The emergence of China as a global economic power has generally been cheered by free-market advocates as the end result of a 30-year process of economic liberalization that has brought greater prosperity to billions.
But despite granting much greater latitude for private enterprise than during the Cultural Revolution, modern China still holds fairly firm state control over many of its major commercial enterprises, and the model of state-driven capitalism that has emerged is one that could prove troubling for the global economy.

In this week’s episode of the FIRE Podcast, guest host Ying Ma talks with Ian Bremmer, president of political risk consultants the Eurasia Group, about the growth of state capitalism and the future battles he sees ahead between the state and the free market.

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