By shifting from a centrally planned economy to a market-based one, China has fostered growth through decentralization and experimentation.
FORBES: Give China's New Leadership Time to Implement Needed Reforms
The road China has taken from a centrally planned economy has been brave.
Economic opportunities were exceedingly limited in its regulated and centrally planned economy.
Fourteen private banks, all of which are subsidiaries of Arab banks, have opened since Syria's centrally planned economy started to creak open in 2000.
But since 2005, when the government formally declared it was switching from a centrally planned economy to a market one, expatriates have been coming back seemingly in droves for good.
In addition to providing critical capital and helping underwrite both healthy and faltering SOEs, the listings provide legitimacy for China's centrally planned economy and create a global constituency with a vested interest in ensuring that these companies not only survive, but prosper.
An attritional stream of propaganda pours forth from his official media, and he is busily moving the country back to a centrally planned economy, depriving state agencies and companies of most of the autonomy they had gained in the market-oriented reforms of the 1990s.
Back in the 1960s, Americans feared the "terrifying efficiency" of the centrally planned Soviet economy, to borrow a no-joke famous phrase from the British politician Richard Crossman.
Hungary has made the transition from a centrally planned to a market economy, with a per capita income nearly two-thirds that of the EU-25 average.
But divided Korea offers a stark contrast between the blessings of a market based economy relative to its centrally planned counterpart.
The same is true for economies: the more complex the economy the more difficult it is to be centrally planned.
Proponents of the centrally planned pump-priming, deficit-spending welfare state see the gold standard as the enemy of a healthy economy.
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