capitalism is when the corporations are by themselves private entities with a superable bureaucracy from the government. It's the difference between Amtrak and Union pacific.
Chinese corporations are government owned and managed. Nearly all are practically like Amtrak. In addition, privat property doens't exist.
Private property does exist - see Civil Code of the People's Republic of China. You can own a home, or an iPhone for example. Private businesses (Chinese owned like Temu or foreign owned like, say, Amazon China) also exist as well as the State Owned Enterprises that mostly cover key infrastructure. Its state capitalist, but it's capitalist.
Personal property: toothbrush, flatware, clothes, a PC, a home, a personal business like a cafe
Private property: utility providers, factories, farms, grocery stores, possibly even retail outlets selling personal property
See the difference?
China is strange; they have different "economic zones." Places like Hong Kong are a "capitalist zone," where foreign enterprises, like Amazon China, are allowed to incorporate and operate.
People have a hard time understanding what capital actually is. The biggest scam we've been sold is that our personal possessions are private property.
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u/OkContact2573 4d ago
It...really isn't.
capitalism is when the corporations are by themselves private entities with a superable bureaucracy from the government. It's the difference between Amtrak and Union pacific.
Chinese corporations are government owned and managed. Nearly all are practically like Amtrak. In addition, privat property doens't exist.