Quote:
Originally Posted by amoeba
I have no idea how rich alternative history China would be in 2017 but I have a fairly good idea that it would have reached 2017 levels of relative world wealth 15 or 20 years early.
While the centrally planned economy has done well relative to its prior Maoist incarnation, there is plenty of evidence from HK and Taiwan that had a market based economy had developed in 1950, China would be better off than they are currently.
I think its a huge mistake to assume that the post Deng system from 1980 onwards is the most ideal of economic systems.
I didn't claim most ideal. It has done relatively well. Taiwan had quite a protectionist economy for a long time. HK is hardly useful for comparison. And Taiwan barely is either. China had hundreds of millions of peasants and very little industry in 1948. And the wealthy countries isolated it until 1972. And of course Taiwan and Hong Kong were where a lot of the wealth China had fled to in 1946-1949.
But anyway, it's generally true that China has done well from the 70s until now and Taiwan has done well from I guess the mid-60s until now, with different policies, but also different starting points.
And I think it's a mistake to assume that the best system for one country in one state of development is the best system for all countries regardless of state of development. And I think the same is really true within a given country and a mixed economy is best because not all populations, regions or industries are the same.
Last edited by microbet; 11-05-2017 at 10:04 PM.