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     7 years ago (edited)
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       7 years ago 

      Capitalism is not what we think it is, capitalism is what it is.

      The wages system operate in China, the profit system operate in China, accumulation of capital occur in China, externalities occur in China, inequality occur in China. This is not comunism, they are a mix, but their "Socialist Market" is just Capitalism with a make up.

      Economic reforms introducing market principles began in 1978 and were carried out in two stages. The first stage, in the late 1970s and early 1980s, involved the decollectivization of agriculture, the opening up of the country to foreign investment, and permission for entrepreneurs to start businesses. However, most industry remained state-owned. The second stage of reform, in the late 1980s and 1990s, involved the privatization and contracting out of much state-owned industry and the lifting of price controls, protectionist policies, and regulations, although state monopolies in sectors such as banking and petroleum remained. The private sector grew remarkably, accounting for as much as 70 percent of China's gross domestic product by 2005. From 1978 until 2013, unprecedented growth occurred, with the economy increasing by 9.5% a year. The conservative Hu-Wen Administration more heavily regulated and controlled the economy after 2005, reversing some reforms.

      They can be considered a strange Mix as a Nation, but they are one of the most Capitalist Economies.

      Source in Spanish
      This is a great Opinion
      Cary Huang

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         7 years ago 

        Capitalism with a make up? Aka state capitalism. It's either capitalism or it's not, to make the point even more, it's either free trade or it's not, there's no "almost free trade".

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           7 years ago 

          That's the point, State Capitalism is just Capitalism with make up. Their economy is capitalist, I said that we can consider China as a Mix because in Social Policies and in their constitution they are Comunist.

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             7 years ago 

            There's no capitalism without free trade. There's no free trade without free association. State capitalism is an oxymoron.

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