‘Socialism with Chinese characteristics’ explained
5:27
‘Socialism with Chinese characteristics’ explained
Jun 26, 2021
South China Morning PostEthan Paul, Lea Li
They say China proves socialism works. But let’s be real: every shred of prosperity there came only after the country embraced markets. Under Mao, everything was state-owned. No private property, no profit, no free trade. The result? Mass famine, poverty for nearly 9 out of 10 people, and a GDP per person of just $156. When China finally opened up in the 1980s, letting farmers keep profits and allowing private businesses to rise, everything changed. By the mid-90s, private firms were driving mos
They say China proves socialism works. But let’s be real: every shr…
2.6K views4 weeks ago
FacebookStudents For Liberty
China isn't a "socialist market economy." It's a capitalist economy with authoritarian political control. The Chinese Communist Party figured out that socialism creates poverty, so they adopted capitalist mechanisms while maintaining political power. Their prosperity comes from the capitalist parts, not the socialist ones. This kind of rhetorical sleight-of-hand is common among socialists who want to claim credit for capitalism's successes while avoiding responsibility for socialism's failures.
China isn't a "socialist market economy." It's a capitalist econom…
5.6K views3 weeks ago
FacebookStudents For Liberty
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