China and Schumpeter's 'Creative Destruction'

It’s a key question raised in a novel way as Xi Jinping and other leaders aim to take economic reform in China to the next level. “If, as Joseph Schumpeter said, creative destruction is the “essential fact about capitalism,” then just how capitalist is China?” asks a report released on Feb. 10th by Beijing-based China economic consultancy GavekalDragonomics.

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