Central planning is failing in China.
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Hyper-central planning is failing. We have “central planning” here in the US to some degree. There will always be a “sweet spot” for markets and government incentives/regulations. The real problem with the US is culture; and right now US culture seems to be lovin’ gov’t handouts.
We need to define our terms. I think we agree.
What is best is a "sweet spot" as you have said, where individuals know the rules, and can rely on the rule of law to make long term plans.
Yes, the culture of handouts has been pushed for decades, since about the mid 1960s, I would say.
“Gov’t handouts”
We need real property and income tax caps to protect the middle class (those having incomes in the range of full-time federal employees).
The federal income tax on higher incomes needs to be dedicated to the payoff of federal debt.
The ability of Democrats to buy votes must be constrained.
I will argue that the President Xi ordered central planning is in fact succeeding famously.
To create the envisioned return to pure communism, President Xi is embarked on a program to destroy all evidence of capitalism on Chinese society. This involves totally wrecking the existing economy and social structure and then rebuilding from scratch what he has termed China Socialism.
The CCP implemented Red Lines on the banks that destroyed the real-estate development on which the whole economy and regional governments depended. Very recently, the new auto industry manufacturing industry was similarly destroyed. All foreign business is either leaving or has left. Retail businesses in the major citiees have shut their doors. Manufacturing is also ceased. Factories closed.
The resulting unemployment is incalculable. All Government economic numbers are just bogus and totally without foundation.
If China and the CCP actually survive, the result is going to be a China that is unrecognizable