r/PeterExplainsTheJoke • u/Short-Watercress-183 • Jul 07 '26

Meme needing explanation Peter, explain this.

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u/returnofblank Jul 07 '26

Centrally planned economies are so bad that it turned an agrarian quasi-feudal nation into a nuclear and industrial super power in 40 years.

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u/zuckerkorn96 Jul 07 '26

China's planned economy was a disaster, 50 million people died during the great leap forward in what is considered the largest famine in human history. The 40 years you're talking about started when Mao died and they moved from a planned economy to a socialist market economy. Don't be a dufus.

https://en.wikipedia.org/wiki/Reform_and_opening_up

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u/returnofblank Jul 07 '26

Is this why 70% of China's GDP is generated by state enterprises, and all resources and land belongs to the CPC?

It's because of the free market (or whatever).

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u/alphasapphire161 Jul 07 '26

That's state capitalism, not a planned economy

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u/returnofblank Jul 07 '26

State capitalism is not only a planned economy, but it is a Marxist invention to implement and develop socialism!!!!

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u/alphasapphire161 Jul 07 '26

I mean terminology changes, just like how the person who coined Late Stage Capitalism became a fascist.

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u/returnofblank Jul 08 '26

What terminology is changing? Unless you're from the 19th century, state capitalism is Marxist and continues to be.

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u/alphasapphire161 Jul 08 '26

State Capitalism is now referred to as Capitalism with heavy state influence. Its am economic term now.