http://archive.today/J2U2M
I'm gonna press X to doubt on Bloomberg quoting Xi. If true, then I'll say I agree not going down the "old ways" of economic planning. I'll say we go to the new ways of economic planning. We no longer need 1 million people in gosplan, we have computers and the internet. Supply chains could democratically and instantly respond to demand, we could enforce manufacturing standards of quality and of ecology abolishing planned obsolescence, we could democratically decide what goods we want to manufacture and what goods we want to leave aside to prioritize expenditure of resources and labor in other aspects... The possibilities of economic planning with modern technology are astonishing and I'm honestly hyped for it
We ain't doin that old shit no more we on that new shit now
If I remember correctly, it was bad translation. What actually was said that China won't return to a planned economy like in the past. Ergo, a new kind of planned economy is the goal.
I don't think that is correct. They currently have a market based economy that is under significant state intervention and they want to keep it this way. It could change in the future but I don't think they have a concrete plan for that, which makes sense to me, since a market based economy is pretty much necessary to integrate with the western economy. What the bloomberg article states is very close in meaning to this excerpt from this CGTN article:
China's success in moving from a Soviet-style command economy to a more market-driven one has also cultivated influential global companies like Huawei, TikTok, Tencent, Alibaba and BYD.
The country's leaders often stress that the market should be allowed to play a decisive role in allocating resources, and China can never go back to a dominant centrally planned economy that often stifles innovation, discourages entrepreneurship and is much less efficient in distributing resources.
(This article was from five years ago.)
I'm not much of a "China Watcher" but if this wasn't some mistranslated or misinterpreted quote then Xi's version of an unplanned economy is pretty lit.
All I have to say is that the big thing on the wall looks kinda delicious?
