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You really really don't know what you're talking about. The State in China explicitly picks winners and losers from state companies (in particular banks), tigh
by peteretep 11y ago
You really really don't know what you're talking about.
The State in China explicitly picks winners and losers from state companies (in particular banks), tightly controls currencies, tries to resist movement of labour, and attempts to hide moral hazard through censorship. All the while guaranteeing full employment.
- analyst74 11y agoThere are definitely still some communist elements there, like large state owned enterprises and a very controlling/authoritarian government. But some of the key definitions of capitalism is quite entrenched in the society: - means of production are privately owned - profit-motive - market-driven economy / competition - inequality - minimal government interference China definitely does not fit all the hard-core capitalism definitions, especially the minimal government interference part, but it's closer to a capitalist economy than a communist one. Lastly, no, the state does not guarantee employment, that has not been true for at least 30 years.
- wooter 11y agoinequality as part of the definition of capitalism? talk about intellectual dishonesty. has inequality gone up or down since when China had more "communist elements"?
- contingencies 11y agoYou ask a question that was already answered: inequality is entrenched in society. Yes, it has obviously gone way up during and since the transition from traditional communism, when almost everyone was pretty much equally Mao-suit + rice + red-book poor.