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Arguably, China is not capitalist. Granted, China has a market economy, but capitalism refers to the ownership of bulk of assets by private parties. The Chinese
by gnode 8y ago
Arguably, China is not capitalist. Granted, China has a market economy, but capitalism refers to the ownership of bulk of assets by private parties. The Chinese government holds a lot of the wealth in China, and does not operate on a level playing field with private parties. Conversely, in a capitalist system, you would expect state ownership to be minimised to assets necessary for the practice of government activities (e.g. schools, courthouses, and military hardware), or even eliminated and contracted out to private enterprise.
Private ownership rights for real estate and securities are also much weaker in China, compared to typical Western nations.
- gnulinux 8y agoThese are good points. I wish people tried to comment arguments like this instead of downvoting and writing angry comments about how I'm insensitive to people killed by communism. I don't even support communism, just wanted to express that China is not communist. > Private ownership rights for real estate and securities are also much weaker in China, compared to typical Western nations. This may be true, but private property is not non-existent in China. Nor do they think it should be annihilated eventually. Capitalist private property owners like Ma exist, and China knows that they let China compete in the world. So I still find it hard to believe China does not operate within capitalistic market.