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this post was submitted on 26 Aug 2024
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I think the initial misunderstanding can be explained by how weird capitalism has gotten.
The initial point being made is that 'the market model the west keeps peddling' is less efficient than 'state driven central planning'. To counter that with 'to be fair, China doesn't just rely on central planning' is, I think, a fundamentally wrongheaded way to go about it. It assumes that the market model proposed in China has anything to do with the market model proposed in the west. They are completely different models. Precisely because the state planning (which is not just central, political power and action in China is, as it historically has been, also very decentralized) is done under a communist party.
The market model of the west is a form of romantic capitalism which can be deemed libertarian. It has no empirical basis in the history of capitalism or the industrial age. It is nothing more than an excuse to financialize and speculate away while production and transportation chains rot. There has been other forms of capitalism. The american school, the german school, developmentism, colonialism, and so on. All of them concerned themselves with more than just the interests of virtual capital speculation. That the japanese and the south koreans were once closer to China than the washington consensus simply places them in that historical spectrum.
Because that is not what I am describing. One thing is the logical conclusion of the economic system. Another entirely is the worldview which sustains said system.
Nor does my comment disagree with the people who perceived freagle's comment to be fundamentally wrong. Which was the point.