China has not abandoned Marxism, they adjusted from the dogmatism of the Gang of Four to a more classical understanding of Marxism. Claims of imperialism are similarly false. Even if you disagree with China’s socialist system, it’s factually based on the Marxist understanding of marketization as useful for socializing production, while the commanding heights of the economy remain dominated by the socialist state. Here’s a handy diagram:
Adam Smith would have vehemontly disagreed and believed the free market to be the best way of allocating resources, and a permanent institution, not something definitely developing towards centralization as Marx did. When subordinate to the socialist state, this centralizing factor can be leveraged to fold industry as it develops to national monopoly into the public sector.
China has not abandoned Marxism, they adjusted from the dogmatism of the Gang of Four to a more classical understanding of Marxism. Claims of imperialism are similarly false. Even if you disagree with China’s socialist system, it’s factually based on the Marxist understanding of marketization as useful for socializing production, while the commanding heights of the economy remain dominated by the socialist state. Here’s a handy diagram:
Adam Smith would have vehemontly disagreed and believed the free market to be the best way of allocating resources, and a permanent institution, not something definitely developing towards centralization as Marx did. When subordinate to the socialist state, this centralizing factor can be leveraged to fold industry as it develops to national monopoly into the public sector.