China is definitely capitalist. How can they have competitive pricing? Slavery, like everyone else, and of course a shitload less regulation.
Edit: Capitalism rewards abuse.
The PRC has a socialist market economy. The large firms and key industries are thoroughly publicly owned, public owmershio is the principle aspect of the economy. They are at a developing stage of socialism. As for working conditions, they are improving over time, and general material conditiond have skyrocketed over the last century.
Capitalism would be somewhere like the US Empire, where the large firms and key industries are overwhelmingly privately owned.
No problem! What would it take for you to consider it socialist, though? The principle aspect of the economy is public ownership, so that should be enough by most standards to distinguish it from capitalism, where private ownership is the principle aspect.
China is definitely capitalist. How can they have competitive pricing? Slavery, like everyone else, and of course a shitload less regulation. Edit: Capitalism rewards abuse.
The PRC has a socialist market economy. The large firms and key industries are thoroughly publicly owned, public owmershio is the principle aspect of the economy. They are at a developing stage of socialism. As for working conditions, they are improving over time, and general material conditiond have skyrocketed over the last century.
Capitalism would be somewhere like the US Empire, where the large firms and key industries are overwhelmingly privately owned.
Wow, It’s actually better, then unregulated capitalism, but I still wouldn’t call it socialism. Thanks for the info.
No problem! What would it take for you to consider it socialist, though? The principle aspect of the economy is public ownership, so that should be enough by most standards to distinguish it from capitalism, where private ownership is the principle aspect.