Want to create an interactive transcript for this episode?
Podcast: Geopolitical Economy Report
Episode: How can China be socialist if it has a stock market? Understanding the Chinese economy
Description: China describes its system as a "socialist market economy". How does that work? What is the role of its stock exchanges? Ben Norton explains Socialism with Chinese Characteristics.
VIDEO: https://www.youtube.com/watch?v=M4__IBd_sGE
Topics
0:00 Intro
1:11 Deng Xiaoping & China's "Reform & Opening Up"
4:06 Socialism with Chinese Characteristics
5:17 China's economic growth & poverty reduction
7:42 How state-owned enterprises (SOEs) run China's economy
10:09 Chen Yun & the "birdcage economy"
11:39 SOE share of China's GDP
13:37 China's largest companies are SOEs
14:53 Socialist market economy
16:02 "Grasp the large, let go of the small"
17:42 "Managed competition" in China
19:50 Billionaires in China
20:43 China's stock markets
27:17 (Clip) Western...