this post was submitted on 02 Feb 2025
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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