Capitalism is great, there’s a reason why Russia and China embrace it.
“They talk about the failure of socialism but where is the success of capitalism in Africa, Asia and Latin America?” - Fidel Castro
What a braindead liberal take
I wouldn’t call it “liberal” that sounds topical it sure is a brain dead take tho
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Wikipedia has a list of Chinese billionaires. Software Developer salaries in China are similar to salaries in the west. Laborers appear to make far less than owners. I do not know why an individual needs billions. Seems to violate, “from each according to their ability, to each according to their needs”.
Maybe the billionaires do not own the capital their laborers use. Maybe the relationship between Chinese billionaire and worker is not exploitative as per the meme. Do the workers control their labor?
Yes, China has billionares. In fact, Roderic Day wrote an essay called China Has Billionaires, you should read it. Ultimately, what determines if a country is socialist or not is not if there are billionaires or not, and isn’t about not having any private property at all or not. In the PRC, the large firms and key industries are publicly owned, and the small and medium firms are a mix of private, cooperative, and joint-stock ownership. The state has control over the capitalists, and the workers have control of the state. It’s in the primary stage of socialism:
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China is transitioning socialist, in the direction of capitalism xD
The large firms and key industries are publicly owned, and the economy is developing further and further along a coherent central plan. It’s still in the primary stage of socialism, but it’s only getting further developed, not regressing into capitalism:
