minus-squaresztrzask@lemm.eetoWorld News@lemmy.world•Youth unemployment in China is getting worselinkfedilinkEnglisharrow-up5arrow-down1·12 hours agoExcept that it’s not planned. You can learn more about the subject on Wikipedia: https://en.m.wikipedia.org/wiki/Socialist_market_economy#:~:text=The socialist market economy (SME,ownership%20and%20state%2Downed%20enterprises. As per that article they literally are against the planned economy and think it’s a dumb idea. It’s also not communist - the most apt description would be “state capitalism”. Again, read the wiki page linked above for more details and reasons why. linkfedilink
Except that it’s not planned.
You can learn more about the subject on Wikipedia: https://en.m.wikipedia.org/wiki/Socialist_market_economy#:~:text=The socialist market economy (SME,ownership%20and%20state%2Downed%20enterprises.
As per that article they literally are against the planned economy and think it’s a dumb idea.
It’s also not communist - the most apt description would be “state capitalism”. Again, read the wiki page linked above for more details and reasons why.