Question

Why do you think China’s command economy caused problems?

Answer 1

Since its establishment in 1949 and until the end of 1978, China maintained a centrally planned, or command, economy. ... Because the central planning economic systems and government economic policies put little emphasis on profitability or competition, the country's economy was relatively stagnant and inefficient.

Answer 2

Since its establishment in 1949 and until the end of 1978, China maintained a centrally planned, or command, economy.Because the central planning economic systems and government economic policies put little emphasis on profitability or competition, the country's economy was relatively stagnant and inefficient.

The economies of the United States and China are intricately linked, due to the two nations sharing the second-largest trading partnership of goods and services. Low production costs and cheap labor are negatively impacting the export market of the United States. China was the United States' largest creditor in 2018