In the US, government spending accounts for ~40% of GDP. It is difficult to say what the ratio is for China because I don't know how to reconcile their state owned businesses with a western public-private model. But Wikipedia's list claims that their direct spending is 24% of GDP [0].
The opinions of free market capitalists aren't in the driver's seat of the US economy. Since the 70s the US has been transitioning to some sort of mixed model.
The opinions of free market capitalists aren't in the driver's seat of the US economy. Since the 70s the US has been transitioning to some sort of mixed model.
[0] https://en.wikipedia.org/wiki/Government_spending