Classical economic theories are not able to conceptualize China's economic model nor the growth it has witnessed over the last decades. In this debate, Leonardo Burlamaqui will share his view of Schumpeter's contributions to a theory of the state as an entrepreneur, his conception of socialism, and its current relevance to understanding China's hybrid economic model. In this reflection, the will examine how the policies proposed by U.S. President Joe Biden help examine the role of the state for economic development and how this understanding is reflected in Brazil's current challenges. 5z1f5v