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(lemmy.world)
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this post was submitted on 10 Apr 2024
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What "other economic system?" China is a state capitalist command economy -- They can call themselves "communist" all they want but at this point it is in name only and we all know it. They left behind any shreds of actual communist philosophy in the late 1970's and conveniently kept only the Soviet style authoritarian parts.
The entire country is run as one giant business for the purposes of profit, and although major swathes of their business sector may be state-owned, they're still driven by a capitalist profit motive, and they keep said profits for themselves to no benefit of the teeming masses who make up everyone who isn't already at the top.
I'm anti authoritarian, but I meant centralized vs decentralized economic planning. I agree though, communism is state capitalism