It’s well secured to not allow internal corruption
Meanwhile in China: from taizi dang, to current and bi-yearly purges because of corruption, including people very close to Xi.
China is actually a socialist democratic state, that is the political doctrine. For the economic doctrine, they just really used their head and created a very well executed model that is relatively new in economy.
It’s usually called a social market economy and it uses the best traits capitalism can offer for growth and scale whilst containing it so it remains innovative and improves the economic situation of it’s citizens. It’s well secured to not allow internal corruption (see what happened when Jack Ma thought he was as polically powerful as US billionaires) and structures like state councils to approve or refuse mergers if they deem it attempts at building monopolies. Wether it will fail or not, all economic models have always had one thing in common; they are born, change through time and evolve and die eventually. That is their only common trait aside from their fundamental nature in being ideological systems to manage ressources. Capitalism may die within the next 100 years if the trends of what has happened in the last 20 years keep themselves up but yeah, it should not be dismissed because of the historical chinese/western frictions.
ThirdConsul@lemmy.zip 5 hours ago
NocturnalMorning@lemmy.world 8 hours ago
A lot of humans will also die in the next 20 years due to climate change. It’s funny you think we’re just gonna keep on keeping on once climate change gets really bad everywhere.
Doomsider@lemmy.world 5 hours ago
China produced more billionaires than the US this year. The only way they accomplished this is to allow unfettered capitalism which is very evident. There is no going back and the billionaires will be calling the shots before to long. They are just another fascist nation at this point and the fourth/fifth largest producer of weapons to boot.
redwattlebird@lemmings.world 3 hours ago
The difference between Chinese billionaires and American billionaires is that the Chinese ones are owned by the government. To set up any company in China requires part government ownership of, I think, 15%.
There is no way the billionaires are calling the shots, ever, while Xi is in power. As if he would allow what’s happening in America, happen in China.
Remember what happened to the CEO of Alibaba? Jack Ma? When he became rich enough to potentially take over the country?
lechekaflan@lemmy.world 3 hours ago
Much like Putin and the Russian oligarchy, who they either play with him or be shown the window.