China isn't a "socialist market economy." It's a capitalist economy with authoritarian political control. The Chinese Communist Party figured out that socialism creates poverty, so they adopted capitalist mechanisms while maintaining political power. Their prosperity comes from the capitalist parts, not the socialist ones. This kind of rhetorical sleight-of-hand is common among socialists who want to claim credit for capitalism's successes while avoiding responsibility for socialism's failures.

Hayek never softened his stance on socialism. For him, it wasn’t an ideal corrupted by bad implementation; it was a fundamental misunderstanding of how human knowledge, incentives, and freedom actually work. Central planning, he argued, could never replicate the spontaneous order created by individuals pursuing their own goals. And every attempt to control it leads, inevitably, to coercion. Decades later, his warning remains just as relevant. | Students For Liberty

Under Mao, socialism left China starving and poor. 88% in extreme poverty and tens of millions dead in famine. What saved the country wasn’t central planning but Deng’s market reforms, opening trade and allowing profit. That’s what drove growth, innovation, and opportunity. If you want to cut through myths like this on your own campus, get the College Survival Kit. Access: https://buff.ly/MoDzbOC | Students For Liberty