Showing posts with label Capitalism in China. Show all posts
Showing posts with label Capitalism in China. Show all posts

Thursday, February 15, 2024

China’s Stock Market: A Lesson on What Socialism Is Not

By Charles Andrews*

Late in January, the Chinese government arranged for its state-owned companies to put as much as $282 billion into the falling stock market. The companies were told to buy via Hong Kong accounts.

The government is desperate to halt a big slide in the Shanghai Composite Index, which had fallen nearly to its March 2020 low point at the start of the COVID pandemic.

Why does a “socialist” economy have a stock market?