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State capitalism is an economic system in which the state undertakes business and commercial (i.e., for-profit) economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor).
Some scholars have described China's economic system as a form of state capitalism, particularly after the industrial reforms of the 1980s and 1990s, noting that while the Chinese economy maintains a large state sector, the state-owned enterprises operate like private-sector firms and retain all profits without remitting them to the government ...
State capitalism, Bremmer explains, is a system in which governments use markets to create wealth and advance their political interests. In China, Russia and Saudi Arabia the state controls key ...
Public enterprise state-managed market economy, one form of market socialism which attempts to use the price mechanism to increase economic efficiency while all decisive productive assets remain in the ownership of the state, e.g. the socialist market economy in China and the socialist-oriented market economy in Vietnam after reforms.
Party-state capitalism (simplified Chinese: 党国资本主义; traditional Chinese: 黨國資本主義) is a term used by some economists and sociologists to describe the contemporary economy of China under the Chinese Communist Party (CCP).
The Chinese experience with socialism with Chinese characteristics is frequently referred to as a socialist market economy where the commanding heights are state-owned, but a substantial portion of both the state and private sectors of economy are governed by market practices, including a stock exchange for trading equity and the utilization of ...
As such, it is sometimes described as a "middle path" or transitional state between capitalism and socialism but can also refer to a mixture of state capitalism with private capitalism. Examples include the economies of China , Norway , Singapore , and Vietnam —all of which feature large state-owned enterprise sectors operating alongside ...
Corporatization of state enterprises and collectively owned enterprises was a major component of the economic restructuring program of formerly communist nations, most notably the People's Republic of China. [11]