The comparison was with communism, and because we know China is really more of a capitalist society with a more robust welfare state and regulatory framework, I figured I’d make reference to Soviet Communism, where the state (theoretically) owned everything.
Both the PRC and former USSR are/were socialist. Public ownership is/was the principal aspect of both economies, and the working classes control/ed the state. Private ownership in the PRC is only in secondary industries. Communism is a post-socialist society where all production and distribution has been collectivized, and class no longer exists. My comment applies to both the USSR and PRC, the state has to be accountable to the working classes, as it was in the USSR and is in the PRC.
The comparison was with communism, and because we know China is really more of a capitalist society with a more robust welfare state and regulatory framework, I figured I’d make reference to Soviet Communism, where the state (theoretically) owned everything.
Wrong.
Is China State Capitalist?
Both the PRC and former USSR are/were socialist. Public ownership is/was the principal aspect of both economies, and the working classes control/ed the state. Private ownership in the PRC is only in secondary industries. Communism is a post-socialist society where all production and distribution has been collectivized, and class no longer exists. My comment applies to both the USSR and PRC, the state has to be accountable to the working classes, as it was in the USSR and is in the PRC.