I like the idea of the government controlling and regulating some things. I have just been reading about problems with imports from China in industries that are not regulated. Pet food with melamine killed lots of dogs and cats, toothpaste had poison in it, Chinese cough medicine killed 300 people in Panama, and so on. In addition to the suffering and death resulting from this lack of regulation, these things will hurt the Chinese economy because people will be less likely to buy food, medicine or anything dangerous from China.
Regulation is an important part of a modern functioning economy. The Chinese economy is being damaged by lack of regulation. I think it is valid to complain about a particular regulation that you think is wrong, but I don't think it makes much sense to criticize the concept of government regulation in general.
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