You must log in or register to comment.
The PRC has a socialist market economy. Central planning and public ownership governs the large firms and key industries, while allowing controlled markets in special economic zones to promote growth in smaller and light industry. I wrote a summary of why they have their model, along with resources for further reading, here.
Basically, China is a command economy where markets are used as allocators. The goals are decided by the state, and markets are used to figure out how to move resources around efficiently to achieve these goals.
Yep! That’s a great way to describe it.
