Full Speed Ahead, Without a Steering Wheel

Bremmer: A couple of points. The first is that in state capitalism, which is what China has, the state is the principle actor in the economy, whereas, in properly run free-market capitalism, the role of the state is to be a referee, to set the rules. In China, as in any state capitalist society, you have some aspects of a free market, with a few corporations that operate openly; and, of course, in the U.S., the government plays a role in the military industrial complex, postal service, and so on. But those are small inconsistencies. The second major difference is that in a state capitalist system, the government is using the market ultimately for political outcomes, not economic ones. So it really works with authoritarian regimes, and it?s used by governments to bolster their own rule and ensure their own survival. In a free market, actors just want to maximize profits.

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