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.
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.