4min chapter

Nostrovia - The Original Nostr Podcast cover image

Bitcoin and China with Joseph Wang

Nostrovia - The Original Nostr Podcast

CHAPTER

The Differences Between Maoism and the Current System

Under Maoism, China had a central planning organization that would issue orders directly to the factories. The Chinese government now uses market mechanisms to decide how much stimulus economy is pumped in. They're hesitant after seeing what happened in 2008 when they used COVID and then you had this massive unemployment drop. But if we just pump too much money in the economy and we start getting 10% inflation, then you're going to have rights in the streets.

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