0
China is an odd character when it comes to the economy. China has a state-directed, right-wing economic and political apparatus. This means that there are elements of a planned economy (a command economy) and elements of capitalism (a market economy).
What generally happens is that industries in China are required to sell to the Chinese government a golden company share, which means that the government can override decisions of the company leaders and often uses this power. The use of such a power is typical of command or planned economies, especially when the Chinese government orders the company to create or produce a product that they would otherwise not choose to produce.
However, the majority of corporate decisions are made by the independent company officers, which is typical of a market economy. There are, generally speaking, no quotas and companies are allowed to produce the quantities of product that the market will bear. Prices are set by companies for most products and market infiltration by region is almost entirely at the company's discretion.
What else can I help you with?
Is china a market command or mixed economy?
It was a command but now it is slowly moving to be a market.
Who changed China's economy from command to free market economy?
Although China is not yet considered to have a fully-fledged free market economy, Deng Xiaoping is credited with having enacted many economic reforms that helped push China in that direction.
Which countries have predominantly command economies?
North Korea and Cuba have command economies. Recently, China has implemented free market reforms into its economy, so it could be classified as a mixed command economy. Before its collapse in 1991, the USSR could also be considered a command economy.
Does China have a market economy?
No, china does not have a market economy!
What are the three types of economy?
Command economy, market economy, and traditional economy. The United States of America is a Market economy.
Is Bahrains economy command or market?
a market economy
Is Greece market or command economy?
Market economy
What do you call an economy that is both partly command and market?
When an economy is partly command and partly market, is called a mixed economy.
What countries have a command economic system?
Some countries that have a command market economy include China, Saudi Arabia, and Syria. Venezuela and Laos also have command market economies.
Is Haiti a free market economy or a command economy?
Yes, Haiti is a command economy. A command economy is when the government controls the economy and you are guaranteed a job. However, with a command economy, you cannot open your own business.
Is turkey a market economy or command economy?
mixed market
Does Singapore have a command or free market economy?
A market economy
