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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).
They concluded that China's contemporary economic system represents a form of capitalism rather than market socialism because: (1) financial markets exist which permit private share ownership—a feature absent in the economic literature on market socialism; and (2) state profits are retained by enterprises rather than being distributed among ...
The economy of the People's Republic of China is a developing mixed socialist market economy, incorporating industrial policies and strategic five-year plans. [29] China is the world's second largest economy by nominal GDP and since 2016 has been the world's largest economy when measured by purchasing power parity (PPP).
According to party theorists, since China adopted state ownership when it was a semi-feudal and semi-colonial country, it is claimed to be in the primary stage of socialism. [31] Because of this, certain policies and system characteristics—such as commodity production for the market, the existence of a private sector and the reliance of the ...
Such systems are described as state capitalism because the state engages in capital accumulation, primarily as part of the primitive accumulation of capital (see also the Soviet theory of primitive socialist accumulation). The difference is that the state acts as a public entity and engages in this activity to achieve socialism by re-investing ...
State capitalism is a capitalist market economy dominated by state-owned enterprises, where the state enterprises are organized as commercial, profit-seeking businesses. The designation has been used broadly throughout the 20th century to designate a number of different economic forms, ranging from state-ownership in market economies to the ...
The self-managed economy is a form of socialism where enterprises are owned and managed by their employees, effectively negating the employer-employee (or wage labor) dynamic of capitalism and emphasizing the opposition to alienation, self-managing and cooperative aspect of socialism. Members of cooperative firms are relatively free to manage ...
Party-state capitalism (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). [ 1 ] [ 2 ] The term has also been used to describe the economy of Taiwan under the military government of the Kuomintang (KMT).