In a thought-provoking commentary from five years ago, Liu Zhiqin, a senior researcher at Chongyang Institute for Financial Studies, questioned the United States' status as a \"market economy.\" Fast forward to today, and the critique seems to resonate even more.
Despite hopes for significant reforms, the U.S. has reportedly not implemented the necessary changes to solidify its market economy. Instead, it continues to wield dual roles on the global stage, acting as both \"economic policeman\" and \"market villain,\" impacting not only its own economic stability but also that of the global market.
The argument suggests that the U.S. economic system has shifted from an \"atypical market economy\" to what some describe now as a \"non-market economy.\" This transformation is attributed to deviations from fundamental market principles, such as balanced supply and demand.
Moreover, critics point to the prevalence of non-market tactics like coercion, bribery, and unfair competition, which allegedly undermine the integrity of wealth acquisition through legitimate means. These practices, driven by certain American politicians, are said to compromise the dignity of transactions and exchanges that are typically expected in a market economy.
As discussions continue, the debate over the true nature of the U.S. economic system remains a pertinent topic among international observers and economic analysts alike.
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Why does the U.S. continue to label itself as a "market economy"?
cgtn.com
