China describes its system as a "socialist market economy". How does that work? What is the role of its stock exchanges? Ben Norton explains Socialism with C...
State Capitalism is when all large enterprises are owned by the state.
It’s what the Soviet Union did under GOSPLAN.
You mean to say the majority of economic relationships in China are in the capitalist mode but subject to enormous state intervention and control, which is the same point made in the video that the communist party maintains control over an economy with market mechanisms.
Because its not socialist it’s state capitalism
“State capitalism” is a form of socialism pioneered by Lenin. It’s not just “markets but also the government over them”.
State Capitalism is when all large enterprises are owned by the state.
It’s what the Soviet Union did under GOSPLAN.
You mean to say the majority of economic relationships in China are in the capitalist mode but subject to enormous state intervention and control, which is the same point made in the video that the communist party maintains control over an economy with market mechanisms.
Watch the video.