China learns it can’t control the laws of economics - The Globe and Mail
"Economist Friedrich Hayek wrote, “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” But Mr. Hayek was a champion of classical liberal economics, and China’s state capitalism operates quite differently. The bottom-line factor in China’s economic decline seems tied to the political, not economic, policies of Xi Jinping’s leadership since he became General Secretary of the Chinese Communist Party in 2012."
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