The Rise of China
Dan Snow's History Hit
00:00
What Is the Real Effect of a Planned Economy?
A plan sounds great, but the truth is that in planned economies, the plan is very rarely executed in the way it is envisaged by the planners. In other words, on the ground, it is chaos with shortages at every level. And what triggered, well, we're going to talk about how dramatic the change was, but what triggered this transformation? And when was it? In the late 1970s, what happened? Why did the Chinese change course?
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