Murtaza Hussain
@mazmhussain
China treated capitalism as a tool to get from point A to point B, placing it into a walled garden within their society while also maintaining other incongruent social and economic institutions. The U.S. on the other effectively replaced its entire national identity with capitalism without most people even realizing this is what happened. Now we will see which approach proved more successively.
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Rando
@chasing-pointers
China != capitalism. Two reasons: 1. Capital controls. Capitalism and capital controls are anathema 2. Markets exist in all economies, even centrally planned command-economies. It is false and wrong when people point to market-pricing functions in communisms and say it's "capitalism". It is not. It's just markets functioning irrespective of the fractions and distortions, which derive from basic microeconomic principles, entirely unrelated to any notion of capitalism.
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Rando
@chasing-pointers
*frictions
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