge leap away from communism and toward capitalism. Here are some books if you wish to begin your education:

"Capitalism With Chinese Characteristics"

"How China Became Capitalist"

In his new book titled Markets over Mao: The rise of private businesses in China, Lardy argues that even though SOEs still enjoy monopoly positions in some key sectors in China, such as energy and telecommunications, their role in the overall economy has diminished significantly over the years. Here are some of the facts he presents to back his thesis: in 2011, China’s state-controlled firms only accounted for about a quarter of the country’s industrial output; and their share in exports has dropped to about 11% today; in 2012, state firms were only responsible for about one-tenth of fixed investment in manufacturing. And in terms of employment, SOEs employed about 13% of China’s labor force in 2011, a dramatic decline compared with the 60% figure recorded in 1999.




U.S.'s Startup Myth; China's 'Ford Moment': Commentary Review ...
Jul 3, 2010... may have to go Communist. It's tempting to wonder which way China will go. ... So far, China has taken the first path, going more the way of capitalism than Communism. ... Krugman or Paulson: Who You Gonna Bet On? ...

404. Page Not Found - Bloomberg... - Similar

The Myth of Asia's Miracle

Paul Krugman* ... Communist growth rates were certainly impressive, but not magical. ..... unfair: one is weighing down the buoyant performance of Chinese capitalism with the leaden performance of Chinese socialism. ... Even a modest slowing in China's growth will change the geopolitical outlook substantially. ...

web.mit.edu/krugman/www/myth.html - Similar