"Black Cat White Cat" is a theory that has been widely known since China's reform and opening-up. It's based on a quote from late leader Deng Xiaoping in the 1960s – "Black cat or white cat, if it can catch mice, it's a good cat." In other words, no matter whether it's a planned economy or market economy, an economy is only a means of allocating resources – it has nothing to do with the political system.
Updated 21:36, 01-Dec-2018
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