Comment on Piers Morgan gets owned

• Mango@lemmy.world ⁨9⁩ ⁨months⁩ ago

  China really isn’t. They gotta jump through some wild hoops to do business over there. Apparently the way they exchange value between companies is via some share of inventory for sales or whatever. It’s complicated AF, so I don’t know how to explain it.

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  • Tom_Hanx_Hail_Satan@lemmy.ca ⁨9⁩ ⁨months⁩ ago

    Julan Du and Chenggang Xu analyzed the Chinese model in a 2005 paper to assess whether it represents a type of market socialism or capitalism. They concluded that China’s contemporary economic system represents a form of capitalism rather than market socialism because: (1) financial markets exist which permit private share ownership—a feature absent in the economic literature on market socialism; and (2) state profits are retained by enterprises rather than being distributed among the population in a social dividend or similar scheme, which are central features in most models of market socialism. Du and Xu concluded that China is not a market socialist economy, but an unstable form of capitalism.[18]

    That’s from a Wikipedia. I’m not going to pretend to have a strong grasp on it but it’s state owned enterprises that function, essentially, as private (separate from government). That combined with production for profit > production for use makes it way more in the capitalist spectrum compared to Marxists ideology. Especially considering their human rights record.

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    • Mango@lemmy.world ⁨9⁩ ⁨months⁩ ago

      That’s fair enough I guess. They’re trying really hard to not be capitalism though. 🤣

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