this post was submitted on 02 Feb 2025
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Economics
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I always thought China was Capitalist. They haven't abolished private property, and they have billionaires.
To go deeper than the Red Sails essay Yog linked, here's an older but very relevant and deeply researched essay on how China isn't capitalist. And this was well before the incredibly wide ranging and monumental changes in the Xi years.
https://chinareporting.blogspot.com/2009/11/class-nature-of-chinese-state-critique_26.html?m=1
one of the best responses to that https://redsails.org/china-has-billionaires/
If only there was a transitional phase, spanning a historical epoch, between capitalism and communism. Socialism, or something like that...
Neither private property nor billionaires disprove socialism. Such criteria are of moralist origin, it is plain revisionism to force moralism where it does not belong to begin with.
Vietnam has billionaires. Cuba has private property. Are they capitalist?