Post #2587352

2026-05-15 11:41 UTC

I don’t think the PRC falls into the bracket of socialist countries. If you apply for jobs, nine out of ten times you will end up working for a compamy owned by one boss or a board, and that makes the principal aspect of economy owned privately. Please correct me if I’m wrong.

Replies (1)

@Cowbee@lemmy.ml 2026-05-15 11:51

That’s not what I mean by “principal.” The principal aspect of something is that which is rising, dominant, and determines the character of a system. In China, the commanding heights of industry are overwhelmingly publicly owned. Private ownership is largely of the petty type, or in secondary/high competition categories, with more state oversight the larger and more important the industry is. As these firms grow, they are gradually folded into the public sector. Capital exists in a birdcage that the CPC can gradually tighten as they please, thanks to the political power they have, and they allow capital to serve the purpose of building up the productive forces to service the future economy that is more publicly planned.

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