You can argue that you have capitalism if transactions are happening. Which means the word kind of looses it’s meaning because it’s so broad.
But people will often define it on how much market control the state displays.
You can then argue that China has market control on key aspects of important sectors. Which they do, but still with an approach, that they have private companies with government subsidies.
But most of all, the need for distance to the world capitalism is more a marketing thing. Unless they believe that capitalism is just a tool to achieve socialism, which also can be true.
Dang, I could’ve swore there was something about “he wants social democracy not democratic socialism”, but I guess that was other people describing him.
I would argue a capitalist nation is any one that allows the conversion of natural resources into private (not personal) property by law, and facilitates the exploitation of those resources through a market.
It is funny to me that china can pretend not to be a capitalist nation while displaying every symptom of capitalism.
You can argue that you have capitalism if transactions are happening. Which means the word kind of looses it’s meaning because it’s so broad.
But people will often define it on how much market control the state displays.
You can then argue that China has market control on key aspects of important sectors. Which they do, but still with an approach, that they have private companies with government subsidies.
But most of all, the need for distance to the world capitalism is more a marketing thing. Unless they believe that capitalism is just a tool to achieve socialism, which also can be true.
You can argue it, but you’d be wrong.
What you’re describing is dirigism at best. They have billionaires bro. They’re capitalist.
Bernie Sanders is more economically left wing than that and he doesn’t even describe himself as a socialist.
Sanders literally describes himself as a democratic socialist but sure.
Dang, I could’ve swore there was something about “he wants social democracy not democratic socialism”, but I guess that was other people describing him.
I would argue a capitalist nation is any one that allows the conversion of natural resources into private (not personal) property by law, and facilitates the exploitation of those resources through a market.