I think it’s important to mention that it’s not just the proportion of state owned industries in China. The finance sector is state controlled, which in a capitalist society is how the highest level decisions are made. Anyone who’s read Imperialism will recognize China as a socialist state.
That china is a socialist state is not in question.
We’re talking about its economic system, and I believe “state capitalism” is the right description.
That most of its major industries are state controlled and the biggest firms are SOEs doesn’t change this.
As a side note: There is still a lot of private capital slushing around in China, and many USD-millionaires. There’s still significant inequality. They still have work to do, but that doesn’t detract from what they have achieved.
I think you’re getting hung up on an artificial separation of politics and economics, you should look up a critique of this or investigate why political economy is a useful framework for analysis.
I think it’s important to mention that it’s not just the proportion of state owned industries in China. The finance sector is state controlled, which in a capitalist society is how the highest level decisions are made. Anyone who’s read Imperialism will recognize China as a socialist state.
That china is a socialist state is not in question.
We’re talking about its economic system, and I believe “state capitalism” is the right description.
That most of its major industries are state controlled and the biggest firms are SOEs doesn’t change this.
As a side note: There is still a lot of private capital slushing around in China, and many USD-millionaires. There’s still significant inequality. They still have work to do, but that doesn’t detract from what they have achieved.
I think you’re getting hung up on an artificial separation of politics and economics, you should look up a critique of this or investigate why political economy is a useful framework for analysis.
Thanks. I find it quite fascinating, despite the open hostility of some here.