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"The Riff" with Byrne Hobart and Erik Torenberg
Experimentation Fuels Growth in Regulated Economies
China's economic policy exhibits a rigorous approach to experimentation and performance measurement, focusing on GDP growth to promote leadership. This contrasts with the more permissive legal framework in the Anglophone world, where transactions are legal by default unless explicitly prohibited. China's journey from a totalitarian Marxist-Leninist state to a unique form of capitalism involved initially isolated economic zones that facilitated the gradual integration of market principles into its broader economy, reflecting a complex evolution where financial activities were initially deemed illegal and only allowed through specific permissions.
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