Capitalism is a useless word. Markets and property ownership (communal property is property) exist naturally. Oligarchism and Corporatism (supremacy of those classes) are narrowly defined words. US philosophy is industrial policy to maximize oligarchist/corportist supremacy and profits. Chinese industrial policy maximizes abundance, and overall policy restricts oligarchist excess. It directs massive job creating investment, but doesn’t interfere with market wages, as labour supremacist opposition parties in the west advocate for.
Capitalism is a useless word. Markets and property ownership (communal property is property) exist naturally. Oligarchism and Corporatism (supremacy of those classes) are narrowly defined words. US philosophy is industrial policy to maximize oligarchist/corportist supremacy and profits. Chinese industrial policy maximizes abundance, and overall policy restricts oligarchist excess. It directs massive job creating investment, but doesn’t interfere with market wages, as labour supremacist opposition parties in the west advocate for.