A Libertarian laissez faire free-marketeer recently told me that not only is China capitalist, but it is the most capitalist country on Earth. LOL.
No one on Earth thinks China is a capitalist country, much less one of the most capitalist countries on Earth, except some capitalist fanboys, Libertarians, etc. A few Western Left types, especially Trots, say that China is not socialist anymore and instead is capitalist, but that’s not a common point of view. Anyway, the Western Left have long been lunatics! The rest of the Left laughs at them.
Many Marxists and Communists all over the world say that China is a Communist country.
Some years ago, the #3 manufacturer of TV’s in the world was a Chinese state-owned firm that was literally run by its workers. That is, the workers got the entire profits as a paycheck, but then they had to deduct 95
China has eliminated extreme poverty, one of the first countries to do so.
The private sector is in a very tight leash in China. They have to do what the state says, or orders. If they don’t, the state will just go in and confiscate the business! Then they will give it to someone who will do what they say. The market is simply a tool for the development of the productive forces in China. It’s not form of politics as it is under capitalism. In China, the state is over the capitalists and in capitalist countries, the capitalists are over the state.
Furthermore, the capitalists and billionaires are not allowed to own the media. All media is state owned, I believe. They fear that allowing capital to own the media will lead to a capitalist country.
All land is publicly owned. You cannot buy or sell land. Once you allow private ownership of land, it’s gone and you have a capitalist country.
In fact, China and Iran are two of the most socialist countries on Earth.
All foreign owned firms have been mandated to give 16
China has spent a vast amount of money in the rural areas because they have been falling behind. All of the infrastructure is state-owned and there is massive state spending on such. 5-10 of the largest Fortune 500 companies in the world are Chinese state-owned firms. The state spends a vast amount of money at all levels of the economy.
The spending would boggle your mind. Did you see how fast they built those new hospitals when COVID hit? You can’t do that in a capitalist country. China has one of the best high speed rail networks on Earth. Why can’t we build one? China’s policy with the Global South is one of solidarity, not exploitation and imperialism.
Public firms compete against private firms in China. China still has five year plans that are followed to the letter.
In response to the Libertarian free-marketeer claptrap that “socialism has failed everywhere it has been tried,” and “How could any intelligent person be a socialist?” almost every country on Earth is socialist in one way or another. The US is one of the only outliers. Most very smart people in the world are socialists of one type or another. Socialism works great. It just depends on what kind you are talking about.