Iceweasel
Diamond Member
Wrong. China is communist and doesn't pretend otherwise. It allows businesses to operate at their discretion and right now they put the environment on the back burner to rake in as much money as they can.It means the state acts as a "capitalist".Well, in a democracy, the state represents the will of the people, right? And I honestly haven't seen any definition of capitalism that didn't specify private ownership. How is state capitalism not a contradiction in terms?
"An investor of capital in business,especially onehaving a major financial interest in an important enterprise."
capitalist - definition of capitalist by The Free Dictionary
China is a good example of state capitalism ( a very successfull one so far).
Chinese capitalism is just another knockoff
China has indeed grown by leaps and bounds over the past decade. That’s a huge credit to a country that has modernized and industrialized on a previously unseen scale. And because of its 1.3 billion citizens, China has quite a bit of growth (read: catching up) still to come. China’s style of governance leaves the country light on regulation. However, it’s also light on rule of law, transparency, freedom of speech and several other key features that make the U.S. economy go ’round. Just because the Chinese government can move a village and build a road without holding a single hearing doesn’t mean the free market has taken hold. Indeed, it shows the opposite: China’s economy is largely state-planned, state-owned and state-run. The government uses capitalism only as a tool to reach its ends, not as a true expression of a free market.