China has achieved what western thought and rhetoric has long written off as being impossible --- they have developed their own hybrid economic system that has broken western "free market" capitalism. This eliminates rampant infighting that wastes tons of resources in the west (patents, trade secrets, lawsuits, etc).
Internally, China is highly socialist. Technology and scientific knowhow is not horded but openly shared with all *Chinese* companies.
Externally, China is purely capitalist --- and continues to offer products and services at prices the west can't match. By western thinking, this should not be possible due to the "obvious" inefficiency of the evil socialism.
1 comment
[ 3.5 ms ] story [ 13.8 ms ] threadChina has achieved what western thought and rhetoric has long written off as being impossible --- they have developed their own hybrid economic system that has broken western "free market" capitalism. This eliminates rampant infighting that wastes tons of resources in the west (patents, trade secrets, lawsuits, etc).
Internally, China is highly socialist. Technology and scientific knowhow is not horded but openly shared with all *Chinese* companies.
Externally, China is purely capitalist --- and continues to offer products and services at prices the west can't match. By western thinking, this should not be possible due to the "obvious" inefficiency of the evil socialism.