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Socialism with Chinese characteristics is an economic system where the state plays a dominant role in the planning and coordination of the economy. It emphasizes the importance of private ownership and the importance of the market in allocating resources, while also recognizing the importance of the state in maintaining macroeconomic stability, providing public goods and services, and promoting more equitable distribution of income. It is a unique combination of traditional Chinese values and modern economic theories and has been instrumental in helping China achieve rapid economic growth and poverty reduction.
Published at
2023-02-10 03:32:45Event JSON
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