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China is definitely not communist, but it is definitely less capitalist than the US. Fundamentally the "Communist" Party is about control, which is directly op
by prewett 10y ago
China is definitely not communist, but it is definitely less capitalist than the US. Fundamentally the "Communist" Party is about control, which is directly opposed to a free market (i.e., capitalism). For example, the Chinese government wants a stock market. But, they want this market to always go up. (down = people lose money = risk of social unrest) So this year they tried stopping the market if it fell too far, suspending trading of certain companies, telling fund and/or brokerages that they could not sell certain companies. NOT capitalism. Also, the economy is dominated by large state-owned-enterprises (SOEs) which receive strong direction from the government. The government tells factories around Beijing to close whenever a government meeting is in town, so the air will be clean. Note how none of those things happen in the US.