Before Deng Xiaoping launched the policy of “reform and opening up” in 1978, the country had relatively high levels of public-sector investment. But the centrally planned economy lacked market incentives and was largely closed to the global economy’s major markets for goods, investment, and technology.
中国就是一个绝佳的例子。1978年邓小平启动“改革开放”政策之前，中国公共部门投资相对较高。但中央计划经济缺少市场激励，也基本对全球经济的主要商品、投资和技术市场封闭。结果，公共投资回报十分平庸，中国经济表现也十分低下。