this post was submitted on 06 Jul 2025
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Every major fucking country on earth today is a mixed economy.
Fair point, probably not the best term to use. In the video, Clinton uses "command economy" to describe them, and singles them out as member of the WTO that isn't a market economy.
China hasn't been a command economy since the 80s, though. And command economies consistently underperform market economies, to a staggering degree.
I mean, they're everyone's largest trading partner. You'd expect a planned economy to under perform the evolutionary pressures of a market. The first time. But the second? Or the third? What about command economy that learns from what didn't work in the past?
If every country is a mixed economy, then they're just the far end of the spectrum. More command than market, at least compared to most other places.
They're also the largest country, by population, in the world.
Uh, but planned economies do underperform compared to a market. The spike in Chinese prosperity was because of intense market reforms in the 80s and 90s which significantly increased prosperity and turned the country from immensely backwards and impoverished to increasingly developed.
Not really. The Chinese public sector of their economy is actually lower, as a proportion of GDP, than Sweden.