The Rise of State Capitalism — Ian Bremmer

In September 2008, just as the Western financial crisis was beginning to dominate the world’s attention, Chinese Premier Wen Jiabao sat down for an extraordinary interview with CNN’s Fareed Zakaria. During their conversation, Wen provided what amounts to a precisely worded definition of Chinese state capitalism: “The complete formulation of our economic policy is to give full play to the basic role of market forces in allocating resources under the macroeconomic guidance and regulation of the government. We have one important piece of experience of the past thirty years, that is to ensure that both the visible hand and invisible hand are given full play in regulating the market forces.”

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