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Cake day: July 5th, 2023

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  • While not saying China is not capitalist (to an extent), I don’t think that’s quite true. You might care about it if you utilize markets to determine prices and production in a part of the economy. As far as I know markets aren’t necessarily capitalist. Besides, even fully command economies have relied on people choosing to go to the store or a market to buy what they feel they need. The factories didn’t dump their output into people’s homes without consent in East Germany. The basic economic cogs - people doing work to transform natural resources into things them and others need or want, along with other people doing that and buying things from them - doesn’t change. So if consumer spending changes in a way that doesn’t work well for the economy the central planners want, they still have a problem. That’s not different. What’s different is what solutions can a non-capitalist government employ compared to a capitalist one.