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this post was submitted on 29 Mar 2024
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Do you think China runs a ...capitalist economy? Last I checked, lack of pensions is not an issue in the US.
Edit: for all the triggered ml users: Socialist market economy
China is absolutely not a free capitalist country and I don't know where you guys get this idea. Last I checked, the western capitalist economies do not have governments that set five year plans and funnel economic development into distinct economic sectors.
2nd Edit: I'm not saying China is a socialist country in the classic sense. I'm using terms used by contemporary economists in terms of how they classify china's economy. While a big chunk of china's economy is private the government still plays a pivotal role in planning certain aspects of the economy.
3rd edit: to everyone downvoting, please tell me with a straight face that the entire private sector in China runs completely free of all interference from any governmental actors? Or maybe provide a counter to the general consensus among current economists. Is there something you know that they don't? 😐
4th edit: State Owned Enterprises in china own 22% of the labor force (as recently as 2010). In addition to state owned enterprises, also know as SOEs, the state dips its toes in hybrid business:
China is literally capitalist my guy.
China is absolutely not a capitalist economy in the same manner most western nations are, and anyone disagreeing is just misinformed. China is a mixed socialist market economy with the government directing development towards certain sectors. Hence why they built a national high speed rail system that is largely unused and other similar projects. That being said, there is no reason they couldn't implement a pension system.
Go check it out yourself dude. My experience is quite different to what is so often reported - such as your point about the high speed rail. The complaints the people using it make are valid (its very experience for example) but it is far from unused. Getting on the things are almost always a gladatorial survival experience, and there are people standing (or sitting on their bags) in the aisles. All anecdotal of course. I guess your point is to do with the absolute control the state (likes to think it) has, including with large vanity engineering projects, the zero rule of law, loose and unfair regulation if any, zero workers rights and so in. All things which give most shareholders of multinationals a huge case of genital envy. The place is beyond hyper consumeristic. None of our concepts or categories apply neatly, because the place , much like the world, is massive, complex, and diverse, with many challenges. If anything I think of it as authoritarian capitalism. True socialist concepts are long gone in actual practice there.
Thanks for sharing your experience. This jives a lot with what I've also heard. When I use the word "socialism" I'm not speaking from a leninist theory point but rather the way contemporary economists use to describe planned economies. I don't think China is 'socialist' in the classical sense. I'm speaking strictly through economic theory and how the state operates through SOEs (state owned enterprises) and hybrid business partnerships between the state and the private sector. That's all 🙂
Understood . Pretty fascinating as a (many times) visitor. But glad its somewhere I could leave for greener pastures. Many there wish they could do the same I’m sure.
China is the goal capitalists elsewhere try to achieve
401k! = pension.
Also with the rise in companies going to contractors instead of full time staff there's a not even a guarantee you'll get a 401k
Is social security not around any more?
Not a pension either
Oh? What is it? What should the first google results tell me?
That it's an insurance program
It's not adequate to live on that alone. Also it's projected to not have enough money in the future.
Also people who have 401ks often find it hard to contribute a lot of money to it.
There are all kinds of issues with retirement in America already. You act like we are all living it up over here lol.
Would only run out of money because of limits to how much is taxed and the Republicans wanting to be able to raid it more
Oh wow. Did I ever claim SS was adequate? You guys here reaching trying to ascribe all kinds of things to me that I did not say. Have a discussion. Listen to other people.
china hasn't been socialist since the 70s when the ruling party rejected it
I'm not calling it socialist in the classical sense. Yes, there was a big shift in 78 to open up the markets to western economies and privatize heavily. I'm only expressing myself according to the way contemporary economists classify china. The truth is the government still plays a pivotal role in directing certain aspects of the economy. That's why they were able to build some of the biggest infrastructure projects in the last century. There are entire cities that were built up in days.
fair point!