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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 ...
Most current communist groups descended from the Maoist ideological tradition still adopt the description of both China and the Soviet Union as being state capitalist from a certain point in their history onwards—most commonly, the Soviet Union from 1956 to its collapse in 1991 and China from 1976 to the present.
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 main failure of the communist right according to Zhao was that they failed to acknowledge that China could reach socialism by bypassing capitalism. The main failure of the communist left was that they held the "utopian position" that China could bypass the primary stage of socialism in which the productive forces are to be modernized. [11]
A communist state, ... China's socio-economic structure has been referred to as "nationalistic state capitalism" and the ... and the party-state models (China).
Modern-day China is often described as an example of state capitalism or party-state capitalism. [292] [293] The state dominates in strategic "pillar" sectors such as energy production and heavy industries, but private enterprise has expanded enormously, with around 30 million private businesses recorded in 2008.
[85] [86] Many scholars consider the Chinese economic model as an example of authoritarian capitalism, [87] [88] state capitalism [89] or party-state capitalism. [90] [91] China brought more people out of extreme poverty than any other country in history [92] [93] —between 1978 and 2018, China reduced extreme poverty by 800 million. [94]
In the 21st century, idealism and the goal of Communist utopia was replaced in state propaganda with a focus on undermining the capitalist/democratic ideological competition, and convincing the Chinese public that "there is no democratic alternative" to authoritarian rule — a particular concern of the party after the 1989 Tiananmen Square ...