official said those countries eventually earned market economy
status as evidence of state subsidies and state distortions waned.
But she is not well served by the market economy
available to her.
In May, its members voted to withhold market economy
status from China, amid protests by Europe's steel industry against competition from the east.
In the near past, China did show some promise of becoming more of a market economy
, as Ronald Coase and Ning Wang argued in their 2013 book How China Became Capitalist (Palgrave Macmillan; reviewed in the Winter 2011-2012 issue).
"Tata Steel is deeply concerned about Europe apparently sleepwalking into potentially even greater steel crisis by the granting of market economy
status to China," said Tim Morris, head of public affairs at Tata Steel Europe.
The MP is calling on the government to oppose China being granted market economy
status this year to protect UK steel.
In the VoC-approach, two "ideal" types of capitalism are distinguished: a liberal market economy
and a coordinated market economy
"I think there is no dilemma that our economy, by many features, has been a functional market economy
since 2005 when Macedonia was awarded the candidate member state status," says former Finance Minister Nikola Popovski.
Two management scholars at the University of Pavia argue that Europe's impending jump from monetary union to economic union should be the opportunity to change from the vision of unrestrained global greed to a convergence of ideals that include a new humanism, a social market economy
, orderly relations between market and state, human rights, federalism, and subsidiarity.
"It would be easier for Chinese firms, which are unfairly labelled as subsidised agents of the Chinese government, to obtain market economy
status," Hosuk Lee-Makiyama, co-director of the European Centre for International Political Economy (ECIPE), told Europolitics.
"Free market economy
doesn't rule out government intervention.
According to the authors, history shows that "a productive market economy
requires the existence of a particular set of beliefs and institutions in order to establish the incentives that will encourage people to participate in a market economy
and be sufficiently rewarded for their efforts" (p.